Rakuten Bank review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Rakuten Bank is a Japanese online bank with a monthly fee of ¥0, so it suits businesses and teens who want everyday banking without a standing charge. The account is usable around the clock all year apart from system maintenance, and a variable rate of 0.4% pays on balances.
Key facts
- Best for
- A low cost everyday bank account for businesses and teens in Japan.
- Monthly fee
- ¥0↗
- Currency conversion fee
- 0%↗
- Currencies
- 8↗
- Free ATM withdrawals
- ¥7↗
- Transfer fee
- Free to Rakuten Bank accounts; 145 JPY to other banks, up to 3 transfers per month free with the Happy Program↗
- Legal entity
- Rakuten Bank, Ltd.↗
- Headquarters
- Japan↗
- Founded
- 2000↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Audience
- Business, Teens
- Pricing model
- No monthly fee, Low FX fees
- Features
- Free ATM withdrawals, Joint account
- Official website
- rakuten-bank.co.jp
Savings
Money transfer
Facts checked September 26, 2026, 8 sources
Apps and profiles
- Get the app
- Google Play
Pros and cons
Pros
- A monthly fee of ¥0 on an easy access account, so keeping it open costs nothing to run.
- Free ATM withdrawals with an allowance of ¥7, and joint accounts.
- Remittance money arrives 1-3 days after the remittance date and is paid out to a bank account (bank).
Cons
- The variable rate of 0.4% sits well under the 3% median across the site.
- Remittance money goes to a bank account only (bank), with no cash or wallet payout.
- Transfers to other banks are charged, and remittances cost ¥750 each.
Who it suits
- Anyone in the audiences Rakuten Bank names for its easy access account, business and teen customers in Japan.
- Anyone remitting money who values a 0% currency conversion fee and arrival 1-3 days after the remittance date.
- People who want joint accounts, since they sit among the free atm and joint account on offer.
Who should look elsewhere
- Plazo ES, at a monthly fee of €0, for readers who want a euro account rather than a yen account in Japan.
- Skrill, at a monthly fee of €0, for anyone who wants a balance earning more than the 0.4% variable rate here.
- PayPal Colombia, at a monthly fee of $0, for people after a wallet rather than an account held with the Kanto Local Finance Bureau.
Fees and FX
The everyday account has a monthly fee of ¥0 and a currency conversion fee of 0%, so holding and spending in yen and foreign currency costs nothing to run. Transfers to Rakuten Bank accounts are free, while transfers to other banks carry a flat charge, and the Happy Program waives a set number of those each month.
How Rakuten Bank compares
9.3 vs 8.7
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9.3 vs 8.0
9.3 vs 8.9
9.3 vs 9.1
9.3 vs 9.2
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 8.7
9.3 vs 9.0Its monthly fee of €0 matches, so the deciding point is a 0% currency conversion fee and a bank account.
9.3 vs 8.7
9.3 vs 9.5
9.3 vs 9.4
9.3 vs 9.3
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.2
9.3 vs 9.1
9.3 vs 9.0
9.3 vs 9.0
9.3 vs 8.9
9.3 vs 8.9- 9.3 vs 8.9
9.3 vs 8.7
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.5
9.3 vs 8.4
9.3 vs 8.3
9.3 vs 8.2
9.3 vs 8.1- 9.3 vs 8.1
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 8.0
9.3 vs 9.1
Where Rakuten Bank is available
- Available
- Japan
- Licence in Japan
- Kanto Local Finance Bureau (Registered bank (Tokin) No. 609), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does Rakuten Bank charge each month?+
The everyday account has a monthly fee of ¥0, so keeping it open costs nothing in fees. The charges that do apply come from transfers, and balances earn a variable rate of 0.4%.
Is Rakuten Bank regulated?+
Rakuten Bank is registered with the Kanto Local Finance Bureau as Registered bank (Tokin) No. 609, so it operates as a bank rather than an e-money wallet. Deposits and withdrawals are handled through online banking, the Rakuten Bank app, bank ATMs and convenience store ATMs.
Can I withdraw cash for free?+
Withdrawals at bank ATMs and convenience store ATMs sit under a free allowance of ¥7. The account is usable around the clock all year apart from system maintenance, and deposits and transfers run through online banking and the app.
How many currencies can I hold?+
The account holds 8 currencies and charges a currency conversion fee of 0%, the figure that sets it apart from most rivals in this comparison. Balances pay a variable rate of 0.4% throughout.
What does a remittance cost and how long does it take?+
Remittances are paid out to a bank account only (bank) at a fee of ¥750, and the money arrives 1-3 days after the remittance date. Domestic transfers to Rakuten Bank accounts are free, while transfers to other banks are charged a flat fee.
What kind of account is it and who is it for?+
It is an easy access account aimed at business and teen account holders for day to day banking, and joint accounts are among its free atm and joint account. The minimum deposit is ¥1, and balances earn a variable rate of 0.4%.
How do I get help?+
Support runs on email, chat and phone, so phone, email, chat and the help centre are all available. Deposits, withdrawals and transfers run through online banking, the app and ATMs, and the account is usable around the clock all year apart from system maintenance.
Sources
- rakuten-bank.co.jp checked September 26, 2026
Backs: Features, Licences
“ATM fee: free up to 7 times per month; transfer fee to other banks: free up to 3 times per month; family account opening recommended”
- rakuten-bank.co.jp/account checked September 26, 2026
Backs: Access terms, Free ATM withdrawals, Audience, Support channels
“You can use it 24 hours a day and 365 days a year, excluding system maintenance and system processing”
- rakuten-bank.co.jp/assets/fixeddep checked September 26, 2026
Backs: Account kind, Minimum deposit
“Ordinary deposit: deposit period - no fixed period”
- rakuten-bank.co.jp/assets/forexdep/costs.html checked September 26, 2026
Backs: Currencies
“Exchange cost for yen transactions (deposit): US dollar 25 sen, euro 25 sen, Australian dollar 45 sen, British pound 45 sen, New Zealand dollar 45 sen, South African rand 30 sen, Mexican peso 20 sen,...”
- rakuten-bank.co.jp/assets/fx checked September 26, 2026
Backs: Currency conversion fee
“Rakuten Bank FX: the transaction fee for foreign exchange margin trading is free (a spread applies to the ask and bid of each currency pair)”
- rakuten-bank.co.jp/charge checked September 26, 2026
Backs: Pricing model, Monthly fee, Transfer fee
“Transfer fee / payment fee (personal account): free where stated, up to 3 free transfers per month to other banks with the Happy Program”
- rakuten-bank.co.jp/corp/about/profile.html checked September 26, 2026
Backs: Founded, Headquarters, Legal entity
“Established: January 14, 2000”
- rakuten-bank.co.jp/geo/remittance/service checked September 26, 2026
Backs: Delivery time, Payout methods, Fee to send 1,000
- rakuten-bank.co.jp/interest/details.html checked September 26, 2026
Backs: Headline rate, Rate type
“Ordinary deposit (yen) rate: 0.40% per year (0.318% after tax)”
Compiled from 9 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.
Related by the facts
Guides
Rakuten Bank
A low cost everyday bank account for businesses and teens in Japan.