Money and Banking

Japan is a highly advanced but still primarily cash-based economy, so it is a good idea to bring enough cash for initial expenses when you relocate here. However, you’ll need more efficient and secure methods if you want to transfer large sums into the country. Here’s a rundown of your options. Bank Transfer One method is to open a Japanese bank account shortly after arriving and send an international transfer to yourself. For large amounts of money, this is one of the safest ways to move funds to Japan. If you intend to utilize this option, be sure to check in advance whether or not your foreign bank account can send funds to a Japanese bank account, as some cannot. Bank transfers can sometimes take a few days and you will have to pay bank transfer fees as well as exchange rate markups. Online Transfer Services  Providers such as Wise and Moneygram offer specialist money transfer services. They are typically cheaper and quicker than bank transfers, as well as more flexible as you can often send money without a Japanese bank account. However, transfer limits can sometimes be lower. International Remittance  Remittance services use third party providers such as banks and…