How to put money into Junior NISA?

[Tomthumb16]

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.

Thanks. Seems I misunderstood about needing a SBI Hybrid account. How easy is it and what are the advantages to having a post office account rather than a regular bank account?

[RetireJapan]

Thanks. Seems I misunderstood about needing a SBI Hybrid account. How easy is it and what are the advantages to having a post office account rather than a regular bank account?

I don't think it makes much difference.

[robster]

You will probably just find that it is simpler and quicker opening up a Yucho account for your kid, the requirements are fairly low. Don't even need to bring the kid along with you. Do note : while Japanese nationals can use the online application form for their kids, foreigners cannot, even if the kid has a Japanese passport - you need to fill in the paper form which you can get at the post office counter.
Post office staff were helpful about the usual rigmarole of kana/romaji requirements.

[Leafs_Raps]

Afraid not. The money must come from the child's account.

Hello everyone,

I have actually been sending money from my SMBC account to both my child's and wife's SBI NISA accounts (junior & tsumitate) for the past few years without any issue. I use the SMBC mobile app. The only thing that you must do differently is change the 依頼人名 from your name to the name of your child or partner. We first started doing this to avoid paying the transfer fees you incur when sending money from a resona bank account to an SBI account. (My wife deals with resona.) When I called to complain about this, the agent taught me this simple trick and we have never had an issue since.

I hope this helps.

[RetireJapan]

I have actually been sending money from my SMBC account to both my child's and wife's SBI NISA accounts (junior & tsumitate) for the past few years without any issue. I use the SMBC mobile app. The only thing that you must do differently is change the 依頼人名 from your name to the name of your child or partner. We first started doing this to avoid paying the transfer fees you incur when sending money from a resona bank account to an SBI account. (My wife deals with resona.) When I called to complain about this, the agent taught me this simple trick and we have never had an issue since.

OOOOOOH. I am going to try this next time

[Tomthumb16]

Afraid not. The money must come from the child's account.

Hello everyone,

I have actually been sending money from my SMBC account to both my child's and wife's SBI NISA accounts (junior & tsumitate) for the past few years without any issue. I use the SMBC mobile app. The only thing that you must do differently is change the 依頼人名 from your name to the name of your child or partner. We first started doing this to avoid paying the transfer fees you incur when sending money from a resona bank account to an SBI account. (My wife deals with resona.) When I called to complain about this, the agent taught me this simple trick and we have never had an issue since.

I hope this helps.

Top tip. Thank you.

[Tomthumb16]

You will probably just find that it is simpler and quicker opening up a Yucho account for your kid, the requirements are fairly low. Don't even need to bring the kid along with you. Do note : while Japanese nationals can use the online application form for their kids, foreigners cannot, even if the kid has a Japanese passport - you need to fill in the paper form which you can get at the post office counter.
Post office staff were helpful about the usual rigmarole of kana/romaji requirements.

Thank you.

[crew]

I am finding this rather frustrating. All these banks say you can start a Junior NISA account from the moment your child is born. Then also tells you in the fine print that to put money into the account you need to do so from the child's bank account. Then to open a child's bank account he needs to be at least 15 years old!

Any recommendations on banks I can open a child less than 15 years old's bank account, particularly those I can do fully online? Oh and if I can have a central page to manage all accounts (I have a lot of kids!)

[TokyoWart]

I am finding this rather frustrating. All these banks say you can start a Junior NISA account from the moment your child is born. Then also tells you in the fine print that to put money into the account you need to do so from the child's bank account. Then to open a child's bank account he needs to be at least 15 years old!

Any recommendations on banks I can open a child less than 15 years old's bank account, particularly those I can do fully online? Oh and if I can have a central page to manage all accounts (I have a lot of kids!)

We had no trouble opening bank accounts for our kids at the postal bank while they were very young and those were the bank accounts we linked to their Junior NISA accounts.

[Kanto]

I am finding this rather frustrating. All these banks say you can start a Junior NISA account from the moment your child is born. Then also tells you in the fine print that to put money into the account you need to do so from the child's bank account. Then to open a child's bank account he needs to be at least 15 years old!

Any recommendations on banks I can open a child less than 15 years old's bank account, particularly those I can do fully online? Oh and if I can have a central page to manage all accounts (I have a lot of kids!)

We had no trouble opening bank accounts for our kids at the postal bank while they were very young and those were the bank accounts we linked to their Junior NISA accounts.

With a copy of your family register, you can get them all Yucho accounts in half an hour or so.

They will all need separate security accounts, which will be linked to your Securities account. The process takes a bit of time to process. I would do it NOW so you can make use of this year's j-Nisa allotment.

Luckily signing up for the J-Nisa with Rakuten (or the like) creates a J-nisa and taxable account at the same time. Very handy.

I suggested using a password manager, it makes all this data easy to manage securely.