RetireJapan

Posted: **Tue Nov 10, 2020 6:34 am**

Via Reddit:https://old.reddit.com/r/japanlife/comm ... mber_2020/

I just got back from the local SMBC and saw a notification that they're ending cheap transfers to domestic non-resident accounts (国内非居住者円建送金). For those who aren't aware, this is currently a cheap way to send money from Japan to Interactive Brokers so that Americans can invest it; on February 1st it's going from 800 yen to 7,500. They claim it's to promote a more convenient and cashless society.

https://www.smbc.co.jp/news/j602163_06.html

This may affect some of the Americans here. Condolences.

Posted: **Tue Nov 10, 2020 3:33 pm**

It says though if you use SMBC direct which I think is their internet platform, the fees don't change?

Posted: **Thu Nov 12, 2020 11:32 am**

Is SMBC the cheapest way to send money overseas? I've been using Transferwise, but JPY 800 sounds favorable, depending on the transfer rate...

RetireJapan

SMBC to end cheap transfers to domestic non-resident accounts (国内非居住者円建送金)

SMBC to end cheap transfers to domestic non-resident accounts (国内非居住者円建送金)

Re: SMBC to end cheap transfers to domestic non-resident accounts (国内非居住者円建送金)

Re: SMBC to end cheap transfers to domestic non-resident accounts (国内非居住者円建送金)