Yea or nay? Holding mutual funds at Sony Bank to qualify for Platinum Stage perks?

[ChapInTokyo]

I wonder whether there’s a downside to buying say 10 million yen’s worth of a well diversified mutual fund such as SBI’s wrap of Vanguard Total World Stock ETF at Sony Bank instead of my regular broker (Monex)?

Unfortunatey Sony Bank doesn’t sell eMAXIS Slim All Country so SBI’s VT wrap seems to be an acceptable substitute, with an expense ratio of 0.0638% annd an actual cost of 0.1338%.

By holding 10 million yen’s worth of funds there, Sony Bank will give me a 2% preferential cash back on purchases made with the Sony Wallet debit card, as well as a bunch of free domestic and international remittances and preferential currency exchange commission rate of 0.04 yen on the dollar.

https://moneykit.net/en/clubs/

Anyone here have experience of doing something similar to get perks at banks here? Any potential down sides to holding the mutual funds at a bank rather than broker?

[sutebayashi]

I wonder whether there’s a downside to buying say 10 million yen’s worth of a well diversified mutual fund such as SBI’s wrap of Vanguard Total World Stock ETF at Sony Bank instead of my regular broker (Monex)?

Unfortunatey Sony Bank doesn’t sell eMAXIS Slim All Country so SBI’s VT wrap seems to be an acceptable substitute, with an expense ratio of 0.0638% annd an actual cost of 0.1338%.

By holding 10 million yen’s worth of funds there, Sony Bank will give me a 2% preferential cash back on purchases made with the Sony Wallet debit card, as well as a bunch of free domestic and international remittances and preferential currency exchange commission rate of 0.04 yen on the dollar.

https://moneykit.net/en/clubs/

Anyone here have experience of doing something similar to get perks at banks here? Any potential down sides to holding the mutual funds at a bank rather than broker?

If I understand correctly, the actual cost being as stated would mean the cost is 13,380 yen per year, assuming a 10,000,000 yen investment?

Are the perks worth 13,380 yen to one, would seem to be the question, or more precisely, subtract the difference of holding the same / similar fund elsewhere for a cheaper management fee.

It depends how often you actually use those preferential services, as to whether it’d worthwhile, methinks.

[ChapInTokyo]

I wonder whether there’s a downside to buying say 10 million yen’s worth of a well diversified mutual fund such as SBI’s wrap of Vanguard Total World Stock ETF at Sony Bank instead of my regular broker (Monex)?

Unfortunatey Sony Bank doesn’t sell eMAXIS Slim All Country so SBI’s VT wrap seems to be an acceptable substitute, with an expense ratio of 0.0638% annd an actual cost of 0.1338%.

By holding 10 million yen’s worth of funds there, Sony Bank will give me a 2% preferential cash back on purchases made with the Sony Wallet debit card, as well as a bunch of free domestic and international remittances and preferential currency exchange commission rate of 0.04 yen on the dollar.

https://moneykit.net/en/clubs/

Anyone here have experience of doing something similar to get perks at banks here? Any potential down sides to holding the mutual funds at a bank rather than broker?

If I understand correctly, the actual cost being as stated would mean the cost is 13,380 yen per year, assuming a 10,000,000 yen investment?

Are the perks worth 13,380 yen to one, would seem to be the question, or more precisely, subtract the difference of holding the same / similar fund elsewhere for a cheaper management fee.

It depends how often you actually use those preferential services, as to whether it’d worthwhile, methinks.

Oh the management fee is the same whether I buy them from Sony or from Monex, Rakuten or SBI.

If I bought them at Monex and held them in my Monex account Monex will reward me with 0.03% per year in Monex points which is worth 3000 yen as I understand it.

If I buy at Sony the bump up of the debit card cash back from the regular 1% to 2% will mean I will have 6000 yen extra per year in pocket assuming I buy around 50,0000 yen a month with the card as I currently do. Obviously if I pay for utilities and taxes and insurance and road tolls and such with the Sony Wallet going forward the savings would be greater.

Having said that, the actual yen cost of 13,380 yen per year that you mention does make me think twice about whether holding SBI’s VT wrap fund at that cost in a taxable Japanese account is the right choice. I might do better with having VT itself with its 0.07% expense ratio in a DRIP account at Firstrade perhaps. Thanks for making me stop and consider!