How the PayForex international money transfer service works
We send money from Japan to a bank account overseasPayForex’s international money transfer service uses international bank to bank payment routes to send your funds to overseas bank accounts.
All transactions can be done onlineAll PayForex services are offered online, and requests for currency exchange and money transfers are accepted online 24 hours a day. You can perform transactions from anywhere as long as you have a PC with Internet access.
Start with “Account Open”To use the services, you must first open a PayForex account. For details, see “How to open an account“.
Remittance methods: “Speed Remittance” and “Standard Remittance”PayForex has 2 remittance methods: Speed Remittance and Standard Remittance. In particular, Speed Remittance has a very high speed of deposit and comparing to traditional overseas remittances deposit time is significantly reduced.
Speed RemittanceIn the case of “Speed Remittance” remittance currencies are only limited to local currencies、and remittance generally arrives within 24 hours after the transfer request is received（*）.
Countries and regions which support Speed Remittance
China, Hong Kong, South Korea, Malaysia, Nepal, Vietnam, Thailand, Philippines, Pakistan, Bangladesh, Indonesia, Myanmar, Euro Area, United Kingdom, Australia, Singapore, India, Turkey, Sri Lanka, Cambodia (As of October 2020）
* Arrival of remitted funds is expected within 24 hours, except weekends, holidays and local bank holidays.
We can remit money to over 200 countries / regions. Usually, it takes remitted funds about 1-3 business days to arrive.
List of Currencies
The currency list below represents the currencies we cover to remit, as of January 2021.（* mark refers to Speed Remittance currency）In addition, the remittance currency may be limited depending on the remittance country / region and remittance method (Speed Remittance / Standard Remittance). Please check the “PayForex – Remittance Available Currency List ” for details.
|North America / Latin America|
|Middle East / Africa|
Conditions and limitations
|To open an account|
|Account types||Individual・Corporate||Accounts can be opened under an individual’s name or a corporation’s name.|
|Initial setup fee (enrollment fee)||Free|
|Account maintenance fee (annual fee)||Free|
|ASP services for corporations||Please inquire||For corporations looking to reduce money transfer workload due to numerous transfers and/or destinations. We will prepare a proposal for contracted money transfer services. For details, see “Information on corporate alliance“.|
|Standard maximum transfer limits|
|Maximum amount for a single transfer||¥1 million (or equivalent amount in foreign currency)||
|Maximum monthly transfer amount||Standard individual: ¥3 million Corporation or sole proprietor: ¥6 million (or equivalent amount in foreign currency)|
|Money transfer fees|
|Transfer fee||¥0 – ¥2,780 (Varies depending on transfer amount and currency)||For details, see “List of transfer fees” and “About fees“.|
|Intermediary bank fee||Borne by beneficiary／sender||If borne by beneficiary: deducted from transferred amount If borne by sender:use the Pay Other Bank Charges service|
|Intermediary bank fee||Borne by beneficiary／sender|
|Pay Other Bank Charges||¥2,500||For a flat fee, PayForex bears all other bank charges so they are not deducted from the transfer amount. For details, see “The Pay Other Bank Charges service“.|
|Rate display||Every 15 minutes|
|Exchange rate||See international money transfer simulator||The simulator will show the actual exchange rate.|
|Days to transfer money||Generally 1 – 3 business days||Within 24 hours for Speed Remittance|
|Deposit receipt confirmation time||Generally within 24 hours (on business days)|
|Days to withdraw money||Generally 2 business days|
|Money transfer hours||Requests accepted online 24 hours a day|
|Currency exchange hours||Requests accepted online 24 hours a day|
|Telephone support hours||Weekdays 10:00 – 15:00 (Closed on weekends, holidays and New Year)|