Interesting option if you can get it to work
You might know that I am a big fan of THEO. You can see my latest update on them here. I love the simplicity of their product, the user-friendly interface, and the great customer service. Their fees are still a little high, but comparable to similar (inferior) robo-advisors in Japan.
A reader alerted me to a new service THEO started offering last month: they will take a regular amount out of your bank account each month for free (minimum 10,000 yen a month).
This has three benefits: if saves you the bank transfer fee (although I use one of my free ones from Shinsei Bank for that), it helps you save and invest regularly, and it automates the process, so that you can set up your account, arrange the transfer, then forget about it for twenty years and wake up richer one day.
If you can get it to work, that is.
I have a slightly complicated name that has about six variations I use in Japan (not by choice, but rather because various companies and institutions have taken it upon themselves to decide how my name should be written. Why they can't just let me decide I don't know.
It seems the name on my THEO account doesn't match the name on my bank account, so I haven't been able to set up the automatic transfer so far (keep getting error messages). I have heard from people that were able to set it up without incident though, and it seems like a really quick and simple process as long as your names match ;)
The customer service guys have been great at trying to sort it out, although so far without any luck.
How about you? Are you using THEO? Do you like it as much as I do?