Dai-ichi Life NEOBANK Complete Guide
A neobank powered by SBI Sumishin Net Bank and Dai-ichi Life — arguably the best value online bank in Japan.
Open an account and receive ¥1,500 cash plus 500 V Points worth of bonus.
- ¥1,500 cash bonus on account opening: Deposited the next day, no spending required, 100% guaranteed
- Plus 500 V Points (¥500 value): After V Point linking + a balance of ¥30,000 by month-end, total bonus ≈ ¥2,000 equivalent
- Debit Premium with 1.5% rewards: Upgraded March 2026, no annual fee, among Japan’s top-tier debit cards
- Up to 14,040 points per year via “bank point activities”: Earn from incoming transfers, direct debits, and salary deposits — no spending needed
- August 3, 2026 — Bank name change: Becomes “Docomo SMTB Net Bank”. You’ll need to update the bank name with payers ⚠️
What is Dai-ichi Life NEOBANK
Dai-ichi Life NEOBANK is an online banking service launched through a partnership between Japan’s major life insurer “Dai-ichi Life Insurance” and “SBI Sumishin Net Bank”. Technically, it’s an independent branch of SBI Sumishin Net Bank called the “Dai-ichi Life Branch” (branch code 303), accessed through a dedicated smartphone app.
In a nutshell:
Powered by SBI Sumishin Net Bank, Japan’s largest neobank — top-tier security and stability
Dai-ichi Life Insurance serves as a banking agent providing the customer-facing entry point
A dedicated point program exclusive to this branch — more rewarding than standard SBI Sumishin
Open your account entirely from your smartphone — no branch visit, no paper mail
Recent Corporate Restructuring
On October 1, 2025, SBI Sumishin Net Bank joined the NTT docomo group, becoming a jointly owned bank between docomo and Sumitomo Mitsui Trust Bank. The same day, SBI Sumishin launched a new service brand “d NEOBANK” — a new partner branch tied to the docomo points ecosystem, alongside Dai-ichi Life NEOBANK, V NEOBANK, and JAL NEOBANK.
Going further, on August 3, 2026, SBI Sumishin Net Bank will officially be renamed “Docomo SMTB Net Bank”. The key facts:
- ✓ Bank code (0038), branch code (303), account numbers — all unchanged
- ✓ The app, login ID, password, and point balances — all continue to work
- ⚠️ However: from August 3, all incoming transfers, credit card direct debits, and salary deposits will need to specify the new bank name “Docomo SMTB Net Bank”. The old name “SBI Sumishin Net Bank” will only be accepted until October 30, 2026.
Why It’s Worth Opening — In One Sentence
It bundles the “strongest fundamentals of any Japanese neobank” (SBI Sumishin’s free transfers, ATM access, and SBI Securities integration) with “exclusive Dai-ichi Life perks” (a powerful point program plus account-opening cashback) — delivering one of the highest overall returns among Japan’s online banks.
¥1,500 Sign-up Bonus Details
Register through the referral code on this site, and both you and the referrer receive ¥1,500 in cash (not points — actual cash that can be withdrawn). There are no spending requirements, no designated transactions — just a successful account opening guarantees you the bonus.
Earn Another 500 V Points
Beyond the ¥1,500 from the referral code, Dai-ichi Life NEOBANK runs an ongoing “V Point Program”. After opening your account, complete these two steps to earn an extra 500 V Points (worth ¥500):
- In the app, go to “Customer Information” → “V Point Application” to link your V Point account
- On the last day of the month following account opening, hold a total JPY deposit balance ≥ ¥30,000 (combined ordinary deposit + time deposit + SBI Hybrid Deposit)
Together, that’s ¥1,500 + ¥500 = roughly ¥2,000 in opening rewards — currently one of the most generous offers among Japan’s online banks.
Core Benefits of Dai-ichi Life NEOBANK
Beyond the account-opening cashback, Dai-ichi Life NEOBANK also offers several day-to-day advantages that competing online banks can’t easily match:
Transfers to any SBI Sumishin Net Bank account (including all NEOBANK partner branches) and Sumitomo Mitsui Trust Bank are unlimited and free — a perk most other neobanks don’t offer
5 free deposits/withdrawals per month. Use 7-Eleven Bank, Lawson Bank, AEON Bank, Japan Post Bank, E-net and virtually every major ATM in Japan
Via SBI Hybrid Deposit, funds automatically link to SBI Securities buying power. Ordinary deposit rate rises from 0.30% to 0.31%, with full deposit insurance protection up to ¥10 million
e-KYC takes about 10 minutes. Apply between 10:00 and 22:00 and you can finish account opening the same day and start using it immediately (※ except for child accounts, see drawbacks section)
Foreign residents aged 15+ living in Japan can apply normally. Residence Card is accepted as identification
SBI Sumishin (soon to be Docomo SMTB Net Bank) + Dai-ichi Life Insurance — backed by the combined weight of NTT docomo + Sumitomo Mitsui Trust + Dai-ichi Life
Debit Premium: 1.5% Rewards on a Top-Tier Debit Card
On March 24, 2026, Dai-ichi Life NEOBANK launched a major debit card revamp, officially renaming it to “Dai-ichi Life NEOBANK Debit Premium”. The headline change: the base rewards rate jumped from 1.0% to 1.5%, putting it among Japan’s top debit cards.
| Feature | Details |
|---|---|
| Annual Fee | Permanently Free |
| Card Network | Mastercard |
| Base Rewards Rate | 1.5% (15P per ¥1,000) |
| Earning Condition | Monthly total spend ≥ ¥1,000 |
| Point Type | Dai-ichi Life NEOBANK Points (redeem from 500P, 1P = ¥1) |
| Contactless Payment | Apple Pay / Google Pay supported |
| iD Payment | Only Apple Pay supports iD (Google Pay does not) |
| Physical Card | Sleek black design (new issuance temporarily paused, smartphone debit works as normal) |
| International Use | Accepted at Mastercard merchants worldwide. 2.5% fee for ATM cash withdrawals abroad |
| Fraud Protection | Full reimbursement covering 30 days prior to report |
0.3% Rate Categories (Important)
This is a crucial point to remember. The following transactions only earn 0.3% on Debit Premium, so don’t use it as your primary card for these expenses:
- Rail / Transit Charging: Train tickets, express tickets, commuter passes, IC card top-ups (Suica/PASMO/ICOCA)
- Utilities: Electricity, gas, water, NHK fees
- Taxes & Public Fees: Income tax, national pension, national health insurance, municipal payments, government license fees, lottery
- NTT East/West services
- Hospital & clinic payments, charitable donations, etc.
Bank Point Strategy: Earn Up to 1,170P Per Month, Hands-Free
This is Dai-ichi Life NEOBANK’s biggest unique selling point — by setting up a few automated banking operations, you can passively earn up to ¥1,170 worth of points per month without spending any money. Over a year, that’s up to ¥14,040 — essentially risk-free passive income.
Main Point-Earning Categories
| Category | Condition | Monthly Max |
|---|---|---|
| Inbound Transfers from Other Banks | Each incoming transfer of ¥10,000+ counts as 1, up to 25/month (transfers from within SBI Sumishin or Sumitomo Mitsui Trust are excluded) | 500P (20P × 25) |
| Direct Debits | Credit card payments, utility bills, etc. debited from your account: 30P each, up to 10/month | 300P (30P × 10) |
| Salary / Pension Deposits | Deposits labeled “salary” or “pension” in your transaction history (one is enough — having both still earns 200P max). ※ Many users report “bonus” deposits also trigger this reward |
200P |
| Foreign Currency / Structured Deposits | Month-end balance ≥ ¥3 million combined | 100P |
| Real-time Funding | Each real-time transfer ≥ ¥10,000 (only 1 counted per day), up to 2/month | 40P (20P × 2) |
| Card Loan | Active loan balance | 20P |
| Foreign Currency Savings Plan | Monthly deposit ≥ ¥10,000 | 10P |
Realistic Earning Combinations
- 10 direct debits (e.g., credit cards)300P
- 25 inbound transfers (¥10,000 × 25)500P
- 2 real-time funding (via SBI or Rakuten Securities)40P
- Monthly Subtotal840P
- Annual Total (×12)10,080P
- Plan A subtotal840P
- + Salary deposit200P
- Monthly Subtotal1,040P
- Annual Total (×12)12,480P
Key Point-Earning Caveats
- Transfers from other SBI Sumishin branches don’t count: V NEOBANK, JAL NEOBANK, d NEOBANK, SBI Sumishin main branch transfers don’t qualify as inbound
- Sumitomo Mitsui Trust Bank transfers also excluded (officially confirmed)
- Scheduled auto-debits, Money Tap, and Kotora transfers also don’t count as inbound transfers
- To earn inbound transfer points, the money must come from a true external bank via a standard transfer
Money-Saving Combinations
Tip 1: Use “Scheduled Auto-Deposit” to Centralize Funds
Dai-ichi Life NEOBANK’s built-in Scheduled Auto-Deposit service can automatically pull a fixed amount each month from your other banks (SMBC, MUFG, Mizuho, or other neobanks). It’s completely free and doesn’t count against the source bank’s transfer quota.
Once set, funds flow automatically without manual intervention. Note: auto-deposits don’t count toward inbound transfer points, so treat this as a “fund-aggregation tool”, not a point-farming method.
Tip 2: Combine with Sumitomo Mitsui Olive for Inbound Transfer Points
SMBC’s Olive provides a “scheduled fixed-amount transfer” feature with up to 2 free monthly transfers per account. Open separate Olive accounts for each family member, and you can stack multiple auto-transfers to Dai-ichi Life NEOBANK — each ¥10,000+ transfer counts toward inbound transfer points.
Tip 3: Pair with SBI Securities for Real-Time Funding Points + Mutual Fund Plays
After enabling SBI Hybrid Deposit, your Dai-ichi Life NEOBANK balance auto-syncs to buying power in your SBI Securities account (covered by deposit insurance up to ¥10 million).
Real-time deposits initiated from SBI Securities (each ¥10,000+) earn up to 40P per month. This integration is also the foundation for advanced strategies like “credit card mutual fund accumulation then immediate sell”. See our Credit Card Investment Trust Arbitrage Guide for details.
Tip 4: Route All Credit Card Debits Through This Account
Each credit card monthly debit counts as 1 direct debit transaction at 30P. If you have 10+ cards and set them all to debit from Dai-ichi Life NEOBANK, you’ll easily max out the 300P monthly direct debit limit.
Tip 5: Build a “Banking Ecosystem” with Other Neobanks
Use Dai-ichi Life NEOBANK as your “central hub”, combined with:
- AirWallet: Free payments and transfers
- JRE BANK (see our JRE BANK Complete Guide): Redeem for 40% off shinkansen tickets
- Kotora Transfer: Free transfers under ¥100,000
- IDARE: 2% APR prepaid card
This creates a closed loop for transfers, income/expenses, investments, and rewards, maximizing your overall savings efficiency.
Comparison with Other Online Banks
The table below compares Dai-ichi Life NEOBANK against three commonly mentioned competitors. On mobile, scroll horizontally; the first column stays pinned.
| Feature | Dai-ichi Life NEOBANK | SBI Sumishin (d NEOBANK) | V NEOBANK | Rakuten Bank Dai-ichi Branch |
|---|---|---|---|---|
| Branch Code | 303 | 207 / 304 (d NEO) | 106 | 104 |
| Free Outbound Transfers | 5/month (fixed) | 1-20 (Smart Pro) | 3/month (conditional) | Conditional (few) |
| Free ATM Use | 5/month (fixed) | 2-20 (Smart Pro) | 3/month | Conditional |
| Same-Bank Transfer | Unlimited Free | Unlimited Free | Unlimited Free | Conditional |
| Debit Rewards | 1.5% Premium | 0.8% Standard | 1.5% | 1.0% |
| Direct Debit Points | 30P/each · Max 300P | None | None | None |
| Inbound Transfer Points | 20P/each · Max 500P | None | 20P/each · Max 500P | None |
| Salary/Pension Points | 200P/month | Varies | 30P/month | None |
| Real-Time Funding Points | 20P · Max 40P | None | 20P · Max 200P | None |
| Annual Max Points | 14,040P | Varies | 21,480P | None |
| Point Type | Cash Convertible | Smart Pro Pts | V Points | Rakuten Pts |
| SBI Securities Link | ✓ Hybrid Deposit | ✓ | ✓ | × |
| Sign-up Bonus | ¥1,500 + 500 V Points | Conditional | V Point bonus | ¥1,500 |
| Opening Method | eKYC, same-day | eKYC, same-day | eKYC, same-day | Paper mail |
- Opening just one → Dai-ichi Life NEOBANK (best overall value)
- Already have main SBI Sumishin? → Add Dai-ichi Life NEOBANK to double your free transfer quota
- Want two neobanks? → Dai-ichi Life NEOBANK + V NEOBANK (more diverse point-earning options)
- Rakuten ecosystem user? → Rakuten Bank Dai-ichi Branch is an option, but overall weaker
Complete Account Opening Steps
✓ Smartphone (PC application not supported)
✓ ID document (one of): Residence Card, Driver’s License, My Number Card, Driving History Certificate
✓ Email address
✓ Referral code (copy it before you start)
Search “第一生命NEOBANK” in the App Store or Google Play. Note: This is a standalone app, separate from the standard SBI Sumishin Net Bank app.
Open the app. Dai-ichi Life NEOBANK is restricted to “Asset Building Service Members”, so you’ll register first. Email → verify → set password. Takes about 2 minutes.
After member registration, tap “Open Account” in the app to start the formal account-opening flow.
Enter your name, address, date of birth, occupation, and annual income. Address must match your ID document.
Use the app to photograph the front and back of your Residence Card / Driver’s License / My Number Card, then follow prompts to capture a selfie (e-KYC). The whole process takes 3-5 minutes.
This is the critical step! Paste the pre-copied referral code into the “Campaign Code” field. Forgetting this step means losing ¥1,500!
Applications submitted between 10:00 and 22:00 are typically processed the same day. Other times take 1-2 business days. Results arrive via SMS and email.
Log in to the app using your registered email and the initial password sent to you. Set your web login password, transaction password, and transfer limits. Enable biometric authentication (fingerprint / Face ID).
Go to “Customer Information” → “Service Application Status” → “V Point Application” to link V Points. Maintain ≥ ¥30,000 balance by month-end to earn an extra 500 V Points (credited about 2 months later).
After initial setup, the ¥1,500 referral bonus is automatically deposited into your account’s JPY ordinary deposit the day after. You can withdraw it immediately.
Drawbacks and Cautions
No financial product is perfect. Knowing these points up front will help you set proper expectations:
Drawback 1: Smartphone App Only
All banking operations must be done through the mobile app — there is no web-based online banking. If you prefer PC-based banking, this may be inconvenient. Phone changes also require migration steps.
Drawback 2: Child Accounts (0-14 years) Require Paper Mail
While accounts can be opened from age 0, child accounts work differently from adult accounts:
- The parent must first open a Dai-ichi Life NEOBANK account (it can’t be done in reverse)
- The child must live with the parent
- Paper mail-based procedure required; opening takes 10 days to 2 weeks (whereas adult accounts can be opened same-day)
If you want to open a child account, open your own account first, confirm it works, then apply for the child account.
Drawback 3: Adult Application Requires Age 15+
Self-opened accounts require age 15+. Compared to many Japanese banks that require 18+, this is relatively accessible to younger users.
Drawback 4: ¥77 per Transfer Once the 5 Free Are Used
5 free monthly transfers is plenty for most people, but for business users or those making 20+ transfers monthly, costs can add up. Consider also opening the main SBI Sumishin account to boost rank for more free transfers.
Drawback 5: Debit Premium 0.3% on Some Payment Types
As discussed in the Debit section above — utilities, taxes, and IC card top-ups all earn only 0.3%. Use a different card for these.
Drawback 6: Physical Cards Currently Unavailable for New Issuance
As of May 2026, physical card issuance is on hold, but smartphone debit (Apple Pay/Google Pay linked) works as normal — daily payments are unaffected.
Drawback 7: iD Contactless Only Supports Apple Pay
Worth noting: Google Pay does not support iD contactless payments — only Mastercard contactless. Android users needing iD at supported merchants will need a separate iD card.
Drawback 8: August 3, 2026 Rebrand Requires Notifications
As mentioned, after the bank name change, all settings currently registered as “SBI Sumishin Net Bank” need to be updated to “Docomo SMTB Net Bank”. This includes:
- The bank name on credit card debit settings (update with card issuers after August 3)
- Salary deposit settings (notify employer during August)
- Any account information shared with others
The old name “SBI Sumishin Net Bank” will be accepted only until October 30, 2026. After that, transfers from other banks may be rejected.
Common Risk: Account Security
Phishing emails and fake SMS messages are common scam tactics. Dai-ichi Life NEOBANK will NEVER ask for your ID or password via email or SMS. Be sure to:
- Never click links in emails asking for “re-login verification”
- Enable biometric authentication and use a strong password
- Regularly check transaction history and freeze your account immediately if anything suspicious appears
Frequently Asked Questions
Q1. I already have an SBI Sumishin Net Bank account. Can I also open Dai-ichi Life NEOBANK?
Q2. Do I need to buy Dai-ichi Life insurance to use this bank?
Q3. Can I open an account with a Residence Card? Can foreign residents apply?
Q4. How long until I receive the ¥1,500? And the 500 V Points?
The 500 V Points: credited at the end of the second month after account opening. Open in July → arrive at the end of September.
Q5. I forgot to enter the referral code. Can I add it after opening?
Q6. Can I set this account as my credit card debit destination?
⚠️ After August 3, 2026, the bank name changes to “Docomo SMTB Net Bank, Dai-ichi Life Branch”. You’ll need to ask the card issuer to update the bank name (branch code 303 and account number remain unchanged).
Q7. How does it differ from other NEOBANKs like V NEOBANK or JAL NEOBANK?
Q8. What’s the interest rate on ordinary deposits? How safe is it?
Deposits are covered by Japan’s deposit insurance program, fully protecting up to ¥10 million in principal plus interest in the unlikely event of bank failure. Backed by NTT docomo + Sumitomo Mitsui Trust + Dai-ichi Life, default risk is extremely low. See our SBI Securities Account Opening Guide for more on the SBI integration.
Q9. What will change with the rebrand to “Docomo SMTB Net Bank”?
✓ Unchanged: Account number, branch code (303), bank code (0038), the app, password, all features, all point balances.
⚠️ Requires your action:
- From August 3, 2026, anyone transferring money to your account must specify the new name “Docomo SMTB Net Bank“
- Credit card debit accounts → notify each card issuer to update the bank name
- Salary deposits → notify your employer
- International remittance (SWIFT) → new English name is
DOCOMO SMTB Net Bank, Inc.(SWIFT code itself doesn’t change)
Summary: Who Is This For?
✓ Best Suited For
Whether you’re an employee, freelancer, or student, an extra account with free transfers is a smart move
840-1,040P per month with zero spending — up to 14,040P annually, no purchase requirements
Premium at 1.5% rewards, no annual fee, supports Apple Pay
Hybrid Deposit links your bank and brokerage seamlessly
Parents can open accounts for children from age 0 (paper mail required, 10-14 days). Great for family finance management
Backed by NTT docomo + Sumitomo Mitsui Trust + Dai-ichi Life — three of Japan’s largest financial brands
✗ Not Recommended For
All features are app-only; no web banking interface available
Business or high-frequency transfer users will quickly accrue costs beyond the 5-free quota at ¥77/each
Utilities/taxes/IC top-ups only earn 0.3% — consider SMBC NL or similar dedicated cards
Google Pay doesn’t support iD contactless — Apple Pay only
Final Thoughts
Dai-ichi Life NEOBANK scores high across “free transfers, high-rewards debit, banking point hacks, and sign-up bonus”, making it one of the strongest online bank choices in 2026.
With the ¥1,500 referral bonus plus 500 V Points, the sunk cost of opening is effectively negative — you start ¥2,000 ahead just by signing up. This kind of “free money” opportunity is worth seizing.