Business bank recommendation

[KyushuWoozy]

Hi, I'm looking for a recommendation for a business bank with criteria:

1. Not Rakuten

2. Deposits covered up to 10 million by the government guarantee scheme

3. Can be managed online

4. English interface is a bonus

If it matters, my company is Japanese.

Thanks!

[captainspoke]

No ideas, but also ask at https://www.reddit.com/r/JapanFinance/

[RetireJapan]

We're planning to incorporate soon, and just go with our local bank.

[KyushuWoozy]

No ideas, but also ask at https://www.reddit.com/r/JapanFinance/

Thanks, I did and got strong recommendation for https://www.netbk.co.jp/. Specifically they said App and website work nice and smoothly and it seems account opening is easy and can be done completely online.

[RetireJapan]

Quick follow-up question: is it possible to have more than one corporate bank account?

[KyushuWoozy]

We're planning to incorporate soon, and just go with our local bank.

Yikes, that's what I want to avoid. My local bank requires me to visit them for ridiculous things with my stamp, and their App and website reminds me of the 90's. I definitely want a bank everything can be done online (like I currently do with Rakuten).

Reminds me of a story someone I do business with told me about his bank - EVERY time he receives a payment from abroad (he's a travel agent like me so it isn't an odd occurrence) he has to physically go to the bank and show his ID even though he's banked with them for 20 years!

[KyushuWoozy]

Quick follow-up question: is it possible to have more than one corporate bank account?

Yes

[adamu]

and got strong recommendation for https://www.netbk.co.jp/

That's SBI, the non-Shinsei one, which I moved to from Shinsei before SBI bought Shinsei.

I've been using them for my personal account for years. It's genuinely smooth, but on two occasions I've had to use a different bank. Once was to set up a 口座振替 for a local company that only supported local banks. The other was to pay 全国健康保険協会 health insurance via Pay-Easy, which although SBI support Pay-Easy, they don't support that payee, so I used Rakuten Bank instead for that.

Other data points:
For a while they disabled 振込 via the website, you could only do them via the mobile app.
The mobile app used to be really fast but they renewed it to a much nicer looking and much slower version. Sometimes it pops up an ad on the statement page which is really annoying (but not as annoying as Rakuten putting ads for their own services next to your payments to competitors).
They recently reduced the free ATM providers to just 7 Eleven and one more I think, and require you use the app, not the card, if you want to withdraw for free.

A while ago when they rebranded to Neobank they had a really cheesy marketing campaign that said "Install the bank... Update society"... Because technology?

Anyway. This is all for personal banking, don't know about business. I still use them and I'm generally happy.

[Moneymatters]

and got strong recommendation for https://www.netbk.co.jp/

That's SBI, the non-Shinsei one, which I moved to from Shinsei before SBI bought Shinsei.

I've been using them for my personal account for years. It's genuinely smooth, but on two occasions I've had to use a different bank. Once was to set up a 口座振替 for a local company that only supported local banks. The other was to pay 全国健康保険協会 health insurance via Pay-Easy, which although SBI support Pay-Easy, they don't support that payee, so I used Rakuten Bank instead for that.

Other data points:
For a while they disabled 振込 via the website, you could only do them via the mobile app.
The mobile app used to be really fast but they renewed it to a much nicer looking and much slower version. Sometimes it pops up an ad on the statement page which is really annoying (but not as annoying as Rakuten putting ads for their own services next to your payments to competitors).
They recently reduced the free ATM providers to just 7 Eleven and one more I think, and require you use the app, not the card, if you want to withdraw for free.

A while ago when they rebranded to Neobank they had a really cheesy marketing campaign that said "Install the bank... Update society"... Because technology?

Anyway. This is all for personal banking, don't know about business. I still use them and I'm generally happy.

OK. You seem knowledgeable on this..
I genuinely don't know how the Happy* Rank system works.
I know i was Happy rank 2 for a while just because I did smart neo. Which i think is face recognition....
But recently, whilst I hate to brag, I got put on Happy Rank level 3**!
More free furikomis than you could shake a stick at! But looking at the criteria I don't see what I did to deserve it. and have no use for them..

*I'm not sure they have the word "Happy" prefacing it. But I'm too lazy to look it up and from experience it's 50/50 on these things..

** I'm assuming level 4 and above is akin to Sea Org in Scientology and I'll be able to chose window or aisle on the space ship...

[adamu]

OK. You seem knowledgeable on this..
I genuinely don't know how the Happy* Rank system works.
I know i was Happy rank 2 for a while just because I did smart neo. Which i think is face recognition....
But recently, whilst I hate to brag, I got put on Happy Rank level 3**!
More free furikomis than you could shake a stick at! But looking at the criteria I don't see what I did to deserve it. and have no use for them..

*I'm not sure they have the word "Happy" prefacing it. But I'm too lazy to look it up and from experience it's 50/50 on these things..

** I'm assuming level 4 and above is akin to Sea Org in Scientology and I'll be able to chose window or aisle on the space ship...

"Happy" is Rakuten. SBI is "Smart".

It's been a while since I looked into it, since the 5 free withdrawals/transfers you get just for setting up the app (Rank 2) has been more than enough for me.

Probably the most likely is having ¥3M balance at the end of the month. But it could also be setting up hybrid account for SBI Securities (1 point), getting paid pension or salary (1 point), foreign currency deposit (1 point). Just guessing!