Quick Answer
Wise (formerly TransferWise) is the best option for most foreigners sending money from Japan. It's 5-8x cheaper than bank wires, takes 1-2 business days, and has a great English app. For large amounts (¥10M+), bank wires may offer better rates.
Your options for sending money from Japan 海外送金の方法
Whether you are sending money home to family, paying off student loans, saving in your home currency, or transferring funds before leaving Japan, you need a reliable and affordable way to move money internationally. The good news: you have several options, and some are dramatically cheaper than others.
Here is the landscape in 2026:
- Wise (formerly TransferWise) -- Best overall for most transfers. Transparent fees, real exchange rate, fast.
- Revolut -- Great app, competitive rates, but daily/monthly limits on fee-free exchanges.
- Sony Bank / SMBC Prestia -- Japanese banks with decent foreign currency services. Good for large transfers.
- Traditional bank wire (SMBC, MUFG, Mizuho) -- Expensive but sometimes necessary for very large amounts or specific destinations.
- PayPal -- Convenient if you already use it, but poor exchange rates and high fees.
The cost difference is enormous. On a ¥500,000 transfer to the US, you might pay ¥3,000-5,000 using Wise versus ¥15,000-30,000 using a major Japanese bank. Over a year of monthly transfers, that difference adds up to ¥120,000-300,000 in savings. Let us break down each option.
Wise (formerly TransferWise) ワイズ
Wise is the go-to choice for most foreigners in Japan, and for good reason. It offers the real mid-market exchange rate (the one you see on Google) with a small, transparent fee on top. No hidden markups, no surprise charges.
Here is what makes Wise stand out:
- Real exchange rate -- Wise uses the mid-market rate with zero markup. Banks typically mark up the rate by 1-3%, which is a hidden cost that can be larger than their stated fee.
- Transparent fees -- You see the exact fee before you send. For JPY to USD, it is typically 0.55-0.65% of the amount.
- Speed -- Most transfers arrive within 1-2 business days. Some corridors (like JPY to USD or GBP) can arrive within hours.
- English app and website -- Full English support. The app is well-designed and easy to use.
- Licensed in Japan -- Wise is registered as a 資金移動業者 (funds transfer service provider) with the Kanto Financial Bureau, so it operates legally under Japanese financial regulations.
- Multi-currency account -- You can hold balances in 40+ currencies. Useful if you receive payments in foreign currencies or want to time your conversions.
How to set up Wise in Japan:
Create your account
Download the Wise app or go to wise.com. Sign up with your email. Choose Japan as your country of residence.
Verify your identity
Upload your 在留カード (residence card) or passport plus proof of address. Verification typically takes 1-3 business days. Wise may also require a selfie for identity confirmation.
Link your Japanese bank account
Add your Japanese bank account for funding transfers. You can also pay via debit card (credit cards are not accepted for transfers from Japan).
Send your first transfer
Enter the amount, recipient details, and confirm. Fund the transfer via bank transfer (振込) to Wise's Japanese bank account. The money typically arrives abroad within 1-2 business days.
Wise (ワイズ)
RecommendedThe most popular international money transfer service for foreigners in Japan. Real exchange rate, transparent fees, and fast delivery. English app available.
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Wise limits
Wise has a per-transfer limit of ¥1,000,000 for standard bank transfer funding from Japan. For larger amounts, you may need to make multiple transfers or contact Wise about their business/premium options. There is no annual limit on the total amount you can send.
Revolut レボリュート
Revolut launched in Japan in 2023 and has quickly become a popular alternative to Wise. It is a full digital banking app that offers currency exchange, international transfers, and a debit card -- all in a slick English-language interface.
Key features:
- Fee-free exchanges -- On the Standard (free) plan, you get up to ¥750,000/month in fee-free currency exchange at the interbank rate. After that, a 0.5% fee applies.
- Multi-currency wallet -- Hold and convert between 30+ currencies in the app. Great for people who receive income in multiple currencies.
- Debit card -- Use the Revolut Visa card for purchases abroad or online in foreign currencies. No foreign transaction fee on the free plan (within limits).
- Instant transfers between Revolut users -- If your recipient also has Revolut, transfers are instant and free.
Revolut vs Wise: Revolut can be cheaper than Wise for small, frequent transfers within the free exchange limit. However, Wise tends to be more reliable for large one-time transfers and has a longer track record in Japan. Many foreigners use both -- Revolut for everyday spending and small transfers, Wise for larger remittances home.
Weekend rates
Revolut adds a 1% markup on weekend exchanges (Friday 17:00 JST to Monday 06:00 JST) because forex markets are closed and rates cannot be guaranteed. If you are making a large transfer, try to do it during weekday hours to avoid this surcharge.
Bank wire transfers 銀行の海外送金
Traditional bank wire transfers through Japan's major banks (MUFG, SMBC, Mizuho) are the most expensive option for most people, but they still have their place -- particularly for very large transfers or when your recipient requires a direct bank-to-bank transfer.
The cost of a bank wire from Japan typically includes:
- Sending fee (送金手数料) -- ¥3,500-7,500 depending on the bank and method (in-branch vs online)
- Exchange rate markup -- Banks use their own TTS rate (対顧客電信売相場), which is typically ¥1-2 worse than the mid-market rate per dollar. On ¥500,000, this hidden markup can cost ¥3,000-7,000.
- Intermediary bank fees -- When money passes through a correspondent bank (often in the US), they may deduct $15-30 from your transfer. You often do not know about this until the recipient gets less than expected.
- Recipient bank fee -- The receiving bank may also charge an incoming wire fee ($10-25 in the US, varies by country).
Better bank options: If you prefer using a bank, Sony Bank and SMBC Prestia (formerly Citibank Japan) offer significantly better rates and lower fees than the Big Three. Sony Bank is especially popular with foreigners because it has a good English online banking interface and competitive exchange rates.
When banks make sense
Bank wires become competitive for very large transfers (¥10M+). At that scale, banks may offer negotiated exchange rates that beat fintech services. If you are transferring funds from a property sale or large savings, contact your bank's international services desk to negotiate the rate.
PayPal ペイパル
PayPal is widely known and many foreigners already have accounts, but it is generally the most expensive option for sending money from Japan. Here is why:
- Exchange rate markup -- PayPal's exchange rate typically includes a 3-4% markup over the mid-market rate. On ¥500,000, that is ¥15,000-20,000 in hidden costs.
- Transfer fees -- Sending money to friends/family internationally costs a percentage-based fee on top of the exchange rate markup. The exact fee varies by destination.
- Withdrawal fees -- If your recipient needs to withdraw from PayPal to a bank account, there may be additional fees depending on the country.
When PayPal makes sense: Really only when the recipient can only receive via PayPal, or for very small amounts where the convenience outweighs the cost. For regular remittances, Wise or Revolut will save you thousands of yen per transfer.
Comparison table 比較表
Here is a real-world comparison of sending ¥500,000 from Japan to a US bank account (as of March 2026, approximate):
| Service | Fee | Exchange rate markup | Total cost | Speed |
|---|---|---|---|---|
| Wise | ~¥2,900 | None (mid-market rate) | ~¥2,900 | 1-2 business days |
| Revolut (free plan) | ¥0 (within limit) | None (weekdays) | ~¥0* | 1-3 business days |
| Sony Bank | ~¥3,000 | ~¥0.15/USD | ~¥5,500 | 2-4 business days |
| SMBC (online) | ~¥3,500 | ~¥1/USD | ~¥7,000 | 2-5 business days |
| MUFG (in-branch) | ~¥7,500 | ~¥1/USD | ~¥11,000 | 3-5 business days |
| PayPal | ~¥2,500 | 3-4% (~¥17,500) | ~¥20,000 | Instant to PayPal |
*Revolut is free within the monthly exchange limit (¥750,000 on Standard plan). Amounts beyond the limit incur a 0.5% fee. Weekend transfers add a 1% markup. Costs shown are approximate and vary with exchange rates and transfer amounts.
The numbers speak for themselves. Wise saves roughly ¥4,000-17,000 per ¥500,000 transfer compared to banks and PayPal. If you send money home monthly, that is ¥48,000-204,000 per year in savings.
Reporting requirements 報告義務
Japan has specific reporting requirements for international money transfers. These are governed by the 外国為替及び外国貿易法 (Foreign Exchange and Foreign Trade Act) and tax regulations. Here is what you need to know:
¥1,000,000+ triggers automatic bank reporting
When you send ¥1,000,000 or more in a single transfer through a bank, the bank is legally required to file a 国外送金等調書 (Report on Overseas Remittances) with the tax office. This is automatic -- you do not need to do anything. The report includes your name, address, マイナンバー, the amount, the recipient, and the purpose.
¥30,000,000+ requires a BOJ report
Transfers of ¥30,000,000 or more (or equivalent in foreign currency) require a report to the Bank of Japan (日本銀行) through your bank. This is a balance-of-payments reporting requirement. Your bank will typically help you fill out the necessary forms.
Fintech services (Wise, Revolut) also report
Licensed 資金移動業者 like Wise are subject to the same reporting obligations as banks. If you send ¥1,000,000+ through Wise in a single transfer, a 国外送金等調書 is filed. Splitting transfers to stay under ¥1M does not help -- the NTA is aware of this tactic and may aggregate related transfers.
国外財産調書 (Overseas Asset Report)
If you hold overseas assets (bank accounts, investments, property) totaling ¥50,000,000 or more as of December 31, you must file a 国外財産調書 by March 15 of the following year. This is separate from remittance reporting -- it is about the assets themselves, not the transfers. Failure to file can result in penalties and reduced tax benefits.
No restriction on amounts
Japan does not restrict how much money you can send abroad. There is no cap or limit on international transfers. The reporting requirements are informational -- the government wants to know about large transfers, but they cannot prevent you from making them. You are free to send your legally earned money wherever you want.
Tax implications of remittances 海外送金の税務
Sending money abroad is not taxable in itself. Transferring your own after-tax income to a bank account overseas is simply moving money -- not a taxable event. However, there are some tax-related considerations to be aware of:
Foreign exchange gains
If you convert JPY to a foreign currency and later convert it back to JPY at a higher rate, the gain is taxable as 雑所得 (miscellaneous income). Example: you convert ¥1,000,000 to $7,000 when the rate is ¥143/$. Later, the yen weakens to ¥155/$ and you convert back, receiving ¥1,085,000. The ¥85,000 gain is taxable. This applies regardless of where the money was held.
Large transfers may trigger NTA scrutiny
Because banks report transfers over ¥1,000,000 to the tax office, large or frequent remittances may prompt the NTA to verify the source of funds. This is not a problem if you are sending your own salary or savings. Keep records of your income sources and the purpose of transfers. The NTA is primarily looking for unreported income or money laundering.
Gift tax considerations
If you are sending money to family as a gift, Japanese gift tax (贈与税) may apply. The annual gift tax exemption is ¥1,100,000 per recipient per year. Gifts above this amount are subject to gift tax at rates of 10-55%. Regular support for living expenses and education for dependents is generally exempt, but lump-sum gifts to siblings or parents above the threshold are taxable.
Leaving Japan
If you are transferring money out of Japan because you are leaving, make sure you have filed your final 確定申告 and paid all taxes first. Ideally, complete your tax obligations before making large transfers. Moving money is not restricted, but the NTA may scrutinize large outflows around the time of your departure.
Keep records
For every large transfer, keep a record of: the date, amount, exchange rate, purpose, and source of funds. This protects you in case the NTA asks questions. A simple spreadsheet is sufficient. If you are sending regular monthly remittances from your salary, a note like "monthly savings transfer from salary income" is enough.
Frequently Asked Questions よくある質問
Can I send money from Japan without a マイナンバー?
It depends on the service. Banks require a マイナンバー for international transfers under the 国外送金等調書 regulations. Wise requires マイナンバー for identity verification. Revolut currently accepts residence card verification but may require マイナンバー for larger transfers. If you do not have a マイナンバー yet, apply at your local ward office -- you will need one eventually for most financial services in Japan.
Is it cheaper to withdraw USD from ATMs abroad instead?
Usually not for large amounts. ATM withdrawals abroad using a Japanese debit card incur withdrawal fees (¥200-500 per transaction), exchange rate markups, and often a daily limit of ¥50,000-100,000. For small amounts while traveling, ATMs are fine. For regular remittances of ¥100,000+, Wise is significantly cheaper.
Can I use crypto to send money abroad?
Technically yes -- you could buy crypto in Japan and sell it abroad. However, this triggers taxable events in Japan (selling or converting crypto is taxed as 雑所得 at up to 55%), may trigger tax events in your home country, and the volatility risk during transfer can result in losses. For most people, Wise is cheaper, faster, and simpler than using crypto for remittances.
What is the best day/time to send money for the best rate?
Exchange rates fluctuate constantly, so there is no universally "best" time. However: avoid weekends on Revolut (1% surcharge). Avoid bank holidays in either country (delays transfers). If you are sending large amounts regularly, consider setting up rate alerts on Wise -- it will notify you when the rate reaches your target.
I need to send ¥10M+ to buy property abroad. What is the best method?
For very large transfers, contact your bank's international services desk to negotiate a preferential exchange rate. Sony Bank and SMBC Prestia are particularly good for this. You can also split the transfer across Wise (multiple ¥1M transfers), though this takes more time. For property purchases, banks may also require proof of the purchase contract to process the transfer.
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Sources
- 外国為替及び外国貿易法 (Foreign Exchange and Foreign Trade Act)
- 国税庁 国外送金等調書 (Report on Overseas Remittances)
- 財務省 外国為替検査ガイドライン
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