Complete Wise Guide for Foreigners in Japan【From Verification to First Transfer】

① What is Wise? — One of the World's Cheapest Remittance Services

Wise (formerly TransferWise) is a UK-born international money transfer service. It uses the mid-market exchange rate (the real market rate), making it far cheaper than banks. Over 16 million users; supports currencies of 80+ countries.

Fee comparison for sending ¥100,000 (JPY→CNY reference): Wise ~¥650–1,200 / SBI Remit free–¥748 (with rate spread) / megabank ~¥2,500–5,000 + rate spread.

② Sign-up & Verification Steps (Residence Card OK)

1. Install the official Wise app from the App Store/Google Play (free)
2. Register with your email; choose "personal account"
3. Submit ID: your residence card (both sides) alone is enough!
4. Wait for review (about 1–3 business days)
5. Done → start sending money

③ How to Send Money (e.g., JPY to CNY)

1. Tap "Send" on the app home screen; enter the amount and target currency
2. Review the fee and the exact amount the recipient gets (shown in real time)
3. Enter recipient details (name, bank, account number, SWIFT/BIC)
4. Fund the transfer: bank transfer (most reliable) / convenience store / debit card
5. Done → arrives within hours to 1 business day; track in the app

④ Fees & Exchange Rate Mechanics

Wise charges "a percentage of the amount (0.4–1.5%) + a fixed fee." The exchange rate is the mid-market rate (what Google shows). JPY→CNY ~0.5–0.7%, JPY→VND ~0.5–0.9%, JPY→USD ~0.4–0.6%. Check the official simulator for exact costs.

⑤ FAQ

A. Yes — your residence card (both sides) completes verification. No passport needed. Make sure the card hasn't expired.

A. Roughly up to ¥1 million (or equivalent) per transfer. Limits vary by verification level; larger transfers may require extra documents.

A. No. Anyone with an overseas bank account can receive.