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DoctorPayne
Joined: 10 Nov 2004
Posts: 72
Location: Some forest in Canada
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 Posted: Fri Mar 04, 2005 8:26 pm Post subject: Sending cheques |
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Wouldn't the cheapest way to send money home be sending cheques by mail? I was planning on sending cheques from my Japanese account home that my bro-skie could cash into my domestic bank account. Then I would only pay the cost of mailing an envelope right? Am I missing something?
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Glenski
Joined: 15 Jan 2003
Posts: 12844
Location: Hokkaido, JAPAN
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| Posted: Fri Mar 04, 2005 9:58 pm Post subject: |
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Japanese banks don't deal in checking accounts.
As far as I know, even a cashier's check wouldn't work because it would be in yen.
You can send home a money order in your own currency, but you'd have to get it from a Post Office, and you'd have to pay about 700 yen for each one. |
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Celeste
Joined: 17 Jan 2003
Posts: 814
Location: Fukuoka City, Japan
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| Posted: Sat Mar 05, 2005 3:57 am Post subject: |
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| The cheapest way to send money home is a postal money order, but it is awfully slow if you are not dealing in American dollars. (I am from Canada, and it took over 3 weeks the one and only time I tried it)Use Go Lloyds. It is so much easier and cheaper and faster than just about every other method. Cheques are pretty much non-existant in East Asia. (Hence the reason why everyone carries so much cash all the time.) We are paid through direct deposit or cash in a nice brown envelope. If you buy something big, sometimes people use a credit card, but more often, you hand over a big fat envelope of cash. (My bank account has a withdrawal limit of 2 000 000 yen per day- about $20 000US) |
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Gordon
Joined: 28 Jan 2003
Posts: 5309
Location: Japan
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| Posted: Sat Mar 05, 2005 7:29 am Post subject: |
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| Celeste wrote: |
| (My bank account has a withdrawal limit of 2 000 000 yen per day- about $20 000US) |
Don't you just hate that. It takes a week to drain your bank account with an ATM.  |
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DoctorPayne
Joined: 10 Nov 2004
Posts: 72
Location: Some forest in Canada
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| Posted: Sat Mar 05, 2005 7:48 am Post subject: |
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| If I want to send a money in yen or American funds to Canada and then have someone change it in Canada would that be faster? What about transfers online using online banking, does that work? |
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Gordon
Joined: 28 Jan 2003
Posts: 5309
Location: Japan
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| Posted: Sat Mar 05, 2005 7:53 am Post subject: |
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| DoctorPayne wrote: |
| If I want to send a money in yen or American funds to Canada and then have someone change it in Canada would that be faster? What about transfers online using online banking, does that work? |
If you send money to Canada with Lloyds you exchange it with Lloyds and it will arrive in Cdn funds. You pay about $10 with your Cdn bank (I do anyways) and 2,000 yen to Lloyds. The exchange rate is a fair one and you'd be hard pressed to get a better rate. I bet if you were to fly home with your yen and deposit it in your accountin Canada, you'd get less money because the exchange rate wouldn't be as good with Lloyd's.
It takes 1-2 days for the wire transfer to go through with Lloyds once you set up an account. Not sure how you want it faster than that. |
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