Can someone explain the best way to transfer money out of Japan online? I am getting monthly income to JP Post Bank, and need to transfer yen to my Revolut European bank account (I opened up a Yen account there along to my existing Euro account). What’s the best way to do it? Make a Wise account and transfer through it? Is it possible to link Wise to JP Bank? Or perhaps open up Sony/SMBC bank here in Japan and transfer from JP bank to one of those and then do International Transmittance? The typical amount would be around 500 000 Yen or less
6 comments
Yes, I use Wise from MUFJ to an overseas account. You just scan your ID into the app and add bank details to get started it’s fairly quick after they verify you. WU is another option.
Can you do a wire transfer?
I know whenever I transfer money into or out of Japan I just use a wire transfer.
Wise is the absolute cheapest and most hassle-free option in my experience.
Wise if it’s under 1M at a time.
You can do a bit better with dollar or euro denominated account in a major bank, or SONY for that matter, but the difference is kinda small, IMHO
Larger amounts in SWIFT transfers. SWIFT transfers are a fixed rate per transfer. The more you send, the cheaper it is.
Buy crypto