Cheaper option?

[OkiBum]

Might be a stupid question but I thought I might as well ask.

I need to make an International transfer and I have an option of either paying by a credit card or via bank transfer. Payment will be in USD.

I have heard good things about Transferwise so was wondering if it would be cheaper for me to do a bank transfer or pay by credit card.

I have a Rakuten card but I am unsure of how much would I pay on exchange rates, transfer fees etc.

Thanks in advance!

[RetireJapan]

Depends on the amount, the exchange rate you get from your credit card, any foreign currency fees payable on the card, etc.

I'm lazy so would be inclined to just use a credit card unless it was a huge purchase

Anyone else?

[RetireJapan]

You'll probably have purchase protection with a credit card too.

[ricardo]

Probably better to use your credit card for a small amount. Just make sure you pay in US$. Don’t let the web site convert it to JPY for you. Some websites try to ‘persuade’ you to use your home currency because it’s ‘simpler.’ Don’t fall for it! The visa/MasterCard exchange rate is pretty good.

And getting an account set up with TransferWise would take some time and - according to other posts today - potentially some difficulty in verifying your address. Probably not worth the hassle if all you want to do is just make one payment.

[OkiBum]

It's around 6,000 USD and yes I plan to pay in USD instead of JPY.

So i guess, credit card it is then. Hopefully I get some extra ANA miles for international transactions as well

[adamu]

According to their website, they load the exchange rate depending on the type of card.

Mastercard 1.63%
American Express 2.00%
Visa 1.63%
JCB 1.60%

Still, seems reasonable. Some companies charge 3-4%.

[OkiBum]

Thanks guys!