automatic wire transfers between Current, saving and NISA

[Petronius]

Hello,

I am trying to automate as much as possible my monthly savings.
Is there any way to automatically transfer money every month from SBI current account to SBI hybrid account?
Is there any way to automatically transfer money every month from Shinsei current account to Shinsei Power Yokin?

Thank you

[RetireJapan]

It's a good idea to automate things

You should be able to set up automatic purchases of mutual funds (tsumitate order), and there should be an option to draw the funds from a bank account.

Not sure about the Shinsei one though...

[Petronius]

Thanks for your help.
I have an automatic purchase of the investment vehicles I want but the money is taken from the SBI hybrid account.
I can also have money automatically transferred to my SBI current account.
I still have to manually transfer money from the SBI current to the SBI Hybrid accounts.

[RetireJapan]

You're right! I just checked SBI and there doesn't seem to be a way to do that. You can do it with Monex though, and Rakuten.

Rakuten:
https://ibb.co/3MXKfj8

Monex:
https://ibb.co/8dJcX8F

[adamu]

It seems kind of roundabout, but if you furikomi direct to your securities account, it will automatically sweep the balance into your hybrid account the next working day, minus any funds reserved for existing orders.

Confirmed in the 2nd point of this FAQ article:
https://faq.sbisec.co.jp/faq_detail.html?id=24870

As a side note, I found out while researching this that the hybrid account pays 10 times the interest of the standard savings account, a total of... 0.01%

[Petronius]

Thank you for the help.
So my best option is to have SBI automatically pull the money from Shinsei to the SBI current account (free) and then log in to SBI and furikae the money to the hybrid account. Times 2 as I also manage my wife's NISA.
Wiring money from Shinsei to the hybrid account counts against Shinsei free transfers.

[adamu]

How do you get SBI to "pull" money from Shinsei. If you can do that from the bank account, can you do it from the securities account instead?

[Petronius]

Sadly not, it only works for the SBI current account.

[Yokohama]

I have this fully automated at SBI.

I'm using this service to have money automatically transferred from my bank account to my SBI hybrid account directly each month.

And I have configured SBI to buy a certain number of funds each month (under 積立買付).

The disadvantage of using that service is that it takes about 2 weeks before the money taken out of your bank account appears in SBI. In my case, every month on the 27th money is taken out of my account by that service, and it appears in my SBI account around the 14~15th next month. Funds are configured to be purchased on the 16th every month. The delay is stupid, but at least it is fully automated.

[RetireJapan]

Given how competitive the online brokers are, I would be surprised if SBI doesn't start an automatic bank withdrawal to match Monex and Rakuten at some point.