Alternative Bank/ broker

[Popochi]

Recently just had a nightmare with Rakuten bank. They limited my account since my residence card will expire in another 2 months and they wouldn't give in. I can't withdraw money, cant pay my rakuten credit card or fund transfer. I'm thinking of changing banks.

What banks do you guys recommend?

Also I'm thinking of taking out all of my investments out of rakuten securities. I see that SBI is quite popular here. Is it good too?

[RetireJapan]

What a nightmare. This problem seems to be becoming more common as banks are treating the Know Your Customer and Anti Money Laundering guidance too strictly.

Can you try to renew your zairyu card sooner?

[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?

I did have to register my Zairyu Card with them. I always renewed as soon as it was 3 months due though, so can't comment there.

[Popochi]

What a nightmare. This problem seems to be becoming more common as banks are treating the Know Your Customer and Anti Money Laundering guidance too strictly.

Can you try to renew your zairyu card sooner?

I already informed my company last month about the expiration date. And the one who's preparing the documents is still busy and haven't finished the papers I need. My only gripe is restricting my own account even though the card haven't expired.

Jp post bank doesn't have this problem at all .

[Popochi]

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?

I did have to register my Zairyu Card with them. I always renewed as soon as it was 3 months due though, so can't comment there.

Thank you will look this one up.

[Telebroker]

Thank you will look this one up.

I can only second the impression on Netbank. Recently opened an account and was pleased how smooth this all worked. Not even waiting for any postal mail (besides the physical debit card mailing). Free transfers and a great integration of Cotra (https://www.cotra.ne.jp/) which made all my transfers to SMBC Olive free anyway, so they don't even count against the 5 free transfers/month.

Suggest to give it a try as free too.