Best Money Transfer Services from Japan (2025): Wise vs. Banks Fee Comparison

You work hard for your money in Japan. But when it comes time to send that money back home to family or to your own overseas account, have you ever been shocked that the amount received was much less than you expected?

The bank receipt might say "Fee: 2,000 JPY," but somehow, over 5,000 JPY is missing from the final amount. The reality is that many Japanese banks have "Hidden Costs" that they don't advertise. If you continue sending money without knowing this, you are essentially throwing away the cost of several nice lunches every time you hit "send."

In this guide, we thoroughly compare the major overseas remittance services available to foreigners in Japan (Wise, SBI Remit, Seven Bank, etc.). We will prove with actual simulation numbers: "Who is the cheapest, fastest, and most reliable?"

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The Verdict: Numbers Don't Lie (100,000 JPY Transfer Simulation)

Let's look at the evidence. If you send 100,000 JPY from Japan to the US (USD), how much actually arrives in the recipient's account? Here is the simulation based on 2025 data.

(Reference Rate: 1 USD = 150 JPY)

Service	Transfer Fee	Exchange Cost (Hidden)	Final Amount Received	Difference vs Bank
Wise	859 JPY	0 JPY	$660.94	(Benchmark)
SBI Remit	1,980 JPY	Approx. 1,000 JPY	$647.00	-$13.94
Seven Bank	1,950 JPY	Approx. 1,500 JPY	$644.01	-$16.93
Sony Bank	3,000 JPY	Approx. 100 JPY	$626.04	-$34.90
Traditional Banks<br>(MUFG, etc.)	5,500 JPY+	Approx. 170 JPY	$608.96	-$51.98

The Shocking Truth: Comparing Wise to a traditional city bank, there is a difference of about $52 (approx. 7,800 JPY) in just a single transfer.

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Why Are Banks So Expensive? The "Two Traps" You Must Know

Don't be fooled by words like "Low Fees" or "0 Yen Commission." There is a clear mechanism behind why bank transfers are so expensive.

Trap 1: The Exchange Rate "Markup" (Hidden Fees)

The exchange rate you see on Google (the Mid-Market Rate) is different from the rate banks offer you. Banks secretly add a markup of 1 to 2 yen to the real rate. This is called the "Spread."

• Wise: Sends money using the "Real Rate" (same as Google).
• Banks: Calculate using their "Own Rate," so the more you send, the more you lose.

Trap 2: The Bucket Brigade (SWIFT)

Traditional bank transfers go through a network of banks around the world, like a bucket brigade (SWIFT transfer). Each bank in the chain takes a cut called an "Intermediary Bank Fee," and by the time the money arrives, the amount has shrunk significantly.

User Review★☆☆☆☆1/5

"I used a major bank because they said the fee was only 2,000 yen. But then an intermediary bank took another 2,500 yen, and the exchange rate was terrible. I lost over 5,000 yen in total. Never again."

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Service Review: Which One Fits You?

Here is a breakdown of the pros and cons for each major service.

1. Wise (formerly TransferWise) - 【#1 Overall Recommendation】

With a mission to "make hidden costs zero," Wise is the most transparent service globally. If you are sending money to a bank account, this is the best choice.

• ✅ Real Rate: No markup on the exchange rate.
• ✅ Transparent: You see exactly how much the fee is and how much will arrive before you send.
• ✅ Speed: About 45% of transfers arrive in under 20 seconds.
• ❌ Note: Cannot send cash for pickup (Recipient must have a bank account).

User Review★★★★★5/5

I set up Wise as soon as I arrived in Japan. I use it to send part of my salary home. The app is super easy to use, and the money usually arrives the same day.

💡 Pro Tip: To create a Wise account in Japan, you need a Japanese phone number for SMS verification. If you don't have one yet, get a SIM card first. 👉 Japan SIM Card Comparison Guide

2. SBI Remit - 【Best for Cash Pickup】

Extremely popular among residents from Southeast Asia (Philippines, Vietnam, Nepal, etc.). They partner with MoneyGram, making it perfect for sending money to family members who don't have a bank account.

• ✅ Cash Pickup: Recipient doesn't need a bank account. They can pick up cash at an agent location.
• ✅ Fast: For cash pickup, money is available in as little as 10 minutes.
• ✅ Multilingual: Website and support are available in many languages.
• ❌ Note: The exchange rate includes a markup of about 1%.

3. Seven Bank - 【Convenience Store King】

For those who are too busy to go to a bank during the day. You can send money 24/7 from any Seven-Eleven ATM in Japan. They partner with Western Union.

• ✅ Convenience: Send money while buying your bento. Just a few buttons on the ATM.
• ✅ Weekends OK: Available even when bank counters are closed.
• ❌ Note: You need to open a Seven Bank account and register for the overseas transfer service in advance.

💡 Funding: To put money into the ATM, you need to move funds from your salary account. Online banks often offer free transfers. 👉 Guide to Japanese Bank Accounts for Foreigners

4. Sony Bank - 【Best for Bank Lovers】

If you prefer using a bank or need to send very large amounts (millions of yen), choose Sony Bank over traditional city banks.

• ✅ Cheapest among Banks: Fees and exchange costs are much lower than MUFG or SMBC.
• ✅ Free Incoming Fees: No fees when receiving money from overseas (Inbound).
• ✅ English Support: Their online banking interface is available in English.

⚠️ About Shinsei Bank (GoRemit)

The once-popular "GoRemit" service ended on October 20, 2025. Migration to SBI Remit is now recommended. Please be careful not to apply based on outdated information.

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The "My Number" Wall: What You Need

Regardless of which service you use, Japanese law requires the submission of the following documents for overseas transfers:

1. Residence Card (Zairyu Card)
2. My Number (Individual Number)

Even if you don't have the plastic "My Number Card," you can often register using the "Notification Card" or a "Juminhyo (Residence Certificate) with My Number listed." However, for online services like Wise (eKYC), having the plastic My Number Card makes the verification process instant.

Related Guide: Confused about the difference between the Residence Card and My Number? Check this guide. 👉 Difference between My Number Card and Residence Card

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Summary: Choose Wisely, Send More

Here is the final recommendation based on your needs:

• To send living expenses or savings cheaply ➔ Wise is the only choice. Avoid bank traps and deliver the most cash.
• To send cash to family immediately ➔ SBI Remit or Seven Bank. It costs a bit more, but the speed and cash pickup convenience are worth it.
• For high-value transfers (Over 1M JPY) ➔ Wise or Sony Bank.

Use the thousands of yen you save on fees to improve your life in Japan. For example, paying your daily expenses with a high-point credit card makes life even more economical.