Cheapest singapore bank to send money to japan bank account?

Sausage

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I was wondering if anyone had any experience with this? I want to send a small amount (18000y) to a bank account in Japan. How does it work?

Do we tell the bank that we want the destination account to have 18000y, or is there some other way to convert?

DBS looks like it has the cheapest rates, but what is a Tracer?


DBS cahrges
Cable/telex charges S$20
Handling Commission S$5 for debiting amount equal to or below S$5,000;
Agent Bank Charges Where applicable
Tracer S$20 per transaction
 

lapucelle

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do note that the account on the Japanese side has to have applied to receive foreign remittance. there is also a min amount for certain banks (30K).
 

jep

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By the way when u transfer thro' bank, pls factor in some admin charges.

Becos a KL fren remits money to me but I din get full amount. By right I must get S$xx as I help her buy some items. Dun know why her bank never inform her there r admin charges involved. In the end they deduct admin charges from my S$xx. Quite pissed off.

If u can, dun go thro' bank. Try using western union. The only troublesome part is the receiver must go to Japan branch western union to collect the money. But at least u know they won't deduct money for admin charges as they would hv total in already when u make the payment.
 
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Sausage

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what were your admin charges like
for dbs there is option to charge admin charge to you or to receipient
 

lillyelf

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While you can pay the sending charges on your side, the Japanese bank may take a huge chunk of cash as admin fees for receiving money.

The amount charged depends on the bank. SMBC (and most of the other big banks), for example, charges 1500 yen + 0.05% of the amount remitted (min 2500 yen). In other words, if you send 18000 yen, only 14000 yen will reach the other party's account.

Not sure about JP Post Bank, but what I heard is that JP Post can't receive overseas funds directly so they will go through an intermediary bank. You'll have to pay charges for that, but no idea how much that will be.
 

ZenMAKER

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Have you found a cheper way to send Then? I was thinking of Western Union but my fren in Miyazaki said Then nearest WU branch is in Fukuoka
But the agent also told her I could send via WU to her bank acount, except SingPost WU Service does not have that
 
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