How to put money into Junior NISA?

mule96 · Post by **mule96** » Mon Sep 14, 2020 4:05 am

I plan to open a Junior Nisa account later this year for our to be born child. As mentioned here you need to link it to a minor/child account. SBI doesnt support it, UFJ seems to want an inkan for the minor account. Are there any recommendations for a bank for a child, that doesnt rely on inkan banking?

YouTube · Post by **RetireJapan** » Mon Sep 14, 2020 4:07 am

My granddaugher opened a Rakuten Bank account along with the Rakuten Junior NISA and it has bee pretty smooth so far.

Kanto · Post by **Kanto** » Mon Sep 14, 2020 4:25 am

I recommend getting a Yucho account. It will probably be more convenient for your kid in the future. All you need is a Koseki, or something similar.

mule96 · Post by **mule96** » Mon Sep 14, 2020 4:38 am

Thanks for both feedbacks! Yucho does require an inkan though?

Ori · Post by **Ori** » Mon Sep 14, 2020 6:25 am

I opened junior account in MUFJ and they didn't ask for incan.
So depends on the branch or even the teller, I guess. And the same might apply to other banks as well...

Moneymatters · Post by **Moneymatters** » Mon Sep 14, 2020 6:53 am

mule96 wrote: ↑Mon Sep 14, 2020 4:38 am Thanks for both feedbacks! Yucho does require an inkan though?

The yuucho bank FAQ is worse than useless.

https://woman-money.nifty.com/kaji/detail/3119_1.htm

That seems to say it's OK to use the parent's inkan if that helps.

Kanto · Post by **Kanto** » Mon Sep 14, 2020 10:01 am

Moneymatters wrote: ↑Mon Sep 14, 2020 6:53 am
mule96 wrote: ↑Mon Sep 14, 2020 4:38 am Thanks for both feedbacks! Yucho does require an inkan though?
The yuucho bank FAQ is worse than useless.

https://woman-money.nifty.com/kaji/detail/3119_1.htm

That seems to say it's OK to use the parent's inkan if that helps.

Parents Inkan and a family registry document, (Koseki or Similiar).

Yucho does not charge anything, and you do no need to deposit anything.

It took 15 minutes.

mule96 · Post by **mule96** » Mon Sep 14, 2020 1:07 pm

Thanks a lot - I checked the official faq, but the website linked is what I waslooking for.

Tomthumb16 · Post by **Tomthumb16** » Mon Feb 08, 2021 11:31 pm

Good Morning Everyone!
I have opened up a SBI Junior Nisa account for my 1 year old as well. Since last October you can no longer deposit money directly into SBI with a ATM card. You need to open a SBI Hybrid account first which is fine for adults but it says I can not open up a Hybrid account for a minor.

So if i do open up a post office account for my kid how can I deposit it into Junior Nisa??? Is it possible to deposit it directly into junior Nisa without having a hybrid account???
SBI seems to have outdone itself this time!!!

Thanks in advance

YouTube · Post by **RetireJapan** » Tue Feb 09, 2021 12:05 am

Tomthumb16 wrote: ↑Mon Feb 08, 2021 11:31 pm Good Morning Everyone!
I have opened up a SBI Junior Nisa account for my 1 year old as well. Since last October you can no longer deposit money directly into SBI with a ATM card. You need to open a SBI Hybrid account first which is fine for adults but it says I can not open up a Hybrid account for a minor. So if i do open up a post office account for my kid how can I deposit it into Junior Nisa??? Is it possible to deposit it directly into junior Nisa without having a hybrid account???
SBI seems to have outdone itself this time!!!

Thanks in advance

You need an account in the child's name, and then any money has to go into that account first, then be transferred from there to the broker.

RetireJapan

How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?

Re: How to put money into Junior NISA?