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Second bank account for savings? 2017/3/13 11:51
I have an account with UFJ and was wondering if it's worth getting a 2nd bank account somewhere else to put savings into and was wondering if this is worthwhile in Japan given that interest is so low?
by littleblueowl  

Re: Second bank account for savings? 2017/3/13 16:32
What triggered you to that idea? I'm a Japanese resident and I have accounts in several banks for different reasons on saving money. It really depends on your lifestyle etc. Basically, just because you put money into another bank, that doesn't mean you can save money.
by Uco rate this post as useful

Re: Second bank account for savings? 2017/3/13 17:05
The idea was that a savings account with very low interest might be better than a normal account for everyday use with zero interest. Or is it still not really any benefit?
by littleblueowl rate this post as useful

Re: Second bank account for savings? 2017/3/13 17:29
If you want non-negligible interest, you'll have to look into more sophisticated financial products than a "savings account".
by Firas rate this post as useful

Re: Second bank account for savings? 2017/3/13 20:44
Bank savings accounts are easy to handle with no risk, so I can understand that you're looking into that rather than other sophisticated things. And of course you can compare interests of all the banks out there, including internet banking banks, to put a bulk of your money in.

In any case, I don't think that people typically keep like a million yen in their futsu-yokin on a daily basis. And the account or whatever method you chose for your savings greatly depends on how much you intend to save for how long. So if that account turns out to be a bank other than UFJ, then be it. But UFJ has a lot of options too. If you are a company employee, you should also check what options your company has for you.

Anyway, the best people to ask are your colleagues, and the next best people are financial planners, and finally you should do research on your own.
by Uco rate this post as useful

Re: Second bank account for savings? 2017/3/15 14:23
your question is very simple . ANSWER.

1) is possible . you can open bank account as many as you want provide it can help you to save your money.

2 ) you can open a fixed deposite account (ribon in japanese) if your hope is to save your money only. but the interest rate is like 0.0125 . very poor.
fixed deposite account dont have ATM card . only passbook . you need to fill up teller before you withdraw money .

by chike20 rate this post as useful

Re: Second bank account for savings? 2017/3/19 21:09
You can use your passbook at an ATM. You can open as many accounts as you want, you won't receive any appreciable interest in savings.
by PsyGuy rate this post as useful

Re: Second bank account for savings? 2017/3/20 11:58
You can use your passbook at an ATM

Correctly, you can use your passbook at the ATMs of designated banks. You can't use your book at most konbini ATMs. But it's off-topic anyway.
by Uco rate this post as useful

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