So, you have just arrived in Japan. What if you have to transfer money to someone’s bank account before you open your own bank account? It can be rent, online shopping payments or even a payment to your friend. You might have to make a payment before you get a bank book and an ATM card. Don’t warry, you can remit cash to other’s bank account even though you have no bank accounts for yourself. But note that procedures slightly differs depending on a payment amount or payment destinations. Let’s have a look in details.
Use ATM for payments up to JPY100,000
To transfer money into bank accounts of all major commercial banks or other local banks except for Japan Post Bank, you may simply use an ATM instead of visiting a bank teller if the payment amount is JPY100,000 or less. Note that cash remittances can be made only with ATMs in bank branch offices. Most of ATMs in convenience stores and shopping centers would not process cash remittances. (Part of Family Mart stores had ATMs with cash remittance services until March 2015 but this service has been terminated. Also, part of Seven Bank ATMs in AEON shopping center process cash remittances) In addition, most of ATMs process cash remittance during a limited time of a day, while cash withdrawals can be done from early-morning until late-evening. For example, ATMs at Bank of Tokyo-Mitsubishi UFJ, one of the major banks in Japan, process cash remittances during opening hours of the tellers, 8:45 – 18:00 Monday to Friday. An ATM card is required to make cash remittance out of these hours. Precisely, only a limited number of local banks offers a cash remittance service during weekends, public holidays or night time. But generally, cash remittances are accepted at ATMs in bank branch offices during normal business hours.
How to remit cash with ATM
Visit any bank’s branch office and go to ATMs next to the teller counter. Wait your turn in a queue if it is busy. Touch the ATM screen to start a transaction. Follow the instructions on the screen to enter payee’s bank, branch name, account number, type of account (savings/current) and check the payee’s name once it comes out on the screen. Keep a transaction receipt issued at the end in case of error. If you have any queries, ask a branch staff around ATM area for assistance during the bank’s trading hour, or ask over the intercom attached to the ATM in after hours or when you find no one around you. Most of ATMs have English translations. If you are not confident in Japanese, press “English” or “Guidance in English” at the first screen to continue the transaction. Again, ask a branch staff for assistance if you have any questions as there might be differences in English and Japanese services.
Visit a teller for payment up to JPY100,000
You need to visit a teller to send more than JPY100,000 all at once. No need to open an account for yourself. However, unlike ATMs, you need to present your ID such as passport, alien registration card, residence card, special permanent resident certificate, driving license or health insurance card. Also you will need to answer some security questioner regarding the purpose of funds transfer or your occupation to confirm your identity. This system was introduced in April 2013 to detect suspicious financial transactions. Of course you may visit a teller to transfer money of JPY100,00 or less and no ID check or security questioner are needed in such case. However, fees of teller transactions are higher than ATM charges and tellers open for only a limited time of a day. For Example, the tellers of Bank of Tokyo-Mitsubishi UFJ opens 9:00～15:00 of ordinary business day. Furthermore, the same day transaction must be made by 14:00.
Procedures at teller
When you call in a bank branch office, you need to take a ticket most of the time. A branch staff will comes to you to assist you, then ask the staff if you have any questions. Tell the branch staff that you would like to transfer money, and take a numbered ticket. Transfer forms and other documents are placed on the table between the teller counter and the waiting area. Write the payee’s name, bank, branch name, account number, account type, and also your name, address and contact number. Wait until a teller staff call out your number, and follow their instructions. Submit the transfer form, cash and transaction fee (approx., JPY1,000), then the staff will process your order and give you the change. The staff will let you know if they find minor errors on the transfer form, however they can’t notice errors in personal information such as account number, therefore make sure you have correct details of the payee.
If the payee’s account is Japan Post Bank
Procedures to transfer money to Japan Post Bank accounts are slightly different from other bank’s accounts. First of all, there are two types of Japan Post Bank accounts: the integrated account which account numbers start with 1 (generally for individual customers), and the giro account which account numbers start with 0 (generally for businesses). To transfer money to an integrated account, non-Japan Post Bank customers cannot remit cash from Japan Post Bank ATMs, therefore they are required to visit a teller. There is no restriction to send money to a giro accounts. Secondly, if you use other bank’s ATM to transfer money to an integrated/giro account, one thing you need to be careful is that Japan Post Bank uses totally different numbering system “code number + account number” than other banks’ numbering “branch number + account number”. You will need to convert “code number + account number” into “branch number + account number” on the JP Bank website to transfer money from other bank’s ATM, unless the payee notifies you with those numbers beforehand. Also, a money transfer over JPY100,000 is not processed by JP Bank ATMs either, visit a teller if you need to send more than JPY100,000.
About transaction fees
Each remittance is subject to transaction fees and charges vary depending on each bank. Generally, the teller transaction charges are set higher than the ATM charges, and transaction fees for funds transfers to other banks (e.g. Bank of Tokyo-Mitsubishi UFJ to Mizuho Bank) are set higher than transfers within the same banking group. Choose the same bank as payee’s to save a transaction fee when you remit cash if possible. As previously mentioned, ATMs can process a cash remittance up to JPY100,000. You can send money over JPY100,000 by making multiple transfers with each payment of JPY100,000 or smaller, though, fees are charges on each transaction. Carefully divide the amount as transferring JPY20,000 and JPY100,000 is slightly cheaper than transferring two of JPY60,000. JPY30,000 is the first threshold to increase a transaction fee. For example, Bank of Tokyo-Mitsubishi UFJ charges transaction fees to transfer funds to other banks as follows. ATM transaction fees: JPY648 for transfers of less than JPY30,000, JPY864 for transfer of JPY30,000 or over. Teller transaction fees: JPY648 for transfers of less than JPY30,000, JPY864 for transfer of JPY30,000 or over.
Summary
You might be hesitant to bring yourself to a bank, but no need to shy away. You are their customer after all and bank staff are there to help you, so feel free to ask a bank staff questions. You will have to spend lots of time and efforts to get a refund if you enter the payees details wrong and the funds gets transferred to a wrong account. Or, you may lose the money in the worst scenario. So, double check if you have entered or written all the information correct.
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