RetireJapan

Hello. I have undertaken online work for a Singapore institute and they wish to transfer payment to Japan. My question:

1. Can payment in Singapore dollars be deposited to my JP Post Office account? According JP Post website it appears only US and EU deposits are allowed.

Many thanks.
Michael

No, you would need a Gaika account, such as

SMBC Trust Bank Prestia Multi Money Account

Sony Bank

SBI Bank

etc.

Yuucho Ginko accepts Bank Transfers from overseas, but only accepts Foreign Currency Deposits in USD and EUR, and of course JPY.
https://www.jp-bank.japanpost.jp/en/djp ... index.html

It seems that Shinsei Bank only accepts Foreign Currency Deposits in USD, EUR, AUD and NZD.
https://www.sbishinseibank.co.jp/english/gaika/cam/

SMBC Trust Bank Prestia (formerly Citibank Japan) accepts Foreign Currency Deposits in 17 currencies including GBP
https://www.smbctb.co.jp/en/product/for ... vings.html
Applicable currencies
USD, AUD, NZD, GBP, CAD, CHF, EUR, SGD, HKD, CNY*, THB, ZAR, TRY, MXN, NOK, SEK, DKK

Sony Bank
https://moneykit.net/en/guide/fc/
Applicable currencies
USD, EUR, GBP, AUD, NZD, CAD, CHF, HKD, BRL, CNY*, ZAR, SEK

You can check with other Japanese Banks' Gaika Accounts...

or

a WISE Account

But if the WISE account is registered to an account owner registered in Japan, you can only keep a maximum of the equivalent of Y1M in the account. Anything over Y1M needs to be removed to another account within 30 days. Limit does not apply to WISE accounts registered to owners of other countries.

https://wise.com/help/articles/3GBSRou4 ... e-in-japan

https://wise.com/help/articles/2899986/ ... ing-limits

The sender should ask for the money to be sent in Japanese yen on the SWIFT transfer. That way the forex conversion is handled on their side.

Thank you for the advice.
I tried setting up a WISE account but Wise do not accept Japanese credit cards to pay for a wise debit card or to top up your account when registering.
My next attempt is at revolut

After a delay I am now receiving payments from Singapore to my SHINSEI BANK account. Many thanks for the advice here on this Forum.

I then tried to transfer some funds from my SHINSEI BANK account to my WISE account. However, during the online process the WISE bank is not an option even though I searched using katakana and hiragana; I simply get an error code.

My question: has anyone here successfully transferred funds from a SHINSEI BANK account to a WISE account?

MacAddict wrote: ↑Thu Apr 25, 2024 1:17 am After a delay I am now receiving payments from Singapore to my SHINSEI BANK account. Many thanks for the advice here on this Forum.

I then tried to transfer some funds from my SHINSEI BANK account to my WISE account. However, during the online process the WISE bank is not an option even though I searched using katakana and hiragana; I simply get an error code.

My question: has anyone here successfully transferred funds from a SHINSEI BANK account to a WISE account?

You need to log into your Wise account to get the payment details. Then send the money from Shinsei using those details.

MacAddict wrote: ↑Thu Apr 25, 2024 1:17 am After a delay I am now receiving payments from Singapore to my SHINSEI BANK account. Many thanks for the advice here on this Forum.

I then tried to transfer some funds from my SHINSEI BANK account to my WISE account. However, during the online process the WISE bank is not an option even though I searched using katakana and hiragana; I simply get an error code.

My question: has anyone here successfully transferred funds from a SHINSEI BANK account to a WISE account?

Not sure whether this'll help, but I opened a new Wise account yesterday and 'charged' the account with the initial 3,000 yen that it asked for by a furikomi from my Sony Bank account. The details for Wise's account that it displayed once I was logged in to Wise and was in the 'charge your account now' kind of dialogue was as follows:

Bank: PayPay Bank Corporation
Bank code: 0033
Branch name: Shirakaba (this might differ from person to person)
Branch code: 709
Type of account: Futsuu
Account Number: 764xxx (this I assume differs from person to person)
Note: P6973xxxx (this I have no idea about but assume it also differs from person to person)

The remittance from Sony Bank went without a hitch, the money was transferred within minutes, and there was no remittance charge because my Sony Bank account allows 4 domestic transfers free of charge a month.

So, do log on to the Wise account first to get the Wise account details relevant to you. Good luck!

Thank you all very much.