News Product update

Konnichiwa! Instant transfers have landed in Japan.

Sathiyaseelan Muthukumar
Sathiyaseelan Muthukumar
02.04.20 (updated more than 1 year ago)
Read time 2 minutes

At Wise, we always put our customers first. That means really listening to feedback on how we can do better. Really.

So when you told us transfers should be quicker — we made it happen.

In the past, you’d have to wait 24 hours or more to receive money into your JPY account. But now, recipients can receive JPY in less than 60 seconds. That’s over 1400x quicker than before. Or 5km travelled on a Shinkansen!

It’s our mission to make money transfers instant, convenient, transparent and eventually free. So we’re thrilled to be one step further for those sending money to Japan — faster than purchasing a bullet train ticket.

Expanding into Japan came with its share of obstacles - strict regulations, a predominantly cash-based culture, and longstanding banks dominating much of the financial landscape. At this time, only 29.7%1 of payments in Japan are done without cash, reflecting a cautious attitude toward digital services.

While our local teams in Japan handled regulatory approvals and market adaptation, a key advantage was the flexible design of the Wise Multi-Currency Card. Early on, our product teams laid the groundwork for a system that could support multi-region launches, minimizing the complexity of local integrations. This forward-looking architecture made it possible to roll out features efficiently in a market wary of new financial technologies. By ensuring real-time currency conversions, transparent fees, and streamlined compliance, we managed to help customers feel secure about moving money internationally, despite the country’s traditionally conservative stance on
fintech.

“From the outset, our goal was to make the card architecture flexible enough to adapt quickly to different regions, without compromising on security or ease of use,” says Ilya Leyrikh, reflecting on how the multi-currency system was designed.

How to make your transfer to Japanese yen instant

Send JPY in two easy steps.

  1. Set up a transfer like normal.
    💡Tip: Enter your recipient’s name exactly as it appears on the recipient’s bank account. It’s usually written in カタカナ Katakana. A mismatch may cause a delay or rejection of your transfer.
  2. Pay for your transfer with an instant payment method.

The speed of your payment method depends on the currency you’re sending from.

Send money fromInstant payment methods
BRL, CAD, HKD, NZD, SGD, USDCards
GBPBank transfer, cards
AUDPOLi, cards
EURSEPA instant enabled banks, SOFORT, cards

If you’re sending from another currency and pay using a card or your existing Wise balance, your JPY transfer will be instant.

Most recipient banks in Japan should receive your transfer instantly, though a small number of banks with older systems could still take up to a day. The speed of your transfer would depend on your payment method. As soon as we receive your money, we will send JPY instantly to your recipient.

What’s next?

At the time of writing this article, 25% of our total transfers are instant*. So our mission is not yet complete. But we’re working hard to bring instant transfers to every corner of the world. Keep your eyes peeled for more currency routes speeding up in the coming months.

Sources and footnotes:

  1. Ministry of Economy, Trade and Industry in Japan
  2. * Under 20 seconds

*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