Hello JapanFinanciers! I know this has been gone over in a few other threads but I have not been able to find the exact information I am looking for so I am asking directly.
I am looking to transfer around 250k USD to JPY soon for a downpayment on a house, and wondering a few things about this whole transaction and process:
1. Is Sony more beneficial than SMBC? Or does it not change anything? With Sony I have to wait two months after depositing the USD to get the platinum S-club level to qualify for the best exchange fees, however the rate is pretty good currently… and of course I want to take advantage of that. If that is the case then moving forward with SMBC may be better?
2. Is there anything else I should be aware about in the process?
3. I know Wise and MUFG are not so great for this but I could also try Shinsei ( I already have multi currency accounts with Sony and SMBC though). Or are there any other ways to move this amount of money with minimal fees etc.?
4. This money is mine from the US… I have not been in Japan more than 10 years and do not have a permanent residency visa so I do not think there are any tax implications…. Or is this Just wishful thinking?
Hoping to get this whole process done quickly before the exchange rates go against me and as I am not the most experienced financial individual any advice is greatly appreciated!
by rasdouchin