Currency Online versus PayPal

Following up on an earlier post on international money transfers to Japan, I’ve now decided on the best method to get money to Japan from the US. For transfers for more than 40,000 JPY, use Currency Online. If the amount is less than 40,000 JPY, you’re better off using PayPal. Currency Online would win out in all cases, except that they use an intermediate bank to get the funds from the Bank of New Zealand to any bank account in Japan. I asked COL if they had any accounts in Japan and they told me no. They said their Japanese customers always eat this fee. So no matter which bank you… Continue reading Currency Online versus PayPal

Costs for transfering money to Japan from the US with PayPal

For those of you who are interested in transferring money from the United States to Japan with PayPal… I would recommend against it because of super high fees Details of my transfer (July 2011): Amount to receive:     88,000 JPY Amount sent:           91,432 JPY (1,186 USD) Market exchange rate:  79.18 PayPal exchange rate:  77.04 Transaction Charge:When using PayPal across borders you will be charged 3.9% on transfers with a standard account. If you pump up the amount you send or do business with on a monthly basis you might be able to get a rate of 3.5% or so. Either way you’re going to be losing a LOT of money. You… Continue reading Costs for transfering money to Japan from the US with PayPal