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Topic

Yen Accounts in the U.S.

Question
#1
  • Yen
  • mail
  • 2023/06/05 14:02

I think there was a previous topic about yen-denominated deposit accounts in the US, but I can't find it.

When I send money from Japan, it is deposited in dollars when it is wired to my bank here.　There used to be a yen-denominated account at Union Bank, but it seems to be gone now.　2 ～ Is there any Yen Account that can be maintained with a balance of less than $30,000 ？?

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#2
  • SJDummy
  • 2023/06/06 (Tue) 18:43
  • Report

The following article may be helpful. However, it appears that all banks require a substantial deposit.
https://www.mybanktracker.com/checking/faq/us-bank-multicurrency-account-307916

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#3
  • 💩
  • 2023/06/07 (Wed) 09:46
  • Report

I don't see the advantage of having a yen-denominated deposit in an American bank.

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#4

Thank you, SJDummy. Yes, all banks except TIAA require a substantial balance, and since yen transfers to TIAA can only be made through other banks, we can only receive a limited number of transfers.　

For those of you who have had small yen deposits with Union Bank, are you still maintaining your accounts?

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#5
  • SC 430
  • 2023/06/30 (Fri) 07:44
  • Report

Yesterday, I bought Yen with a JPY Foreign Currency Time Deposit I made when I was at Union Bank. I heard that I cannot make a new one at US bank.

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#6
  • こめお
  • 2023/06/30 (Fri) 07:56
  • Report

Why do you live in the US and need a Japanese Yen account ？?

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#7
  • 昭和のおとっつぁん
  • 2023/06/30 (Fri) 08:47
  • Report

2 ～ It would be nice if you could maintain a balance of less than $30,000 USD and still pay in yen
If you pay from an account you have in Japan towards the US
you could do it for a small fee.

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#8

I still can't make a new one, SC 430, thank you very much.
I don't know how much the dollar will rise in the future, but it would be nice if US BANK's CDs pay more than 5% like other banks.

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#9
  • Yen
  • 2023/06/30 (Fri) 16:20
  • Report

I copied the following from another topic （ Union Bank to ・ ・ ・ ＞ by mistake.

I have been told that I can't open a new Yen account with US Bank.
Although I don't know the future trend of yen-dollar, it would be nice if I can get more than 5% CD interest like ordinary banks.

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#10
  • 振り子の原理
  • 2023/07/01 (Sat) 06:35
  • Report

#5

Nanu ？
Now that the yen is at record low, I want to buy some for investment purposes.

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#11
  • SC 430
  • 2023/07/01 (Sat) 06:36
  • Report

In case you are wondering, the minimum for a yen account is $ 25000. I also made a CD with them, 4.95%, 19 months, not bad.

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#12
  • 何言っちゃってるの？
  • 2023/07/01 (Sat) 07:47
  • Report

10 You have it in yen, so it's the other way around （ lol ）

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#16
  • 🥧
  • 2023/07/01 (Sat) 22:04
  • Report

Topix: You have yen and don't want to convert it to dollars right now, so you want to know if you can open a yen-denominated account. I also have tens of millions of yen, but if I change it to dollars now, it will lose a lot of value. I think that once the aftereffects of Corona are over, the current depreciation of the yen will be somewhat better, so I intend to keep it in yen until then. If you have dollars, you might as well buy yen. Both of these assumptions are based on the assumption that the yen will recover. Well, if you think the yen will recover, you can short dollar-yen on FX.

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#17
  • 振り子の原理
  • 2023/07/02 (Sun) 01:24
  • Report

With the yen at a record low, $100,000 is converted to 14,000,000 yen.
The yen appreciates to 100 yen per dollar, and when you convert it back to dollars, it becomes 140,000 dollars.

What's with the self-destruction ？ lol
You have zero sense, so be quiet.

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#18
  • 昭和のおとっつぁん
  • 2023/07/02 (Sun) 06:48
  • Report

Do you have tens of millions of yen in cash in a cash reserve for emergencies ？?

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#20
  • Yen
  • 2023/07/02 (Sun) 12:55
  • Report

My reason for wanting to have a yen account is similar to #16, "I don't want to convert it to dollars right now." Because when money is transferred from Japan to my bank here, it's very diminishing.　I think people who receive pensions from Japan feel the same way.

I don't know if the current rate is a record for those who know the days when the dollar was 190 yen, but I am thinking of buying yen now and waiting ＜ all the way to a stronger yen ＞.　

I am hesitant about Wise because it appears to be for small amounts and does not appear to be FDIC eligible.

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#21
  • 昔話
  • 2023/07/05 (Wed) 16:09
  • Report

↑
More, back in the day $ 1=360 yen.

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