Rakuten Bank review
Updated September 28, 2026 · HodlCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Rakuten Bank suits anyone in Japan who wants a plain Visa debit card with a monthly fee of ¥0 and cashback on everyday spending. The drawback is a currency conversion fee of 3.08%, which sits near the back of the field on this measure, so hold yen and spend yen where you can.
Key facts
- Best for
- A cheap Visa debit for everyday spending in Japan.
- Monthly fee
- ¥0↗
- Currency conversion fee
- 3.08%↗
- Free ATM withdrawals
- ¥7↗
- Card type
- Debit↗
- Cashback rate
- 1%↗
- Card network
- Visa↗
- Legal entity
- Rakuten Bank, Ltd.↗
- Headquarters
- Japan↗
- Founded
- 2000↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Features
- Multi-currency
- Official website
- rakuten-bank.co.jp
Facts checked September 26, 2026, 4 sources
Pros and cons
Pros
- A monthly fee of ¥0 keeps the account cheap to hold.
- Cashback of 1% adds a reward on top of an already low running cost.
- Free ATM withdrawals of ¥7 cover occasional cash needs.
- Multi-currency features for anyone holding more than one currency.
Cons
- A currency conversion fee of 3.08% is higher than most cards in this comparison.
- Free ATM withdrawals of ¥7 are limited, so the card suits light cash use.
Who it suits
- People in Japan who spend mostly in yen and want cashback on everyday spending.
- Cardholders who want a Visa debit with a ¥0 monthly fee and help by email, chat and phone.
- Anyone after a multi-currency account and a monthly fee of ¥0.
Who should look elsewhere
- Frequent converters, since the fee of 3.08% makes Wise a better fit.
- UK bankers, where Monzo Flex matches a domestic current account.
- Cardholders wanting to spend digital assets, where Bitpanda is more relevant.
Where it sits among rivals
On monthly fee, Rakuten Bank ranks 1 of 379 brands, and a fee of ¥0 puts it among the cheapest accounts here. Currency conversion is the opposite: at 3.08%, it ranks 217 of 237 on that fee. Free ATM withdrawals of ¥7 place it mid-table at 37 of 104.
Who runs it
Rakuten Bank is run by Rakuten Bank, Ltd., a bank based in Japan and founded in 2000. The name to look for on your statement is the legal entity above, since that is the party holding your balance. Support runs on email, chat and phone, so help is available by phone, chat, email and through a help centre.
How Rakuten Bank compares
9.0 vs 9.4
9.0 vs 9.0
9.0 vs 8.2
9.0 vs 9.5
9.0 vs 9.6
9.0 vs 9.0
9.0 vs 9.1Monthly fee of €0 on a card aimed at spending in digital assets rather than plain yen banking.
9.0 vs 8.9
9.0 vs 8.1
9.0 vs 8.2
9.0 vs 9.5
9.0 vs 9.4
9.0 vs 9.2
9.0 vs 9.1
9.0 vs 9.0
9.0 vs 8.9- 9.0 vs 8.8
9.0 vs 8.8
9.0 vs 8.6
9.0 vs 8.5
9.0 vs 8.3
Where Rakuten Bank is available
- Available
- Japan
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Does Rakuten Bank charge a monthly fee?+
The account carries a monthly fee of ¥0, and Rakuten Bank ranks 1 of 379 brands on this measure. That places it among the cheapest accounts in the comparison, so holding the account is not the reason to look elsewhere.
What does it cost to convert currency?+
The currency conversion fee is 3.08%, which is the weakest part of the offer. Rakuten Bank sits 217 of 237 brands on this fee, so spending and holding in yen is the cheaper route.
How much can I take out of ATMs for free?+
Free ATM withdrawals come to ¥7, which places Rakuten Bank 37 of 104 brands on this measure. Anything beyond that allowance falls outside the free amount, so plan cash needs rather than assuming every withdrawal is covered.
What kind of card is it?+
It is a debit card on the visa network, so payments come straight out of the bank balance. The account also carries multi-currency features, which suits anyone who ends up holding more than one currency in practice.
What rewards are on offer?+
Cashback of 1% applies on spending, and that is the only reward attached to the card. The account is multi-currency, so the value comes from everyday use rather than from a more layered rewards scheme.
How do I get help?+
Support runs on email, chat and phone, so you can reach the bank by phone, chat, email or the help centre. For a card used mainly in Japan, that mix of channels covers routine questions about balances, the allowance and cashback.
Who runs Rakuten Bank?+
The bank is Rakuten Bank, Ltd., based in Japan and founded in 2000. It is a bank account rather than a crypto platform, and the money sits in the bank balance that the debit card draws on.
Who is this card for?+
Rakuten Bank suits people in Japan who spend mainly in yen, want a monthly fee of ¥0 and value cashback of 1%. Travellers who convert often may prefer Wise, since the conversion fee here is 3.08%.
Sources
- global.rakuten.com/corp/news/press/2026/0313_01.html checked September 26, 2026
Backs: Headquarters
“Rakuten Bank headquartered in Tokyo, Japan”
- wise.com/en-jp/blog/open-bank-account-rakuten-bank checked September 26, 2026
Backs: Free ATM withdrawals, Cashback rate, Monthly fee, Support channels
“Depending on your Happy Program Membership rank, you will have a maximum of 7 free withdrawals”
- rakuten-bank.co.jp/corp/english/about/profile.html checked September 26, 2026
Backs: Founded, Legal entity
“Rakuten Bank was established on January 14, 2000”
- yenfinder.com/tips/rakuten-debit-card-overseas-guide checked September 26, 2026
Backs: Card type, Features, Currency conversion fee, Card network
“The card is available in Visa, Mastercard, and JCB versions”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Protection.