Rakuten Bank review
A free-to-open Japanese online bank for everyday yen banking and remittances.
Reviewed by iTechGuides Editors · Editorial team · Updated Nov 2026
Rakuten Bank is a Japanese online bank for individuals who want everyday yen banking alongside access to foreign-currency deposits and international remittances. Its web, iOS, and Android options cover account activity, including balance and transaction-history views, domestic transfers, and debit-card services. Customers can also use ATM deposits and withdrawals, including smartphone ATM access. This combination suits Japan-based users looking to handle routine banking and some cross-border needs in one account, rather than those seeking a broad standalone financial-planning platform.
The service has a narrow, practical banking focus. Personal yen ordinary deposit accounts sit alongside yen time deposits and foreign-currency ordinary and time deposits. Domestic transfers can be scheduled, and international remittances are available from personal accounts for eligible holders. The app also supports account activity, transfers, deposits, and bill-payment functions. Rakuten Securities and Rakuten Card integrations may matter to customers already using those services, though they do not change the core focus on deposits, payments, and transfers.
Standard account maintenance is listed as free, but transaction fees may apply, so users should consider the specific activity they expect rather than treating the account as cost-free in every circumstance. The ordinary-deposit rate is 0.50% annual before tax as of 2026-11-02; higher rates may require eligibility or linked services. Residency and other conditions can limit account eligibility or service availability. Rakuten Bank is a fit for individuals in Japan who value yen banking with foreign-currency and remittance options; those who need guaranteed access regardless of eligibility or want a broader set of financial tools should compare alternatives.
Rakuten Bank pros and cons
- Where it wins
- Personal yen accounts support domestic and scheduled transfers.
- Offers foreign-currency deposits and international remittances for eligible holders.
- Integrates with Rakuten Securities and Rakuten Card.
- Where it doesn't
- Transaction fees may apply even though standard account maintenance is free.
- International remittances are limited to eligible personal-account holders.
- Account eligibility and service availability may depend on residency and other conditions.
Rakuten Bank fact sheet, pricing and score →
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