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 financial services to receive and send money internationally. Examples of companies that operate in Japan include Xe and OFX. The main advantage of these providers is that they specialize in international money transfers, although they can take longer to set up and you may only benefit from the best rates if you send large sums.

Multi-currency Accounts 

Opening an account with providers such as Wise or Revolut means that you don’t have to have a local Japanese bank account to receive local funds. Multi-currency accounts let you manage a range of currencies in one place, and you can convert funds as necessary, usually at low and transparent exchange rates. Some accounts also offer debit cards for local spending.

To decide which is best for you, check your available options, weighing up fees, exchange rates, and timings. The best approach will depend on your own personal situation, as well as factors such as how quickly you need to access the money and how much you are transferring into Japan.

MIKI Yoshihito from Sapporo City,Hokkaido., JAPAN, CC BY 2.0, via Wikimedia Commons