# Japan Money Express (JME) Check out fees and exchange rates!

##### Yumiko Kijima

Japan Money Express (JME) offers international payments by bank transfer, or for cash collection, and promotes their payment service to 8 countries in South and SouthEast Asia.

This guide walks through all you need to know about Japan Money Express, including how to make a JME money transfer, fee details, and the JME exchange rate. We’ll also cover an alternative as a comparison - low cost international payments with Wise. Let’s get started, with all you need to know to cut the costs of sending money overseas.

### JME Japan: a cost example

To start us off, we’ll look at a cost example: Sending 100,000 JPY from your Japanese account to your family’s account in Nepal

Japan Money Express ¹ Wise²
Fee 1,000 JPY 1,299 JPY
Exchange rate (JPY→NPR) Rate with a possible markup (1.109) Mid-market rate - the same rate that you find on Google (1.126)
Actual cost 1,000 JPY + markup within the exchange rate offered 1,299 JPY
Your recipient gets 109,791 NPR 111,155 NPR

(October 26 2020 at 14:11 (GMT+2))

This is a great illustration of why you need to take a look at the exchange rates, not just transfer charges, when sending money overseas. Japan Money Express has a lower upfront fee, but when you take the exchange rate into account, the transfer works out better value with Wise in the example above.

Here’s how the calculations are done:

• JME:
Amount converted: 100,000 JPY - 1,000 JPY (transfer fee) = 99,000 JPY
Exchange rate offered: 1 JPY = 1.109 NPR
Recipient gets: 99,000 JPY * 1.109 NPR/JPY = 109,791 NPR

• Wise:
Amount converted: 100,000 JPY - 1,299 JPY (transfer fee) = 98,701 JPY
Exchange rate offered: 1 JPY = 1.12617939137 NPR
Recipient gets: 98,701 JPY * 1.12617939137 NPR/JPY ≈ 111,155 NPR

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

## Understand Japan Money Express (JME)’s exchange rate - compare with the ‘real’ rate

Many international transfer providers add a markup to the mid-market exchange rate and that can become a ‘hidden fee’ of an international transfer.

The mid-market exchange rate is the rate set on global currency markets - the most real rate available.

To get the best deal on an international payment it makes sense to check the exchange rate you’re offered against the live mid-market exchange rate for your currency. You can check the mid market rate by simply googling ‘JPY to NPR’ or by any online currency converter.

If there’s a difference between the rate offered and the real rate you found, it probably means a markup - an extra fee - has been added by the provider. In that case you might want to consider a different service like Wise.

Wise passes on the mid-market rate with no margin or markup added and charges only low, transparent fees.

## Japan Money Express (JME) transfer fees

The JME transfer fee depends on where you’re sending money to, and the amount of money you want to transfer. Here’s a rundown of the fees you need to know about.³

Sending money to Bangladesh:

Amount sent JME transfer fee
Up to JPY50,000 JPY650
JPY50,000.01 - JPY500,000 JPY850
JPY500,000.01 - JPY1,000,000 JPY1,000

Sending money to India:

Amount sent JME transfer fee
Up to JPY10,000 JPY700
JPY10,000.01 - JPY30,000 JPY850
JPY30,000.01 - JPY50,000 JPY1,000
JPY50,000.01 - JPY250,000 JPY1,450
JPY250,000.01 - JPY1,000,000 JPY1,800

Sending money to Indonesia:

Amount sent JME transfer fee
Up to JPY50,000 JPY850
JPY50,000.01 - JPY400,000 JPY1,400
JPY400,000.01 - JPY1,000,000 JPY2,000

Sending money to Nepal:

Amount sent JME transfer fee
Up to JPY30,500 JPY500
JPY30,500.01 - JPY151,000 JPY1,000
JPY151,000.01 - JPY1,001,500 JPY1,500

Sending money to Pakistan:

Amount sent JME transfer fee
Up to JPY30,000 JPY850
JPY30,000.01 - JPY250,000 JPY1,400
JPY250,000.01 - JPY1,000,000 JPY1,900

Sending money to the Philippines:

Amount sent JME transfer fee
Up to JPY10,000 JPY500
JPY10,000.01 - JPY30,000 JPY720
JPY30,000.01 - JPY150,000 JPY950
JPY150,000.01 - JPY250,000 JPY1,200
JPY250,000.01 - JPY1,001,500 JPY1,500

Sending money to Sri Lanka:

Amount sent JME transfer fee
Up to JPY30,000 JPY800
JPY30,000.01 - JPY350,000 JPY1,200
JPY350,000.01 - JPY1,000,000 JPY1,500

Sending money to Vietnam:

Amount sent JME transfer fee
Up to JPY30,599 JPY599
JPY30,599.01 - JPY1,000,000 JPY999

### 💡A cheap and transparent alternative: Wise

Before you decide to send your money using Japan Money Express - or if your destination isn’t covered by JME’s service - check out Wise.

#### Sending money without ‘hidden fees’ in exchange rates

With Wise, you can send money to 80+ countries with the mid-market exchange rate without any markup. This often works out much cheaper than other providers.

The true cost of sending JPY to NPR

Wise can offer a much lower overall cost thanks to a smart new approach to sending international payments. Instead of relying on outdated payment networks like regular banks and payment providers, Wise uses a series of local accounts to move money across borders at a fraction of the normal cost. That means a better deal for the customer, clearer pricing, and better exchange rates.

To send money with Wise,

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/credit 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.

Even when banks and other providers seem to offer cheaper fees than Wise, double-check their exchange rates, too, as they may markup their rates.

Do you regularly receive money from abroad to Japan? You can receive money for free to a Wise multi-currency account from the UK, US, Australia, New Zealand, and many European countries, just like a local. Hold your money in 50+ different currencies, and switch it using the mid-market rate whenever you want to!

• Manage 50+ currencies
• Get local bank account details for UK, US, Europe, Australia, New Zealand, Hungary
• Send money to 80+ countries without ‘hidden fees’ in exchange rates

## How to make JME (Japan Money Express) money transfers

You can make a transfer with JME and pay by bank deposit or by cash by visiting a JME office or agent location.⁴

Depending on the country you’re sending to, you’ll be able to arrange to have your recipient collect the payment in cash or have it sent directly to their bank account. You’ll also be able to get the local cash delivered to your recipient’s home address.⁵

### What you need to make an international money transfer with JME (Japan Money Express)

To set up an account with JME you’ll need to provide your government issued ID document such as an identity card, passport or residence card⁶.

Once you’re ready to make a payment you’ll need to provide information for your recipient - the details required will depend on how you want the payment to be delivered.

For cash collection you’ll usually need to give the recipient’s full name as shown on their government ID, and their contact details. You’ll then be given a reference number after the transfer is initiated, which you must pass to the recipient so they can collect the cash.

If you’re sending a payment to your recipient’s bank account you’ll usually need their full bank details, including the name and address of their bank, bank account number, SWIFT code, and any other locally required details.

### Bank transfer

You can send money with JME and fund the payment by bank transfer. Here’s what you need to know.⁴

#### Japan Money Express bank account:

If you send from your Japan Post Bank account

• Account name: シ゛ャハ゜ンマネーエクスフ゜レス（カ
• Account number: 10110-95388741

If you send from other banks than Japan Post Bank

• Account name: シ゛ャハ゜ンマネーエクスフ゜レス（カ
• Bank name: Japan Post Bank
• Branch name: 〇一八 店（ゼロイチハチ店
• Account number: 9538874

### Cash over the counter

You can also choose to pay in cash for your transfer, at any of JME’s offices and agent locations.⁴

## Japan Money Express (JME) contact

Here’s how you can talk to Japan Money Express about your payment, or get further details and advice:⁴

Before you set up your international payment, compare the costs of several providers to find the best one for you. Consider modern online alternatives like Wise, and you may find you can save.

Sources
1. JME Remittance (October 26 2020 at 14:11 (GMT+2))
2. Wise (October 26 2020 at 14:11 (GMT+2))
3. JME Remittance - Service fee
4. JME Remittance
5. JME Remittance - Services
6. JME Remittance - Customers Acceptance Policy

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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