I have over 1,000,000JPY in my Paypal account and keep getting prompted to move it or I’m gonna lose it. I don’t know when the deadline for this is (the only date I could find was May 1st, but it’s not clear) but I know I need to move it fast. I connected my bank and all looked good so I tried a transfer of $5000 USD. Paypal took their massive fee ($250) as they do, and a week later I get notified that it was rejected and they returned it to my account (MINUS the $250 fee).
Aside from the fact that I just paid $250 to find out that my account didn’t work, what do I do in this situation? My current bank account is Prestia, which I know is garbage but I’ve tried to open an account with a different bank (SMBC Olive and also Rakuten) and was rejected because I’m self-employed so “they can’t verify my income” is a good enough excuse for them I guess – even though I’m applying for a savings account not a credit card?? Anyway.
My visa is in the process of getting renewed at the moment so I don’t even have enough time on my zairyu card to open a Japan Post Bank account which was going to be my fallback option. I should get a new visa within a few weeks but I’m still worried that I’m running out of time to transfer this money.
The only option forward I can see at the moment is to pay some of it to my husband’s paypal account to get me under the 1,000,000 yen limit. We often work together and I already pay him a fee for his work as a contractor (which he obviously pays tax on etc). So could I pay him (for helping me with my work as usual) via Paypal which would at least buy me more time to find a bank account to withdraw to? Does this sound like a good solution to you or is it likely to get side-eyed by the Tax Office?
Side note: how great is Paypal, amiright? /s
by lawd_farqwad