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How to Send Money to Japan: A Complete Guide to Fast, Secure, and Affordable Money Transfers in 2023

Do you know it is quite easy to send money to Japan from the comfort of your home? Nowadays, you can use international money transfer services to remit funds to anywhere in the world. The best part is that you do not have to visit a bank to send money to Japan. The process is as simple as opening an account with these platforms and initiating the funds transfer to anyone in Japan without leaving your home.

While there are many online money transfer platforms, several have costly transfer fees. Others do not send the money on time or have issues delivering as promised. In our article, we will show you how to send money to Japan and the various ways to pick the best money transfer services to use for this process.

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What to Consider When Picking Your Money Transfer Service

When choosing a money transfer service, you should take several factors into consideration. While most people overlook these features, paying attention to these factors is essential to enjoy outstanding money transfer services.

Here are key factors to consider when picking a money transfer service:

  • Account Number and Requirements

The first thing to consider is the requirements for opening an account with your chosen platform. Some platforms like Payoneer and Wise offer instant account opening features. Using platforms that take less time to open an account for you. Interestingly, you could even get a bank account number the day you requested.

  • Transfer Fees

One of the essential factors you need to consider before patronizing any money transfer provider is their transfer fee. Several money transfer providers have unusually high rates, which may not work well for you. Instead of using Japanese money transfer providers with high rates, you can opt for platforms that allow you to transfer funds at reasonable rates.

  • Transfer Methods

Another important feature you must not overlook when sending money to Japan via online money transfer operators is the transfer methods. It is best to go with money transfer services that allow you to send money to Japan using various methods like ACH, wire transfer, credit card payments, etc. Some such platforms include Payoneer and Wise.

  • Exchange Rates

When sending money to Japan, nothing is as important as the exchange rates for Japanese money transfers. Note that some platforms charge very low rates but impose unfair exchange rates. Therefore, it is best practice to look for online money transfer services with good exchange rates, so you can enjoy sending money to your loved ones. Reputable money transfer platforms such as Payoneer have favorable foreign exchange rates to help you enjoy transferring money to Japan.

  • Duration of Transfer

Most money transfer platforms do not have instant deposit features. Hence, money takes a few days to reach the recipient’s bank account. For the best experience, you should look for a reputable brand that allows you to send money to Japan within two or three business days. 

Interestingly, services like Payoneer allow you to enjoy instant withdrawals when using its debit card (Payoneer Mastercard). Ensure that the platform you choose does not require you to pay additional or hidden fees for transfers. Also, go for services that support large transfers and do not charge premiums for you to do so. It is better to go with such services rather than those that support smaller transactions and impose unreasonable premiums on large sums.

How to Send Money to Japanese Bank Accounts

Sending money to Japanese banks requires a few things. Unlike previous years, you can send money to online transfer services that allow supporting your local currency. We will look at two ways you could use it to send money to Japanese banks.

  • By using online transfer services
  • By patronizing physical banks

1. Using Online Transfer Services

Several money transfer services allow you to remit money to Japan without going to the bank for a bank transfer. These online services act as intermediaries and transfer money on your behalf. Instead of visiting the bank, you can send money using these online platforms. One of the most reliable bank transfer services you can trust to help you send money to Japan is Payoneer.

One good thing about Payoneer is that it has good terms of service that businesses and individuals can use to obtain money from their clients for services rendered. Unlike several other bank transfer providers on the internet, Payoneer has reasonable transfer fees and other features that make it the ideal service for money transfers to Japan.

What Is Payoneer, and How Does It Help Sending Money to Japan?

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Payoneer is an international platform that allows you to make money transfers and receive payments from clients from more than 200 countries across the globe in over 150 currencies. The platform allows you to track your account balance, check your full transaction history online, track payments, and other features, all from your mobile phone or PC without leaving the comfort of your home. Interestingly, you can monitor foreign currency transactions in real time and check transaction fees without hassles.

Unlike other platforms, Payoneer has different payment methods you can use to pay or withdraw money into your Japanese bank account. You can leverage the prepaid MasterCard, e-wallets, and bank transfer options whenever you want to transfer money to Japan. Also, you can determine whether the recipient or payer pays the transfer fees. Both Payoneer and non-Payoneer users enjoy this platform, which you will not see on most other platforms.

You will enjoy several benefits when using Payoneer to send money to your Japanese bank account. First, you can receive money transfers or request payment from other Payoneer users or third parties without Payoneer accounts. Additionally, you can enjoy the brand’s multiple payout options like prepaid debit cards, global and local wallets, global bank transfers, and checks. But that’s not all. Also, you can access information on transaction descriptions, amounts received or transferred, foreign currency balances, transaction fees, and many other features.

Payoneer Features

Payoneer has several features that make it one of the best platforms for sending money to Japan. First, you stand to enjoy data security when using this platform. The service has security protocols to ensure that no one can access your information. Thus, all card details, bank account details, and other valuable information remain private while using this cash transfer service.

Payoneer also has a vast payment processing system. The service supports ACH payment processing, APIs, accounting integration, billing, and invoicing. You also get access to credit card processing, management, and customizable branding for your businesses. Other features include real-time analytics and real-time data.



How to Use Payoneer to Send Money to Japan

Sending money to Japan is easy once you have the right service with competitive rates. For Payoneer, the first step for you to send money to Japan is to open an account with the service. Payoneer will collect personal details like your name, date of birth, residential information, and identification to verify your identity. Once you complete the registration and verification process, you can send a large sum of money to the intended recipient without issues.

Once you have registered on the platform, you can navigate to the “Pay” tab to continue with your payment process. Next, click “Make a Payment” and select a bank or Payoneer account to proceed. First, you must add the recipient’s account details before transferring the money to them. The final step is to enter the required information and then click the “Pay” tab to send money to your friends, colleagues, clients, or loved ones in Japan.

2. Physical Banks

You can send money to Japan if you depend more on physical banks to make your transfers. JPMorgan Chase Bank and others will allow you to transfer money to Japanese banks. You will have to provide information like bank name, account name, and others to send the money. 

However, you will also have to deal with the interbank rate of the particular bank you want to process your transactions. The good thing about this payment method is that you can send more money to various pickup locations in Japan. Banks mostly use Western Union to make international money transfers. Therefore, the transfer will take longer than online platforms.

Are There Other Alternatives One Can Use to Send Funds to Japan?

You can also leverage several online platforms to send money online. However, it is advisable to use Payoneer since it has amassed a massive following and can offer the best services at affordable rates. Other platforms you could use to send money to your clients, friends, and family in Japan include Wise, Stripe, Square, and others. You can also use cryptocurrencies.

Like Payoneer, these platforms act as payment processing services that help you to process payments to your designated bank account. You can withdraw the funds in Japanese Yen no matter the denomination sent to your Payoneer or online platform.

Why Is It Better to Use Payoneer?

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Unlike Japan Post Bank transfer or other physical money-sending services, you can easily receive money on Payoneer without hassle. Also, you don’t need to look for foreign exchange outlets to change your currency. You just have to input your account details, and the platform automatically converts your international currency to the Japanese Yen in seconds.

Payoneer also allows you to monitor your transactions in real-time – something you cannot do with physical banks or most other online platforms. The online payment service provides an estimated time your recipient will receive money in their accounts. Also, you can enjoy instant withdrawals when you use the brand’s Mastercard to make withdrawals. Payoneer does not charge you for holding an account. There is, however, a charge that will apply to your account if you do not use it for a period of 12 months or longer.

Conclusion: How to Send Money to Japan

Sending money has become a lot easier in the past decade. With the introduction of online platforms like Payoneer, you don’t need to visit banks to send money to people in Japan. 

To send money smoothly, you must open an account with Payoneer or other online platforms. These platforms send the money on your behalf and allow you to make deposits or withdrawals using credit cards.

If you love physical banking, you can visit banks to send money to your loved ones at standard rates. However, we highly recommend using online banking services like Payoneer to enjoy better exchange rates and top-tier services. The transfer is also quicker and more secure with Payoneer.

For small businesses this is also a great operational platform.