Banks

Since I primarily worked in banking while living in America, I thought it would be interesting to point out the differences between banking in Japan and banking in America, and believe me, there are many.

First off let's talk ATMs; at the average bank in America you have one ATM in the lobby and maybe one additional ATM in the drive-up, that just isn't going to cut it in Japan. Take a look at the pic - 9 ATMs in the lobby, suck on that, America!

But that is not to say there aren't drawbacks in the Land of the Rising Sun, that debit card in your wallet? Yeah, they don't exist in Japan; you get an ATM card and that is it. That goes a long way to explaining why so many ATMs are needed in Japan, if you want to buy something, you need cash - end of story. Also, banks in Japan still use passbooks and you can insert your passbook at ATMs to update your balance if you make a withdrawal or deposit there. ATMs in Japan also complete transactions in different languages, so the old "Why do I have to press one to continue in English? This is 'Merica!" complaint also holds true in Japan, where foreigners are even rarer.

There are many other big differences at your local bank in Japan. You don't get in line to see a teller, you take a number, just like at the supermarket deli. There are benches and chairs for you to sit in while you wait for your number to be called and the teller has a tougher job in Japan, as they are also in charge of opening accounts and customer service.

Another big difference is you don't write checks in Japan. Ever. Seriously, checking accounts do not exist in Japan. Your pay is direct deposited into your savings account and you pay your bills at the local convenience store or post office. On the bright side, since there are no checking accounts or debit cards, there are also no overdraft fees.

No overdraft fees, no bounced checks, no minimum balance requirements - how the heck do banks in Japan make any money?