sakebomb 0 Posted February 15, 2006 Share Posted February 15, 2006 Anyway, tonight I get a phone call from my bank asking me to explain what the monthly tranfers from Australia to here are for......business or living expenses. The bank said the Ministry of Finance likes to keep a check on such transfers..I guess for tax purposes. My question is has this happened to anyone else? Link to post Share on other sites
TheOrange 0 Posted February 15, 2006 Share Posted February 15, 2006 Sounds strange. Tell them わからない Link to post Share on other sites
gamera 0 Posted February 15, 2006 Share Posted February 15, 2006 Huh? If they have your account、they can know how much the transfer every month? I don't think that is really professional way for a bank to ask such a detail to the account holder. No worries, an oyaji innkeeper can never get any attention from his banks Link to post Share on other sites
damian 0 Posted February 15, 2006 Share Posted February 15, 2006 I was the other way around, however a similar question was asked. When I transferred cash from Japan to Oz I always had to state a reason for the transfer. I elected to put 'holiday'. I never transferred cash into Japan, so can't comment exactly on your situation. If I were you I would advise the purpose as 'for consumption of local goods and services'. Link to post Share on other sites
sakebomb 0 Posted February 15, 2006 Author Share Posted February 15, 2006 Quote: If I were you I would advise the purpose as 'for consumption of local goods and services'. Cheers _spud, basically that's what I said, living expenses...as it is spent on local goods and services unfortunately not on myself Also it is far from bundles of yen!!! Link to post Share on other sites
misorano 1 Posted February 16, 2006 Share Posted February 16, 2006 We get it quite a lot as we have a lot of money coming in from overseas for group tours. I thought it was only for tranactions of several million yen or more? After about 10 calls they finally worked it out and stopped calling us. Originally the said they had to report the transactions as a measure to prevent money laundering. Link to post Share on other sites
flipside 0 Posted February 16, 2006 Share Posted February 16, 2006 Never been approached like that. Slightly off the point but a friend told me he buys travellers cheques and sends them back for someone to deposit in the bank for them and saves fees. Anyone done this? If so, was it worth it? Right now I think I pay about 2000 yen for the right to send my money. A penny for your thoughts Link to post Share on other sites
kintaro 0 Posted February 16, 2006 Share Posted February 16, 2006 On internet transfers you have to state your reason for transfering (I use Citibank). I think it's for tax purposes. TC,s are usually 1% of your money plus mailing charges. It might not be worth it. Link to post Share on other sites
Markie 0 Posted February 16, 2006 Share Posted February 16, 2006 I do TTs all the time, but HK being the money laundering capital of the world, no questions are ever asked. Also they never charge me anything (I also use Citibank). BTW, Fatts, did you get the Yen TT? Did you bank deduct any collection charges? If they did, I spot you back for it next time I'm around. Link to post Share on other sites
uggggllllyyyy 0 Posted February 16, 2006 Share Posted February 16, 2006 I use the post office cos they are cheap. 1400yen for whatever you wanna transfer. Also on the reasons bit I always put "Cost of living for family" becos i saw it on their online form example. No problems then. Link to post Share on other sites
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