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About fees

Please see below for details regarding fees for overseas money transfers.

Types of fees

In addition to PayForex’s fees, other bank charges (fees from the beneficiary bank and intermediary banks) may apply for international bank to bank money transfers. image
Fees Who bears the fees Explanation
Transfer fee Sender Transfer fees of PayForex vary depending on the transfer amount and transfer currency, and are free for large-volume foreign currency transfers. For details, see “List of transfer fees“.
Lifting charge Sender Usually, this fee is charged when sending yen from a Japanese bank without converting to foreign currency. With PayForex, there is no lifting charge.
Intermediary bank fee Sender/Beneficiary This fee may be charged by an intermediary bank. The amount is unknown until the funds arrive, and may change without notice. If borne by beneficiary: deducted from transferred amount. If borne by sender: use the Pay Other Bank Charges service.
Beneficiary bank fee Sender/Beneficiary This fee may be charged by the beneficiary bank. The amount is unknown until the funds arrive, and may change without notice. If borne by beneficiary: deducted from transferred amount. If borne by sender: use the Pay Other Bank Charges service.

The Pay Other Bank Charges service

What is Pay Other Bank Charges service

In order not to be deducted by other banks from the transfer amount, you might choose Pay Other Bank Charges service and pay a universal fee of 2,500 JPY (paid in JPY, and no exchange is needed), PayForex will cover all other bank charges including the part that exceeds 2,500 JPY.

 

For overseas remittance, normally the arrival amount will be deducted by other banks from the transfer amount. If you would like to send designated amount, please use our Pay Other Bank Charges service.

The cases that Pay Other Bank Charges service cannot be applied

Please be kindly noted that the Pay Other Bank Charges service is not available when remitting to the countries or regions or banks stated below. Please contact our support desk for details.

Not available for these countries/regions

  • Canada
  • Hawaii, Guam
  • South and Central America

Not available for these banks

  • MORGAN STANLEY, CHASE BANK, US BANK, FIRST HAWAIIAN BANK (US)
  • MIZUHO BANK (Switzerland)
  • FBME BANK (Cyprus)
  • GOLOMT BANK (Mongolia)
  • DBS BANK (Singapore)

Sample fee calculations

With the Pay Other Bank Charges service – Other bank charges borne by sender

This allows you to specify a transfer deposit amount as payment for purchased goods, for example, so other bank charges are borne by the sender. With the Pay Other Bank Charges option, it is a ¥2,500 flat fee.

*Please slide to see the table.

Currency Amount(e.g.) Fees Lifting charge Intermediary bank charge Receiving bank charge Total fees
Foreign currency Over 5,000USD Free Not applicable 2,500JPY (Other bank charge) 2,500JPY
Foreign currency Less than 5,000USD 1,980JPY Not applicable 2,500JPY (Other bank charge) 2,500JPY+1,980JPY
=4,480JPY
JPY 100,000JPY 1,980JPY Free 2,500JPY (Other bank charge) 2,500JPY+1,980JPY
=4,480JPY

Without the Pay Other Bank Charges service – Other bank charges borne by beneficiary

If a transfer deposit amount is not specified, other bank charges are borne by the beneficiary. Other bank charges vary depending on the beneficiary bank (usually from ¥0 to ¥10,000). Please understand that PayForex cannot predict the exact amount.

*Please slide to see the table.

Currency Amount(e.g.) Fees Lifting charge Intermediary bank charge Receiving bank charge Total fees
Foreign currency Over 5,000USD Free Not applicable Deducted from sent amount Discovered upon arrival
Foreign currency Less than 5,000USD 1,980JPY Not applicable Deducted from sent amount 1,980JPY+Discovered upon arrival
JPY 100,000JPY 1,980JPY Free Deducted from sent amount 1,980JPY+Discovered upon arrival
[Example: fees charged by one Japanese bank “M”] Compare PayForex’s fees to those charged by the Japanese bank “M” in the chart below to see how low PayForex service charges really are!

*Please slide to see the table.

Currency Amount(e.g.) Fees Lifting charge Intermediary bank charge Receiving bank charge Total fees
Foreign currency Amount not relevant 4,000JPY 2,500JPY〜 3,000JPY(Recharge for excess) Over 9,500JPY
JPY Depending on the amount 4,000JPY 2,500JPY〜 3,000JPY(Recharge for excess) Over 9,500JPY

Other fees

The fee below is only charged when necessary.
Fees Explanation
Refund fees The Refund fees is 4,000 JPY. Due to the incorrect information of the beneficiary, the remittance is also 「refunded」. Please be careful not to make a mistake in overseas remittance destination registration as it will be subject to “setback”. Also, a fee will be incurred even if you do a refund procedure based on your request and the funds are not refunded (the refund is not completed)
Inquiry fees The inquiry fee is 4,000 JPY.
Modification fees The modification fee will cost 4,000 JPY. After the remittance information is modified according to the user’s requirements, there will be a modification fee due to the disqualification of the beneficiary information or the remittance reimbursement has been completed (a refund fee will also be incurred if the refund is made). Please be careful not to make a mistake in the beneficiary registration.
* Please notice that fees may be incurred on the receiving bank side separately.