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Peculiarities of bank transfers in Japanese yen (JPY)

Each country has its banking features. This article will focus on bank transfers in Japan, where the national currency — yen — is used. Let's consider the basic rules, commissions and potential complications.

General characteristics of Japanese banking practice

Bank transfers in Japan are used widely and for various purposes — between corporations and individuals. Transfers can be initiated through most ATMs in the country or through online banking.

Physical cheques are rarely used between ordinary people, but corporate cheques and bills of exchange are very common in business.

As a preferred payment method for utility and telephone bills, mortgage payments and many other payments, 'direct debit' (an organization debits funds from customers' accounts when a payment order is in place) is widely used.

Popular payment methods among companies and ordinary citizens:

  • B2B — bank transfers in JPY, cheques, promissory notes, direct debit.
  • B2C, C2C — cash, bank transfers in JPY, debit and credit cards.

ATMs in Japan serve far more than just cash withdrawals. They are widely used for domestic bank transfers and receiving time deposits while being just as popular as online banking.

Speed of transfers and fees

Electronic bank transfers, called furikomi in Japan, are one of the key services Japanese banks offer. It is a common way for individuals and businesses to transfer money to each other and pay bills. Transfers can be made through a branch, ATM or the Internet and are processed the same day if done during business hours.

The sender usually pays a fee ranging from ¥100 to ¥600.

It is possible to transfer money from an account outside Japan to a Japanese account via an international transfer; however, this can be somewhat complicated if conducted directly. The e-currency exchangers on our website can help. It is possible to sort the offers by the most favourable exchange rate.

Exchange Wire transfer to e-currencies

On our site you can see the current exchange rates of Bank transfer JPY to other electronic payment systems.

Exchange Bank transfer JPY to another currency:

Exchange e-currency to Bank transfer JPY:

© – , updated 09/04/2023
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