For a Chinese newcomer to Japan, opening a Japanese bank account is usually the first big task after getting the residence card (zairyu card) and registering an address: salary, rent, phone bills and utilities almost all run through it. Under Japan’s Foreign Exchange Act, a foreign national who entered Japan less than six months ago and does not work at an office in Japan counts as a “non-resident”, and remittances and other transactions face more restrictions; people who start work at a Japanese company on arrival are generally treated as residents.
Moving money between China and Japan means following both countries’ rules: Chinese individuals have an annual foreign-exchange purchase quota of USD 50,000, which may not be used for buying property abroad, securities investment and similar purposes, and Japanese banks report any single cross-border transfer above ¥1 million to the tax office in a “Kokugai Sokin-to Chosho” (overseas remittance report). Close your account before leaving Japan and never sell it: since July 2026 the penalty for trading bankbooks has risen to up to three years’ imprisonment or a ¥5 million fine.
What to prepare before opening an account
Japan’s Financial Services Agency (FSA) says in its guidance for foreign residents that opening an account requires photo ID, sometimes more than one document, plus a seal (inkan) or a signature. In practice the usual set is as follows (as of October 2026):
| Document | Notes |
|---|---|
| Residence card (zairyu card) | The bank checks your status and period of stay; MUFG Bank notes that for residence cards issued on or after 14 June 2026 a passport or residence certificate may also be required |
| Passport | Japan Post Bank says it may ask to see it |
| Proof of address | Residence certificate (juminhyo), or a residence card showing your current address |
| Seal or signature | MUFG requires a registered seal for branch applications (Shachihata-type stamps not accepted); some banks accept a signature from foreign customers |
| Student or employee ID | Japan Post Bank requires it for “Student” and “Technical Intern Training” status holders |
| Japanese mobile number | Commonly used for online-banking verification and bank contact; get one first |
Watch the timing too: Japan Post Bank says that if your period of stay expires within three months of the application date, you must renew it first. MUFG states that foreign nationals cannot open an account through its app and must apply at a branch, ideally with a reservation.
- Register your addressat the city or ward office after arrival
- Get a phone numberfor bank contact and online-banking checks
- Choose a bank and bookbring residence card, passport, seal
- Branch reviewexplain the account’s purpose, your job or school
- Receive passbook/cardthe cash card may be mailed to your registered address later (depends on the bank)
Which bank to choose
Based on the FSA’s bank list published in September 2026, the main options fall into four groups. For salary accounts, renting and related paperwork see our guide to working in Japan and guide to renting in Japan.
| Type | Examples | Suits | Deposit insurance |
|---|---|---|---|
| Megabanks (city banks) | MUFG, SMBC, Mizuho | Employees, people sending money abroad | Covered |
| Japan Post Bank | Post offices nationwide | Students, people outside big cities | Covered |
| Online banks | Rakuten Bank, Sony Bank, etc. | People who already have a Japanese account and want lower fees | Covered |
| Japanese branches of Chinese banks | Bank of China, ICBC, China Construction Bank, Agricultural Bank of China, Bank of Communications (Tokyo) | People with frequent business links to China | Not covered |
Whether an online bank accepts foreign customers, and how long you must have lived in Japan, depends on each bank’s own rules. The Chinese banks are registered and supervised by the FSA as “foreign bank branches”, but according to the Japanese Bankers Association, Japanese branches of foreign banks are not covered by Japan’s deposit insurance.
Deposit insurance: ¥10 million per person per bank
The Deposit Insurance Corporation of Japan protects ordinary deposits up to ¥10 million of principal per depositor per institution, plus interest (about RMB 424,000). “Settlement deposits”, which pay no interest, can be withdrawn on demand and can be used for transfers and direct debits, are protected in full. Foreign-currency deposits are not protected. Japan Post Bank is on the list of covered institutions. If you hold large savings, you can spread them over several banks.
Sending money from China to Japan
The most common case is parents paying tuition and living costs for a student in Japan. China manages individual FX purchases with an annual total of USD 50,000 per person (about RMB 336,000); the State Administration of Foreign Exchange (SAFE) states that purchased foreign currency may not be used for overseas property, securities investment, life insurance or investment-type dividend insurance. For the quota and declaration details, see our guide to China’s personal FX quota.
Once the money reaches Japan, if a single transfer exceeds ¥1 million (about RMB 42,000), the receiving bank reports the sender, recipient and amount to the tax office in a Kokugai Sokin-to Chosho. This is information reporting, not a tax bill; whether large family support raises gift-tax or other issues in Japan depends on your situation, so see our guide to taxes in Japan or ask a licensed tax accountant (zeirishi).
Sending money home from Japan
You can send money to China by bank international transfer (SWIFT) or through a “funds transfer service provider” registered with the FSA. As of 30 September 2026 the FSA’s register includes Wise Payments Japan and SBI Remit, among others. The FSA warns that businesses doing remittances without registration are illegal and must not be used; informal “underground bank” exchanges carry legal risk in both countries.
The Bank of Japan explains that residents must file a “Report on Payments or Receipt of Payments” for any single cross-border payment or receipt above ¥30 million. In China, a recipient converting yen into renminbi is also subject to the USD 50,000 annual personal quota; amounts above it need supporting documents such as proof of overseas wage income.
Carrying cash in and out
| Direction | Rule (as of October 2026) |
|---|---|
| Into or out of Japan | Cash, cheques, securities etc. totalling more than ¥1 million (about RMB 42,000) must be declared to customs in advance on the “Declaration of Carrying Means of Payment”; gold bars of 90% purity or more weighing over 1 kg must also be declared |
| Into or out of China: RMB | Limit of RMB 20,000 per person per trip |
| Into or out of China: foreign currency | Entering with more than USD 5,000 equivalent requires a written declaration; leaving with more than USD 5,000 requires a bank-issued foreign-currency carry permit and a customs declaration, and in principle no more than USD 10,000 equivalent may be taken out |
Visa expiry, closing your account and account selling
Tell your bank promptly after renewing your period of stay. MUFG states in its notices that if the registered expiry date passes without an update, it will restrict transactions under its deposit terms. The FSA advises that, as a rule, you close the account at a branch when returning home; if you plan to come back, talk to the bank first.
Selling or handing over your bankbook or cash card to someone else is a crime. The 2026 amendment to the Act on Prevention of Transfer of Criminal Proceeds raised the penalty for trading bankbooks to up to three years’ imprisonment or a fine of up to ¥5 million (about RMB 212,000) from 10 July 2026, and created a new offence for “remittance part-time jobs”. The FSA warns that foreign nationals involved may also face deportation and entry bans. Students leaving Japan should be especially wary of offers to “sell your card for pocket money before you go home”.
How banks treat gambling transactions
Japan’s National Police Agency states that betting from Japan on an online casino is gambling, a crime, even if the casino is legally run overseas (fine up to ¥500,000; habitual gambling up to three years’ imprisonment), and “payment agents” that collect and pay out for casinos count as part of the operation. In May 2025 the FSA and the police asked banks to stop payments when they find a customer paying an online casino, and at least one bank has announced it may restrict transactions or close accounts as a result. Winnings from public sports such as horse racing and keirin are legal and are taxed as “occasional income” (special deduction up to ¥500,000, then half of the remainder counted as income). For more on the rules, see our guide to gambling law in Japan. Article 303 of China’s Criminal Law also targets organising gambling and recruiting PRC citizens to gamble abroad, and the USD 50,000 FX quota may not be used for overseas gambling.
For more on living in Japan and planning your status, go back to our Japan hub or read the Japan visa guide. The FSA’s page for foreign residents (Living in Japan) offers account and remittance leaflets in more than a dozen languages.
FAQ
Can I open an account within six months of arriving?
You can try, but under the Foreign Exchange Act you may count as a non-resident, so a bank may open only a restricted account or review transfers more strictly. Japan Post Bank has announced that from 4 January 2027, counter transfers for non-residents that need detailed review will cost ¥7,500 each (about RMB 318).
Can I open an account at Bank of China’s Tokyo branch?
Bank of China, ICBC and three other Chinese banks have branches in Tokyo and you can ask about personal services, but remember their deposits are not protected by Japanese deposit insurance.
Is there tax on sending yen home?
The transfer itself creates no tax; the overseas remittance report simply gives the tax authorities information. What matters is whether your income was properly taxed in Japan.
Can I keep using my account after going home?
As a rule you should close it. If you want to keep it, check with the bank first, or transactions may be restricted once your period of stay expires.
Exchange rate note: China Foreign Exchange Trade System (CFETS) RMB central parity on 28 October 2026: ¥100 = RMB 4.2434; USD 1 = RMB 6.7165.
Sources
- FSA: Bank accounts and remittances for foreign residents (accessed October 2026)
- FSA: Leaflet on bank accounts and remittances for foreign nationals (accessed October 2026)
- FSA: Lists of licensed and registered firms (banks, foreign bank branches, funds transfer providers) (accessed October 2026)
- Deposit Insurance Corporation of Japan: Scope of protected deposits (accessed October 2026)
- Deposit Insurance Corporation of Japan: Covered institutions (accessed October 2026)
- Japanese Bankers Association: Explainer on deposit insurance (accessed October 2026)
- National Tax Agency Report 2023: Overseas remittance reports (accessed October 2026)
- National Tax Agency Tax Answer No.1490: Occasional income (accessed October 2026)
- Bank of Japan: FAQ on reports of payments and receipts (accessed October 2026)
- Japan Customs Answer 7305: Carrying cash out of or into Japan (accessed October 2026)
- Japan Post Bank: Domestic transfers involving non-residents (accessed October 2026)
- Japan Post Bank: Opening a personal account (accessed October 2026)
- MUFG Bank: Opening an account (accessed October 2026)
- MUFG Bank: Notice on period of stay (accessed October 2026)
- House of Councillors, Rippo to Chosa 2026: Amendment to the Act on Prevention of Transfer of Criminal Proceeds (accessed October 2026)
- Kanagawa Prefectural Police: Tougher penalties for account selling (accessed October 2026)
- National Police Agency: Gambling at online casinos is a crime (accessed October 2026)
- FSA and NPA: Request to banks on online casino payments (14 May 2025) (accessed October 2026)
- Example bank notice on online casino payments (July 2025) (accessed October 2026)
- SAFE Beijing: FAQ on personal foreign exchange (accessed October 2026)
- SAFE and General Administration of Customs: Interim Measures on Carrying Foreign Currency Cash (accessed October 2026)
- Chinese Consulate-General in Belfast: Rules on carrying cash and goods (accessed October 2026)
- Xinhua: RMB central parity rates, 28 October 2026 (accessed October 2026)
