Managing Your Finances in Tokyo
Living in Tokyo can be expensive, but with the right financial strategies, you can save money and reduce stress. From banking options to utility payments, here’s what every foreigner should know.
How to Open a Bank Account in Japan?
When staying in a monthly apartment in Tokyo’s 23 wards, having a Japanese bank account greatly improves your daily life. From receiving salary payments to signing mobile phone contracts, a bank account is essential.
(1) Types of Banks in Japan
● Japan Post Bank (Yuucho)
The most foreigner-friendly bank with easy procedures and a nationwide ATM network. Compare to other bank, requirement of staying period in Japan is shorter (3 month vs 6 months).
● Mega Banks
Mega banks are the most difficult for foreigners to open accounts with. They require customers to fully understand their Japanese-language terms and conditions. The author’s foreign spouse was refused for this reason.
However, if a Japanese-speaking interpreter accompanies you, some branches may allow account opening.
● Regional Banks
Local banks with varying levels of foreigner support.
● Online Banks
Examples: Rakuten Bank, Sony Bank, PayPay Bank. Convenient and app-based, though some require a Japanese credit card or an existing bank account.
(2) Required Documents
- Residence Card
- Proof of address
- Passport
- Japanese phone number
- Hanko (seal) — sometimes optional
(3) Recommended Banks for Foreign Residents (Ranking)
🥇 1st: Japan Post Bank (Yuucho)
- Most foreigner-friendly
- ATMs everywhere
- Able to open shorter staying period compared to other banks (3m vs 6m)
- Lower documentation barriers
🥈 2nd: Online Banks
- Simple and fast application
- English-friendly interfaces
🥉 3rd: Regional Banks
- Good for long-term residents in one area
4th: Mega Banks
- High brand trust
- Strict requirements
- Japanese contract understanding required
- Interpreter support may allow approval
(4) Why Mega Banks Are Difficult
- Terms and contracts are Japanese only
- Staff communicate mainly in Japanese
- Long-term stay proof often required
- Risk management policies cause strict screening
With a Japanese-speaking companion, approval becomes more likely.
(5) Tips for Opening an Account
- Start with Yuucho or an online bank
- Prepare all documents before visiting
- Update address after moving into a monthly apartment
- Bring a Japanese-speaking companion for mega banks
Opening a bank account may feel challenging, but selecting the right bank makes the process much easier. For anyone living in a monthly apartment in Tokyo, having a bank account will help your life in Japan run smoothly.
Lifeline: Electricity, Water, Gas & Internet
This guide explains average utility costs in Tokyo, available providers, billing frequency, and payment methods—useful information for foreigners planning a long-term stay. Many monthly apartments include utilities and internet in the rent, making move-in easy and stress-free.
(1) Average Utility Costs in Tokyo
Based on reference data (HOMES):
- Electricity: ¥6,500–¥7,000 / month
- Gas: ¥4,000–¥5,000 / month
- Water: ¥2,000–¥3,000 / month
- Internet: ¥4,000–¥6,000 / month
Total monthly estimate: ¥15,000–¥30,000
Costs may vary depending on seasonal usage (heating in winter, air conditioning in summer) and individual lifestyle habits.
(2) Utility Service Providers
Electricity
- TEPCO (Tokyo Electric Power Company)
- ENEOS Denki
- Looop Denki
- SoftBank Denki
Gas
Water
Water services are operated by local governments (e.g., the Tokyo Metropolitan Government), meaning users cannot select their provider.
Internet
- NTT FLET’S Hikari
- NURO Hikari
- au Hikari
- SoftBank Air
- Mobile Wi-Fi (e.g., WiMAX)
Note: Internet availability depends on the building, so it’s important to confirm with the property before moving in.
(3) Billing Frequency
- Electricity: billed monthly
- Gas: billed monthly
- Water: billed monthly or bi-monthly depending on area
- Internet: billed monthly
For monthly apartments, these charges are often included in rent, eliminating the need for individual contracts or payments.
(4) Payment Methods
Common payment options available in Japan include:
- Credit card (VISA, MasterCard, AMEX, etc.)
- Bank auto-debit (direct debit)
- Convenience store payment using a barcode slip
- Bank transfer
Many providers also offer online account portals, and some support English-language interfaces.
Summary
- Typical utility costs in Tokyo: ¥15,000–¥30,000/month
- Electricity and gas providers can be chosen freely
- Water services are government-managed and not selectable
- Most utilities follow a monthly billing cycle
- Monthly apartments often include utilities in rent, making them convenient for foreigners
Related Reading
👉 Back to start: How to Rent a Monthly Apartment in Tokyo
Why contact us?
Monthly apartments are usually booked without viewing, and early reservations can save you up to 60%.
With local support, you’ll get better options, better prices, and a smoother start in Tokyo.
Tokyo Monthly Living 
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