RetireJapan

I updated my (permanent) residence card 在留カード in Feb of this year.
Last week I got a card from Yucho Bank (ゆうちょ銀行, (the post office bank) telling me I have to resubmit card data within 3 weeks, as part of their efforts to prevent "money laundering". If I dont comply, they will "restrict" usage of my Yucho account. I guess this applies to all non-Japanese citizens.

Seems discriminatory to me, since only non-Japanese are suspected of "money laundering". Also I know of no other bank that does this.
I guess it's that famous Japanese hospitality もてなし in action, once again.
Just sayin...

No, I'm sure all banks do this. I've gotten it from Prestia and Rakuten Bank in the last year. The reason they're doing this for foreigners and not Japanese citizens is because foreigners have residence cards that expire and citizens don't. I assume they can't differentiate between permanent and those whose permission of stay expires so they send to all of them.

Other banks do it too, though mine hasn’t bothered me for a few years. Not sure how often they are supposed to do it.

It's stand KYC - Know Your Customer practice.

All bank should be doing it. The regulators are probably forcing compliance.

It is not discriminatory.

Actually, reading back, the reason they contacted you was because they had a record of when your card expired. I got the same from Rakuten Bank with the same spiel about how they will restrict me if I don't update. Because they don't know if I'm legally still in Japan or not.

This seems to depend on the bank.

For me, no bank has asked me for my zairyu card details (have accounts with Shinsei, Sony, 77 Bank, Shonai Bank, Rakuten). Monex Securities has asked each time I renewed my card, Rakuten Securities have never asked.

My understanding is that banks are not required to check period of stay as part of KYC, but many choose to.

The reason they are checking is because of the lucrative black market in dormant bank accounts that people sell to scammers and similar. Seems people were offering non-Japanese people leaving Japan money for their accounts, then using them to receive illicit funds.

I do find it discriminatory that some banks choose to check non-Japanese customers to see if they are still resident, but not Japanese ones (who could also move overseas).