Money Transfers!!

[sakebomb 0]

OK, another question.

What service is best for transfering money from Australia (in this case)?

I am tired of getting shafted with fees and am looking around for something that isn't going to leave me walking funny!!

Recommendations, what do other people do?

Cheers

[sava 0]

Normally I use western union...

[gamera 0]

Sakebomb, maybe PayPal works?

 

http://www.paypal.com/

 

Seems convenient if it's in U.S. or Canada.

If it's Japan, some tiny commission needed.

I think PayPal is not a bank, so probably

there's some different terms and use policy

there. Check it when you use their service!

[sakebomb 0]

Sava, there isn't any agents around here that I can find!! Damn.

Gamera, I thought about paypal but they are a bit iffy!

Thanks Guys!!

[soubriquet 0]

When I moved here, I got my bank (ANZ) to issue a cheque in Yen drawn against their Tokyo arm. The morons at my local bank spent ages in collective panic mode before accepting that this was a domestic transaction, and did not attract *special fees*.

[sava 0]

Sakebomb: here the agent I use is just the post office?

[sakebomb 0]

Cheers sava,　I will check with the local post office with the anticipation of the "what the f*#k are you talking about" look on the postoffice staffs face.

[gamera 0]

Try below, sakebomb

 

http://www.yu-cho.japanpost.jp/e_index.htm

 

Cheers.

[me jane 0]

I use Lloyds to the UK. Costs 2000 yen but same day transfers and the rates aren't bad. Once you've set it up you can do it directly from the cashpoint. Not sure how it works with Oz though.

[sava 0]

2000 yen is about the same as what western union would charge

[indosnm 0]

I use Lloyds too. Very convenient as I can just do it all online. And money is always in OZ the next day.

As me jane said, rates are pretty good. If you need to send money to pay something off back in Oz it's better to send a few months at a time, cutting down on cost of transferring each month. I send to Westpac in Oz and they hit me for $8 each time. Other banks may be more or less?

 

A hint to get the best rate is to send ya cash in yen to OZ then exchange it there. You can do this when you send more than a million yen.

[sakebomb 0]

Thanks for all the info looks quite useful.

Everyone talks about sending money but I wish to recieve , is there any good tips and is it possible to use the potal account?

Lloyds sound OK! I will check them out!

[sakebomb 0]

Contacted Lloyds and they only send money out of Japan and don't transfer into Japan.

[sunrise 0]

It's been awhile since I used this but as far as I know you can still receive funds on a Japanese citibank account with no fees taken off. If you don't want to leave the minimum monthly (for no accounting fee) you can keep the account empty and then empty it as soon as the funds come in.

 

I also heard that NAB has low fees (when receiving money). Not sure about their sending fees.

[indosnm 0]

oops, I miss read ya post.

If I have to transfer cash the best way is to put it into your credit card account and do a cash advance at a post office. That way you get the best rate. Just have to see what your credit card co will charge ya for the transaction. ( I wouldn't do this unless you card was in CREDIT)

You can send from westpac online banking but BEWARE of sending to Japanese banks as their acceptance fee's are hefty. The UFJ took 8,000 of me for accepting 650,000!

If you send to citi bank they used to be free to accept the cash. ( this was a few years ago, mind you)

[gamera 0]

 Quote:

Originally posted by Indosnm:
put it into your credit card account and do a cash advance at a post office.

This is what i have been curious if i could do this or not.
I think this really depends on if your credit card company provide this kind of service or not. right? And I have never heard any credit companies in Japan would offer that.

The "put it into your credit card accout" part.
This sounds as if a credir card works like a cash card to draw/put some cash from/into your bank account, right?

Japan is still kinda "mystery" zone for credit card usage

[indosnm 0]

 Quote:

Originally posted by gamera:
This is what i have been curious if i could do this or not.
I think this really depends on if your credit card company provide this kind of service or not. right? And I have never heard any credit companies in Japan would offer that.

The "put it into your credit card accout" part.
This sounds as if a credir card works like a cash card to draw/put some cash from/into your bank account, right?

Japan is still kinda "mystery" zone for credit card usage

Gamera, it's simply a cash advance.
It works like a debit card.
I have japanese credit cards and you can do this with them.

[gamera 0]

Indosnm, so does the credit card have to be a combined one of yucho(cash card for post office account)+visa, yucho+master, yucho+JCB or yucho+amex if it works only at the post offices?

[indosnm 0]

Gamera,

My card is just a regular master card, no links to the post office.

I am pretty sure you can do it on most machines. I just use the post office as that was the closest place for me.

I have used it overseas too, for the same thing..

Next time you are at the ATM just stick ya Credit card in and see if it will let you take out some cash!

[slow 0]

gamera san, check the backside of your credit card. If your card has these logos, you can withdraw money from your Japanese bank account all over the world. I don't know the rate is good or not but it's pretty convenient. In japan, you can usually use post office ATM, some bank ATMs accept this card.

[indosnm 0]

Slow, but we are talking about drawing money out of credit cards... I think they call it CASHING here???

[gamera 0]

Yeah.... Indosnm, slow. I think what you talk about is "cashing" with which you have to pay some interests back together with the corpus. Usually the interests are more than 10% a year.

 

What I look for is just "transfer" ( as if we draw some money from our accounts to send it to some other accounts )by our credit cards.

 

With that way, we can send / receive some money

real easier?

 

Actually I visited the nearest post office and asked the staff there about it but they didn't know it. Also, played with the ATM machine if my credit cards with the logos slow had showed could do that or not.

As they are my credit cards (not yucho cash cards)with the logos of plus or cirrus, I had to choose "others" at first then i saw "cashing", "money transfer to some post office accounts" etc. No "transfer to some bank accounts" available there. So probably I can't find what I look for there

[indosnm 0]

Yeah you have to watch out for that cashing rates... I think 20% + would be more like it.. Very dangerous!

[gamera 0]

Yep! Very dangerous!

[bobby12 0]

I resurrect this thread because I notice the yen has been gaining a lot this week and is now 223 vs the GBP.

 

I always used to use Golloyds but I notice they are giving a rate of 226 today and I want to check what rate the post office would give. Since the changeover the link to their exchange rate page is dead (http://www.yu-cho.japanpost.jp/e_index.htm).

 

Does anyone know the URL for todays exchange rates offered by the post office?