Wise Payments Japan holds several licences which we use to transfer your money safely and securely across the world. One of these licences we hold in Japan is called Type 1 licence, and any transfer where this licence applies is called a Type 1 transfer.
What’s a Type 1 transfer?
If you’re sending more than 1,000,000 JPY, or an equivalent amount in any currency that Wise supports, and your profile address is based in Japan, we are using our Type 1 licence to service your transfer. Your transfer will be a Type 1 transfer.
What does that mean for me?
When you send money using our Type 1 licence, you need to agree to three key pieces of information:
Who you’re sending your money to
How much you’re sending
How long we estimate it will take for the money to arrive
Because of our commitment to transparency, Wise already shows you these three points, regardless of the licence used. We do this every time you set up a transfer.
Type 1 transfer estimates
For Type 1 transfers, we show you an estimate from the time we receive your funds. So it’s important you pay for your transfer as soon as possible. We'll always show you the estimated transfer time in your local timezone.
For instance, if at 9 a.m. of your local timezone we estimate your transfer will take 4 hours, and your money reaches us at 10 a.m. of your local timezone, your transfer will take 4 hours from 10 a.m., which is when we received your funds. In this example, we expect the transfer to be completed at 14 p.m. of your local timezone.
What if the transfer takes longer than your estimate?
For Type 1 transfers, in the unlikely case that it takes longer than expected to finish your transfer — because of additional checks we might have to do, or because of other factors outside of our control — we'll need to refund your transfer instead of giving you a new estimate.
You can read more about what happens to your transfer if it's delayed
You can also refer to the Type 1 transfer terms and conditions.