Changing bank account for NISA

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Quark
Newbie
Posts: 6
Joined: Mon Feb 14, 2022 2:13 am

Changing bank account for NISA

Post by Quark »

Hi All,
Apologies if I've missed a thread, but I'm in trouble:
I changed my bank to SMBC and wanted to set up my seichou Nisa accordingly. With my previous bank (MUFG), it was really easy to set up the monthly automatic money transfer right from the Rakuten site. But now the four option I'm shown are:

Rakuten moneybridge
Rakuten Cash
Rakuten Credit Card
MUFJ

I don't have a Rakuten current account, nor a Rakuten Credit card, and very soon will retire my MUFJ account.

How to I "automatize" my recurrent transfer and purchase each month so that I don't have to think about it anymore? Ideally, the 27th is my preferred date.

I really appreciate your help!
beanhead
Sensei
Posts: 1220
Joined: Sat Jan 30, 2021 1:24 pm
Location: Kanto

Re: Changing bank account for NISA

Post by beanhead »

You could get a Rakuten credit card for the tsumitate.
I suggest you do not close your MUFJ account until you have an alternative set up.

Another option is to transfer some money from your SMBC account into Rakuten Securities, and then have the tsumitate take from this cash each month.
I have made transfers from SMBC to Rakuten. I have never tried to do tsumitate from SMBC, which you suggest cannot work.
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
Quark
Newbie
Posts: 6
Joined: Mon Feb 14, 2022 2:13 am

Re: Changing bank account for NISA

Post by Quark »

Thanks a lot for your reply! Changing banks is quite involved, but I think everything (including Rakuten) works now. Again, thanks a lot for suggesting a solution, it really helped me out. In the end, I set up moneybridge, because I didn't want another credit card ;)
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