Nisa noob here. Which provider should I choose?

[Block]

Hello all. Nisa noob here.

I've heard some of the popular providers are Rakuten, ISB and Monex.

But, can someone recommend who I should go with for a Tsumate Nisa.

I'm planning to live in Japan permanently, so, I will be using it for a long time.

Thank you.

[RetireJapan]

Rakuten, Monex, and SBI are very similar and I don't think there is an obvious better option.

I personally use Rakuten. All of them are fine choices.

(the RetireJapan YouTube channel has some walkthroughs of how to use the Rakuten site)

[sutebayashi]

Yeah I am a happy enough Monex user. But for Nisa, any will be similar.

You might have a poke around on each of the websites and see what they are promoting that might suit you. For example, I have an SBI net bank account that could be handy with SBI securities for some specific purposes, but Monex is where I started and haven’t had reason to switch.

You can even just open securities accounts with all 3, and if any of them give you hassles because of your name or whatever, eliminate them from consideration then

But you can only have your nisa with a single provider. If you do want to change provider in future, I believe you can do that, although I have never done it.

[TokyoBoglehead]

I have all 3, Rakuten, Kakaku and Monex.

They are all decent. What bank do you use, and which credit cards do you have? That will make the decision easier, as there are benefits by linking the different institutions.

Rakuten - Rakuten Card - Rakuten Bank
Monex - Separate Monex Card - Shinsei Bank
SBI - Any SMBC card - SBI Net Bank

[Block]

Thanks for all the replies. I appreciate it.

I have all 3, Rakuten, Kakaku and Monex.

They are all decent. What bank do you use, and which credit cards do you have? That will make the decision easier, as there are benefits by linking the different institutions.

Rakuten - Rakuten Card - Rakuten Bank
Monex - Separate Monex Card - Shinsei Bank
SBI - Any SMBC card - SBI Net Bank

I currently don't bank with any of the ones you mentioned. Could you tell me more about the benefits of linking the different institutions.

I bank with Japan post bank and I don't have any credit cards. also I read somewhere on here that Japan posts NISA wasn't very good.

Thank you.

[TokyoBoglehead]

Thanks for all the replies. I appreciate it.

I have all 3, Rakuten, Kakaku and Monex.

They are all decent. What bank do you use, and which credit cards do you have? That will make the decision easier, as there are benefits by linking the different institutions.

Rakuten - Rakuten Card - Rakuten Bank
Monex - Separate Monex Card - Shinsei Bank
SBI - Any SMBC card - SBI Net Bank

I currently don't bank with any of the ones you mentioned. Could you tell me more about the benefits of linking the different institutions.

I bank with Japan post bank and I don't have any credit cards. also I read somewhere on here that Japan posts NISA wasn't very good.

Thank you.

Investing with a credit card gets you free points, those points can be invested. Basically - free money. (Assuming you pay off your credit card every month on time).

SBI Securities and SBI Bank share the same account between them, so it is incredibly easy to invest without transfering money.

Rakuten, the more you buy into their ecosystem, the more point your earn.

Monex and Shinsei, your Trust holdings count towards your bank balance, so if you have 10 million invested, you qualify for the highest level of account status, and all the perks that go with it.

[goodandbadjapan]

Thanks for all the replies. I appreciate it.

I have all 3, Rakuten, Kakaku and Monex.

They are all decent. What bank do you use, and which credit cards do you have? That will make the decision easier, as there are benefits by linking the different institutions.

Rakuten - Rakuten Card - Rakuten Bank
Monex - Separate Monex Card - Shinsei Bank
SBI - Any SMBC card - SBI Net Bank

I currently don't bank with any of the ones you mentioned. Could you tell me more about the benefits of linking the different institutions.

I bank with Japan post bank and I don't have any credit cards. also I read somewhere on here that Japan posts NISA wasn't very good.

Thank you.

You can link your post office account to SBI easily enough. Actually, think you can link any bank account to it. My wife has post office linked to hers, I have a local bank linked to mine.

TokyoBoglehead - are the benefits to do with points and things? I don't have my credit cards linked to mine at all (as far as I remember).

Edit to add : think we just posted at same time. You've answered me above!

[zeroshiki]

Other than points, it's more convenient to do auto sweep. For example, on Rakuten if you use Rakuten Bank, making a purchase automatically grabs the money from your bank account. For other banks, I think there's no auto sweep and you'd have to fund your Rakuten Securities account manually (or if there's a sweep feature like in Monex, they do it at fixed intervals and not "real time")

[TokyoBoglehead]

Other than points, it's more convenient to do auto sweep. For example, on Rakuten if you use Rakuten Bank, making a purchase automatically grabs the money from your bank account. For other banks, I think there's no auto sweep and you'd have to fund your Rakuten Securities account manually (or if there's a sweep feature like in Monex, they do it at fixed intervals and not "real time")

SBI has the best version of this IMO. Their Hybrid account system. Basically an account that is shared and instantly reflect on both the bank and securities end.

However, if you do not want to Faf, Rakuten, SBI and Monex all have free, basically instant sweeps with most banks. Even good old Yucho.

[Block]

Thank you for the information TokyoBoglehead.

I've decided to go with Rakuten.