How to transfer money to Japan

 

When you first find that you need to transfer money to Japan, the options available to you can be somewhat daunting.

But there are really just three main ways to transfer yen: through a bank, a Money Sending Bureau or a foreign exchange broker.

Banks can be useful if you need to transfer yen to somebody with a bank account in Japan, say with Bank of Tokyo-Mitsubish UFJ or the Sumitomo Mitsui Financial Group. 

In fact, you can usually organise a transfer with just one visit or telephone call.

Unfortunately, this simplicity comes at quite a high cost and you can expect to fork out for per-transfer fees every time you make a new transfer to Japan.

The fact that the yen exchange rate is unlikely to be particularly competitive will also eat into the amount of yen you are ultimately able to transfer.

Money Sending Bureaus come with a similar problem; they impose high per-transfer fees on top of relatively poor currency exchange rates.

The fees with these small establishments can be as much as ten or 15 per cent of the total amount that you need to transfer.

If you want to find a way to transfer money to Japan without forking out these high fees every time you move some yen, then the third option, using a foreign exchange broker, could be for you.

Brokers in general tend to offer some of the most competitive exchange rates on the market due to the fact that they move an enormous amount of currency on a daily basis.

But RationalFX goes one further by promising you a low fee service when you transfer yen to Japan with us.

Why not open an online account for free today to check out exactly how much you could save when you move money with RationalFX?