Does the bank you use for your NISA matter?

[Roger Van Zant]

Here's the situation:

I use SBI for my NISA, and I only invest in the eMAxis Slim All Country.
The 運用管理費用 is 0.05775% per year.
There is no 購入時手数料.

A friend uses a local bank in Kyushu, 熊本銀行, for his NISA.
He invests in this fund : https://shorturl.at/jxzUW
The 運用管理費用 is 1.639% per year.
The 購入時手数料 is 3.30%.

I recommened to my friend to switch from this Fidelity fund to the eMaxis one.
熊本銀行 also offers the eMaxis Slim All Country.

My friend wants to copy me as much as possible and so is asking if they should switch their NISA to SBI from January next year.
My advice is that, since 熊本銀行 also offers the eMaxis Slim All Country, they might as well just stick with their current bank and just switch to purchasing the eMaxis from next month.

But I got to thinking about the bank's (熊本銀行/SBI) own fees.
How much is SBI charging me each month? Presumably they must be making money off me somehow....
Or is SBI's "take" included in that 0.05775% figure?

If 熊本銀行 is charging more than SBI, then I would also advise my friend to switch to SBI from 2025.
If not, might as well just stick with their current bank.
But I have no idea how to check each bank's own fees....

Any advice/insights?

Also, just to add, what does 信託財産留保額 mean?
Both the Fidelity and the eMaxis fund say ありません for this, but still I would like to know.

[zeroshiki]

In your case, you're dealing with 2 companies (or divisions).

SBI Bank and SBI Securities. In your friend's case, it's the investment arm of Kumamoto bank. SBI Bank doesn't make money off of you other than maybe transfer fees (although I assume those are free with SBI Securities) because they're just holding onto your money like a bank. As you can tell Kumamoto bank is taking your friend for a ride so moving to a low cost broker is probably a good idea (they can keep their money in Kumamoto bank if that's what they want).

[Roger Van Zant]

In your case, you're dealing with 2 companies (or divisions).

SBI Bank and SBI Securities. In your friend's case, it's the investment arm of Kumamoto bank. SBI Bank doesn't make money off of you other than maybe transfer fees (although I assume those are free with SBI Securities) because they're just holding onto your money like a bank. As you can tell Kumamoto bank is taking your friend for a ride so moving to a low cost broker is probably a good idea (they can keep their money in Kumamoto bank if that's what they want).

Isn't it Fidelity which is taking him for a ride, as opposed to 熊本銀行?
Does it even make a difference to switch to SBI証券?
If he can buy eMaxis through 熊本銀行, there's no merit in switching to SBI証券, right?
He would also have to wait until October this year to apply to move his NISA to SBI証券 from 1/1/2025.
Whereas by sticking with 熊本銀行, he could just start buying eMaxis from next month....

Sorry if I am missing something.

[zeroshiki]

In your case, you're dealing with 2 companies (or divisions).

SBI Bank and SBI Securities. In your friend's case, it's the investment arm of Kumamoto bank. SBI Bank doesn't make money off of you other than maybe transfer fees (although I assume those are free with SBI Securities) because they're just holding onto your money like a bank. As you can tell Kumamoto bank is taking your friend for a ride so moving to a low cost broker is probably a good idea (they can keep their money in Kumamoto bank if that's what they want).

Isn't it Fidelity which is taking him for a ride, as opposed to 熊本銀行?
Does it even make a difference to switch to SBI証券?
If he can buy eMaxis through 熊本銀行, there's no merit in switching to SBI証券, right?
He would also have to wait until October this year to apply to move his NISA to SBI証券 from 1/1/2025.
Whereas by sticking with 熊本銀行, he could just start buying eMaxis from next month....

Sorry if I am missing something.

So theoretically the broker could charge you fees but I checked and Kumamoto bank doesn't charge it for the Tsumitate NISA funds. So you're correct.

[Roger Van Zant]

Okay, thanks for the confirmation.
Incidentally, can you link to the page which shows that Kumamoto bank doesn't charge for the Tsumitate-NISA?
I couldn't find it.

[zeroshiki]

Okay, thanks for the confirmation.
Incidentally, can you link to the page which shows that Kumamoto bank doesn't charge for the Tsumitate-NISA?
I couldn't find it.

It's on this page, towards the middle. Search for "購入手数料が0円"

https://www.kumamotobank.co.jp/personal ... taku/nisa/

Interesting that they only say this for Tsumitate NISA and not Growth NISA.

[Roger Van Zant]

Okay, thanks for the confirmation.
Incidentally, can you link to the page which shows that Kumamoto bank doesn't charge for the Tsumitate-NISA?
I couldn't find it.

It's on this page, towards the middle. Search for "購入手数料が0円"

https://www.kumamotobank.co.jp/personal ... taku/nisa/

Interesting that they only say this for Tsumitate NISA and not Growth NISA.

Thank you.