Shinsei's Step-Up Program status post Monex transfer (and how to get it if you don't already)

[mighty58]

Actually I just had a look at this and according to my Shinsei account it is no longer possible to open a NISA or taxable account with them. Wonder if it will be possible to link Monex accounts to them after the move in January?

Ah... I guess they must have closed the window already then. Apologies! Perhaps this thread to avoid wasting anyone else's time inadvertently.

[RetireJapan]

Yeah, the 1m yen in investments to keep Gold status looked like a good option. Hopefully there will be a way to link Monex up after January.

[Tony]

Yeah, I applied to open an account sometime last week, and just got an email saying that something was wrong with my application. When I called up to ask, they told me that due to the migration to Monex, you can't open a new account this year, but you should be able to from Jan 4 next year.

[TJKansai]

I scored an own goal. When I paid off my house loan I lost my 4 free monthly furikomi benefit at Mizuho. Prestia Gold gives my wife's account free transfers and ATMs, so we'll probably just make that our main bank for such occasions.

[zeroshiki]

Prestia has unlimited transfers to SMBC accounts (I think that's a thing) but I moved my salary account from Prestia to Rakuten this year because of the Rakuten Securities synergy. Rakuten Bank also gives you 3 free transfers if you make it your salary account plus it has the highest interest rate in savings (0.1% so still basically 0)

[Snowmonkey]

I liked them when they offered free ATM withdrawals.

Is there any real benefit to this gold/platinum status?

I like to hold the platinum status just for the free international transfer once a month. Once your accounts abroad are registered, it's dead easy to use. Registering the accounts though was a real pain. Also, I feel their exchange rates are very competitive.

[Wales4rugbyWC23]

I liked them when they offered free ATM withdrawals.

Is there any real benefit to this gold/platinum status?

I like to hold the platinum status just for the free international transfer once a month. Once your accounts abroad are registered, it's dead easy to use. Registering the accounts though was a real pain. Also, I feel their exchange rates are very competitive.

I would second that. Shinsei are relatively competitive on exchange rates, but don't let your foreign currency transfer account expire for non-usage (2 years I think). Then you have to go through the re-registering process again.

[mighty58]

Revisiting this old thread, but as of May 1, Shinsei has started their revised program, and I can confirm that my Monex balance has given me the new Diamond status at Shinsei. 50 free furikomi's/month! Not sure what to do with that
Monex also now allows for instant remittances (出金) to all Shinsei accounts, free of charge (used to be 300yen). Monex has even improved the Coincheck connection, so I've been converting all my Monex points to crypto now as well. Funny how my three (independently created) accounts have all come tied together after all these years... I'm not used to actually getting good service from Japanese financial institutions.

[Haystack]

Revisiting this old thread, but as of May 1, Shinsei has started their revised program, and I can confirm that my Monex balance has given me the new Diamond status at Shinsei. 50 free furikomi's/month! Not sure what to do with that
Monex also now allows for instant remittances (出金) to all Shinsei accounts, free of charge (used to be 300yen). Monex has even improved the Coincheck connection, so I've been converting all my Monex points to crypto now as well. Funny how my three (independently created) accounts have all come tied together after all these years... I'm not used to actually getting good service from Japanese financial institutions.

Quick question, is Shinsei a good choice as a secondary bank account?

I have Yucho, and Rakuten Sec/Monex.

However, if I need to receive larger sums from abroad Yucho does not seem like a great choice. I wonder if it would be worth it to set-up a Shinsei accunt and link it to Monex?

[zeroshiki]

I personally think its always a good idea to have an account with a megabank (unless you don't live in a big city) because lotsa systems (utilities and the like) out there that only work with megabanks.

Shinsei is popular with the expat community because of English support and the free withdrawals so if you only have a Yucho account, it would be superior.