Sending Money Home

There are multitude of reasons that we would need to send money back home while we are in Japan. From bills, to making deposits to a saving account, and everything in between. How do you send money to (and from) Japan?

How to Transfer Money Overseas from Japan
There are a variety of ways to send money home. From Western Union, to dedicated banking services, to the Japan Post. Which option is best for you?

Use a Bank Service Such as GoRemit or Shinsei
One way to transfer money from Japan is perhaps one of the most widely known and used. It means opening a remittance account with GoRemit  or Shinsei, which specialize in expat banking services. Sending money with GoRemit costs 2000 yen (4000 yen for Shinsei), not including the transfer fee from your Japanese bank account to your GoRemit account. On the other hand, most banks charge a Y2500-3000 fee to receive the funds, so the total for using GoRemit could be more. Please note that GoRemit is also going through structural and service changes so please keep an eye out for this. In addition, unlike the post office, if you send before 3pm, the money is meant to be remitted same day. That’s a major plus over other methods.

Use Japan Post Bank (ゆうちょ銀行)
Japan Post is a well-known (and seemingly quite affordable) way to transfer money out of Japan, via its bank (Japan Post Bank ). However, it is worth noting there are only 233 branches in Japan that provide this service, so make sure there's one nearby. To use this service, you have two options: a) A paper money order (住所あて送金, じゅうしょあてそうきん, juusho ate soukin). This means the funds (in your target currency) will be sent in an envelope to either a bank or address. This is neither fast nor secure. b) An electronic transfer (口座あて送金, こうざあてそうきん, kouza ate soukin), in which case the money is transferred direct to an overseas bank account (in your target currency.) This can be done with cash or via your Japan Post Bank account, if you have one. To do so costs 2500 yen in most cases. Sending money to a US bank account costs just 2000 yen, excluding receiving fees. What’s more, the exchange rates are meant to be very competitive. To transfer money from the post office, you’ll need your alien registration card (Residence Card after July 9th) or passport and you will need to fill out the appropriate form (the forms have English on them). You can tell the staff which type of transfer you want to do. After going through the process, if you plan to transfer money the same way to the same place more than once, you can ask for a special form (国際送金請求書印字サービス申込書, こくさいそうきんせいきゅうしょいんじサービスもうしこみしょ, kokusai soukin seikyuusho inji sa-bisu moushikomisho) to pre-fill out the information and they can keep it on file for you.

Western Union
-At one of the 8,700 Family Marts in Japan, whom Western Union has partnered with. (Search for onehere. The site is in Japanese but built in web browser translators are a BIG help.)

The details for using Western Union at Family Mart are available here. Keep in mind:*You need to register first, and if you want to use 7-11 must do so again separately.
 * You can only transfer money  in person, but can add possible recipients to your account online.
 * The fees associated with the service are available here, and depend on the amount you send. (If you transfer less than 10,000 yen, the fee is 990 yen.)
 * The annual limit is 5 million yen (see here  for other currency limits.)

-At a 7-11/Western Union partnered ATM. (Search for one here . The site is in English.)

The details for using Western Union at Seven Bank are available here. Keep in mind:*Again, if you do transfer money with Western Union, you’re not told the foreign exchange rate until after the funds arrive. However, one major drawback is that with neither service are you told the exchange rate beforehand. This could leave you vulnerable to receive a bad rate. There’s also the fact that, to actually send money, you must go in person.
 * The annual total for sending money through Seven Bank is 8 million yen (see here  for other currency limits.)
 * The fees are the same as Family Mart's.

Use JTB of SBI Remit
There are other dedicated remittance services you can use to transfer money from Japan, such as  JTB and SBI Remit. Neither of these are banks per se, but provide dedicated services for transferring funds abroad. SBI Remit is web-based, which is an advantage. However, funds are not transferred to a bank account, but a physical location, similar to Western Union (SBI Remit is associated with Moneygram, Western Union’s biggest rival.) Hence for someone to receive the funds, there most be a convenient pick-up point (search for one here ). The basic fee looks about 110 yen cheaper than Western Union for a 10,000 yen transfer, which is also notable. You can find more information about SBI's fees here. JTB is a comparable service to SBI, in that it’s web-based, but depends on someone going to a physical location to receive the funds. In this case, instead of being Moneygram outlets, it’s ATMs associated with Cirrus. However, the website reveals a host of fees associated with the service. If you send more than the maximum 300,000 yen transfer limit, there’s a fee to refund you the excess. Similarly, if you want to check your balance at an ATM, you get charged 100 yen. Last of all, the service costs more than 1000 yen per year just to belong. This compares to SBI Remit, which is at least free. In other words, beware JTB!

Your Bank Account in Japan
Lastly, it’s possible to transfer money overseas from many banks in Japan, although the specifics and costs of each varies. Some banks may require you to sign up for overseas remittance as a separate service. Also, some may only be able to remit to certain countries. Fees will depend on the bank, although it will likely be more expensive than some of the other options mentioned above (3500 yen and up seems to be common). Unless you use a bank that provides these services in English, you’ll have to navigate the process in Japanese.

Words to Know
送金               そうきん                           soukin                         remittance

送金手数料　 そうきんてすうりょう      soukin tesuuryou        remittance fee/charges

外国向送金　 がいこくむけそうきん      gaikoku mukesoukin   overseas remittance

外国送金　　 がいこくそうきん             gaikoku soukin            overseas remittance