As a foreign resident living in Japan, sending money back home to loved ones can be a daunting task. With numerous remittance apps available, it's essential to choose the best one that suits your needs. In this review, we'll guide you through the top remittance apps in Japan, highlighting their features, fees, and exchange rates for sending money to Nepal, India, Sri Lanka, Bangladesh, and the Philippines.
A Step-by-Step Guide for First-Time Remitters in Japan
If you're new to sending money from Japan, here's a step-by-step guide to get you started:
- Choose a remittance app: Select a reputable remittance app that supports your destination country. Popular options include Wise, SmileRemit, JpRemit, BrastelRemit, CityRemit, JapanRemit, and KyodaiRemit.
- Create an account: Sign up for an account on your chosen remittance app, providing required documents such as your residence card, passport, and proof of address.
- Add recipient details: Enter your recipient's information, including their name, address, and bank account details (if applicable).
- Select transfer method: Choose your preferred transfer method, such as bank transfer, cash pickup, or mobile money transfer.
Comparing Bank Transfers vs. Cash Pickup from Japan
When sending money from Japan, you have two primary options: bank transfers and cash pickup. Here's a comparison of the two:
- Bank Transfers: Faster and more secure, bank transfers involve sending money directly to your recipient's bank account. However, this method may incur higher fees and require more documentation.
- Cash Pickup: Convenient for recipients without bank accounts, cash pickup allows them to collect the funds from a designated location. This method may have lower fees but can be less secure.
Mobile Money Transfers: Sending to GCash, bKash, and PayMaya from Japan
Mobile money transfers are a popular way to send funds to the Philippines, Bangladesh, and other countries. Here's how to send money to popular mobile wallets:
- GCash (Philippines): Use Wise or SmileRemit to send money directly to GCash wallets.
- bKash (Bangladesh): JpRemit and BrastelRemit support bKash transfers, allowing recipients to receive funds instantly.
- PayMaya (Philippines): CityRemit and JapanRemit offer PayMaya transfers, providing a convenient way to send money to the Philippines.
How to Fill Out a Remittance Form in Japan (Online and In-Person)
When filling out a remittance form, ensure you have the following documents and information:
- Residence card: Required for identity verification.
- Recipient details: Accurate information, including name, address, and bank account details (if applicable).
- Transfer amount: Specify the amount you wish to send.
- Transfer method: Choose your preferred transfer method, such as bank transfer or cash pickup.
Documents Needed for Large Remittance in Japan
For large remittances (typically above ¥100,000), you may need to provide additional documentation, such as:
- Proof of income: Show your income source, such as a salary slip or pension statement.
- Proof of address: Provide a utility bill or rental agreement to verify your address.
Best JPY to PHP Exchange Rate Today
To get the best JPY to PHP exchange rate, compare the rates offered by different remittance apps. Wise and SmileRemit often provide competitive rates, but it's essential to check the current rates before making a transfer.
SmileRemit vs Wise Fees Japan
When comparing fees, consider the following:
- Transfer fees: Wise typically charges lower fees (around 1-2% of the transfer amount) compared to SmileRemit (around 2-3%).
- Exchange rate margins: Wise often provides better exchange rates, resulting in more competitive overall costs.
Conclusion
Choosing the best remittance app in Japan requires careful consideration of fees, exchange rates, and transfer methods. By following this guide and comparing the top remittance apps, you can make informed decisions and send money efficiently to Nepal, India, Sri Lanka, Bangladesh, and the Philippines. Use a real-time comparison tool like RatesRemit's Comparison Tool to find the best option for your next transfer.