Receiving Money from Abroad: Getting Funds into Japan

This guide shows simple, practical ways to receive money from overseas into Japan—bank wires, foreign-currency accounts, fintech options, and even cash or checks—plus fees, timing, documents, and tax basics. You’ll also learn key rules like IBAN, My Number, and large-value reporting.

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Why this matters

Whether you’re relocating, supporting family, getting paid from overseas clients, or receiving a gift, knowing the right channel (and the documents each bank will ask for) saves time and fees. Japan has clear rules for incoming funds, and banks follow strict verification steps to comply with the Foreign Exchange and Foreign Trade Act (FEFTA) and anti-money-laundering standards.

Best Banks in Japan for Foreigners • Open a Bank Account in Japan • Tax Basics for Foreign Residents in Japan

Quick answers to common questions

• Does Japan use IBAN? No. Japan does not use IBAN. You provide a SWIFT/BIC code plus your bank/branch/account details. Sony Bank even states “Sony Bank doesn’t have IBAN, ABA or Routing Number.” MUFG likewise explains Japan doesn’t use IBAN/ABA codes.
• Will I be asked for documents? Yes, banks routinely verify the purpose of remittance, source of funds, and relationship with the sender before crediting money.
• Are large transfers reported? Payments between residents and non-residents ≥ JPY 30 million must be reported to the Bank of Japan (not an approval—just disclosure). Banks handle this with you.
• Is there a “receiving fee”? Some banks charge, some don’t. For example, Sony Bank charges no receiving fee (intermediary banks may still deduct fees), while SBI Shinsei charges around the equivalent of JPY 2,000 per incoming remittance (amount varies by currency).

The main ways to receive money into Japan

1) International bank transfer (SWIFT)

This is the most common path. The sender’s bank sends funds through the SWIFT network into your Japanese account. Japan does not use IBAN; you provide your bank name, branch, account number (often branch code + account number), your name/address, and your bank’s SWIFT/BIC. MUFG’s instructions show the format: 3-digit branch code + 7-digit account, and confirm Japan doesn’t use IBAN.

Foreign Currency Accounts in Japan • Wise and Other Remittance Apps in Japan

2) Fintech/money transfer service crediting your Japanese account

Licensed providers (for example, those operating under Japan’s Payment Services Act) can route overseas funds into Japan quickly, often with transparent pricing. Since 2024, Wise Japan holds a Type 1 Funds Transfer Service license (for high-value remittances), and also gained direct access to Japan’s Zengin clearing network in 2024, improving speed and costs for JPY credits.

International Money Transfers to Japan

3) Cash you physically carry into Japan

There is no hard cap on cash you can bring, but you must declare if you carry over JPY 1,000,000 equivalent (or precious metals over 1 kg). Customs provides a simple declaration form at airports and seaports.

4) Foreign checks (less common)

Some banks (e.g., SMBC Trust Bank PRESTIA) can accept overseas checks, but clearing takes time and involves fees and holding periods. It’s much slower than a wire and not ideal for urgent needs.

Comparison table: ways to receive overseas funds in Japan

Method	Typical speed	Main fees	Good for	Watch-outs
SWIFT wire to JPY account	1–5 business days	Bank receiving fee + possible intermediary deductions; FX spread if converted	Salaries, tuition, family support	Japan doesn’t use IBAN; ensure SWIFT + branch + account format is correct; intermediary bank may deduct.
SWIFT wire to foreign-currency account	1–5 business days	Bank receiving fee (or none, depending on bank) + possible intermediary deductions	Holding USD/EUR etc. to convert later	Some banks charge to receive; verify currency support and any conversion rules.
Fintech provider credit to JPY account	Same-day to 1–2 days	Provider fee; usually transparent	Everyday transfers, small to large amounts	Use licensed providers; higher per-transfer limits available under Type 1 license; fast JPY delivery via Zengin access.
Cash carried in	Instant (once in JP)	None	Emergency funds, one-off	Must declare > JPY 1,000,000 equivalent to Customs.
Foreign check deposit	Weeks	Bank handling fee; foreign bank charges; FX spread	Rare cases where a check is unavoidable	Long clearing time and uncertainty; confirm acceptance first.

What details the sender needs

Prepare a clean, single sheet of beneficiary details for your sender:

• Your bank’s SWIFT/BIC (e.g., Sony Bank: SNYBJPJT)
• Bank name and address (e.g., Sony Bank Head Office address)
• Your branch and account number format (e.g., 001-XXXXXXX at Sony Bank; many banks use branch code + 7-digit account)
• Your full name and address as registered with your bank
• Intermediary bank details if required (varies by currency)

Sony Bank’s “Required Information” page lists the SWIFT (SNYBJPJT), shows the 001-XXXXXXX pattern, and even provides a ready list of intermediary banks to use per currency (e.g., JPMorgan for USD, MUFG BOTKJPJT for JPY).

MUFG also explains the 3-digit branch + 7-digit account format and confirms IBAN/ABA are not used in Japan.

Understanding Japanese Banking Fees

Fees and exchange rates to expect

• Receiving fee: Banks may charge a flat fee to receive funds. Example: SBI Shinsei lists a handling fee roughly equivalent to JPY 2,000 (varies by currency); Sony Bank charges no receiving fee but warns other banks in the chain may deduct.
• Intermediary bank fees: Funds can arrive net of deductions from correspondent banks. Sony Bank calls this out clearly; SMBC Trust Bank notes additional bank charges can apply in cross-border transfers.
• FX conversion: If your receiving account is in yen and money arrives in a foreign currency, the bank converts at the bank’s telegraphic transfer buy rate (TTB) on the credit date (e.g., MUFG). If you want to avoid auto-conversion, receive into a foreign-currency account.

Foreign Currency Accounts in Japan

How long does it take?

Most international credits post in 1–5 business days. Banks note it “may take several days” depending on the route and checks; fintechs with direct access to Japan’s clearing can be faster for JPY credits.

Verification you should expect

Japanese banks routinely perform enhanced due diligence on incoming foreign currency remittances. Sony Bank states you may be asked for the purpose of remittance, source of funds, and documents confirming the relationship with the remitter; if verification isn’t completed (even within a month), the bank can return the funds to the sender. This is normal and required under FEFTA/AML rules.

Important legal thresholds and reports

• FEFTA 30 million report: If you receive ≥ JPY 30,000,000, a Report of Payment/Receipt must be filed to the Bank of Japan. Banks like SBI Shinsei say they will mail you the form when needed. This is a report, not a request for permission.
• My Number collection: For international fund transfers, banks require your Individual Number (My Number) to meet domestic reporting laws (and they’ll ask you to register it before using these services). SBI Shinsei and Japan Post Bank describe this requirement clearly.

Receiving into a foreign-currency account vs yen account

Receiving into a foreign-currency account lets you hold USD/EUR etc. and convert later when rates suit you; just ensure the sender does not convert mid-route and includes any required intermediary bank. Sony Bank even suggests writing “Do not convert / No Exchange” in the note field to reduce unwanted currency changes by correspondent banks (though it cannot guarantee it).

If you receive into a yen account, the bank converts at its own TTB rate on credit—simple, but you lose control over timing. MUFG describes this behavior and the alternative of designating a foreign-currency deposit to receive in the original currency.

Note that foreign-currency deposits are not covered by Japanese deposit insurance (banks disclose this in product notes; for example, SBI Shinsei).

Currency Exchange in Japan

Using fintech and licensed remittance providers

Japan’s Payment Services Act allows Type 1 funds transfer providers to handle higher-value remittances. Wise Japan obtained a Type 1 license in 2024, and Reuters reported Wise became the first foreign firm with direct access to Zengin—allowing fast local JPY credits to your bank. This can cut costs and improve speed vs traditional cross-border wires.

Wise and Other Remittance Apps in Japan

Bringing cash into Japan

If family hands you cash overseas and you plan to carry it in, remember the customs declaration at the border for over JPY 1,000,000 equivalent (or >1 kg precious metals). This is a simple form you submit to Customs; it’s about transparency, not a tax at the border.

Taking Money Out of Japan

Receiving foreign checks

Some banks will accept foreign checks, but it’s slow and may involve extra charges and long holding periods before funds are available. SMBC Trust Bank notes it takes time to collect checks drawn abroad and may handle them as individual collection with a retention period. If speed matters, use wires or licensed fintech instead.

International Money Transfers to Japan

Taxes when money arrives in Japan

Remittances themselves are not a tax category, but they can bring tax implications depending on what the money represents and your tax status:

• Residents are generally taxed on worldwide income; however, non-permanent residents (NPRs) are taxed on Japan-source income and foreign-source income to the extent it is paid in or remitted to Japan. The NTA’s guide explains the remittance basis with examples; PwC summarises the NPR rules in English.
• Gifts: Japan imposes gift tax on the recipient. There’s a JPY 1.1 million annual basic exemption per calendar year; gifts above that may require a gift tax return and tax payment (rates depend on amount and relationship). See the NTA’s English page.

Practical tip: If the incoming funds are salary or business income, keep payslips/invoices and include them in your Japan tax filing. If funds are a gift, keep a simple gift letter and track amounts against the annual exemption.

Tax Basics for Foreign Residents in Japan

Bank-by-bank highlights for receiving money

Bank	Can receive in foreign currency?	Receiving fee	Notes
Sony Bank	Yes, 11 currencies	No Sony Bank receiving fee; intermediaries may deduct	Requires purpose/source verification; gives intermediary bank list by currency; no IBAN/ABA.
SBI Shinsei	Yes (multiple currencies)	Handling fee ~JPY 2,000 (currency-based equivalents)	My Number registration required; if ≥ JPY 30m, “Report of Payment” mailed to you.
Japan Post Bank (JP Bank)	Yes (incoming to JP Bank accounts)	Varies	Over-the-counter/int’l remittance service changed in 2025, but receiving into JP Bank accounts is available; My Number required for int’l remittance services.

Troubleshooting delays and short receipts

• Amount is smaller than expected: Intermediary/correspondent banks may deduct their own fees en route before the funds arrive. This is normal in SWIFT. Sony Bank and SMBC Trust Bank both warn about these deductions.
• Bank asks for documents: Send the requested purpose, source of funds, and relationship proof (e.g., invoice, payslip, family registry/explanation). Sony Bank notes funds can be returned if verification fails or documents are late.
• Currency changed unexpectedly: Intermediary banks may auto-convert. Sony Bank suggests adding “Do not convert / No Exchange” in the transfer notes to reduce this risk.
• Very large receipts (≥ JPY 30m): Expect a Bank of Japan reporting form via your bank; fill and return promptly.

Step-by-step checklist to receive money into Japan

1. Choose the channel: SWIFT to yen, SWIFT to foreign currency, or licensed fintech. Consider speed vs cost.
2. Collect your details: SWIFT/BIC, bank and branch, account format, your registered name/address, and any intermediary bank required (Sony Bank lists these).
3. Register your My Number with your bank if not done yet; many banks require this for international remittances.
4. Tell the sender “no conversion” if you’re receiving into a foreign-currency account (to reduce mid-route FX).
5. Expect verification: Be ready with purpose/source/relationship documents.
6. For very large amounts: Complete any BoJ Report of Payment/Receipt your bank sends you (≥ JPY 30m).
7. Track the credit and fees: Compare received amount to the sender’s MT103/SWIFT receipt; differences often reflect correspondent fees. (Sony/SMBC warn about these.)

FAQ

Can my sender ask for an “IBAN” for Japan?
No. Give your bank’s SWIFT/BIC and your branch + account number. Sony Bank explicitly says it has no IBAN; MUFG confirms Japan doesn’t use IBAN/ABA.

What happens if the name doesn’t match exactly?
Banks may hold or return funds. Use the same romanized name registered with your bank and double-check your address and branch code. MUFG explains formatting and name guidance.

Can I receive Chinese Yuan (CNH)?
Some banks do not accept CNH inbound (Sony Bank lists CNH as unsupported). Always check the bank’s currency list.

Is there a limit to bringing cash into Japan?
No hard limit, but you must declare if you carry over JPY 1,000,000 equivalent or precious metals over 1 kg.

Is foreign-currency deposit insurance covered?
No. Banks disclose that foreign-currency deposits are not protected by deposit insurance (e.g., SBI Shinsei).

Key takeaways

• Japan doesn’t use IBAN—senders need SWIFT/BIC + branch + account.
• Expect verification for incoming foreign remittances (purpose, source, relationship).
• Large transfers (≥ JPY 30m) trigger a report to the Bank of Japan.
• Fees differ by bank: Sony Bank charges no receiving fee; SBI Shinsei charges about JPY 2,000. Intermediary banks may deduct fees regardless.
• Fintech options (Type 1 license; Zengin access) can deliver faster JPY credits with transparent pricing.

Helpful internal links to continue your research

• Foreign Currency Accounts in Japan: How to Open and Use
• Wise and Other Remittance Apps in Japan
• Taking Money Out of Japan: Currency Limits & Rules
• Open a Bank Account in Japan
• Tax Basics for Foreign Residents in Japan