Jakarta, 9 July 2025 – PT Bank Danamon Indonesia Tbk (“Danamon”, IDX: BDMN) and MUFG Bank, Ltd., (“MUBK”), both members of Mitsubishi UFJ Financial Group, Inc. (“MUFG”, TYO: 8306), today announce an innovative initiative to support Indonesian workers coming to Japan who wish to open personal bank accounts at MUBK For the first time in Indonesia involving Indonesian and Japanese banks, Danamon starts a limited pilot of facilitating MUBK account opening for workers, where workers can conduct the account opening process from Danamon branch in Indonesia, before they enter Japan.
In 2024, more than 120,000 Indonesian citizens work in Japan, which constitutes a sizable number among foreign workers in Japan. While account opening with Japanese banks can add burden to incoming workers’ transition to a new life in Japan, it is regardless mandatory to enable workers use regular banking services and remit their hard-earned income back to Indonesia.
Jin Yoshida, Global Alliance Strategy Director of Danamon, explained, “With the growing number of Indonesian workers coming to Japan, there will be an increasing need of opening new bank accounts to support their daily financial transaction in Japan. With this initiative, Danamon as a member of MUFG, we collaborate to offer a simpler, more comfortable customer journey to support Indonesian workers’ account opening with MUBK through Danamon. This is a breakthrough and for the first time offered in Indonesia, which is made possible only through the close collaboration of MUBK and its partner banks and relationships with existing corporate clients. We hope to see more Indonesian workers make use of this program.”
Bank account ownership is crucial for daily transaction in Japan, with more than 98% of Japan’s population owning a bank account, according to the World Bank. For many Indonesian workers who preparing to work in Japan, the process of fulfilling administrative requirements is often a significant burden, together with a more robust know-your-customer (KYC) process. Furthermore, language barrier adds another complexity to bank account opening, as much of the communications and documentation are conducted in Japanese with little to no translations, making the process more difficult for those whose native language is not Japanese. Therefore, while opening bank account is important for an Indonesian worker in Japan, the account opening process can be difficult to navigate. This is where Danamon’s initiative together with MUBK comes in to make this process easier.
In this limited pilot, Danamon welcomes workers from a training organization for Indonesian workers to open MUBK personal bank accounts through Danamon. Through this program, rather than having the workers open the account once they arrive in Japan, they can start the account opening in Indonesia by submitting the required documents through select Danamon branches (Danamon Jakarta Menara Bank Danamon and Danamon Jakarta Trinity Tower). Danamon’s Japanese Desk team will support in managing the account opening and pass the documents to MUBK for processing. In the shortest case the account can be opened within 2-3 days after the customer visits the branch. With this scheme, Danamon collaborates with Indonesian sending organizations and Japanese supervising organizations to receive documentation and client referrals.
Overall, this program is expected to make the customer journey for opening the MUBK account simpler and more convenient. In addition, the program benefits them because:
The worker will be able to enjoy MUBK’s products and services in Japan, including savings, ATMs, and foreign remittance. MUBK is the largest bank in Japan with the strongest nationwide presence, supported by a network of more than 300 general bank branches across 29 prefectures in Japan and more than 90,000 ATMs at branches, out of branches, and convenience stores across Japan.
“This initiative and collaboration with MUFG demonstrate Danamon’s commitment to being a financial solution provider and a customer-oriented bank. Together with MUFG as our parent company, and its group members and also strategic partners, Danamon will continue to collaborate closely to fulfill our customer’s needs.” added Yoshida.
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For more information, please contact:
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Tarida Fransiska Corporate Communications Manager PT Bank Danamon Indonesia Tbk |
Menara Bank Danamon Jl. HR Rasuna Said Blok C No. 10 Kelurahan Karet, Kecamatan Setiabudi Jakarta Selatan 12920, Indonesia
Cellular Phone: Email: hellodanamon@danamon.co.id
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