# Study costs & money in Japan

> Tuition, living-cost context, banking, taxes and practical money guidance for students planning to study in Japan.

Source of record: https://versityspot.com/study-abroad/japan/costs
Confirmation: 15 of 15 sections confirmed against their official source (last 2026-08-08).

## Bank Accounts

Open an account once you have registered your address and, ideally, once your My Number notification arrives. Japan Post Bank is the usual first account for students because it accepts new arrivals readily and has branches everywhere.

Bring your residence card, your student ID, your My Number if you have it, and a personal seal if you have one. The hanko, a name stamp, is used in place of a signature at many institutions, and although it is slowly being phased out you may still be asked for one.

Japan remains more cash based than the rest of this guide, though IC cards such as Suica and Pasmo, and code payment apps, now cover most daily spending. Keep cash for small restaurants, shrines and older shops.

Transferring money in from abroad is straightforward but slow and expensive through banks. Arrive with enough for the first month.

*Source: https://www.studyinjapan.go.jp/en/*

## Taxes

If you work part time, income tax is withheld from your pay. Students earning modestly across a year commonly owe little, and can adjust at the year end.

Everyone registered as a resident and aged twenty or over is enrolled in the National Pension. Students may apply for the student payment exception, gakusei nofu tokurei, which defers contributions while you study rather than cancelling them. Apply at your municipal office. Ignoring the pension notices, which arrive in Japanese, is a common and avoidable mistake.

Residence tax is levied by your municipality on last year's income, so it usually arrives in your second year rather than your first, which catches students out.

Your My Number is required when you take a job, and your employer will ask for it.

*Source: https://www.studyinjapan.go.jp/en/*

## Common questions

### What should international students know about banking in Japan?

Register your address first, then open an account. Japan is still noticeably cash based.

### What should international students know about taxes in Japan?

Apply for the student pension exception at your ward office. Residence tax arrives in your second year.