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The important points on transfer

Depending on countries, regions, and banks, there are some important points on transfer, which should be confirmed especially when the transfer is made for the first time.

1. Before remittance

(1) Getting deposits from account with different name is prohibited

When depositing funds by bank transfer, be sure to transfer using the same name as your PayForex account. If the transfer procedure is carried out under a different name, deposit processing to myPay will not be performed. Please be aware that you will be required to perform the reassembly procedure for refund.

(2) It is possible to reflect deposit on myPay in real time

If you deposit by “Convenience store“, “Pay-easy ATM” or “Speed deposit“, funds will be reflected to myPay in real time. For details, please refer to “Transaction process – Step1. Deposit”.
* In the case of bank transfer, deposit will be processed within the operating hours of PayForex in principle (weekdays 9:30 to 17:30). It’s also possible for the fund to be reflected on myPay on the next business day.

(3) Remittance procedure can be completed by “Speed deposit” even with no balance.

If you want to send money immediately or send money at the current exchange rate, please use “Speed deposit”. Select “Pay from bank account (Speed Deposit)” in “Payment methods” on the remittance screen, and if the payment procedure is confirmed at the financial institution you are using, the remittance procedure will be completed without leaving any balance in myPay balance.

(4) Please register beneficiary and beneficiary bank account information.

If you register beneficiary and beneficiary’s account information in advance, you can transfer money faster. Please register from “myPay” – “Beneficiary”. For details, please refer to “Transaction process – Step 2. Register a beneficiary bank account”.

(5) About the exchange rate to foreign currency

PayForex “Exchange rates” are updated every 15 minutes during 24 hours. In addition, as a general rule, we provide day time exchange rate during business hours (weekday 9:30-17:30), but please be aware that night-time and holiday rates are tends to be higher comparing with day time exchange rate.

2. For remittance

(1) Remittance cannot be made to Russia, Iran, North Korea, Sudan, Cuba and Syria.

*Even if the transfer is accepted by myPay, it will be cancelled.

(2) Cases where small amount is not accepted

When you transfer money via “remittance”-“Other countries”, we may not be able to accept a remittance with an amount of less than 5,000 yen. The same applies to USD ($50) and EUR (€50). There is a possibility that intermediary bank or the beneficiary bank will charge a fee higher than the remittance amount and the shortage may be charged. So please remit more than these amounts, or use “Pay Other Bank Charges service“.

(3) Please prepare documents that can prove the purpose of the remittance

We may ask our customers to submit documents that can objectively prove the purpose of the remittance, before or after the remittance request, to prevent money laundering, terrorist financing and other crimes. Please be aware in advance that we may cancel the remittance instruction received if we won’t get these documents or if we can’t confirm the purpose of the remittance clearly from the submitted documents.

*Certificates to be submitted : Invoice, contract, quotation, import approval notification, and e-mail / chat history with the beneficiary which specifies the details of the remittance, etc.

(4) About countries and banks that can’t use “Pay Other Bank Charges” service

Please be aware that for some countries/regions and banks, Pay Other Bank Charges service will not be applied. Please kindly refer to “The cases that Pay Other Bank Charges service cannot be applied” for details.

(5) About countries and regions where JPY cannot be sent

JPY cannot be specified as the remittance currency for New Zealand or “Countries and regions which support Speed Remittance”. Please remit in local currency or foreign currency such as USD.

(6) In case of sending message to beneficiary

If you need to add invoice or reference numbers to the remittance information, please enter the information on the remittance page by clicking on the blue text “Optional information to Beneficiary input”. Also, if you enter the beneficiary e-mail address, an English-language e-mail will be delivered automatically notifying beneficiary that we have sent the money based on your request. An image file of the Wire Advice Report (in Japanese-English parallel writing) is attached, so please utilize it.

The important points for specific countries and regions

Recipients The important points
Europe, the Middle East, etc. As beneficiary information, the registration for IBAN code is necessary. Please refer to “the list of countries which adopt IBAN”.
China Please use “CNY remittance 2.0” for remittance to individual account. Please remit in foreign currency such as USD for remittance to corporate account.Please check “China Remittance” for details.
Vietnam Speed remittance by VND is limited to transfer between individuals only. Please remit in USD for other remittances.Please check “Vietnam Remittance” for details.
Malaysia Remittance currency is limited to local currency for Malaysia (MYR).Please check “Malaysia Remittance” for details.
Nepal Remittance currency is limited to local currency for Nepal (NPR).Please check “NPR” for details.
Mexico
  • When remitting Mexican peso (MXN), it is necessary to use “Pay Other Bank Charges” service.
  • Registration of 18 digit CLABE code (CLABE Account Number) is required.
  • Please check “Mexico Remittance” for details.
    Jordan In addition to the ordinary account information, the presentation of purpose code (in 4 digits) is necessary. Please confirm with the beneficiary and contact our support desk.

    3. After remittance

    (1) If funds remain after remittance, or if scheduled remittance is lost after deposit

    If you have a small amount of money or expect to remit about a month ahead, there is no problem holding it as myPay balance.

    (2) Remittance will be refunded or put on hold

    Even though remittance is completed, you will need to pay an administrative fee of 4,000 yen if for some reason you receive a refund or if the beneficiary bank asks you to correct the remittance information. ※ It will be deducted from myPay account balance.