Sending Money Home from Japan

 

When you leave Japan, you’ll probably want to convert your yen into your home country’s currency.  More often than not, you’ll get a better rate if you exchange the money in Japan rather than when you get back.  One of the easiest and most economical ways of doing this is through the Post Office remittance service.  This can be done at any of your local post offices.  Simply put, a remittance is a check made out to a designated party in a currency other than yen.  The designated party can be a family member, bank, organization, etc. (It cannot be in your name)  The post office will send your money through into the designated party’s account.

(Lloyds Bank also has an overseas remittance service that seems to be fairly cheap. Details here: Go LLoyds

\ 2,000 per transfer to an account of your choice, and, unbelievably enough, it goes through overnight. Requires a bit of set up time.)

What To Do (Post Office Remittance Service):

1) Go to the window of the post office and ask for a “kokusai sokin seikyuusho ken koku chisho” form (International Remittance Application & Declaration Form)

2) Fill out the information.  You’ll also need to bring your Alien Registration Card and your inkan.

3) You’ll have to write some of the information again on the check itself.

4) Your post office will ask you to pay in cash or you can directly have the money deducted from your account.  Use whatever is most convenient.  Note that you will pay a handling fee.

5) For sending remittances to the US, you can take the check and mail it out on your own.  Remittances to all other destinations will be sent directly to the designated address from the Tokyo Central Post Office by airmail.

Details:

·           Converting: You can convert yen into a number of currencies, but please note that the destination that you’re sending the money to must be made out for the same currency. (e.g., you cannot send a check to Canada made out in US dollars.

·           Exchange Rates: The yen-US dollar exchange rate is updated at 11AM every business day.  Exchange rates between yen and all other currencies are updated at noon every business day.  The post office exchange rates tend to be the best around.

·           Delivery Dates: For most countries, delivery varies between 7 & 14 days.  However, for some reason, delivery to Canada takes an average of 14-20 days!

Japanese Vocabulary

国際送金請求書兼告知書 (kokusai sokin seikyusho kokuchisho) : International Remittance Application and Declaration Form

郵便局  (yuubinkyoku): Post Office

送金 (sokin):Remittance