About PayForex – Service overview
- What is PayForex?
- You’re not a bank, so how do you have the legal right to make remittances?
- Are there any physical offices for handling the PayForex services?
- What is myPay?
- How is the money we deposit to you for remittances kept safe?
What is PayForex?
PayForex is an international money transfer service provider and was established for the purpose to provide convenience at a lower price than traditional money transfer firms.
It was founded upon the law of payment and settlement (fund settlement law) and is registered as an official fund transfer firm of Japan (Director General of the Kanto Regional Financial Bureau #00010)
Currently this service is available to those with a Japanese nationality and all foreigners residing in Japan.
You’re not a bank, so how do you have the legal right to make remittances?
Although we are not a bank, we are a funds transfer service provider in according with the terms of the “Ordinance on Funds Transfer Service Providers,” specializing in remittance operations. As such, we have completed the necessary procedure at the Ministry of Finance and are registered with the Financial Services Agency. We ensure all our customers’ remittances safely reach their destination, so you can trust us with these operations.
Are there any physical offices for handling the PayForex services?
Our services are provided only online over the Internet.
What is myPay?
myPay is a page designated for the user. After completing login, the user will be able to exchange or transfer funds in myPay.
How is the money we deposit to you for remittances kept safe?
We are subject to the Security Deposits system defined in Payment Services Act. Based on the regulations in Article 44 of this Act, we have executed a Guarantee Contract of Security Deposits with Sumitomo Mitsui Banking Corporation, and we also made Security Deposits to Tokyo Legal Affairs Bureau. This service is to protect the remittance funds of each customer required by the Security Deposits system, and customers have the right to receive a refund based on the regulations in Article 59 of Payment Services Act.
- FAQ TOP5
- About PayForex
- User registration
- Deposits and withdrawals
- Overseas remittance