RetireJapan

Hi
I had a black ATM card from SBI which I used to use at a post office ATM to deposit money to SBI where I would then buy my funds.
The other week I tried using this card, and the ATM rejected the transfer, on checking the SBI website I found out SBI no longer allows deposits using an ATM...

SBI offers 3 options seemingly, two of which were not making much sense to me, I would login at SBI then be transferred to my a relevant bank site where I would login in again, and then be told the transfer was not possible for various reasons...

I went for the third option which is creating an account with SBI bank, my understanding is that I will receive new cards that I can use in an ATM which I can use to make deposits. Seems this SBI Net bank also allows free use of ATMs.

Anyone else using this SBI Net bank ? Any hidden fees or things I need to look out for ? Anyone else using this method to deposit funds at SBI so they can buy their investment funds?

I’ve used SBI Netbank to get funds into the shoken account.

Basically you should end up with a hybrid account.
You can set up automated transfers or just use the 振替 function to move money from net bank to shoken.

Based on various rules you will be given a “rank” for the net bank account. This limits how many free ATM transactions you can make each month. I don’t know the minimum. I’m currently rank 2 and get 5 free ATM transactions and 5 free bank transfer to other banks.

Thanks! Moneymatters, seems the way to go, free transfers sounds good. Also the application process for this was very simple in SBI

If you just want to transfer funds to your SBI Shoken account then I think furikomi transfer is the easiest. SBI has accounts with three banks: SMBC, Mizuho, and MUFG. I have an account at Prestia which I believe is owned by SMBC so the transfers are free and very fast. Usually they arrive in my SBI Shoken account an hour or two after the transfer was made. Just be sure to put your name EXACTLY as it's registered with SBI Shoken into the "remitter" field of the transfer to avoid any issues. I gave detailed instructions here:

viewtopic.php?f=4&t=934&start=20#p13069

Good luck!

Thanks! Teflon for finding how to to this from * bowels of the SBI Securities web site* Also have heeded your warning, and am worried about my money being stuck in "reassembly limbo* As have already applied for the SBI Net banking may wait to see how that works , if I have issues with that, I will try your procedure