Rakuten Bank vs Up Bank.
Rakuten Bank (R70/100) and Up Bank (U55/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Rakuten Bank leads Up Bank 3-2.
| R Rakuten Bank №33 · JFSA 70 /100 | U Up Bank №60 · PRA 55 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 70 /100 | 55 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | Interbank | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Full bank JFSA | Payment inst. PRA |
| Deposit guarantee Per depositor | Safeguarded No DGS | Safeguarded AU.FCS |
| Reach | ||
| Markets served Licensed jurisdictions | 1 country | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | Yes | No |
| UX | ||
| Trustpilot Customer score | — | 4.0 ★ 2k reviews |
| App store iOS + Android avg | 4.3 ★ iOS 4.4 · And 4.2 | 4.8 ★ iOS 4.8 · And 4.7 |
| Read review → | Read review → | |
Pick Rakuten Bank if…
Largest Japanese internet-only bank by customer count (~14M+) and the only TSE Prime-listed pure-play net bank (TYO: 5838, IPO 21 April 2023 — the largest Japanese IPO in five years at the time). Originally chartered as eBank in 2001; acquired by Rakuten Group (TYO: 4755) in 2009. Structural moat is the Rakuten Points + Rakuten Card + Rakuten Securities + Rakuten Mobile + Rakuten Ichiba ecosystem — points cross-pollinate across the entire surface area. Full FSA Banking Act licence; statutory DICJ member at the JPY 10,000,000 ceiling.
Pick Up Bank if…
Australian neobank built on top of Bendigo and Adelaide Bank's APRA-regulated charter — direct FCS AUD 250,000 cover via the parent. Strongest Australian neobank UX for under-35 consumers; budgeting and pay-day forecasting are best-in-class. No FX markup makes it travel-friendly.
- Best for fees Tied
- Best for protection Rakuten Bank won 1 of 2
- Best for reach Rakuten Bank won 1 of 3
- Best for ux Up Bank won 2 of 2
Rakuten Bank vs Up Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Rakuten Bank better than Up Bank?
Under our v3 methodology, Rakuten Bank leads Up Bank 3–2 across 12 dimensions. Composite scores: Rakuten Bank 70/100 vs Up Bank 55/100. Rakuten Bank is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Rakuten Bank or Up Bank cheaper?
Monthly fee — Rakuten Bank: €0; Up Bank: €0. Card FX markup — Rakuten Bank: Interbank; Up Bank: Interbank. Tied across fee rows. See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Rakuten Bank or Up Bank?
Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: Safeguarded. Up Bank holds a Payment inst. licence under PRA; deposit guarantee per depositor: Safeguarded. Rakuten Bank is the stronger pick on regulatory protection.
Where can I use Rakuten Bank and Up Bank?
Rakuten Bank operates in 1 country; Up Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.