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Q: Japanese bank account for US company ( Answered,   0 Comments )
Subject: Japanese bank account for US company
Category: Business and Money > Small Businesses
Asked by: gbears-ga
List Price: $15.00
Posted: 06 Nov 2006 19:46 PST
Expires: 06 Dec 2006 19:46 PST
Question ID: 780683
How do I open a Japanese bank account for my US-based company?
Subject: Re: Japanese bank account for US company
Answered By: sublime1-ga on 06 Nov 2006 20:54 PST

This doesn't seem possible, from what I've found.

This FAQs page from the FourSeasons website notes:

"I was wondering if it's possible to open a Japanese bank
 account before I arrive?

 No. Japanese banks require the depositor to have an alien
 registration card (bottom of the page) and a Japanese address."

This page from CalState, advising exchange students heading
for Japan notes:

"All else being equal, opening an account with Citibank is,
 in many ways, the most convenient. Citibank is the only bank
 in Japan with 24-hour ATM service (with all other banks,
 once the bank closes, so do the ATMs). Citibank's ATMs are
 also compatible with certain other American banks, such as
 Bank of America."

This seemed to suggest that it might be possible for Citibank
to either open a Japanese account for you, or open a stateside
account and act as a mediary for your company in doing business
in Japan, without requiring Japanese residency.

To that end, I explored Citibank's website:

I found nothing hopeful on the site, so I contacted their
24/7 toll free number Customer Service number: 1-877-528-0990

I got through to a customer service representative named Gayle
and put your question to her. She said that the bank does have
offices in Japan, along with ATMs where you can access funds
from a US account, but this does not allow deposits to be 
made from a Japanese company, e.g. She further confirmed that
they cannot open what would be considered a Japanese banking
account if your company has no actual residency in Japan.

When I asked her for alternatives, she suggested that wire 
transfers would be the best alternative:

I'm sorry that the answer confirms the absence of the solution
you'd prefer, but please don't punish the messenger. Keep in 
mind that researchers earn 75% of the question value for their
expertise and/or ability to research a subject whatever the
outcome might be.

If you have any questions, please post a Request for Clarification
before rating the answer.


Additional information may be found from an exploration of
the links resulting from the Google searches outlined below.

Searches done, via Google:

"open a japanese bank account"

citibank japan
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