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List of options transferring money internationally from Japan

1. Revolut Japan

  • Overview: Revolut is a global financial super-app that has recently expanded its services to Japan. It allows for international money transfers at competitive exchange rates.
  • Advantages:
    • Real-time currency exchange with interbank rates.
    • Offers a multi-currency account, allowing you to hold and exchange different currencies.
    • No requirement for a Juminhyo during sign-up; basic identification like a passport is sufficient.
  • Disadvantages:
    • Limited support for some currencies compared to Wise.
    • Premium features are behind a paywall.

2. N26 (in collaboration with TransferWise)

  • Overview: N26 is a European digital bank that recently started operating in Japan. It partners with Wise for international transfers, offering competitive rates.
  • Advantages:
    • Easy sign-up process with just a passport or residence card.
    • Integrated with Wise for seamless international transfers.
    • Offers a modern mobile banking experience.
  • Disadvantages:
    • Limited availability of Japanese language support.
    • Account features might be more tailored to European customers.

3. Kantan Pay

  • Overview: Kantan Pay is a new service in Japan designed for quick and easy international remittances. It is a smartphone-based service, requiring minimal documentation.
  • Advantages:
    • Very easy to set up with just a mobile phone and basic ID.
    • Low transfer fees compared to traditional banks.
    • Supports multiple payout methods, including cash pick-up.
  • Disadvantages:
    • Limited to certain countries for transfers.
    • Exchange rates may not be as competitive as Wise.

4. WorldRemit

  • Overview: WorldRemit is another modern remittance service that allows for international money transfers without needing a Juminhyo.
  • Advantages:
    • Supports transfers to over 150 countries.
    • Multiple payment methods, including cash pick-up, bank deposits, and mobile wallets.
    • Quick registration process with basic ID.
  • Disadvantages:
    • Fees can vary depending on the destination and transfer method.
    • Exchange rates might not always be the best compared to Wise.

5. KoraPay

  • Overview: KoraPay is a new player focusing on the African market, offering simple and efficient money transfers from Japan to various African countries.
  • Advantages:
    • Tailored for remittances to Africa with low fees.
    • Easy sign-up process with just basic identification.
    • Fast transfers with competitive exchange rates.
  • Disadvantages:
    • Limited to certain African countries.
    • Less established than other services, so might have fewer features.

6. TransferGo

  • Overview: TransferGo is a digital remittance service gaining popularity for its fast and low-cost international money transfers, without the need for extensive documentation like a Juminhyo.
  • Advantages:
    • Low fees and competitive exchange rates.
    • Easy registration process requiring basic ID.
    • Quick transfer times, often within the same day.
  • Disadvantages:
    • Limited to certain regions and countries.
    • Not as widely recognized as Wise, so customer support might be more limited.

7. PaySend

  • Overview: PaySend is a relatively new money transfer service that focuses on simplicity and low-cost international transfers.
  • Advantages:
    • Flat, low fees for transfers.
    • Can send money directly to cards, making it convenient for recipients.
    • Quick sign-up with basic ID.
  • Disadvantages:
    • Limited to certain countries.
    • Exchange rates may vary, so it’s good to compare with other services.

8. PayPal

  • Overview: PayPal is a widely recognized platform for international money transfers. It doesn’t require a Juminhyo for account creation or transactions.
  • Advantages:
    • Easy to set up with just an email address.
    • Widely accepted for both personal and business transactions.
  • Disadvantages:
    • Exchange rates can be less favorable compared to Wise.
    • Fees for receiving money internationally can be higher.

9. Skrill

  • Overview: Skrill is another digital wallet service that allows international money transfers without needing a Juminhyo.
  • Advantages:
    • Competitive fees and exchange rates.
    • Supports a wide range of currencies.
  • Disadvantages:
    • Fewer options for cash withdrawal compared to some other services.
    • Some fees may apply depending on the type of transaction.

10. Western Union

  • Overview: Western Union offers both online transfers and physical locations for sending money abroad, without the need for a Juminhyo.
  • Advantages:
    • Available globally with a vast network of agents.
    • No need for a bank account in some cases; cash pick-up is possible.
  • Disadvantages:
    • Higher fees compared to online services like Wise.
    • Exchange rates can vary significantly.

11. PayPay Bank (formerly Japan Net Bank)

  • Overview: PayPay Bank offers international transfers, and since it’s a Japanese bank, it’s easier to manage for residents. Setting up an account typically doesn’t require a Juminhyo.
  • Advantages:
    • Local Japanese support.
    • Integrated with PayPay, a popular payment app in Japan.
  • Disadvantages:
    • Limited to those who can provide some form of identity verification (passport, residence card, etc.).
    • Fees and exchange rates may not be as competitive as Wise.

12. Remitly

  • Overview: Remitly is a money transfer service that offers various payout options, including bank deposits, cash pickup, and mobile money.
  • Advantages:
    • Simple sign-up process with just basic identification.
    • Multiple delivery options for recipients.
  • Disadvantages:
    • Fees can vary depending on the destination and payment method.
    • Limited availability in some countries.