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Sending Money
Domestically
This is some of the most important information you will need while you are living in Japan. In your home countries you will probably be used to using your credit card to pay for things either over the phone, online, or in a shop. This usually isn’t the case in Japan. If you buy plane tickets or need to pay for conference costs, it is more than likely you will pay for this by bank transfer. Once you know the process, it’s relatively easy, and varies little from bank to bank.
Go to the bank counter and say “furikomi o shitai desu kedo.
Yoshi ga arimasen ka” (I’d like to make a bank transfer – do you have a form?)
Fill out the form, which will ask for information such as: bank name, branch name, recipient’s account number, amount to be transferred, recipient’s contact info, your contact info. Be careful not to write outside of the surrounding lines.
Choose how you want to send the form – Telex is expensive but instant, or you can send by mail if it isn’t urgent.
Wait for the form to be processed and then pay.
Keep in mind there will be a bank charge for the transfer. This will range from 100 to 1000 yen, depending on bank, method and amount.
Unless your Japanese is really good, I would recommend taking someone with you the first time such as your supervisor. Your supervisor will most likely take you to set up your bank account when you arrive, so it may be worth asking them to show you how to do it then!
Also – you can do furikomi via the ATMs in the bank. This is a little daunting the first time but cuts out all that pesky human interaction and sitting around and waiting. You can either do it with cash, which you pop into the machine, or directly from your bank account. Check out the ATM Guide!
Furikomi cards
If you plan on sending money transfers to the same place multiple times, you can ask to have a “furikomi ken” made for that specific transfer. If you make multiple transfers to different places, you will need to make separate cards. The process varies from bank to bank, but if you take along all the information of the recipient and say “furikomi ken o tsukuritai desu kedo” (I’d like to make a transfer card) someone should be able to help you. Alternatively these can be made at the end of a transfer from an ATM. Again, see the ATM Guide.
Internationally
A few times over the next year you may want to send money home. If you do save some money (and on our salary, you should!) it is advisable to send it home rather than leaving it to sit in a Japanese bank, as they have interest rates around 0.01% (if you are lucky). Here is some information on the two main methods.
Choice #1: International Postal Money Order
The cheapest way to send money home is via an International Postal Money Order (yubin kawase) at the post office. You CANNOT send this to yourself or your bank at home. So you will have to send it to someone back home who is willing to receive it, endorse it, and deposit it for you. Here's how to do it:
1. Bring some identification (Gaijin card, health card or passport). You can't send money to another country without showing I.D. and giving a reason for sending it (anything is okay; pay for loan, debt etc). They will want to photocopy it.
2. Go to the Green Counter at the post office (it will say Money Order in English). If it is busy take a ticket and wait until your number is called.
3. When it is your turn say "(country) e kokusai sookin shitai no desu ga. Yooshi o (ichi, ni, etc) mai kudasai." You have just said, “I would like an international Money Order for (country). Please give me (1, 2, etc) sets of forms." I have also found that if you say money order with a Japanese accent (i.e.: manee ohrda) they will understand what you are talking about. You will need a separate form for each payee you send to.
4. The form should be in English. If it is not the clerk should be able to help you. **Any form of mistake is a major hassle on this form, so if you make a mistake, ask the clerk right away if it is okay because you may end up throwing it out and starting a whole new form.** After you have filled in the form hand it and the money you want to send, to the clerk. The clerk will at this time ask you for money to pay for the money order;
- a) To send money home to the U.S.A. only it costs 2000 yen. Non-express registered postage is 520 yen and takes 1-2 weeks, or, if you are in a hurry, you can choose to send your money order via EMS Express for 1100 yen, which takes up 3-4 days. Since the general cost of this form of remittance is higher, I would suggest using the second option, which is a Telegraphic Transfer.
- b) The second option is to send money order via a Telegraphic Transfer for a set amount (postage included) of 2500 yen. However, the delivery date of your money order varies depending on the arrival destination. It's best to ask at the Post Office for the approximate date of arrival.
5. The clerk will give you your copy of the form and return the check portion with the amount typed in. You will write in the payee’s name yourself.
Some of you will have to send the check yourself, if so, put it in an envelope, buy a stamp and send it off.
Recently the number of countries that you can send to and the cost of sending has changed. I found the most amazing website in the universe for International Remittance Service via the Post Office (aka. sending money home)
http://www.yu-cho.japanpost.jp/e_s0000000/ssk20100.htm
Choice #2 Wire Transfers – Lloyd’s TSB Bank Transfers
By far the fastest, and almost as cheap, is Lloyds TSB bank transfer (1-2 days). They charge ￥2,000 (for any amount up to ￥1,000,000, I think). However, you can send this money directly to your own bank account in your home country. Your bank at home will probably also charge you a fee, so bear this in mind. You must register (free) with Lloyds before you can send any money. The easiest way to register is over the internet at: http://www.golloyds.com/english/index.asp (click: registrational change of details; then click online application.) or, you can call them in Tokyo and they will send you the necessary forms, which you complete, and then send back. The whole process can take less than a week. Here is how to do it:
1. Contact Lloyds at 03 3589 7745 or 03 3589 7700 Fax - 03 3589 7722
Internet: http://www.golloyds.com/en/
2. When the forms come fill them out (these are also in English). You MUST fill out a reason you are sending money, and remember your full account number from your bank at home.
After you send it back to Lloyds, they send you the bank transfer information. The letter is in both English and Japanese, so you just show it to the teller and say “Furikomi onegaishimasu” (bank transfer please). This is basically the same as a domestic transfer as you are sending the money to your account with Lloyds in Japan, which is then transferred internationally for you. When you do it for the first time, make a furikomi card and then in the future you can send money home in a matter of seconds. Easy peasy! If you need to send money home every month you can make the transfer automatic by asking the bank teller for the necessary forms. I suggest you have your supervisor help you fill out these forms.
- You can send international bank transfers with any large bank in Japan, but the cost is usually much higher (at least ￥6,000). So, even though the set up takes an extra week, I recommend the Lloyds TSB version. Some people don’t use GoLloyds because they say the cost is too high. However for the level and speed of the service and ease of transfer, I really think it’s worth it. I have a Lloyds TSB account back in the UK, and if I transfer money home at lunchtime in Japan, when I check my internet banking at home in the evening, the money is there in my account. Can’t say better than that! Your bank may take a little longer but I really think it’s worth it.