How to Open a Wise Account

Minami Ishii
Last updated
March 24, 2025

Wise enables you to hold and exchange more than 40 currencies and transfer money to over 160 countries. It offers the same level of security as traditional banks but with lower fees and greater simplicity. Additionally, the Wise international debit card is accepted in over 150 countries.

This article provides detailed steps for opening a Wise account in Japan, explains the types of accounts available, the requirements, and methods for international money transfers.

Open Your Wise Account 💡

How to Open a Wise Account

Opening a Wise account is simple and can be done online. To open a personal account, follow these steps:

  1. Open the Wise smartphone app or visit the official website.

  2. Register as a member on Wise.

  3. Enter the transfer amount and provide your and the recipient's bank account information.

  4. Upload identification documents.

Can You Open a Wise Account Without a Japanese Address?

For instance, if a Japanese national is studying abroad or on an overseas assignment, they may need an account that works internationally. While Wise accounts require proof of residence in the country where you live, you do not need to have citizenship or be a national of that country.

For Overseas Residents

For those living abroad, such as students or expatriates, it is necessary to submit proof of your current address. A My Number Card is not required. The following documents are accepted:

  • Utility bills: electricity, gas, or phone (mobile phone bills are not accepted).

  • Bank or credit card transaction statements: photos, scans, or PDFs of actual statements.

  • Local tax notices or notifications from the UK’s HMRC.

  • Vehicle registration certificates or tax notices.

  • Driver’s license: must include a photo, address, and valid expiration date.

  • Documents issued by financial institutions or government agencies.

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Requirements for Opening a Wise Account in Japan

Wise is available to individuals aged 18 and older.

To open an account, individuals residing in Japan need to provide the following documents:

Acceptable Identification Documents

For Japanese Nationals

  • My Number Card

  • Japanese driver’s license

  • Japanese passport issued before February 2020

For Permanent Residents

  • My Number Card

  • Japanese driver’s license

  • Residence card

For Long-term Visa Holders

  • My Number Card

  • Residence card

Note: Returned My Number cards are not accepted.

Verification Process for Opening a Wise Account

As a financial institution, Wise conducts identity verification to comply with local regulations, protect users’ funds, and prevent crimes such as money laundering. The following are the steps for completing identity verification. You will need a smartphone for some steps, so please proceed using the Wise app.

Step 1: Select Your Nationality or Residency Status

To comply with legal requirements, Wise verifies your nationality or residency status.

  • Japanese Nationals: Those with Japanese nationality or passport.

  • Permanent Residents: Those holding permanent residency in Japan.

  • Long-term Visa Holders: Those with work visas, highly skilled professional visas, student visas, startup visas, spouse visas, or other long-term visas.

Step 2: Choose an Identification Document for Verification

Select the ID document you will use for verification. Acceptable documents include:

  • My Number Card: The simplest option for completing verification.

  • If using other ID documents, you must also provide a My Number notification card or a residence certificate (with your My Number) that includes your current address.

Residency StatusAcceptable ID Documents
Japanese NationalsMy Number Card, Japanese driver’s license, passport (issued before February 2020)
Permanent ResidentsMy Number Card, Japanese driver’s license, residence card
Long-term Visa HoldersMy Number Card, residence card

For individuals with a status other than "Japanese Nationals," the residence card is also accepted, but additional My Number-related documents are required.

Step 3: Write Down the 4-digit Authentication Code

Prepare a large piece of paper and a pen to write down the 4-digit authentication code displayed on the screen. Write it clearly and prominently, as you will need it for the photo-taking process.

Step 4: Take Three Photos of Your ID Document

  1. Place the authentication code paper just below the ID and take a photo.

  2. Tilt the ID at a 45-degree angle to capture its thickness, ensuring the information on the surface is visible. No authentication code is needed in this step.

  3. Take a photo of the back of the ID.

Step 5: Take a Selfie Holding the Authentication Code

Hold the paper with the authentication code facing the camera and take a selfie.

Finally, upload one of the following documents showing your My Number. This step is not required if you selected the My Number Card in Step 1.

  • My Number Card

  • Residence certificate issued within the past 6 months (ensure that any My Numbers belonging to other individuals are obscured before uploading).

  • My Number notification card

The verification process is now complete.

Please note that the identity verification process begins after deposit confirmation. It may take several business days to complete.

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How to Open a Wise Business Account

In addition to personal accounts, Wise offers business accounts. A Wise business account enables you to send and receive money both domestically and internationally, hold over 40 currencies, and access bank details in more than 8 currencies.

The process to open a Wise business account is entirely online and follows these steps:

  1. Register for a Wise business account.

  2. Provide company information, including registration and address details.

  3. Submit personal information about the account holder.

  4. Create a payment transfer and make a deposit.

  5. Wait for Wise to review the submitted information.

  6. Complete identity verification.

Requirements for Opening a Wise Business Account

Wise business accounts cater to a wide range of business sizes, from freelancers and sole proprietors to large enterprises. In Japan, the following business types are eligible to open an account:

Eligible Business Types:

  • Sole proprietors

  • Corporations (Kabushiki Kaisha)

  • Limited companies (Yugen Kaisha)

  • Limited liability companies (Godo Kaisha)

  • Partnerships (Gomei Kaisha, Goshi Kaisha)

Note: Registrations from trusts, foundations, charities, and NPOs are not accepted. Once identity verification is complete, you can start sending and receiving funds.

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How to Make International Transfers with Wise

Once registered, you can send money internationally with Wise by following these steps:

  1. Log in to your account.

  2. Enter recipient details, including bank account information, currency, and transfer amount.

  3. Select the purpose of the transfer.

  4. Review the transfer details.

  5. Transfer the specified amount to Wise's Japanese bank account.

After Wise confirms the deposit from the user, the money is sent to the recipient in the local currency.

Wise offers the same level of security as traditional banks but at lower fees and faster speeds.

Comparison of Overseas Transfer Fees

Below is a comparison of transfer fees for sending JPY 100,000 to the U.S. via Wise and other major Japanese banks.

Bank/ServiceTransfer FeeExchange FeeIntermediary Bank Fee (if sender bears the cost)Total FeeTransfer Time (as per website)
Wise732 JPYFreeFree732 JPYConfirmed at time of transfer
Rakuten Bank750 JPY0.25 yen/USD1,000 JPY1,750 JPY + exchange fee1–3 business days
MUFG Bank (Direct)3,000 JPYNot disclosedOnly recipient-borne option available3,000 JPY + exchange feeSeveral days or more

Data is based on information as of February 18, 2024

As shown above, Wise has the lowest total fees, saving approximately 1,000 JPY compared to traditional banks. Unlike banks, Wise eliminates intermediary bank fees, ensuring faster and cheaper transfers. Estimated arrival times are confirmed at the time of transfer, and the transfer status can be tracked in real time.

Check Your Transfer Costs on Wise🔍

About Wise

Wise is a global money transfer service established in London in 2010.

Supporting over 40 currencies in 160+ countries, Wise has become popular for offering faster, cheaper, and secure transfers compared to traditional banks. Wise has served over 16 million users worldwide, handling monthly transactions totaling £9 billion (approximately ¥1.7 trillion).

Benefits of a Wise Account

The key benefits of a Wise account include low transfer fees, fast transaction times, and robust security.

Wise supports both personal and business accounts, allowing users to manage multiple currencies through a single multi-currency account. With a Wise debit card, you can even make payments in foreign currencies directly.

Wise is licensed and regulated as a Type II Funds Transfer Service Provider in Japan, ensuring a safe and reliable user experience.

Cost-Effective and Fast International Transfers

As mentioned earlier, Wise offers significantly lower fees for international transfers compared to traditional banks. Typically, banks require multiple intermediary banks (correspondent banks) to process international transfers, which increases the total cost.

Wise eliminates these unnecessary intermediaries. For instance, sending ¥100,000 from Japan to the U.S. costs only ¥732 in fees (as of February 2024).

In addition, while bank transfers often take 1–3 business days or more to reach the recipient's account, Wise provides an estimated delivery time upfront. Transfers can sometimes be completed within 24 hours. Exact delivery times can be checked using the Wise simulator.

Check Your Transfer Costs on Wise🔍

High Level of Security

Wise Japan (Wise Payments Japan K.K.) is registered and authorized by Japan's Ministry of Finance and Kanto Local Finance Bureau as a Type II Funds Transfer Service Provider (Registration No. 00040). This ensures that Wise complies fully with Japan's financial regulations, offering a service as secure as traditional banks.

Wise Multi-Currency Account

A Wise Multi-Currency Account allows users to hold and manage approximately 40 currencies within a single account, making it especially convenient for receiving international payments.

For example:

  • If you receive payments from overseas clients via Wise, you can accept funds in 40 currencies.

  • If payments are sent via a traditional bank, you can receive funds in 10 currencies supported by Wise's bank account details.

This eliminates the need for currency conversion, enabling you to hold and manage foreign funds as though you had a local bank account in that country.

With the Wise debit card linked to the Multi-Currency Account, you can spend directly in foreign currencies without conversion. This feature is particularly advantageous for frequent travelers, as it drastically reduces the hassle and cost of currency exchange.

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Conclusion

Are you considering opening a Wise account?

Whether you're planning to study or move abroad, or if you frequently send money overseas, Wise can significantly reduce your fees.

Identity verification and international transfer procedures are completed entirely online. With its convenient and cost-effective features, a Wise account could be the perfect solution for your international financial needs.