Brastel Remit Japan - are they really cheap? Fees and exchange rates

Brastel Remit Japan is an international transfer service that can help you in remitting yen from Japan to Brazil. This guide will explain the costs and exchange rates when using Brastel Remit Japan. We’ll also take a look at Wise, a cheap and convenient option to send money abroad from Japan to 80+ countries, including Brazil.

Brastel Remit Japan: A Cost Example

We’ll look at the example of sending 100,000 JPY (including transfer fees) from Japan to your family’s real account in Brazil.

(October 23 2020 at 09:15 (GMT+3))

This side-by-side comparison shows why you need to take a look at both the fee, and the exchange rate used for international payments. Brastel Remit has a lower upfront fee, but when you take the exchange rate into account, the transfer works out cheaper with Wise in the example above.

Here’s how the calculations are done:

• Brastel Remit:
  Amount converted: 100,000 JPY - 1,480 JPY (transfer fee) = 98,520 JPY
  Exchange rate offered: 1 JPY = 0.0523024446 BRL
  Recipient gets: 98,520 * 0.0523024446 ≈ 5,152.84 BRL

• Wise:
  Amount converted: 100,000 JPY - 1,632 JPY (transfer fee) = 98,368 JPY
  Exchange rate offered: 1 JPY = 0.05340767681 BRL
  Recipient gets: 98,368 * 0.05340767681 ≈ 5,253.61 BRL (100.77 BRL more than Brastel Remit)

Make sure that you check exchange rates, not just transfer fees, when you do an international transfer - or you could end up paying more than you need to in fees.

Send money abroad with the 'real' rate🚀

Understand Brastel Remit’s exchange rate - watch out for markups

Transfer services usually mark up the rate when making international transfers for customers, while keeping the transfer fee low. Thus, there can be ‘hidden fees’ in the exchange rates when transferring money abroad.

Brastel Remit Japan updates their exchange rate every few minutes. Before sending money with Brastel Remit Japan, compare their rate against the mid-market rate - the ‘real’ rate - that you can find on Google or any online currency converter. On the website, it is listed that the exchange rate is based on the transfer amount from yen to US dollars converted into local currency.³

Brastel Remit Japan does offer special exchange rates for customers who use the Brastel Card. In its campaign, with every remittance made customers will receive ¥150 for any transfer fee paid in deposit while using Brastel services. However, it comes with a cache: the transfer is not applicable for the Brastel Remit app or Brastel Remit Counter. It also only applies if your Brastel Card has been recharged at least ¥2,000 in the last three months prior to the transfer.⁴

Even with the special exchange rates, you always want to compare it with the ‘real’ exchange rate, as those special rates still include markup.

Compare exchange rates👀

Brastel Remit’s charges

On the Brastel Remit website, such charges are listed below when you send money to Brazil. For other countries, you can check on the Brastel Remit website.

1. Transfer fee: the fee ranges from ¥880 to ¥1,680, with a remittance max amount at ¥800,000 per transaction, and ¥5,000,000 per month.⁵

• Processing fee based on bank: when sending money through either Mizuho or Japan Post Bank account, processing fees can range based on bank account and time of day.
• Refund fee: in the case of a refund, the transfer fee and an additional ¥500 fee will be charged.
• Records inquiry fee: a fee of ¥500 will apply to process inquiries and amendments.

A cheap and transparent alternative: Wise

With Wise, you can send money to 80+ countries with the mid-market exchange rate without any markup. You can clearly see how much you’re paying, unlike most banks and providers.

The transfer fees change according to the amount of money transferred, and it can get as cheap as 336 JPY, for example, if you send 10,000 JPY to a Brazilian real account in Brazil.

The transfer limit is 1,000,000 JPY per transaction.

To send money with Wise,

1. Create a free account
2. Choose an amount to send
3. Add recipient’s bank details
4. Verify your identity
5. Pay for your transfer by bank transfer or debit card

And that is it! You can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

Send money with 'real' rate💡

Receiving money for free, like a local does

In addition, Wise offers multi-currency accounts, which work the best if you receive and transfer money across borders or want to hold different currencies in one place.

It is free to get a personal Wise multi-currency account. A business multi-currency account costs 3,000 JPY as a registration fee.

Get a multi-currency account🚀

How to send money abroad from Japan with Brastel Remit

There are multiple ways to send money from Japan to Brazil with Brastel Remit. You can send money by depositing money to Brastel Remit’s bank accounts in Japan, and your recipient can receive in their bank account or mobile wallet, or cash at an agent collect point or at home via home delivery service.⁶

What you need to send money abroad from Japan with Brastel Remit

You will need the following:⁶

• Email address
• ID documents*
• My Number Document

Acceptable ID documents depend on nationality. For foreign nationals, residence card (zairyu) is mandatory plus one of the documents below containing your current address:

• Driver's license (both sides)
• My Number card (side with photo)
• Juki card with photo (both sides)
• Health insurance card (both sides)
• Residence certificate (original, issued within the last six months)
• Pension book (page with your name and pension number)
• Utility payment receipt stamped within the last six months (electricity, gas, water, landline phone or NHK bill)

For Japanese nationals, two of the following documents with your current address are accepted:

• Driver's license (both sides)
• My Number Card (side with photo)
• Passport (pages that contain personal information and address)
• Juki Card with photo (both sides)
• Residence Certificate (original, issued within the last six months)
• Health insurance card (both sides)
• Pension book (page with your name and pension number)
• Utility payment receipt stamped within the last six months (electricity, gas, water, landline phone or NHK bill)

1. Sign up with Brastel Remit

You can sign up for a Brastel Remit account through the Brastel app(iOS, Android)the Brastel Remit website, or in person at one of the Brastel Remit Counters. You have to have the documents above ready.

2. Place a transfer request, and deposit money to Brastel Remit’s account

The processes at Brastel Remit are different for the app version and the website version, so check carefully before proceeding with the transfer.⁵

Brastel Remit App

1. Deposit the money at the ATM with the Brastel Remit card, which you’ll get after a sign-up. You can also transfer the money through online banking.
2. Register your recipient through the Brastel Remit app.
3. Place a request on the app.
4. Process completed.

Brastel Remit Website

1. Place a request on the website.
2. Deposit the amount into the Mizuho account that Brastel has set up for you via internet banking, or at the nearest ATM or bank counter.
3. Process completed.

Brastel Remit Japan contact & customer service

If you need help, you can reach out to Brastel Remit Japan through their online contact form.

Before you decide how to set up your international transfer, make sure to note the transaction costs and transfer fees. Compare the overall costs of your transfer against a modern alternative like Wise. Wise uses the mid-market exchange rate with no markup, so you may be able to save more money when you send remittances to Brazil or other 80+ countries.

Create a free account🚀