I was wondering if moving money by PayPal is a good way to avoid being pestered by the bank (with phone calls) when moving money into a Japanese bank account.
In the past, when trying to move money in using OFX, the bank calls me and holds onto the money until I have told them what the money is for. So annoying.
Does the PayPal transfer mean that the banks don’t bother you?
This is my next way of moving my money about from home to here if so.
Cheers in advance.
2 comments
Paypal withdrawals to JP bank is a domestic transfer. So you shouldn’t be pestered. Do keep in mind, you cannot keep a balance of > 1M JPY in Paypal account over 30 days, it will be automatically withdrawn to your linked bank.
That said, unless you have a reason to use paypal (existing customers/etc) you should probably look into other ~~money laundering~~ transfer services like transferwise or revolut etc.
I transfer money from my US bank account to my Japanese PayPal account through my US PayPal account, then I transfer it to my Japanese bank account through my Japanese PayPal account. It’s fast and my Japanese bank doesn’t charge a transfer fee for amounts over ¥50,000.