As a foreign resident living in Japan, sending money back home to family and friends can be a daunting task. With so many remittance options available, it can be overwhelming to choose the best one. In this guide, we will walk you through the process of sending money to mobile wallets such as GCash in the Philippines and bKash in Bangladesh from Japan.
Introduction to Mobile Wallets
Mobile wallets have become increasingly popular in recent years, especially in countries where traditional banking systems are underdeveloped. GCash and bKash are two of the most popular mobile wallets in the Philippines and Bangladesh, respectively. They allow users to store, send, and receive money using their mobile phones.
Benefits of Sending Money to Mobile Wallets
Sending money to mobile wallets has several benefits, including:
- Convenience: Mobile wallets are easily accessible and can be used to receive money anywhere, anytime.
- Speed: Transactions are typically processed in real-time, meaning the recipient can access the funds immediately.
- Low Costs: Sending money to mobile wallets can be cheaper than traditional remittance methods, such as bank transfers or cash pickups.
Remittance Service Providers in Japan
There are several remittance service providers in Japan that offer mobile wallet transfer services. Some of the most popular ones include:
- Wise: Known for their competitive exchange rates and low fees.
- SmileRemit: Offers a wide range of payment options, including bank transfers and cash pickups.
- JpRemit: Provides fast and secure transactions with competitive exchange rates.
- BrastelRemit: Offers a user-friendly interface and low fees for mobile wallet transfers.
- CityRemit: Provides a wide range of payment options and competitive exchange rates.
- JapanRemit: Offers fast and secure transactions with low fees.
- KyodaiRemit: Provides a user-friendly interface and competitive exchange rates.
Step-by-Step Guide to Sending Money to Mobile Wallets
Here's a step-by-step guide on how to send money to mobile wallets from Japan:
- Create an account: Sign up for an account with a remittance service provider that offers mobile wallet transfer services.
- Verify your account: Verify your account by providing the required documents, such as your passport and residence certificate.
- Add recipient details: Add the recipient's mobile wallet details, including their name, mobile number, and wallet ID.
- Choose payment method: Choose your payment method, such as bank transfer or cash pickup.
- Enter transfer amount: Enter the amount you want to transfer and review the exchange rate and fees.
- Confirm transaction: Confirm the transaction and wait for the funds to be transferred to the recipient's mobile wallet.
Comparing Fees and Exchange Rates
When sending money to mobile wallets, it's essential to compare fees and exchange rates among different remittance service providers. Wise and SmileRemit are known for their competitive exchange rates and low fees. However, JpRemit and BrastelRemit may offer better rates for larger transactions.
Tips for Sending Money to Mobile Wallets
Here are some tips to keep in mind when sending money to mobile wallets:
- Check the recipient's wallet limits: Make sure the recipient's mobile wallet can receive the amount you want to transfer.
- Use a secure internet connection: Always use a secure internet connection when transferring money online.
- Keep track of your transactions: Keep track of your transactions, including the transfer amount, exchange rate, and fees.
Conclusion
Sending money to mobile wallets from Japan can be a convenient and cost-effective way to support family and friends back home. By following this guide and comparing fees and exchange rates among different remittance service providers, you can make informed decisions and get the best value for your money. Use a real-time comparison tool like RatesRemit's Comparison Tool to find the best remittance service provider for your needs.