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Banks in Japan

warubuta said:
Recently Shinsei asked me alot of silly questions about the origin of my funds on deposit and wanted documentation to prove that my money is legit.
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Anti Money Laundering Laws changed last year. Any bank NOT asking you these annoying questions is breaking the law. Even TransferWise asks about source and use of funds.
And btw TransferWise can do JPY 1 million clips at a time, no daily volume limit that I can see. Rates and fees are better than Prestia Gold unless you do big size and get a decent spot rate (which is rare unless you have impeccable timing) and the TransferWise website and app are infinitely easier to use.
Finally, any mortgage over 1% these days you are getting raped.
 
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Question, I need a bank that will cash/deposit checks from the US. Tokyo mitsi is stopping that service soon I've heard.
 
just4fun said:
Question, I need a bank that will cash/deposit checks from the US. Tokyo mitsi is stopping that service soon I've heard.
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Are you talking about the new SMBC Trust Bank/Prestia?
 
just4fun said:
Question, I need a bank that will cash/deposit checks from the US. Tokyo mitsi is stopping that service soon I've heard.
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I cash my USA checks using a USA bank, from Japan, using an online bank application. I just take a picture of the check and upload it.

Then I use TransferWise to send funds to Shinsei.

Just a thought. I have only walked into a Shinsei branch to setup the account.
 
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JohnnyWalker said:
I cash my USA checks using a USA bank, from Japan, using an online bank application. I just take a picture of the check and upload it.
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I just read about that... and I saw that my own U.S. bank's app has the same function.
That's not a bad idea if you don't mind the FX fees and transaction fees (if any). I guess especially when you aren't left with much choice.
 
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Ken1988 said:
I miss those people who write checks and fill out the checkbooks at supermarkets...
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Yeah, had to do that many times... at least until they started taking credit/debit cards.
 
JohnnyWalker said:
I don’t think I have ever written a check at the supermarket.
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Last time I've even seen a check written was probably more than 35 years ago. Are they used anywhere else expect USA anymore?
 
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JohnnyWalker said:
I don’t think I have ever written a check at the supermarket.
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MikeH said:
Last time I've even seen a check written was probably more than 35 years ago. Are they used anywhere else expect USA anymore?
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Up until the late 90’s checks in the U.S. were commonplace. I used checks to pay for a lot of routine items. Most of it was vehicle gas, groceries and bills paid through the mail. I paid for take out and delivery food with checks (tip in cash usually).

Once they started taking bank account info for auto-payments, I set that up. And later, debit or “check cards” as they were called.
 
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Shinsei ATMs and all online banking services will be closed for 6 days around the new year period.
Seriously anywhere else in the world im pretty sure that would be front page news and a government inquiry. Ridiculous.
 
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Durg50 said:
Shinsei ATMs and all online banking services will be closed for 6 days around the new year period.
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I remember the first new year I spend in Japan. I was about to go and get some money from the bank and realised they had just closed for holidays.

I had like three thousand yens in my wallet and the note in the door said they would open again in seven days.
 
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TAG Manager said:
Are you talking about the new SMBC Trust Bank/Prestia?
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I have no idea what this is. I'm a little behind in the times but need to catch up quickly.
 
I'm dealing with Wells Fargo in the States and some (I feel iffey) retirement funds I get at the end of the year but they refuse to do a direct deposit overseas. WTF is that shit?????
 
just4fun said:
I'm dealing with Wells Fargo in the States and some (I feel iffey) retirement funds I get at the end of the year but they refuse to do a direct deposit overseas. WTF is that shit?????
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It’s called “adhering to intl money laundering / terrorist financing regs is a pain in the ass and we simply don’t want to bother”
 
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