Simple Q&A - NISA

[zeroshiki]

Quick question regarding Rakuten securities.
My first tsumitate NISA order finally went through after a long wait and several name related problems

Last month I set my tsumitate for the 24th of every month, so today I went to check my rakuten securities account and the money is already in there, but the tsumitate NISA amount its still at 0. Do I need to do anything else after the money enters the rakuten platform, or just have to wait until the system is updated?

Its not a problem. Rakuten takes the money from your account in preparation of buying it. It takes a few days (2-3 work days) to buy a mutual fund so you should be good to go around Wednesday.

[zeroshiki]

Hello again!

I'd like to express my appreciation for this website and this forum specifically. It has been a godsend! The users have all been very helpful as well.

I have another question for you people and it involves problems with my name. I have a NISA account with Monex (my iDECO is still being processed, but I think it will fail, vide below).

My Monex account name is [Surname] [Given nameMiddle name]. My bank account name is [Surname] [Middle name] [Given name] (on the card is in カタカナ). That obviously creates a problem: I'm not able to transfer funds.

According to TokyoWart:
"Because of this name problem I cannot do online transfers from my bank to Monex but there are two workarounds:

1. When I do a "furikomi" using an atm at my bank to my Monex account I have to change the katakana spelling of my name in the ご依頼人 field so that it is identical to what is recorded at Monex. When I do that the transfer goes through without trouble.

2. Another workaround is to get a Monex Saison Visa credit/cash card and use it to deposit cash directly into your Monex account."

I guess I could do #1 every month and so far sounds like the most practical option. #2 Is no longer available because they will discontinue the service this November 30th.

Now I could try to change my name order at my bank, but from what I understand, MUFJ only changes the surname https://www.bk.mufg.jp/tsukau/tetsuduki/name/index.html via its app. I'm not sure about in person at the branch https://www.tr.mufg.jp/ippan/tetsuzuki/ ... _qa07.html
If successful, that would create a lot of headaches (utilities, credit card, etc.)
Or I could just create a new account at another bank with the correct order matching Monex and transfer money to that new account from MUFJ every month.

So, is it possible to change banks associated with my NISA account? In the FAQ, there is no information about that, only about changing securities institutions (e.g. Monex > SBI). Would I have to close my NISA and start from scratch?

Any insight you people can provide will be greatly appreciated!

I don't know specifically for Money but NISA isn't really anything special, its just a account type. Changing the source bank account shouldn't have any problems.

[pfdsa]

Quick question regarding Rakuten securities.
My first tsumitate NISA order finally went through after a long wait and several name related problems

Last month I set my tsumitate for the 24th of every month, so today I went to check my rakuten securities account and the money is already in there, but the tsumitate NISA amount its still at 0. Do I need to do anything else after the money enters the rakuten platform, or just have to wait until the system is updated?

Its not a problem. Rakuten takes the money from your account in preparation of buying it. It takes a few days (2-3 work days) to buy a mutual fund so you should be good to go around Wednesday.

Thank you for the reply!

[Moggy_the_cat]

Hello again!

I'd like to express my appreciation for this website and this forum specifically. It has been a godsend! The users have all been very helpful as well.

I have another question for you people and it involves problems with my name. I have a NISA account with Monex (my iDECO is still being processed, but I think it will fail, vide below).

My Monex account name is [Surname] [Given nameMiddle name]. My bank account name is [Surname] [Middle name] [Given name] (on the card is in カタカナ). That obviously creates a problem: I'm not able to transfer funds.

According to TokyoWart:
"Because of this name problem I cannot do online transfers from my bank to Monex but there are two workarounds:

1. When I do a "furikomi" using an atm at my bank to my Monex account I have to change the katakana spelling of my name in the ご依頼人 field so that it is identical to what is recorded at Monex. When I do that the transfer goes through without trouble.

2. Another workaround is to get a Monex Saison Visa credit/cash card and use it to deposit cash directly into your Monex account."

I guess I could do #1 every month and so far sounds like the most practical option. #2 Is no longer available because they will discontinue the service this November 30th.

Now I could try to change my name order at my bank, but from what I understand, MUFJ only changes the surname https://www.bk.mufg.jp/tsukau/tetsuduki/name/index.html via its app. I'm not sure about in person at the branch https://www.tr.mufg.jp/ippan/tetsuzuki/ ... _qa07.html
If successful, that would create a lot of headaches (utilities, credit card, etc.)
Or I could just create a new account at another bank with the correct order matching Monex and transfer money to that new account from MUFJ every month.

So, is it possible to change banks associated with my NISA account? In the FAQ, there is no information about that, only about changing securities institutions (e.g. Monex > SBI). Would I have to close my NISA and start from scratch?

Any insight you people can provide will be greatly appreciated!

Quick update:
Went to MUFJ to try and change my account's name so it would match. It actually is possible but instead of doing it at the 窓口 the lady had me go inside one of those テレビ窓口. They updated the whole setup: there is a printer under the table, a touch-sensitive monitor with a webcam, and a weird-looking scanner that also automatically retains any forms the bank might need to keep a copy of.

It took a while to get called by an operator but I successfully updated my name to ローマ字 and カタカナ.
The whole thing took about an hour and a half, but that is due to my intermediate level Japanese and/or how busy their system was at the time.
They also asked if I wanted to reissue new banking and debit cards. I opted for not reissuing anything because I would be unable to use them for about a week or so, though it would be gratis.
The name change should take effect between one and two weeks. So that means I'll wait about that before resending my iDECO forms to Monex (as expected it failed) or trying to set up the tsumitate thing for my NISA.

Anyway, thanks to Zeroshiki for his prompt answer. Cheers mate!

[John_conner]

We it comes to the NISA and buying the emaxis with Rakuten your order can only go through on two dates a month. So I wondering do this effect the risk depending on how the fund is doing at that point in time?

[KCLenny]

We it comes to the NISA and buying the emaxis with Rakuten your order can only go through on two dates a month. So I wondering do this effect the risk depending on how the fund is doing at that point in time?

Huh is that the case? I thought I set up my emaxis slim all country to go on a date that I chose myself out of all possible dates. Or are slim funds different?

[zeroshiki]

You can set it up to buy on any date you want unless you're using a CC which forces you to lock in your purchase every 15th of the month and then buys the fund on the 8th (Rakuten).

Also, the idea is dollar cost averaging and to think long term (Tsumitate Nisa is 20 years) so you shouldn't worry about what the current value of the fund is nor should you worry about daily fluctuations.

[pfdsa]

You can set it up to buy on any date you want unless you're using a CC which forces you to lock in your purchase every 15th of the month and then buys the fund on the 8th (Rakuten).

Maybe that’s the case with Rakuten Bank?
I’m using my JP Post bank account on rakuten securities (tsumitate nisa) and could only choose between two dates too.

[John_conner]

You can set it up to buy on any date you want unless you're using a CC which forces you to lock in your purchase every 15th of the month and then buys the fund on the 8th (Rakuten).

Maybe that’s the case with Rakuten Bank?
I’m using my JP Post bank account on rakuten securities (tsumitate nisa) and could only choose between two dates too.

Ah maybe that why. Im with JP bank too.

[Ichigo]

I have a question on reserve purchase date (積立買付日) and actual withdrawal date (引落日（原則）) regarding Tsumitate Nisa (using Monex).

Let's say my reserve purchase date is on the 15th every month, the fund I want to buy is worth 15,000 Y, but on the actual withdrawal date it has risen to 16.000 Y. Will I get charged the higher amount on the actual withdrawal date?

I was wondering if it is possible in Tsumitate Nisa to purchase (reserve) more when a fund goes slightly down? Or am I not able to control that?

As an example: Today I noticed my fund went down significantly and I want to buy more. Since I have a lot of my Tsumitate Nisa allowance left, I want to use the bonus option and invest 200,000 Y with my next payment. If I select today's date as reserve purchase date, is that lower price guaranteed, because it was "reserved" for that price? Sorry for the silly question

Thank you!