Job Discussion Forums

Lady0424 · Joined: 14 Jun 2006 Posts: 39

Hey everyone, will be going to Japan in Sept. and just wondering- what is the best way to send money home? I was looking at citibank and it looks like they have banks in Japan so would I be able to directly transfer the yen in Japan into my US account?
Cheers
Hana

MrCAPiTUL · Joined: 06 Feb 2006 Posts: 232 Location: Taipei, Taiwan

That would be an ideal setup. However, make sure Citibank has banks in YOUR area of Japan. They may have banks in Tokyo, but none in Nagoya. If that is the case, it may be a huge inconvenience. Find branch locations in Japan and see if there are any nearby to where you will be.

JimDunlop2 · Joined: 31 Jan 2003 Posts: 2286 Location: Japan

Lloyds. www.golloyds.com 2,000 yen per transfer; money's there the next day (usually).

markle · Joined: 17 Jan 2003 Posts: 1316 Location: Out of Japan

MrCAPiTUL · Joined: 06 Feb 2006 Posts: 232 Location: Taipei, Taiwan

Markle, One would think she would be able to line something up by way of her local branch office and her JP office. They can do it electronically with Swiss Accounts. So long as she can get the yen converted to dollars and into her account back home, it should be feasable. The way we used to handle it at Wachovia, was people would send us their money, we'd convert it into USD, and deposit it. It depends on the relationship with the bank, the average daily balance amount, and the type of account, but some give discounted wire transfers. If it is all in house, the process SHOULD be a little bit smoother with fewer potential hang-ups.

As for depositing Yen into an account in Japan and having it show up as USD, I would doubt that; as for converting Yen into USD at a local Japanese branch of Citibank, I doubt that, too. USD into Yen, perhaps, but the opposite way, it is doubtful. Possible if they have a thorough exhange office in house, but doubtful.

cornishmuppet · Joined: 27 Mar 2004 Posts: 642 Location: Nagano, Japan

Go to the post office. Take your gaijin card. You have to fill out a form with your bank details and all that, and then pay a fee of 2,500 (?). They used to do a telegraphic transfer but nows its only by ordinary remittance, which takes up to six working days. Because the fee has risen I suggest you send it home every few months as a lump sum, otherwise those fees can really add up. As far as I know this is the case across Japan, but correct me if I'm wrong. Its definitely the case in Nagano-city.

Dipso · Joined: 28 Apr 2004 Posts: 194 Location: England

*wrong thread - please ignore*

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

If you're going to deal directly with Citibank, find out what the processing fees are on both ends. It might be greater than the 2500 yen fee from the post office or the 2000 yen fee from Lloyd's.

cornishmuppet · Joined: 27 Mar 2004 Posts: 642 Location: Nagano, Japan

Yeah, sorry I forgot to mention that you get charged at the other end by your recieving bank. I'm not sure how they work it out, but it usually works out about 1000 yen.

myesl · Posted: Sat Jul 22, 2006 10:32 am Post subject:

Is Western Union common in Japan these days? I've used it in China where it's connected to the post offices.

Send................Fee
US$1-500.........US$15
501-1,000.........20
1,000-2,000......25

Instantaneous, but someone has to pick it up on the other end.