Transitioning my life to Japan has been something I didn’t have to do in 2007. I was a student and only here for two months so I was more of a temporary visitor. However, now that I work here I need everything a normal citizen would have, minus the jet black hair. Bank account, insurance, identification, and taxes are some of the items I’ve had to sort out since arriving. I’ve also signed up for a Japanese Post Office account. Yes, a post office account.
This was suggested before I arrived because the post office in Japan is a little different than in America. Where in America you mostly find grumpy workers telling you that stamp prices have once again gone up; in Japan the post office acts as a place to send letters, and as a bank. Since the post office is run by the government, I can find any one of the 2,560 post offices across the country and access my money, whereas my local bank account only allows me access to my money in my hometown.
I find my post office account to be a good thing. I’m treating it as untouchable and forced savings. Forced savings might not sound good to everyone, but I have certain savings goals in mind that I’d like to accomplish in the next two to five years and having an untouchable savings account will allow me to accomplish these goals. The post office is the physical barrier that I need to separate my checking account – my discretionary spending – and my savings account – money for future goals.
It should be a pretty painless act. A day or two after I get paid I will trek over to my bank, withdraw the amount I want to save, walk across the street, and place that money into my post office account. It’s an easy way to separate checking and savings and avoid tempting myself by leaving extra money in my checking account that would probably be spent on candy or convenience store sushi (incredibly delicious).
Photo: Nemo’s Great Uncle
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Hello Austin,
I use the Japan Post for my savings, too. I’m seriously thinking about
signing up for an ING Direct savings account and using you as a referral.
What’s holding me back? How do I get my Japan Post to transfer money to ING?
Waiting your response…
[Reply]
Austin Reply:
May 6th, 2010 at 5:08 pm
I haven’t done it yet, but you should be able to do a money order for around 2,000 yen from your Japanese post account to any bank account at home. All you need is your routing # and account #.
There’s not 1 negative about ING; I even had my mom and dad open up accounts last year.
Hope this helps, Tony. Thanks for the comment!
[Reply]
Thanks for commenting back. I have read up a little about ING. There are a lot of good reviews and some bad ones, especially with people trying to purchase a home. Still sounds good though.
[Reply]