Bank recommendations for small business (GK)

[cocacola]

Hello,

I am just starting up a small business and registering it as 合同会社 (goudougaisha).

I'd like some recommendations on banks to open business accounts with. Good experiences? Bad ones? How are the credit cards available with that bank? Any good?

Thanks for any suggestions!

[KyushuWoozy]

We went with Rakuten for our godo-gaisha. It's okay not perfect but at least we don't have to go to the branch because it's all online. We got debit card with account opening, refused Rakuten credit first time around but accepted at second time of asking.

Good luck with your business - what is it?

[cocacola]

Thanks for the suggestion, I will check Rakuten out. All of my bank accounts are with the big-names, so they have physical locations. No problems with the bank being all online?

Oh, also, I will be charging clients in USD... pretty sure Rakuten could facilitate that, but just making sure. All good there?

As for my business, it's a consulting business for technology/digital art. Getting tired of hearing stories of my friends back home making so much income, and working so much less...! One of the good points about the shift to telework, I guess.

How about your business?

[KyushuWoozy]

I will be charging clients in USD... pretty sure Rakuten could facilitate that, but just making sure. All good there?

Don't know; we always invoice in JPY but I'm pretty sure it wouldn't be a problem.

it's a consulting business

I guess you've done your research as to whether company vs sole proprietor is best option.

We're a travel agency, which is why we opened the company - it's required for a travel agency licence.

Good luck!

[AreTheyTheLemmings?]

consulting business for technology/digital art.

Would it be inappropriate for me to ask what that job entails? I work in a completely different sphere so I am struggling to imagine what "consulting business for technology/digital art" might actually mean in terms of day-to-day work.

[Yossarian]

Oh, also, I will be charging clients in USD... pretty sure Rakuten could facilitate that, but just making sure. All good there?

I charge in USD. Clients pay in to a Wise US account and then I transfer to Japanese bank. Works well.

When charging in USD, bookkeeping can be a bit of a pain. You need to register the rate at the time of issuing your invoice and again at the time of the money hitting your bank. Any difference has to be recorded as profit or loss.

I only have around 2 or 3 invoices a month so it's easy. If you'll have more than that, just something to be aware of

[Yossarian]

Would it be inappropriate for me to ask what that job entails? I work in a completely different sphere so I am struggling to imagine what "consulting business for technology/digital art" might actually mean in terms of day-to-day work.

Nice to meet a fellow copywriter. I'm only in my 2nd year though

[cocacola]

When charging in USD, bookkeeping can be a bit of a pain. You need to register the rate at the time of issuing your invoice and again at the time of the money hitting your bank. Any difference has to be recorded as profit or loss.

Ohh, I wasn't aware of that. Very good to know. Thanks!!

[Yossarian]

Also, are you sure you need a GK? If you're consulting, sole proprietorship might be enough? Super easy to set up

[cocacola]

Hi,

I was looking into Rakuten bank, and other possibles for a business account... however, since this is my first business, and I have not yet dealt with invoicing international clients, I am wondering if I should also be thinking about making it easy for my clients to make their payments.

Should I be thinking about services like Square, Stripe, or Wise? I believe these services make it very easy for making payments, as I have also had to pay for services through them... they are, indeed, quick and simple. But are there any limits to these services, such as limits to transaction amounts, or limits to amounts transacted per month? I'd like to make it as simple for clients to make payments as possible, while also not limiting my business.

Or am I overthinking this?

If I gave a client my regular business bank account information (like a Rakuten bank business account), I feel that it would be quite cumbersome to make international payments online (through their bank's online service), and especially if they need to actually go to their bank. Fees for international transfers would probably be pretty icky for this, as well.

Any experience using payment services like Square, Stripe, or Wise? Any others I should look into? If you have any experience, I'd really appreciate knowing your opinions.

Thanks!