RetireJapan

@Telebroker and to anyone else who this may interest, regarding which method to use if you are stuck with USD in SMBC: 1. Using currency exchange in SMBC, seem to incur about 0.4x% fee. 2. Using Wise without conversion (Straight USD -> USD, to IBKR), has a fixed fee of about 4 USD AND a variable fe...

@Telebroker and to anyone else who this may interest, regarding which method to use if you are stuck with USD in SMBC: 1. Using currency exchange in SMBC, seem to incur about 0.4x% fee. 2. Using Wise without conversion (Straight USD -> USD, to IBKR), has a fixed fee of about 4 USD AND a variable fe...

@Telebroker and to anyone else who this may interest, regarding which method to use if you are stuck with USD in SMBC: 1. Using currency exchange in SMBC, seem to incur about 0.4x% fee. 2. Using Wise without conversion (Straight USD -> USD, to IBKR), has a fixed fee of about 4 USD AND a variable fee...

@Telebroker It looks like indeed the reason why it cost you 800 JPY and not 6,000 JPY as would be expected from an international transfer, is because it was a non-resident Japanese account. The table linked in this post shows: The PDF in my original post had it on the third page under 非居住者: https://...

In your case it was a Japanese account which allowed for a domestic transfer, whereas in my case it was an American account which required an international transfer. I am not sure I fully concur with your conclusions. Please note that the above assumption is false. While I do transfer JPY->JPY it i...

Hi Kanpanela, I use IBKR LLC and frequently transfer JPY->JPY from SMBC [Olive] to IBKR's Citibank Account in Japan with 10 digit account number (=non-resident account) for a fee of JPY 800. There is a whole thread on transferring to IBKR: https://www.retirejapan.com/forum/viewtopic.php?t=688&s...

Wise. Thank you for the suggestion! I heard that word a couple of times before but was not sure how much will it cost after all the hassle is done. 1. Did you try doing a similar transfer? Or have you heard of someone doing such a transfer? How much did it cost? 2. Is opening an account and doing a...

One solution, if you switch over to IBKR Japan then you can make a domestic transfer from your bank which is generally free. Thank you for the suggestion! I read around that people got moved automatically to IBKR Japan. 1. Since the transfer was not free for me does it mean I was not transferred? 2...

After having to pay too much for a single overseas fund transfer using SMBC, I would like to ask what is the cheapest Bank and/or cheapest method to transfer funds to Interactive Brokers (IBKR)? Below is an explanation of why with SMBC it cost 6,000 yen, and why in no way can it be below 3,500 yen f...

How can I recognzie what IB I am a member of? The website just says Interactive Brokers... Does IBSJ handle taxes for you in Japan? If so I may wish to move (assuming I don't have stocks they don't offer) Do you get a monthly activity statement? I do, and at the top it says "Interactive Broker...