WorldRemit: Sending from Japan? Exchange rate and fee explained

Yumiko Kijima

If you’re planning on sending an international payment, you have plenty of options. It’s possible to send money overseas through your normal bank, or choose a third party service like WorldRemit.

Before you decide how to send your transfer, it pays to check out the fees and exchange rates available from different providers. This guide walks through all you need to know about sending money from Japan through WorldRemit. We’ll also highlight Wise - a smart low cost payment service which may offer you a better overall deal on your international transfer.

WorldRemit Japan: a cost example

Before we get started let’s look at a cost example: Sending Japanese yen to your friend in the US so that they receive 1,000 USD

WorldRemit ¹ Wise ²
Transfer fee 400 JPY 791 JPY
Exchange rate(USD→JPY) Rate that WorldRemit decides (106.382) Mid-market rate - the 'real' rate (104.625)
The amount you need to deposit 106,117 JPY 105,416 JPY Send money

(October 30 2020 at 15:12 (GMT+2))

This is a great illustration of why you need to take a look at the exchange rates, not just transfer charges. If you only glance at the transfer fees, WorldRemit looks cheaper than Wise. But when you take the exchange rate into account, the Wise payment works out cheaper in the example above.

Here’s how the calculations are done:

  • WorldRemit:
    Transfer fee: 400 JPY
    Exchange rate offered: 1 JPY = 0.0094 USD
    The amount converted: 1,000 USD ÷0.0094 USD/JPY = 106,117 JPY
    Total you need to pay: 106,117 JPY + 400 JPY = 106,517 JPY

  • Wise:
    Transfer fee: 791 JPY
    Exchange rate offered: 1 USD = 104.625 JPY
    The amount converted: 104.625 JPY/USD * 1,000 USD = 104,625 JPY
    Total you need to pay: 104,625 JPY + 791 JPY = 105,416 JPY (1,101 JPY cheaper than WorldRemit)

Make sure that you check exchange rates, not just transfer fees, when you make an international transfer. Wise always offers you the mid-market exchange rate with just a low, transparent transfer fee.

Send money abroad with Wise🚀

WorldRemit fees and exchange rates

WorldRemit offers a range of different payment delivery options, including³:

  • Payment direct to a bank account
  • Cash collection
  • Mobile money payments
  • Home delivery

Not all delivery methods are available in all destination countries - and the fees you pay will depend on the type of payment you want to make. Fees may also vary according to the value of the payment.

You’ll be able to model the payment you want to make online which will show you the exchange rate and fee for your specific transfer. Here’s a look at payments to a couple of popular destination countries as an example.

Sending money to: WorldRemit fees:
USA⁴ Transfer fees start at JPY 150 for payments direct to the recipient’s bank account The fee for sending JPY 100,000 is JPY300
India⁵ Transfer fees start at JP Y525 for payments direct to the recipient’s bank account The fee for sending JPY 100,000 is JPY 1,050

As we noted above, the true cost of sending an international payment is not only in the transfer fees used. You may also pay an additional charge in the exchange rate used.

Compare the exchange rate you’re offered from any provider against the mid-market exchange rate to see if a markup has been added.

‘Hidden cost’ in exchange rates

Many banks and international payment services add a markup to the exchange rate they use for retail transactions. That’s an extra fee, but it’s not transparent, and it can make it tricky to see the true cost of the service you’re using.

Here’s what WorldRemit says about exchange rates in their Terms and Conditions document:⁶

‘When you pay for a Transaction in one currency and the Recipient is paid in another currency, there will be a difference between the exchange rate at which we buy foreign currency and the exchange rate provided to you. WorldRemit and its Service Providers usually make a small profit in these circumstances*.’*

WorldRemit, like many other providers, adds a margin to the mid-market rate offered to customers. To see this in action, you’ll need to compare the exchange rate WorldRemit offer for your particular payment, against the mid-market exchange rate which you can find on Google or any online currency converter. The difference is the markup.

Sending money from Japan with the ‘real’ rate: Wise

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

The true cost of sending JPY to USD

Wise doesn’t use the same outdated transfer systems as the banks. Instead a smart new approach allows for fast and secure international payments for less. By moving money around the world using local transfers instead of the SWIFT network, Wise cuts the costs of international payments - and passes the savings on to 8 million customers all around the world.

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/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.

See if you can save with Wise💡

NEW: A Wise multi-currency account

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. You can also hold your money in 50+ different currencies, and switch it using the mid-market rate whenever you want to.

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

Get a free multi-currency account🚀

How to send money from Japan with WorldRemit

To get started with WorldRemit you’ll first need to go through a verification process.

This process means you have to upload documents to confirm your name, residential address, date of birth and 12 digit MyNumber.

Once you have verified your account, you’ll be able to log in and model the payment you want to make online. This will show you the payment options, delivery methods, fees and exchange rates available for your destination country.

Once you have checked the fees and exchange rate you’ll need to follow the onscreen instructions to complete the transfer.

The final step is to make your payment to the WorldRemit bank account - bank details provided in both English and Japanese:⁷

  • Account Name: WorldRemit Ltd

  • Bank Name: Mitsui Sumitomo Banking Corporation

  • Bank Code: 0009

  • Branch: Head Office (Branch Code 200)

  • Account Type: Savings

  • Account Number: 3712969

  • 口座名義: ワールドレミツトリミテツド

  • 銀行名: 三井住友銀行

  • 銀行コード: 0009

  • 支店名(支店コード): 本店営業部(200)

  • 口座種別: 普通

  • 口座番号: 3712969

What you need to send money from Japan with WorldRemit

The first step in sending a payment with WorldRemit is to get your account verified. Here’s what you need to provide:⁷

  • Government issued photo ID document like a passport or a residence permit
  • MyNumber Card, or a Certificate of Residency as MyNumber card’s alternative
  • A selfie showing you at the time of making your transfer
  • (If your ID card shows your address on it, you don’t need this) Proof of residential address, such as a utilities bill

Once you’re up and running you will also need your recipient’s details to process the payment. The exact information you need will depend on where you’re sending money and the delivery method you choose. You can expect to need the recipient’s full name as shown on their bank account, and their bank account details for direct bank payments.

Before you set up your international transfer, it’s well worth comparing a few different providers to make sure you get the available best deal. Take a look at your regular bank, alternatives like WorldRemit, and also compare the smart, simple international transfers available from Wise. You might find you can save.

Create a free account🚀

Wise for sending money


  1. WorldRemit | Send a secure bank deposit to United States (October 30 2020 at 15:12 (GMT+2))
  2. Wise | The cheap, fast way to send money abroad. (October 30 2020 at 15:12 (GMT+2))
  3. WorldRemit | FAQ: Countries you can send money to with WorldRemit
  4. WorldRemit | Send a secure bank deposit to United States (November 17 2020 at 16:28, 16:29 (GMT+2))
  5. WorldRemit | Send a secure bank deposit to India (November 17 2020 at 16:30, 16:31 (GMT+2))
  6. WorldRemit | Terms And Conditions
  7. WorldRemit | FAQ: Send money from Japan

*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.

Money without borders

Find out more

Tips, news and updates for your location