of Banks & Mobile Phone Contracts

WHILE searching through various websites for a room to rent, I checked out some links by real estate agents and found a really good link called Sumai Table by J&F Networks. It consolidates all the info you need such as Emergency Contacts (Police, Ambulance etc) and what to do before activating Gas, Water & Electrical supplies to your household.

But what really caught my attention was the information of ATMs in the Banking section. It states, "It is convenient to have a cash card because you will have access to ATMs throughout the city. Banks are only open 9:00 a.m. to 3:00 p.m., weekdays. With your cash card, you can have access to your account from 8:00 a.m. to 9:00 p.m. weekdays, and 9:00 a.m. to 5:00 p.m. weekends."

I was so appalled by it that I had to put that up on Facebook - "Waaaaat you mean it's not 24hours?!"  I'm glad I posted it up because I never would have found out from my former Japanese teacher that if you withdraw cash after those designated times, a handling fee / commission will be deducted from your account for each time you withdraw cash after 5pm or 5:30pm. That of course, was another appalling factor for me - "Waaaaaaat you mean we can't withdraw for freeeee?!?!?"

So what I've found out was, Sumitomo Mitsui Banking is one of the most convenient banks for it's many branches and ATM locations. However, if you want to remit money to your home country, the charges might be quite high. If so, Citi Bank might be a better option for foreigners. Still, it is better to keep your options open and find out more from your preferred bank, such as,

- How much is it to maintain an account?

- How much is it to maintain a credit card? (Apparently there's a JPY10K charge per annum for a credit card with Citi Charge.)

- What are the ATM operating hours for weekdays and weekends?

- How much handling fee is charged to your account if you withdraw cash after the operating hours?

- Are all their ATMs 24hours or only those in the コンビニ (convenience stores)?

Do note that foreign debit and credit cards are not accepted in most convenience stores except in 7-11. Here's more info on services provided in a コンビニ in Japan.

- Is there a handling fee charged to your account if you queue in the bank to take cash over the counter?

Depending on the ATM provider and I believe depending on the region you'll be residing, there will be different operating hours for ATMs. Most generally operate from 9:00am - 5:30pm and cash withdrawal during these hours are free. The handling fee / commission charge only kicks in beyond that time frame.

The handling fee also differs from each ATM provider, and again, different regions I believe. The handling fee ranges from JPY150 (~SGD2.5) to JPY315 (~SGD5.5).

*Update - Saturday, Jan 14, 2012

Unlike Singapore where we are a card and cash-based society, Singapore has a NETS system that allows us to use our ATM/ cash card to purchase stuff in most shops and eateries. The cash card / ATM card in Japan only has 1 purpose - withdraw money from the ATM, as Japan is a cash-based society.

Mobile Phone Contract

Getting a mobile phone plan will probably be one of the most troublesome of all the things I need to settle. I can live without a mobile phone and most times in Singapore, I would move around without carrying one with me all the time. In a country like Japan where earthquakes are likely events... I realised going out without carrying my mobile, is a luxury that I cannot do anymore once I'm there.

Besides the job requirement of being "on-call", I'm more concerned about getting 3G accessibility on my mobile in the event of an earthquake. Mobile plans are expensive in Japan and all telcos offer a minimum 2year contract. As I'm on a 1yr contract, getting a 2yr contract is an excess if I don't stay on. Prepaid cards naturally cost more than the contract deals.

Mobile Phone Plans range from JPY3,000 (~SGD51) to JPY10K (~SGD170) per month. I'm not sure which telco it is, but I'm told if you subscribe to the JPY10K package, you'll get a free i-Phone with all the options available when you make / receive domestic calls, including 3G access.

I'm also told that Softbank is one of the more convenient / stable telcos for now and NTT is still at its refining stages in terms of their software. I think the collaboration between Yahoo Broadband and Softbank for its deals seem affordable.

Guess the best solution when I'm there is to check out phone rental services - to find out rental fee and to sign on a package if need be.

Check out this site by DK House for it's succinct info on documents needed to purchase a mobile phone and links to Japan's major telcos.

If you've any experience or recommendations for mobile phone plans with 3G in Japan, please do not hesitate to leave a comment! Any info is greatly appreciated as it'll definitely help me in some way or other.

Thank you to the following who have provided me with much info in these areas: しみず先生, あやか先生, Ricky & Linus.

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FINALLY! a Bank with NO service charge for cash withdrawal 24/7!