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Find the best way to send money to Japan

Learn how to send money to Japan from Canada in our step-by-step guide.

Looking for the best way to send money from Canada to family, friends or businesses in Japan (or even to your own overseas bank account)?

Don't head straight to your Canadian bank – compare specialist money transfer services instead. They nearly always offer better JPY exchange rates and lower fees, so for the same amount of Canadian dollars you send, your recipient will receive more yens.

Of the companies we've compared, Remitly is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Remitly can get money to your recipient in Japan within minutes.

Best ways to send money to Japan from Canada

The best way to send money to Japan depends on your payment method, how you want your money to be received and how fast you need it to arrive.
  • Online money transfer provider. When buying Canadian dollars or yens , money transfer specialists typically offer better rates and cheaper fees than a local bank.
  • Bank transfer. Bank transfers are an easy way to send money to Japan, but they charge extra for the convenience and are often slower than other methods.
  • Cash pickup. If you need your money to arrive fast, cash pickup gives your recipient instant access to the money you've sent when they collect it from their agent location in Japan.
  • Mobile wallet. Essentially an electronic wallet service, mobile wallets allow users to store, send and receive eligible currencies using their phone, often with fees attached.
  • Home delivery. If your recipient may struggle to get to a cash pickup location, you may be able to opt for door-to-door cash delivery.

Compare the best money transfer companies to send money to Japan

Use our table to compare the best money transfer companies to send money to Japan. You can compare deposit and receiving options, fees and transfer speeds, then click the "Go to site" button when you've found the best one to get your money to Japan.
1 - 7 of 7
Name Product Offer Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer)
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
OFX
Finder Award
OFX
24 hours
$0
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 50+ currencies.
Remitly
Finder Award
Remitly
Within minutes
From $0
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Wise (TransferWise)
24 hours
From 0.43%
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
MoneyGram
Finder Award
MoneyGram
Within minutes
From $4.99
For a limited time, get $0 fees on your first money transfer from Canada. Conditions apply.
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Loop
Within an hour
$0
Loop has 1 day transfers and low FX rates.
Xe Money Transfers
Within minutes
$0
Xe has fast transfers with low fees and a range of foreign currency tools.
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Cheapest way to send money to Japan

Bank transfers are typically the cheapest way to get your money to Japan. Remitly and Xe Money Transfers have some of the lowest bank transfer fees of the brands we've compared.

When you're hunting down the cheapest ways to send money to Japan, it's more important to look at the overall cost of your transfer. This has a couple of elements:

  • Transfer fees. While still cheaper than your Canadian bank, some money transfer services charge either a fixed or percentage-based fee for making your transfer.
  • Exchange rates. Another way money transfer providers make money is to add a margin to the mid-market CAD/JPY exchange rate.

Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many yens your recipient will end up with.

Fastest way to send money to Japan

Many online providers can offer transfers to Japan within minutes, although you're likely to pay a premium for the convenience.

Here are some of the fastest average transfer speeds to Japan:
  • Remitly — within minutes
  • MoneyGram — within minutes
  • Xe Money Transfers — within minutes

Actual transfer times from Canada to Japan can depend on several several factors including transfer amount, payment method and currency.

Safest way to send money to Japan

The safest way to get your money to Japan is to use a provider registered with Canada's industry regulator, the Financial Consumer Agency of Canada. All the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Canada and Japan.

A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.

Large money transfers to Japan

If you need to make a sizable money transfer to Japan, consider using a provider such as OFX or Xe Money Transfers to benefit from its expertise in handling larger transfer amounts.

Using a large transfer specialist can have the following advantages:
  • Tax guidance. Large transfers to Japan may have tax implications for you or your recipient. A transfer specialist can help get you up to speed on the CRA's latest advice.
  • Foreign exchange (forex) tools. Advanced tools such as forward contracts, limit orders and stop-loss orders can help you lock in the JPY exchange rate you want.
  • Account manager. Some money transfer providers assign a personal account manager who can help and advise you on your transfer needs.
  • Phone service. If you want to talk your transfer through with someone, providers such as OFX and Wise (TransferWise) can give you support over the phone.

How to send money to Japan from Canada

To send money to Japan, you'll need the necessary documentation, your recipient's details and a way to pay.

  1. Compare your options.
    Use our table to find a money transfer provider that sends funds to Japan. One may be better for cash pickups, while another may suit a bank transfer. Once you've found the best one for your requirements, click "Go to site".
  2. Create an account.
    You'll need to give your name, address, contact details, proof of ID and method of payment.
  3. Provide your recipient's details.
    Enter your recipient's name and contact information. If you're sending straight to their Japanese bank account, you'll need the account number, SWIFT or IBAN plus their bank branch's address.
  4. Enter your transfer amount.
    Make sure you're happy with the fees, exchange rates and transfer speed, then enter the amount you wish to send. Double-check the total yens your recipient gets.
  5. Complete your transfer.
    Send your money transfer to Japan. Keep your transaction reference number safe so you can track your transfer. Your recipient may need it, too.

Example: Sakura sends money to Japan

Sakura is working in Canada as a digital marketer and she regularly contacts his elderly parents back home in Japan. Her parents need some funds to help pay off a mortgage, so Sakura plans to send them $2,000 from Canada.

She decides to compare a bank and a money transfer specialist to see which one can save the most money on her transaction.

Bank Money transfer company
Exchange rate 1 CAD = 114.81 JPY 1 CAD = 116.33 JPY
Transfer fee $10 $2.50
Transfer method Bank account deposit Bank account deposit
Processing time 2 - 5 working days Next day
Amount received 228,464.36 JPY 232,361.28 JPY

The money transfer company enables Sakura to send an extra \u00a53,896.92, which is transferred straight to her parents' MUFG Bank account.

How to choose the best money transfer companies to send money to Japan

When choosing a money transfer provider to send money from Canada to Japan, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:

  • Exchange rates. Banks and transfer services use the mid-market rate to trade with one another. It is the best rate you can get. However, not all money transfer providers offer you this mid-market rate so compare the JPY you're offered to the mid-market rate and look for the smallest difference.
  • Transfer fees. Are you being charged a flat fee or a percentage of your transfer amount? For example, a provider offering to transfer your money to Japan for a flat or low fee might work out better if you plan to send a large amount.
  • Transfer type. Does your recipient have a Japanese bank account or is cash or cell phone top-up a better option? Each transfer type has different fees. For example, instant cash pickups tend to be more expensive than bank transfers .
  • Transfer speed. If you need your transfer to arrive quickly, you can pay for an express delivery. Companies such as MoneyGram offer instant cash pickups but may charge more. If you're not in a rush, online money transfer services offer the best value and get your money to Japan faster and cheaper than banks.
  • Transfer limits. Find out how much you can send with each service. For example, MoneyGram has a transfer limit of $990 while Xe Money Transfers allows transfers up to $750,000 online (no max offline) .
  • Discounts. Some providers may offer you a free transfer simply for signing up. Others may offer a discount if you transfer more than a specific amount of yens.

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