How to send money to India from Japan with the best JPY-INR rate

The exchange rate is the price you will pay when buying Indian Rupee in Japan. A better exchange rate means you send more Indian Rupees to India.

Currently, the mid-market rate between the Yen and Indian Rupee is 0.5861.

Ensuring a strong combination of fees and exchange rates ensures the best deal on money transfers from Japan to India.

• The Mid-Market and Exchange Rates: Finding a provider as close to mid-market rate as possible will ensure more Indian Rupee for your Yen. The current JPY-INR mid-market rate is 0.5861 INR per Yen.

• Fees: Money transfer fees are charged on top the exchange rate and can be set, or a percentage of the total amount of Yen you’re sending to India. Regency FX currently has the lowest fees for transfers into INR of just 0 JPY. We always recommend searching for your exact send amount for an exact fee.

• Amount Received: The amount received in Indian Rupee is the biggest indicator of the total cost of sending money to India from Japan. The bigger the amount received in India, the lower the overall cost of sending from Japan.

A better option is to use a forward contract. This allows you to lock in an agreed exchange rate for transfers between Japan and India for a set amount of time, this can be up to two years in some cases.

Sending through a money transfer company via a bank transfer will most often be the way to get the best price when sending money from Japan to India.

Here are all the ways to send money from Japan to India:

Bank transfers

Bank transfers are often the better option for money transfers from Japan to India.

Sending money via a bank transfer with a company such as Regency FX for transfers from Japan to India allows you to benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


Debit and prepaid cards

Sending money from Japan to India with a prepaid or a debit card is very simple with .


is a leader in card payments for transfers from Japan to India, competing among a total of 6 active money transfer companies on this route.

Credit cards

We recommend avoiding credit card deposits as it usually means taking a cash advance and using it for the deposit. Instead, use a bank transfer or a debit card deposit to save on fees.

If you have to, we recommend running a comparison to find the best deal for your transfer.

Money transfer companies offering services between Japan and India have minimum or maximum thresholds on how much you can send or receive. These can be daily, weekly or monthly.

In particular, rates and fees for sending different amounts of Yen could change. We always recommend comparing JPY-INR rates for your specific transfer amount. Then, with transfers to India, shopping around each time can make a huge difference - as some providers offer introductory rates.

If you’re worried about transfer limits, for sending large amounts of JPY to India, we’d recommend Wise.

There are different options for receiving Indian Rupee in India. The most popular are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account. Not all providers offering transfers from Japan to India will offer every method for incoming Indian Rupee, so it’s best to check ahead of time.

Sending directly to a bank account is one of the most common ways to send money from Japan into India. For most part, this is because it means the recipient has to do very little. Wise is the best company for bank transfers between Japan and India.

And if you need cash right away, check if cash pickup is an option for transfers between Japan and India.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Regency FX.

You will need to verify your ID at the sign up stage when sending from Japan to India through a money transfer company.

Documents needed will vary and in some cases you might need a couple of different forms of ID.

ID can be verified in Japan through a government issued ID such as a passport or driver's license. If the recipient needs ID to collect money in India, both of these will also likely be accepted. Depending on the company you are using and where the money is going in India, it’s always best to check ahead just in case.

Larger transactions between Japan and India are likely to be subject to additional checks such as proof of funds for anti-money laundering purposes. This could slow down the process of sending money if you’re not prepared for them.

One of the reasons Wise scored so highly for large and regular transfers to India, was their easy sign up process in Japan.

When sending money between Japan and India there will be tax declarations to consider.

Some transfers into Indian Rupee may need to be reported to tax authorities in India. This is of particular note where inheritance or property purchases are involved.

Personal allowances and tax limits will change in India based on age, income and personal circumstance. When in doubt, please contact a tax professional in Japan or India to discuss your individual needs. This will ensure you are not missing any specific tax obligations associated with your transfer.