| View previous topic :: View next topic |
| Author |
Message |
LobsterSan
Joined: 26 Apr 2005
Posts: 17
Location: Fukuoka
|
 Posted: Mon Mar 13, 2006 2:48 am Post subject: What's the best way to transfer money *into* Japan? |
 |
|
No money laundering schemes here...
Anybody know how to get money from a foreign account into Japan easily and relatively cheaply? |
|
| Back to top |
|
 |
PAULH
Joined: 28 Jan 2003
Posts: 4672
Location: Western Japan
|
| Posted: Mon Mar 13, 2006 3:40 am Post subject: Re: What's the best way to transfer money *into* Japan? |
|
|
| LobsterSan wrote: |
No money laundering schemes here...
Anybody know how to get money from a foreign account into Japan easily and relatively cheaply? |
Do you have a bank account here?
Wired or money transfer is the best bet.
Citibank also has branches here. |
|
| Back to top |
|
|
LobsterSan
Joined: 26 Apr 2005
Posts: 17
Location: Fukuoka
|
| Posted: Mon Mar 13, 2006 7:05 am Post subject: |
|
|
Yes, I have a Japanese bank account. Roughly, how much does it cost to set up a wire or money transfer, respectively? And does it fetch a fair exchange rate?
I'm considering just moving my accounts to Citibank, so everything would be easy to transfer. However, I'm still concerned about getting a good exchange rate without extraneous service charges. |
|
| Back to top |
|
|
PAULH
Joined: 28 Jan 2003
Posts: 4672
Location: Western Japan
|
| Posted: Mon Mar 13, 2006 7:13 am Post subject: |
|
|
| LobsterSan wrote: |
Yes, I have a Japanese bank account. Roughly, how much does it cost to set up a wire or money transfer, respectively? And does it fetch a fair exchange rate?
I'm considering just moving my accounts to Citibank, so everything would be easy to transfer. However, I'm still concerned about getting a good exchange rate without extraneous service charges. |
Im in Japan so I have no idea what it costs to send money here.
To send $US overseas from japan costs about 2500 yen plus you pay extra to change it into a foreign currency.
Rates change on a daily basis and you have to pay whatever rate the bank offers.
Citibank you have to have several thousand dollars sitting in the bank account to get free bank transfers between branches. |
|
| Back to top |
|
|
tokyo376
Joined: 29 Jan 2006
Posts: 39
Location: Tokyo
|
| Posted: Mon Mar 13, 2006 7:29 am Post subject: |
|
|
| Not sure what size of sum we're talking about, but if you have a foreign ATM card on the PLUS system, you can make a withdrawal from your foreign account at any branch of the post office. |
|
| Back to top |
|
|
LobsterSan
Joined: 26 Apr 2005
Posts: 17
Location: Fukuoka
|
| Posted: Mon Mar 13, 2006 7:31 am Post subject: |
|
|
I've used GoLloyds a few times before, but I'm doing a lot more international transactioning recently so it's not very feasible for me anymore. The thing that kills me on the transfers isn't so much the service fee, but the discrepency in exchange rate that the banks will sell and buy for. Quite often, the actual rate may be something like 116JPY to the US$, but the bank actually "buys" yen from you something more along the lines of 111JPY to the US$, on top of the service charge.
I as well am quite a novice when it comes to international exchange rates and bank fees. I guess I'll look into transferring my money into Citibank to try and at least get free transfers. |
|
| Back to top |
|
|
LobsterSan
Joined: 26 Apr 2005
Posts: 17
Location: Fukuoka
|
| Posted: Mon Mar 13, 2006 7:35 am Post subject: |
|
|
| tokyo376 wrote: |
| Not sure what size of sum we're talking about, but if you have a foreign ATM card on the PLUS system, you can make a withdrawal from your foreign account at any branch of the post office. |
Ah, that's a good idea! I forgot about that... thanks. However, do you know if there are any charges for doing so? I've always heard that using credit cards to get cash from foreign ATMs was the best way to avoid charges and lousy exchange rates, so maybe this would be a great way to go. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
