Job Discussion Forums

[einsenundnullen]

Hello,

Can anyone comment on Lloyds TSB for moving money? Any trouble with
their system? Can anyone suggest other firms that move funds? Going
with postal money orders isn't such an attractive option.

Thanks,
Chris

[grace]

I totally agree with you. I too would like to know if any alternatives exist. I send money back home in Canada monthly through the postal system, and it takes a little bit over three weeks to arrive. I wish they had Western Union in Japan. When I was teaching overseas in different countries, that's how I would send money home. I think that it's the most convenient and fastest way. Grace

[Mike L.]

Lyods works. It's a bit challenging at first as you have to have a furcomi card made, but the bank people can always help.

It takes a day or two to go into account back home.

The fee is 2000 yen, plus the furkomi charge 450 yen,(?) and of course whatever your bank decides to charge you. For me it's $10 in Canada.

The post office may be cheaper but I hear they're exchange rates are not so favorable. Meaning if you send a large amount of money you may be losing out a bit.

However, I've never used the post office, so I'm not 100% sure.

[G Cthulhu]

[easyasabc]

I've been using the Lloyds thing for about a year now and compared to using the Post Office before that its a dream.

I know it depends on where you are sending to but for me (to Australia) the post office took 3-4 weeks and at that time you weren't able to send it directly to an account so I had to send it to my family and then wait while they deposited it into my account. With Lloyds the money is in my account in Australia the same day.

Apart from the Lloyds charge of 2000 yen my bank in Japan charges 630 yen to make the furikomi transfer to Lloyds then my bank in Australia charges me $6.00. For the convenience I think the charges are worth it.

I found it very easy to set up because Lloyds send you a letter in Japanese which says exactly what you what to set up. You just take it in to your Japanese bank and give to the teller. It might take a couple of dasys but it's pretty painless.

[foster]

Lloyds was easy for me...and a bit pricey. 2000Yen in Japan, 10$ at CIBC in Canada, plus my Credit Union took $20.

The fact that it made it there in about 36 hours was great.

I had a letter (no card) and I would go into the bank, with my most pitiful HELP ME look on, the teller would take me to a machine, punch some numbers, let me punch in my PIN and then finish it.

Easy Peasy I tell you....I think worth the cost. I tried to send home LOTS of $$$ at once, enough for 2 or 3 months, and this helped me cut costs, since all the banks charged a flat rate.

[canuck]

I use Lloyds to Canada. It's easy. Not a problem. I thought the post office was actually cheaper....but it takes way longer. Another option is to send through UFJ Banks. You can do it through the booths and all the tellers speak English. You just need to make sure you have the right information. It's 4500 yen however, so Lloyds is the better option.

I've also heard of people sending money though Federal Express or UPS. Sending cash. It's totally illegal to send cash, but they wouldn't check. It's not insured either, but it's trackable. How often does the package not get there through Federal Express. A risk, but people have done it. You just make sure the waybill is labelled PRINTED MATTER.

In the end, unless you're going to carry it with you when you go back, just use the post office or Lloyds. Simple. In the end, if you spend an extra $100 over the course of the year, what's the big deal? Don't sweat the small stuff.

[shmooj]

[shmooj]

[JimDunlop2]

Lloyds rocks! But it is expensive... Never done the postal thing. The real question here is: MUST you remit money?

If not, there are many great offshore investments that you can put money into that don't involve expensive transfers.... An investment counsellor in Tokyo was telling me about one option that involves getting a Japanese credit card (challening but not impossible), where the funds are automatically withdrawn from your Japanese savings account, and then using said card to send money to the investment company... So there is no (or minimal) interest accrued on the credit card, and otherwise no 2000yen transfer fees, blah, blah blah.....

I've done something similar once out of necessity when I had to pay rent, was broke, and couldn't use my credit card to withdraw cash (PIN# didn't work) or to pay rent directly.... I used a credit card to send myself money via Paypal (which then automatically transfers into my Canadian bank account several days later)... Then I just withdrew the cash from a postal ATM using my Canadian bank card.... Worked a treat! Don't remember what it cost me though...

Anyway, good luck.... Remember the laws of work: you can have things done: 1) well 2) cheaply 3) quickly..... But you may only choose two out of three.

[grace]

Thanks shmooj. I didn't know that Western Union existed in Japan. When I first got here and asked my students if it existed, they had never heard of it. When I explained to them what it was, they were really puzzled. I am at the moment living in Kochi City, although I am moving to Matsuyama in December. Both cities are on the island of Shikoku, which can be a little remote and frustrating at times. Do you know if there are any Western Unions in Hiroshima, since it'll be the biggest city from Matsuyama? Making the monthly trip to Nagoya is a little bit expensive for me. I think that I'll stick with the post office, since I doubt that Lloyds exists on Shikoku. Grace

[Gordon]

If you look at the above Western Union site,　you`ll see they only have branches in a few areas. Sorry Grace, they`re nowhere near Shikoku.
I`m in Takamatsu and know how you feel about the remoteness factor. But hey, where`s the traffic and pollution?

[shmooj]

[easyasabc]

Grace,

Re:

[Gordon]

Shmooj,
Grace was talking about Western Union, not Lloyd's.