【2026】International Remittance Compared: Wise vs SBI Remit vs Bank Transfer
※This article contains promotion.
📋 Contents
- With a residence card, you can use online services like Wise and SBI Remit (initial verification may take a few days).
- For small to mid-size amounts, Wise tends to offer lower total cost; SBI Remit is handy for direct deposits to bank accounts in China or Vietnam.
- Transfers over ¥1 million per transaction require a 「Report of Overseas Remittances」.
Wondering which way to send money abroad from Japan costs less? Compare Wise, SBI Remit and bank transfers by fees, exchange rate and speed — with picks by purpose and by destination (China, Vietnam and more). Includes online services you can use with just a residence card.
- With a residence card, you can use online services like Wise and SBI Remit (initial identity verification may take a few days).
- For small to mid-size amounts, Wise tends to offer lower total cost; SBI Remit is convenient for direct deposits to bank accounts in China or Vietnam.
- Bank wires cost around ¥2,500–5,000 plus rate spread — expensive, but appropriate for large or formal transfers where documentation matters.
- Overseas remittances exceeding ¥1 million per transaction require the financial institution to file a 「Report of Overseas Remittances」 with the tax office (you may be asked to present identity documents).
To send money abroad, you need a Japanese bank account to send from. If you don't have one yet, also see our guide to opening a bank account as a foreigner.
① Major Remittance Services Compared
| Service | Fee (approx.) | Exchange rate | Speed | Countries |
|---|---|---|---|---|
| Wise (low-cost) | 0.4–1.5% | Mid-market (real market rate) | Hours–1 day | 80+ |
| SBI Remit | Free–¥748 | Bank rate (slightly worse) | Same day–1 day | 200+ |
| Bank wire (megabanks) | ¥2,500–5,000 | TTS rate (worst) | 2–5 business days | 200+ |
| Japan Post Bank | ¥2,500~ | TTB rate | 3–5 business days | 120+ |
※Fees and rates are indicative and vary by amount, destination, and timing. Check official sites for the latest. Note: links such as the Wise referral buttons on this page contain affiliate advertising (PR).
We don't rank services by whether they advertise with us. We compare them objectively using the following criteria for real-world usability by foreign residents.
- Total cost (fee + exchange-rate spread)
- Transfer speed
- Whether a residence card works and how easy verification is
- Countries supported (China, Vietnam, etc.)
- App usability and Japanese-language support
② Wise — Helps Keep Fees Down for Small to Mid-size Transfers
PR Contains affiliate advertising. Received amount, exchange rate, and profit are not guaranteed.
- Want to cut transfer fees
- Want to complete everything online
- Sending a small to mid-size amount
*Sign-up is free; residence card accepted for verification. Check each official site for the latest fees and exchange rates.
Why Wise tends to be lower-cost: Banks and other services add an exchange-rate margin, while Wise uses the interbank mid-market rate as-is and charges only a transparent fee. Sending ¥100,000 can be thousands of yen cheaper than a bank in many cases. Verify with your residence card; no minimum amount (from ¥1).
③ SBI Remit — Handy for Direct Deposits to China & Vietnam
SBI Remit specializes in direct deposits to bank accounts in China, Vietnam, the Philippines, Indonesia, Thailand, Nepal, Brazil and more, with low fees (free–¥748). Recipients can also pick up cash via MoneyGram. Its rate can be slightly worse than Wise — compare both for larger amounts.
④ Bank Wires & Japan Post — For Large or Formal Transfers
Bank wires are costly (around ¥2,500–5,000 plus rate spread) but suit payments to large companies or formal transfers needing strong audit trails. For small personal remittances, Wise or SBI Remit is strongly recommended.
⑤ Recommended Method by Country
- 🇨🇳 China: 1st Wise (to bank account) / 2nd SBI Remit. Over ¥1M per transfer requires a 「Report of Overseas Remittances」
- 🇻🇳 Vietnam: 1st Wise / 2nd SBI Remit (VietcomBank etc.)
- 🇵🇭 Philippines: Wise / SBI Remit (BDO, BPI). Cash pickup via MoneyGram available
- 🇰🇷 Korea: Wise (low fees, mid-market rate). Requires the 24-digit Korean account number
- 🌏 Other countries: Check Wise first; if unsupported, use SBI Remit's 200-country network
FAQ
A. Both Wise and SBI Remit accept identity verification via residence card (SBI Remit may also require My Number or a passport). Initial verification can take a few days.
A. For small to mid-size amounts, Wise generally offers lower total cost (fee + rate). SBI Remit can be more convenient for direct deposits to bank accounts in China or Vietnam. Compare both services before each transfer, as it varies by amount, destination, and timing.
A. For both China and Vietnam, Wise is the first choice and SBI Remit (which supports local banks) is the second. You will need the recipient's bank account number.
A. Transfers over ¥1 million require the financial institution to file a 「Report of Overseas Remittances」 with the tax office (information reporting, not taxation; ID may be requested). The 「Payment Report」 to the Minister of Finance via the Bank of Japan under the Foreign Exchange Act applies only above ¥30 million.
A. Bank wires cost around ¥2,500–5,000 plus TTS rate spread and are expensive, but reliable and useful for large or formal transfers. For small personal remittances, Wise or SBI Remit keep costs much lower.
Sending to a specific country? Compare the services and fees suited to that country in our Japan→China remittance and Japan→Vietnam remittance guides. If you send money to support family abroad and meet the conditions, you may qualify for the overseas dependent deduction.
Alongside overseas remittance, cashless payments like PayPay are convenient for spending within Japan. See the PayPay guide.
⑥ Sources & References
- National Tax Agency "Report of Overseas Remittances System" — ↗
- Ministry of Finance "Foreign Exchange and Foreign Trade Act (FX policy)" — ↗
- Financial Services Agency "List of Licensed/Registered Operators (Funds Transfer Service Providers)" — ↗
- Bank of Japan ‘Report Concerning Payments or Receipt of Payments’ (FX Act, over ¥30M) — ↗
Are you losing money on transfer fees and exchange rates without realizing it? Wise (multi-currency transfers) has a clear fee structure and can sometimes send at near the real exchange rate.
- Want to lower transfer fees
- Want it done online
- Sending a small to mid-size amount
*Free to sign up. Residence card accepted for verification. Check the official site for the latest fees and rates.
* Fees, rates and supported countries change; check the official sites. Availability may depend on residence status/verification.