Japan's banking system is similar to that of other countries. It has a variety of institutions, ranging from large international banks to small regional banks. Major domestic banks include Japan Post Bank, Mizuho Bank, Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, and Resona Bank.

There are also several internet banks, most notably Seven Bank, which has recently become popular and provides banking services to people via the internet and ATMs, where they can make cash deposits, withdrawals, transfers, foreign exchange, investment services, etc.

Most banks are open from 9am to 3pm and are closed on weekends and public holidays.
However, ATMs have longer opening hours and are often open on weekends and holidays. Recently, the number of ATMs that are open 24 hours a day has been increasing.

[Reference: http://www.hanabistore.com/beginner.htm]

Create an account

Foreign residents and tourists can open a bank account with a residence card. Some banks may also accept a Japanese driver's license in lieu of a residence card. More conservative banks may also require a personal seal.
There is no minimum deposit required to open an account, and most banks do not charge any fees to maintain it.
Interest rates on regular accounts are very low, usually around 1%. Once you've applied, you'll receive your bankbook and your ATM card will be sent to you in the mail. You'll need to pay a fee of 1,000 yen to receive your ATM card.
Conversely, if you want to close your account, you can do so at any branch if you have your cash card, passbook, residence card, and seal.

Transfer

One of the main services offered by banks in Japan is wire transfers, a very common way for individuals and businesses to send and request money from each other.
Transfers can be made in person at a bank, at an ATM, or via the Internet and are processed the same day if made during business hours. The sender usually pays a fee of 200-500 yen.
It is possible to transfer funds from an account outside Japan to a Japanese account using an international wire transfer, but this can be a complicated transaction that typically incurs processing fees of several thousand yen.
Japanese banks offer very low interest rate loans, but they are very difficult to get approved for. Banks that require applicants to have a certain income level will only lend to Japanese nationals, permanent residents, or foreigners with Japanese spouses.

This article has been partially re-edited by KARUTA from an article published on Guidable.