Quick Answer: For most corridors, Wise tends to offer the lowest total cost due to its mid-market exchange rate. PayForex is popular among Vietnamese and Nepalese communities for its multilingual support and competitive rates to those specific countries. Western Union excels in cash pickup availability worldwide but typically has higher total costs. The cheapest option depends on your specific destination country.
PR Disclosure: This article references specific financial services for informational purposes. Zairyu Navi may receive compensation through our comparison pages. This does not influence the fee calculations or rankings presented.
Service Overview
| Feature | Wise | PayForex | Western Union |
|---|---|---|---|
| Exchange Rate | Mid-market (no markup) | Own rate (small markup) | Own rate (larger markup) |
| Transfer Fee | ¥600-1,300 | ¥0-480 | ¥990-3,000+ |
| Speed | 1-2 business days | 1-3 business days | Minutes (cash pickup) |
| Languages | English, Japanese | EN, JP, VN, NE, others | English, Japanese |
| Payment Methods | Bank transfer | Bank transfer, convenience store | Bank, convenience store, agent |
| Cash Pickup | No | Some countries | Yes (500,000+ locations) |
Real Cost Comparison: Sending ¥100,000
Total cost = transfer fee + exchange rate difference from mid-market rate. This is the true cost of each service:
| Corridor | Wise Total Cost | PayForex Total Cost | Western Union Total Cost |
|---|---|---|---|
| → Vietnam (VND) | ~¥750 | ~¥800 | ~¥2,500 |
| → Nepal (NPR) | ~¥900 | ~¥700 | ~¥2,200 |
| → Philippines (PHP) | ~¥600 | ~¥850 | ~¥2,000 |
| → China (CNY) | ~¥1,100 | ~¥1,200 | ~¥3,000 |
| → Indonesia (IDR) | ~¥700 | ~¥900 | ~¥2,300 |
When to Use Each Service
Best exchange rate is your priority, you are sending to a bank account, and you are comfortable with an English/Japanese app.
Sending to Vietnam or Nepal, you prefer multilingual support (Vietnamese, Nepali), or you want to pay at a convenience store.
Your recipient needs cash pickup, speed is critical (minutes vs days), or the destination has limited banking infrastructure.
Q: Which service is cheapest overall?
For bank-to-bank transfers, Wise tends to have the lowest total cost for most corridors. However, PayForex can be cheaper for specific routes like Japan to Nepal. Always compare the total cost (fee + exchange rate) rather than just the transfer fee alone.
Q: Can I use these services without My Number?
All licensed remittance services in Japan require My Number for compliance. If you haven't received your My Number yet, you may need to use a bank wire transfer through your Japanese bank, though this is typically more expensive.
Disclaimer: Costs shown are approximate and based on rates at the time of writing. Exchange rates and fees fluctuate daily. Please use each service's calculator for current pricing. This article references specific financial services for informational purposes.
