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Service overview

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.

How the PayForex international money transfer service works

We send money from Japan to a bank account overseas

PayForex’s international money transfer service uses international bank to bank payment routes to send your funds to overseas bank accounts. money transfer image

All transactions can be done online

All 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 Remittance

In the case of “Speed Remittance” remittance currencies are only limited to local currencies（1*）、and remittance generally arrives within 24 hours after the transfer request is received（2*）.

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 (As of July 2019）

1* It is possible to send money in 9 currencies in addition to the local currency to Hong Kong.In addition to local currency, USD is also available for speed remittance to Singapore and Australia.
2* Arrival of remitted funds is expected within 24 hours, except weekends, holidays and local bank holidays.

Standard Remittance

We can remit money to over 200 countries / regions. Usually, it takes remitted funds about 1-3 business days to arrive.

List of Currencies

This is Remittance Available Currency List, as of July 2019.（* 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
USD	CAD
MXN
Europe
EUR*	GBP*
CHF	DKK
NOK	SEK
Asia
CNY*	HKD*
SGD*	MYR*
NPR*	VND*
THB*	PHP*
BDT*	PKR*
KRW*	IDR*
MMK*	INR*
LKR*
Oceania
AUD*	NZD
Middle East / Africa
TRY*	ZAR
Others
JPY

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)	If the monthly transfer amount exceeds ¥1 million, we may ask for a phone interview regarding the purpose of the transfers or ask to see invoices. If you would like to exceed the maximum monthly transfer limit, please contact us in advance. We will determine the amount that can be transferred based on a phone interview and submitted invoices, etc. Sole proprietors: please submit a copy of a sole proprietorship business registration form.
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 – ¥3,980 (Varies depending on transfer amount and currency)	For details, see “List of transfer fees” and “About fees“.
Lifting charge (Yen transfer fee)	Free
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“.
Exchange rates
Rate display	Every 15 minutes
Exchange rate	See international money transfer simulator	The simulator will show the actual exchange rate.
Business/support hours
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
Business/support hours	Weekdays 9:30 a.m. – 5:30 p.m. (closed weekends, holidays, year end, and New Year’s)