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Send money to Japan
Here's how to send a quick, affordable and secure money transfer to Japan.
Whether you’re a Japanese national living in Canada or a Canadian looking to travel, buy property or cover business expenses in Japan, there are plenty of money transfer services designed to help you send money to this tiny island nation. Use our handy guide to figure out how to transfer your funds from Canada to Japan in a safe, secure and affordable way.
WorldRemit International Money Transfers
WorldRemit can help you get your money where it needs to go in minutes, with upfront exchange rates and low fees.
Use promo code FINDERCA on your first transfer and pay zero fees. T&Cs apply.
- Transfers to 150+ countries
- Send to bank account, cash pickup, mobile money, airtime top up
- Pay with card, Interac or Apple/Android Pay
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
Many Canadians depend on their banks to carry out international money transfers, but it’s important to remember that there are plenty of online money transfer companies that offer lower fees and more competitive exchange rates.
- Banks. Banks can send international wire transfers all around the world, but they charge a hefty fee for the service (sometimes in the range of $80) alongside sub-par exchange rates.
- Money transfer company. Money transfer companies have developed many cost-cutting measures so that they can offer much lower fees (typically between $0 and $15) and stronger security platforms to ensure customers have access to a safe and affordable service.
Case study: Richard Sends Money to Japan
Richard’s sister Bianca works for a manufacturing agency in Japan and is turning 40 years old in less than a week. Richard knows that his sister has been longing to pay a visit back to Canada but is also saving money for her retirement. He decides to send Bianca $1,000 for her birthday to help her fly back home, but decides to compare his bank against a dedicated money transfer service to find the cheapest option. The comparison below is based on exchange rates in the spring of 2018, so check current rates before making your choice.
|Canadian bank||Money transfer company|
|Exchange rate||CAD$1 = JPY 82.20||CAD$1 = JPY 84.01|
|Transfer time||3–5 days||24 hours|
|Amount received (in LSL)||JPY 82,200||JPY 84,010|
Richard realizes that he will save JPY 1,810 (around $21) on exchange rates and $35 on fees if he sends the money to Bianca using the money transfer service over his bank.
It pays to do your homework when transferring money from Canada to Japan, especially if you plan on making regular transfers. Look closely at the following factors when comparing money transfer service providers to find the best deal.
- Competitive exchange rates. Exchange rates are often the biggest factor determining how much money you can save. Search for a rate as close as possible to the rate that comes up when you search “CAD to JPY exchange rates” on Google.
- Minimal fees. Many transfer companies will charge a fee for your money transfer to Japan, which will often vary depending on the method you use to transfer funds as well as the amount you send. The best way to make sure that you’re getting the best deal possible is to compare 3-4 services.
- Various transfer methods. Most companies will offer different options for transferring funds, including cash pickups, bank-to-bank transfers and even mobile wallet top-ups. Look for a service that will work for both you and your recipient.
- Fast transfer times. Certain money transfer services can get your money to your recipient in a matter of minutes while others take a couple of days. Make sure the provider you choose will work for your timeline.
- Reliable customer service. Some companies set the bar high when it comes to customer service, so make sure to settle on a service that will get your transfer to where it needs to be on time.
- Banks. Almost all Canadian banks which offer international money transfers will allow you to transfer funds to Japan. This includes the big five banks: RBC, CIBC, TD, BMO and ScotiaBank. Many banks also offer international money drafts which you can then send via snail mail.
- Cash transfer providers. Providers like WorldRemit and Western Union allow you to transfer cash to multiple agent locations across Japan within minutes.
- Online money transfer companies. Online transfer services like TorFX and TransferWise offer attractive exchange rates and minimal fees on international money transfers. Some of these services allow you to schedule regular transfers, forward contracts and limit orders.
If you find yourself in a situation where you need to send cash to a friend or loved one in a matter of minutes, you can book a cash transfer to Japan with a service like Western Union or MoneyGram. These companies can be incredibly helpful in case of an emergency, but they can also cost an arm and a leg. It pays to use a bank-to-bank transfer with an online money transfer company if you want to save money.
If you’re looking to head to Japan in the near future, the Government of Canada recommends that you exercise a normal degree of caution (as of 19 August 2018). While crime against foreigners is generally low, you should always exercise normal security precautions. Be particularly cautious in all entertainment and nightlife districts throughout Japan. If you need to collect cash, be sure to visit an agent location during daylight hours in the company of a trusted friend.
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