Cheapest Way to Send Money from Japan: Wise, Revolut, SBI Remit vs Banks

Last updated: June 2026 · 8 min read

Quick summary: Most foreign residents in Japan are silently losing ¥5,000–¥10,000 every time they wire money home through a Japanese bank — and they never see it on any single line of their bank statement. This guide compares every major remittance option available from Japan in 2026: Wise, Revolut, SBI Remit, Seven Bank, and traditional bank wire, so you can stop overpaying immediately.

Table of Contents

1. The hidden cost of Japanese bank transfers
2. Full comparison at a glance
3. Wise — the best option for most people
4. Revolut — best for frequent smaller transfers
5. SBI Remit — best for Southeast Asia and cash pickup
6. Japanese banks and Seven Bank — when they (rarely) make sense
7. Which service should I use? Decision matrix
8. Frequently Asked Questions
9. The Bottom Line

1. The hidden cost of Japanese bank transfers

Let’s start with a real example. You want to send ¥200,000 home. You log into your Japanese bank’s app, initiate an international wire transfer, and see a flat fee of ¥3,500. That feels acceptable.

What you don’t see is the exchange rate markup — the gap between the mid-market rate (what Google shows you when you search “JPY to USD”) and the rate your bank actually applies to your transfer. Japanese megabanks like MUFG, Mizuho, and SMBC typically apply a 1.5%–2.5% markup on top of the mid-market rate. That markup is invisible on any single screen; it’s simply baked into the exchange rate shown to you.

On a ¥200,000 transfer, a 2% exchange rate markup costs ¥4,000 — in addition to the ¥3,500 flat fee. Your real cost: ¥7,500. On a ¥300,000 transfer, the rate markup alone reaches ¥6,000.

If you’re sending money home once a month, the annual cost difference between a Japanese bank and Wise can easily reach ¥80,000–¥120,000. That’s one month’s rent in many Japanese cities, quietly disappearing every year.

The services in this guide either use the mid-market rate directly (Wise, Revolut) or charge a transparent, lower markup than a Japanese bank (SBI Remit). None of them are perfect for every situation — but any of them will beat a standard megabank wire for most transfer amounts and destinations.

2. Full comparison at a glance

All figures are approximate and change with market conditions. Refer to each service’s official pricing page for the rate at the time of your transfer.

Note: “Mid-market rate” is the exchange rate you see on Google — the real rate between two currencies. Any percentage added on top of that is how banks and transfer services make money on the exchange. Lower percentage = more money reaches your recipient.

3. Wise — the best option for most people

Wise (formerly TransferWise) uses the mid-market exchange rate with a transparent percentage fee on top — no hidden markup baked into the rate. For JPY transfers, that fee is typically 0.4%–0.8% depending on the destination currency. That’s the complete cost.

In concrete terms: sending ¥100,000 to a US bank account via Wise delivers approximately $655–$662 at current rates. The same transfer via a Japanese megabank delivers approximately $605–$620. That’s a $40–$55 difference on a single ¥100,000 transfer. Multiply by 12 months and it’s $480–$660 per year you’re either keeping or handing to your bank.

Setting up Wise from Japan — step by step

1. Create an account at wise.com or the Wise app. Enter your email and select Japan as your country of residence.
2. Verify your identity. Wise requires your Residence Card (在留カード) and your My Number card for users registered in Japan. Upload clear photos of both documents in the app.
3. Wait for verification. Identity checks typically complete in 1–3 business days. Plan this ahead — don’t expect to send money the same day you sign up. If you need to send money urgently this month, start verification now.
4. Link your Japanese bank account or top up by bank transfer from your JP bank when you’re ready to send.
5. Set up a transfer. Enter the amount and your recipient’s bank account details. Wise shows you exactly how much the recipient will receive — including all fees — before you confirm. Nothing is hidden.

Wise limits and what to do if you need more

The default per-transfer limit for Japan-registered accounts is ¥1,000,000. If you regularly send larger amounts, you can request a higher limit by submitting additional verification (proof of income and source of funds). This takes a few business days but is straightforward for salaried employees with pay stubs.

One thing Wise cannot do: cash pickup. If your recipient doesn’t have a bank account and needs to collect money in person, Wise isn’t the right tool for that corridor. SBI Remit handles that — see below.

Pricing reference: Check the current fee for your specific currency pair at wise.com/jp/pricing/ before transferring — fees vary by destination.

4. Revolut — best for frequent smaller transfers

Revolut is the right choice if you’re already using it as a daily spending card — which many foreign residents in Japan do for multi-currency spending and ATM withdrawals. The core benefit: mid-market rate on currency conversions up to ¥750,000 per month on the free Standard plan. No spread, no hidden markup. Above that monthly limit, a 0.5% fair usage fee applies.

The weekend surcharge — don’t miss this

Revolut adds a 1% surcharge on all foreign exchange on Saturday and Sunday (Japan Standard Time). This is easy to overlook and surprisingly expensive: if you’re sending ¥200,000 on a Saturday, that’s ¥2,000 in extra fees compared to making the exact same transfer on Monday. Schedule your Revolut transfers for weekdays.

Revolut vs. Wise: how to decide

• Already have Revolut, sending under ¥750K/month on weekdays: Use Revolut. No reason to open Wise just for transfers.
• Sending more than ¥750,000/month: Wise is cheaper above Revolut’s monthly cap.
• Transferring on weekends: Wise has no weekend surcharge — use it instead on Saturdays and Sundays.
• No existing account anywhere: Start with Wise — it’s purpose-built for international transfers and slightly cheaper on most JPY corridors.

5. SBI Remit — best for Southeast Asia and cash pickup

SBI Remit (formerly GoRemit — now fully rebranded; don’t search for the old name) is a Japan-based international remittance service that has operated for over 15 years. Unlike Wise and Revolut, which are strongest for USD/EUR/GBP destinations, SBI Remit is specifically optimised for Southeast Asian corridors: the Philippines, Vietnam, China, Indonesia, and Bangladesh.

Where SBI Remit is the better choice

• Cash pickup: Recipients in the Philippines and Vietnam can collect money at convenience stores and partner banks without a bank account. Wise cannot offer cash pickup at all.
• Philippines routes: Competitive fees for transfers to major Philippine banks (BDO, BPI) and GCash mobile wallet.
• Large CNY transfers: Transfers over ¥300,000 to Chinese bank accounts sometimes carry ¥0 transfer fee. Check the current rate at time of transfer.
• Vietnam routes: Transfer fee as low as ¥460 for standard Vietcombank transfers.

Where Wise is still better than SBI Remit

SBI Remit builds a margin of approximately 0.5%–1% into its exchange rate. The rate shown to you is not the mid-market rate. For USD, EUR, and GBP destinations, this makes Wise cheaper on total cost even when SBI Remit’s listed transfer fee looks lower. Always compare the total amount delivered to your recipient — not just the fee line.

Current fee tables by corridor are published on the official SBI Remit site: SBI Remit fee schedule. Live exchange rates are at SBI Remit exchange rates.

6. Japanese banks and Seven Bank — when they (rarely) make sense

Seven Bank international transfer

Seven Bank offers international transfers via their app or ATM for a flat fee of ¥1,950. This sounds cheap — but an exchange rate markup of 1.5%–2% makes it more expensive than SBI Remit for amounts above ¥100,000. Use Seven Bank only if you need a cash-accessible, same-day option and can’t access Wise or SBI Remit.

Japanese megabanks (MUFG, Mizuho, SMBC)

The standard megabank international wire: ¥2,500–¥4,000 flat fee plus 1.5%–3% exchange rate markup. This is consistently the most expensive combination in this guide for amounts under ¥2,000,000. The only scenario where a megabank wire becomes competitive: very large one-time transfers (¥2,000,000+) where the flat fee dilutes to under 0.2% of the total. For large one-off transfers, get quotes from both Wise and your bank before deciding.

Sony Bank — the exception worth knowing

Sony Bank is the most competitive Japanese bank for international transfers: ¥3,000 flat fee and better exchange rates than other Japanese banks. For transfers over ¥1,000,000, Sony Bank can occasionally match or slightly beat Wise on total cost — especially if you’re already a customer. It also offers full English online banking, which is genuinely rare among Japanese institutions.

7. Which service should I use? Decision matrix

8. Frequently Asked Questions

Is Wise legal to use in Japan?

Yes. Wise is registered as a fund transfer business (資金移動業者) under Japan’s Payment Services Act, licensed by the Kanto Local Finance Bureau. It is fully legal for Japan-resident foreigners to use for international money transfers.

Can I use Wise without a Japanese bank account?

Wise is funded by bank transfer from your Japanese bank account. If you don’t have a Japanese bank account yet, Wise can’t be funded easily as a Japan-based user. Set up your bank account first — our Japan bank account guide walks through the options. My Number verification is also required for Wise in Japan, so have your My Number card ready.

Do Wise or Revolut report transfers to Japanese tax authorities?

Both services comply with Japanese financial regulations, including reporting obligations. Sending money abroad is not a taxable event in itself — you’re moving money you’ve already earned and (presumably) already paid tax on. However, the income that’s being transferred may be subject to Japanese income tax depending on your visa status and tax residency. See our Japan Tax Filing 2026 guide for details.

What’s the maximum I can send via Wise from Japan?

The default per-transfer limit is ¥1,000,000. You can request a higher limit by completing additional identity verification — source of funds documentation, typically pay stubs or a bank statement. Requests take 2–5 business days and are straightforward for salaried employees. There is no stated annual maximum.

My bank app showed a small fee and I thought that was everything. Was I wrong?

Almost certainly yes. The flat wire transfer fee (¥2,500–¥4,000) is only part of the cost. The exchange rate your bank applies is typically 1.5%–3% worse than the mid-market rate — and this is never shown as a separate line item. On a ¥200,000 transfer, a 2% rate markup costs ¥4,000 in addition to whatever flat fee you saw. The total only becomes visible when you compare how much money actually arrives in your recipient’s account.

Can SBI Remit send to any country?

No — SBI Remit covers approximately 30 destination countries, with the deepest coverage in Southeast Asia. For Western Europe, North America, and Oceania, Wise or Revolut are usually cheaper and more capable. Check the current destination list at remit.co.jp.

I sent via Revolut on a Saturday and the rate was worse than expected. Why?

Revolut applies a 1% weekend foreign exchange surcharge on all currency conversions on Saturday and Sunday (Japan Standard Time). It’s noted in their terms but very easy to miss. For Revolut remittances, always schedule on Monday through Friday.

The Bottom Line

For the majority of foreign residents in Japan — sending monthly remittances to family, topping up a home-country savings account, or servicing a foreign loan — Wise is the right default. It’s transparent, legal, well-supported in Japan, and consistently delivers the most money to your recipient for USD, EUR, GBP, and AUD transfers.

If you’re sending to Southeast Asia — especially if your recipient needs cash pickup in the Philippines or Vietnam — SBI Remit is purpose-built for those corridors. Check their rate against Wise for each transfer and use whichever comes out ahead on total delivered amount.

If you already use Revolut as your daily card, keep using it for remittances under ¥750,000/month — just move your transfers to weekdays and you’re set.

If you’re still using a Japanese megabank for international transfers: the numbers in this guide show what that habit is costing you. A 10-minute Wise account setup pays for itself on the very first transfer.

What to Read Next

• Opening a Bank Account in Japan as a Foreigner — how to set up the Japanese bank account you’ll need to fund your Wise or Revolut transfers
• Japan Tax Filing 2026: What Expats Need to Know — how foreign income and overseas transfers factor into your Japanese tax return
• My Number Card & Resident Registration — the My Number card is required for Wise verification in Japan; get yours sorted first
• Best VPN for Japan 2026 — for accessing home-country banking apps that may be geo-blocked while you’re in Japan

Last updated: June 2026. Exchange rates and transfer fees change frequently — always verify current rates at the official pricing pages of Wise and SBI Remit before initiating a transfer. This article is for informational purposes only and does not constitute financial advice.

Sending money to a country not covered here? Leave a comment with your destination and we’ll add it to the next update.