Deposits

I. Yen Savings Deposit

• Minimum initial opening deposit is ¥10,000
• Maintaining balance to earn interest ¥10,000
• This account is maintained in Japan, therefore it cannot be withdrawn in the Philippines
• Debit From this yen account and remit the proceed to beneficiary in the Philippines thru "Fax Instruction" (Pre-registration of Beneficiary information is required)
• Debit from this yen account and credit dollar account at Tokyo Branch using prevailing exchange rate through "Fax Instruction".
• Interest amount is paid every 15th of February and August
• Interest earned is subject to withholding tax of 20.315% and is automatically deducted every 15th day of February and August
• This deposit is not covered by the Deposit Insurance Corporation of Japan nor by any other insurance institutions

II. Dollar Savings Deposit

• Minimum initial opening is US$100.00
• Maintaining balance to earn interest US$100.00
• Debit from this dollar account and remit proceeds to beneficiary in the Philippines thru "Fax Instruction" (Pre-registration of Beneficiary information is required)
• Debit from this dollar account and credit yen account at Tokyo Branch using prevailing exchange rate through "Fax Instruction".
• Applicable interest rates are changed according to market fluctuation and subject to change without notice any time (variable rate).
• Interest amount is paid every 15th of February and August
• Interest earned is subject to withholding tax of 20.315% and is automatically deducted every 15th day of February and August
• Commission: Commission amount, limit or calculation method, etc. can not be shown in advance, since commission varies depending on the means of deposit/withdrawal, or foreign currency. For more details, please refer to
  
  Document Prior to Execution of Contract of Foreign Currency Savings Deposit ( and Document for Foreign Currency Deposits, etc) in English
  
  or
  
  Document Prior to Execution of Contract of Foreign Currency Savings Deposit (and Documents for Foreign Currency Deposits, etc) in Japanese
  
  
• This deposit is not covered by the Deposit Insurance Corporation of Japan nor by any other insurance institutions

Risks associated with foreign currency Savings Deposit

• Though there is no risk of loss of principal in deposited foreign currency, the exchange rate to be used for currency conversion may fluctuate, and that may cause an exchange loss. Therefore, the value of Yen you will receive including interest may be smaller than the amount of Yen you initially deposited, if the deposit currency has depreciated against Yen
• TTS rate (the rate at which Yen is converted to another currency) and TTB rate (the rate at which a foreign currency is converted to Yen) are applied respectively when Yen is converted to another currency (making deposit) and when a foreign currency is converted to Yen (making withdrawal). Foreign exchange commission (in case of USD, 1.0 Yen for conversion to or from 1.0 USD, 2.0 Yen for conversion to and from 1.0 USD) is included in the Bank’s quoted TTS rate and TTB rate and, as a result, the loss of principal and interest may occur when Yen does not fall against the foreign currency by a margin that exceeds the foreign exchange commission, not only if the deposit currency has depreciated against Yen
• When you deposit/ withdraw in foreign currency, commission (handling charge) will be applied
• For more details, please refer to
  
  Document Prior to Execution of Contract of Foreign Currency Savings Deposits (and Document for Foreign Currency Deposits, etc) in English
  
  or
  
  Document Prior to Execution of Contract of Foreign Currency Savings Deposits ( and Document for Foreign Currency Deposits, etc) in Japanese
  
  

III. Yen Time Deposit

• Minimum initial deposit is ¥100,000
• Available in 1, 2, 3, 6 and 12 months term
• Interest amount is paid in a lump at maturity
• Interest earned is subject to withholding tax of 20.315% and is automatically deducted upon maturity
• This deposit is not covered by the Deposit Insurance Corporation of Japan nor by any other insurance institutions

IV. Dollar Time Deposit

• Minimum initial deposit is US$ 1,000.00
• Available in 1, 2, 3, 6 and 12 months term
• Automatic renewal type (both principal and interest renewal type/ principal renewal and interest pay-out type) and automatic withdrawal type are available
• The applicable rate shall be the rate on offer for Foreign Currency Time Deposit term that applies the date of deposit. In the case of automatic renewal, the interest rate for the same Foreign Currency Time Deposit term on offer on the maturity date shall apply
• Interest amount is paid in a lump sum at maturity
• Interest earned is subject to withholding tax of 20.315% and is automatically deducted upon maturity
• Commission: Commission amount, limit or calculation method, etc can not be shown in advance, since commission varies depending on the means of deposit/withdrawal, or foreign currency. For more details, please refer to
  
  Document Prior to Execution of Contract of Foreign Currency Time Deposits (and Document for Foreign Currency Deposits, etc) in English
  
  or
  
  Document Prior to Execution of Contract of Foreign Currency Time Deposits (and Document for Foreign Currency Deposits, etc) in Japanese
  
  
• No penalties are charged for early withdrawals of the time deposit. However, the interest rate set on Savings Deposit will be applied instead of the interest rate originally committed. Change in the amount, term, splitting, and consolidation before the maturity is not allowed.
• This deposit is not covered by the Deposit Insurance Corporation of Japan nor by any other insurance institutions

Risks associated with foreign currency Time Deposit

• Though there is no risk of loss of principal in deposited foreign currency, the exchange rate to be used for currency conversion may fluctuate, and that may cause an exchange loss. Therefore, the value of Yen you will receive including interest may be smaller than the amount of Yen you initially deposited, if the deposit currency has depreciated against Yen.
• TTS rate (the rate at which Yen is converted to another currency) and TTB rate (the rate at which a foreign currency is converted to Yen) are applied respectively when Yen is converted to another currency (making deposit) and when a foreign currency is converted to Yen (making withdrawal). Foreign exchange commission (in case of USD, 1.0 Yen for conversion to or from 1.0 USD, 2.0 Yen for conversion to and from 1.0 USD) is included in the Bank’s quoted TTS rate and TTB rate and, as a result, the loss of principal and interest may occur when Yen does not fall against the foreign currency by a margin that exceeds the foreign exchange commission, not only if the deposit currency has depreciated against Yen.
• When you deposit/withdraw in foreign currency, commission (handling charge) will be applied.
• For more details, please refer to
  
  Document Prior to Execution of Contract of Foreign Currency Time Deposits (and Document for Foreign Currency Deposits, etc) in English
  
  or
  
  Document Prior to Execution of Contract of Foreign Currency Time Deposits (and Document for Foreign Currency Deposits, etc) in Japanese
  
  

V. Schedule of Bank Charges

Requirements

The following are the requirements to open any of the above Japan-based accounts.

1. Accomplished deposit application form and signature card. Forms are available at PNB Tokyo Branch and Yen Account Opening Forms could be mailed upon request.
2. My Number
3. Depositors' Identification
   1. Individual - Resident
      1. For Japanese National- Identification indicating name address and birthday. Any one of the following:
         • Japanese Driver's license (both sides)
         • Health Insurance Card (both sides if address column is on the back page)
         • Japanese Passport (photo page and address page)
         • Any other valid official documents acceptable to Financial Institutions and other regulatory authorities (under The Law on Due Diligence with Customers, etc.)
      2. For Non Japanese National. Any one of the following:
         • Residence Card (both sides)
         • Passport (name-photo, visa and address page)
           1. If there is no column of current address in passport, also one of the following original copy of utility payment bills stating date of payment, your name and address are required (issued within 6 months):
              1. Phone bill/Mobile phone bill
              2. Electricity Bill
              3. Water Bill
              4. Gas Bill
              5. NHK Bill
         • Any other valid official documents acceptable to Financial Institutions and other regulatory authorities (under The Law on Due Diligence with Customers, etc.)

          

   2. Corporate
      1. Resident
         • All documents as indicated below:
           1. Original company registration issued within the last 6 months
           2. Original seal of impression certificate issued within the last 6 months
           3. Personal identification with address and birthday of President and the person in charge to make the transaction on the company's behalf
      2. Non Resident
         • All documents as indicated below:
           1. Articles of Incorporation and Corporate By-laws duly registered with the Securities and Exchange Commission (SEC)
           2. Secretary's Certificate of authorized signatories with corresponding specimen signature
           3. Copy of proper identification e.g. passport, driver's license of the signatories to the account to be opened
           4. Copy of Residence Certificate of the President/ Officer-in-charge of the company / corporation, or any other identification issued by a Philippine governmental body, that shows his/her birth date and his/her Philippine residence. (In other words, if the President of the company is one of the authorized signatories, in addition to his passport or driver's license, we will need a copy of this particular Identification, which shows the birth date and resident address.)
         • The client should maintain a peso or US dollar account with any PNB branch, and/or be recommended by a PNB branch manager

Note:  In strict compliance with host country regulatory requirements, PNB Tokyo reserves the right to ask for other  supporting identification/ documents to comply with KYC (Know your Customer) rules. For further information/clarification, please call deposit section or This email address is being protected from spambots. You need JavaScript enabled to view it. us.

PNB Tokyo Deposit accounts (Japanese Yen and US Dollar) are not covered by Deposit Insurance Corporation of Japan or of any insurance institution.