RetireJapan

Hi all,

Pretty simple question. I applied for NISA with my bank (MUFJ) about 6 weeks ago. I got an auto reply to say they would be checking with tax office and would let me know if/when approved. Any idea how long this might normally be expected to take?

Cheers
Paddy

When we got it done for our kids a few years back, we had to make an appointment and go down to a MUFG branch to do the paper work for their new bank and JNISA accounts, the taxman approval came around 3 weeks later, the on-line access was granted as soon as the taxman approvals came through.

I just decided to have a look in the MUFJ iOS app to see if there were any alerts etc. re the NISA application and it seems like it is actually active. Pretty strange that I never got an email to say it was setup …

Anyway, now just need to navigate all the various checkboxes and options to see if I can actually make a purchase.

Cheers
Paddy

Hi Paddy,

How do the charges for Nisa with MUFG stack against the online Big Three?

Just to let you know: if you are looking to purchase the MUFJ eMaxis Slim All-Country fund, you can't do that online through the MUFJ online banking portal. You have to go in-person to a branch to make a purchase.

This was the case with my kids' MUFJ accounts. We set up their personal bank accounts, as well as their Junior NISAs, and made a purchase while with the bank lady (had to be in-person for the bank account creation, and did the Junior NISA thing while we were there).

Fast-forward a year, I gifted them some cash into their MUFJ accounts, and tried to make another purchase of the eMSAC, this time, into their regular, taxable account. Couldn't see it available anywhere on the website. Actually gave them a phone call and they said that eMSAC is not able to be purchased on their website. I almost blew my top (especially after having to wait 15-minutes to talk to someone, all the while I am thinking about the cell-phone minutes I have to pay).

How is it possible that eMSAC is an MUFJ product, and you can't even buy it through their own effing online banking website?!

For NISA:

Choose Monex
Choose SBI
Choose Rakuten
even choose Matsui (they seem pretty good).

DO NOT choose your bank.
DO NOT choose the post office.
DO NOT choose other internet banks such as SONY bank or Aeon bank or 7 bank.

cocacola wrote: ↑Wed Jun 12, 2024 6:42 am Just to let you know: if you are looking to purchase the MUFJ eMaxis Slim All-Country fund, you can't do that online through the MUFJ online banking portal. You have to go in-person to a branch to make a purchase.

Actually you may not be able to get it for your kids even if we went into a branch.
When I tried earlier on the year, I was told that it was an online only product so if I really wanted to invest in something I would need to pick something else.

Just to clarify, when JNISA was active, you could buy eMaxis slim for your kids' account online, you could even buy into their regular brokerage accounts online.
This year after JNISA stopped, any purchases for minors into their brokerage accounts have to be done in person at a branch.

eetc155 wrote: ↑Thu Jun 13, 2024 1:04 am Actually you may not be able to get it for your kids even if we went into a branch.
When I tried earlier on the year, I was told that it was an online only product so if I really wanted to invest in something I would need to pick something else.

Hmm, we told the person on the phone that we wanted to purchase the eMaxis fund specifically on behalf of our children, using their own bank accounts. They told us that the eMaxis Slim All Country was not able to be purchased online, only in-person. So, they knew that we wanted to buy the fund for our children and still directed us to go in-person to a branch to do it. I am not sure which is true... in any case, I am working on opening "minor" accounts at Monex for the kids, so it won't be an issue for us, either way.

This year after JNISA stopped, any purchases for minors into their brokerage accounts have to be done in person at a branch.

Eh? I thought you said above that eMSAC is an online-only product?

This year after JNISA stopped, any purchases for minors into their brokerage accounts have to be done in person at a branch.

Eh? I thought you said above that eMSAC is an online-only product?

Yup, the eMaxis range is online only, they offer a range of other funds that can be purchased in person. But as I mentioned before they recommend I just go elsewhere as the charges are more for those.

So before e.g. 2022, 2023, after we used up the 800,000yen limit we would buy an extra 300,000 of the eMaxis fund into their tokutei accounts - all via the same online interface.

Now, i.e. 2024, access to their online accounts are frozen for purchases, you need to make an appointment and go into a branch to buy any funds. The eMaxis range is not available for purchases when doing it in person.
From their homepage you can search the lists of funds on offer and see which ones are available when going in
e.g. the eMaxis all world
https://fs.bk.mufg.jp/webasp/mufg/fund/ ... 55920.html

You can see the "窓口" (counter) option is greyed out.

eetc155 wrote: ↑Mon Jun 17, 2024 4:27 am Now, i.e. 2024, access to their online accounts are frozen for purchases, you need to make an appointment and go into a branch to buy any funds. The eMaxis range is not available for purchases when doing it in person.

Ah, I see, I guess their accounts were frozen for online purchases.

What a pain in the butt. Opening the Monex accounts for them will make things so much easier.