Sending money to Japan is exceptionally easy, and you have access to a great range of deals. Regardless of what you are specifically looking for in a money transfer service, or where you are sending money from, there is at least one good option for you in Japan.
The current exchange rate for the Japanese Yen (JPY) is 108.7320 JPY per American Dollar (USD), as of the time this was written. The JPY reached a high of 108.8695 JPY per USD, and a low of 104.8575 JPY per USD during the last 90 days. The average exchange rate for the JPY was 107.1795 JPY per USD for the last 90 days.
The average volatility rate of the JPY against the USD was 0.24% over the last 90 days. This is a moderate volatility rate, and while the JPY has fluctuated in recent years, it is not to a significant extent for the purposes of sending money. You can reasonably expect only moderate fluctuations going forward, barring any unforeseen circumstances.
Ria Money Transfer’s fast option is the quickest way to send your funds to Japan. Make sure you are paying for the fast option, however, otherwise the money will take days to arrive. With Ria Money Transfer’s fast service, your money should reach its Japanese destination in a matter of minutes.
The cost of sending money with Ria Money Transfer’s fast service is more expensive than the service’s slower option. They more than make up for this with both their speed and the fact that most of the more expensive options are actually far slower.
It should also be noted that Ria Money Transfer has no sending locations in Japan.
OFX is by far the cheapest way to send funds to Japan. OFX charges a small currency exchange fee that depends on the amount of money being transferred. The more money you send through OFX, the better deal you end up getting. On the lower end, OFX takes 1% of the transfer. However, as you send more money, this rate declines to the eventual lowest possible rate of 0.4%. The only catch is that OFX requires you to be sending a minimum amount of money to be able to use their service. For many countries, this would be a larger issue, but any amount of money simply won’t go as far in Japan. In the case of sending cash online to Japan, OFX often only takes a day or two for the transaction to be completed
If the minimum transfer is too high for you, TransferWise is usually as cheap as OFX for smaller transactions. TransferWise (and the majority of services apart from OFX) doesn’t carry a minimum transfer fee.
TransferWise is the easiest way when it comes to money transfers to Japan. As a peer-to-peer system, TransferWise has a nice, streamlined process for sending cash online to Japan. All you need to do is follow three simple steps:
The overall best way to send money online to Japan is through OFX. If you’re sending funds to Japan with any regularity, you’ll likely be sending more due to the fact that everyday goods and expenses in most of Japan are quite high. Beyond that, OFX offers the biggest savings by far when you transfer funds online to Japan. As a currency exchange company, OFX makes sending money very easy as well.