Something about cash fraud on the rise and a deadline to make sure your transactions out of country aren’t abunai to the country. I’ll go in eventually when I brush up on my banking vocab
All banks do this (sooner or later). It’s in your best interest to go provide them with your updated residence card.
Got one from mizuho and the transaction they asked me to verify was a home loan payment… to them…
Did you recently transfer a large amount of money domestically or overseas? Anything over 350k triggers the same response from SMBC for me.
I have never been asked and so I’ve done two transfers each around 2000 dollars without a hitch. I don’t know if it helps or has an effect but I had to provide details about my job while creating the account.
Only once so far last year. Was a hassle but I submitted it and I guess they’re fine with it
Have you recently made a transfer out of the country? It is standard to have remitters give the purpose of the remittance and check a box affirming that you are not funding terrorism. Normally you would do this while making the remittance; was yours made online?
This really is a requirement, and is separate from the other huge hassle some banks are imposing on customers, which is to force only immigrants to repeatedly prove their visa status and period of stay. That one is only administrative guidance by the Kin’yūchō, not law, though some (Japan Post) will try to obfuscate that fact. Historically Japanese banks have been lax in KYC so as a cynic might expect, they’re targeting the weakest members of society rather than putting effort in to identify genuinely suspicious customers.
Assuming your transfers are for non-terrorist activities like student loan repayments, funding of retirement accounts, and family expenses, just indicate such and check the box. Online, some banks will let you pre-fill the previous remittance’s details. I’ve switched to doing mine online and it’s pretty hassle-free.
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All banks do this (sooner or later). It’s in your best interest to go provide them with your updated residence card.
Got one from mizuho and the transaction they asked me to verify was a home loan payment… to them…
Did you recently transfer a large amount of money domestically or overseas? Anything over 350k triggers the same response from SMBC for me.
I have never been asked and so I’ve done two transfers each around 2000 dollars without a hitch. I don’t know if it helps or has an effect but I had to provide details about my job while creating the account.
Only once so far last year. Was a hassle but I submitted it and I guess they’re fine with it
Have you recently made a transfer out of the country? It is standard to have remitters give the purpose of the remittance and check a box affirming that you are not funding terrorism. Normally you would do this while making the remittance; was yours made online?
This really is a requirement, and is separate from the other huge hassle some banks are imposing on customers, which is to force only immigrants to repeatedly prove their visa status and period of stay. That one is only administrative guidance by the Kin’yūchō, not law, though some (Japan Post) will try to obfuscate that fact. Historically Japanese banks have been lax in KYC so as a cynic might expect, they’re targeting the weakest members of society rather than putting effort in to identify genuinely suspicious customers.
Assuming your transfers are for non-terrorist activities like student loan repayments, funding of retirement accounts, and family expenses, just indicate such and check the box. Online, some banks will let you pre-fill the previous remittance’s details. I’ve switched to doing mine online and it’s pretty hassle-free.