Quick Answer: Wise is a licensed money transfer service in Japan that uses the mid-market exchange rate with a transparent fee (typically 0.5-1.5% depending on the corridor). Registration requires a Japanese address, residence card, and My Number. Most transfers arrive within 1-2 business days. Wise is often the cheapest option for transfers to Southeast Asia and South America.
PR Disclosure: This article contains references to Wise's services for informational purposes. Zairyu Navi may receive compensation if you sign up through links on our comparison pages. This does not affect our editorial content or fee calculations shown below.
Setup: Step-by-Step Registration
Fee Structure
Wise charges a small, transparent fee and uses the mid-market exchange rate (the rate you see on Google). There is no hidden markup on the exchange rate, which is a key differentiator from traditional banks.
Cost Examples: Sending ¥100,000
| Destination | Wise Fee | Recipient Gets (approx.) | Delivery Time |
|---|---|---|---|
| Vietnam (VND) | ~¥750 | ~16,200,000 VND | 1-2 days |
| Philippines (PHP) | ~¥600 | ~37,500 PHP | 1-2 days |
| Nepal (NPR) | ~¥900 | ~87,000 NPR | 1-3 days |
| China (CNY) | ~¥1,100 | ~4,700 CNY | 1-2 days |
| Brazil (BRL) | ~¥1,300 | ~3,700 BRL | 1-3 days |
💡 Multi-Currency Account: Wise also offers a multi-currency account where you can hold balances in 40+ currencies. This can be useful if you receive payments in foreign currencies or want to lock in a favorable exchange rate.
Q: Is Wise legal and regulated in Japan?
Yes. Wise is registered with Japan's Kanto Finance Bureau as a licensed funds transfer service provider (資金移動業者). It is subject to Japanese financial regulations including anti-money-laundering requirements.
Q: Why does Wise require My Number?
Japanese law requires financial institutions to collect My Number for international remittance transactions. This is used for tax reporting purposes, particularly when cumulative transfers exceed ¥1 million per year.
Disclaimer: Fee examples are approximate and based on rates available at the time of writing. Exchange rates and fees fluctuate. Please check Wise's fee calculator for current pricing. This article references a specific financial service for informational purposes.
