Money Transfer From Japan to India in 2023 – 6 Options Compared

Send Money From Japan to IndiaHow to transfer money from Japan to India

Japan doesn’t have many options to send money to India as compared to other countries like US or UK. Money Transfer From Japan to India

RBI Rules On Money Transfer

RBI’s Liberalized Remittance Scheme (also known as LRS) allows resident individuals (Indian nationals and expatriates) to remit foreign exchange of a maximum of US$250,000 (or equivalent) per Indian financial year. Resident individuals can usually send foreign exchange overseas for one of the following purposes:

  • Overseas education expenses
  • Employment
  • Medical treatment
  • Care for a close relative
  • Emigration fees
  • Visa fees
  • International visits for private purposes

The individual needs to hold an appropriate account at an RBI authorised dealer, generally a bank having international branches. He or she needs to designate a specific branch of the particular bank, using which he or she will be making all foreign exchange remittances under the LRS. The individual can also make overseas remittances through an entity which is not a bank (but has appropriate permission from the RBI to deal in foreign exchange), but the remittance has to be funded from a bank.

Earlier, it was not necessary to produce PAN card for money transfer transactions abroad up to USD 25,000 or its equivalent. However, in April 2018, this rule was amended. Now, it is mandatory to produce the PAN card for all remittance transactions from India to Abroad regardless of the amount being transferred. This is to ensure that a resident individual is being compliant to the LRS limit of USD 2,50,000 in a single financial year.

What Are The Options for Sending Money From Japan to India

There are many ways you can use to send money from abroad to India or otherwise. These are

  • Demand Draft
  • Transfer Via International Beneficiary
  • Transfer Using Forex Card
  • Using Online Remit Service from Banks
  • Online Remittance companies

Now, let me tell that sending money using a Demand Draft or International Beneficiary is not a good option. As it may takes longer time and due to elevated exchange rate, you will end up loosing a good amount of money.

Transferring using Forex card can be a better option as if you opt for a Forex card then you do not have to pay for the cross-currency fees which banks usually charges if the transfer is via a debit card or credit card. You can load your forex card in the currency you want to send and then transact the same currency. But again, the loading and reloading of forex card can have additional charges and also the exchange rate of Forex card will be little expensive then the other two options.

In recent years, several banks have started the online remittance services. The process is not that lengthy as 2–3 years earlier, but again the problem is with the bad exchange rate. If you opt for a bank to transfer the money you may need to open a bank account, visit the bank to do this transfer.

The last option using the online remittance companies is the best option. The entire process is online and you will see that the exchange rate is much better than banks. As the market has become competitive, there are fierce competition among them which has resulted in a good exchange rate. Sometimes the exchange rate is almost the same as the real exchange rate you would find in Google or Xe.

What To Look Out For While Transferring Money (Japan to India)

There can be many reasons for you to transfer money from the UK to India – living expenses, college fees, business purposes. So depending on your requirements, you shall also look out for the below criteria when using an online remittance

  1. Reliability – How reliable is the money transfer service, you are choosing?
  2. Speed – How soon do you need it to get there? You may end up paying more if speed is a priority.
  3. Exchange rate – Are you getting the best rate or are you paying more for convenience or speed?
  4. Hidden Fees – Are you paying more than you should? Sending money using a debit or credit card may have fees attached.
  5. Convenience – How easy was the experience from start to finish? Could you do it online or did you have to go to a location to complete the transfer? Is there an app that makes it even easier?
  6. Tracking – Are you be able to track the process online? Or you need to call the customer care or visit the branch

Sending Money Then Vs Now

Sending money internationally was a daunting task earlier. It used to take multiple visits to banks, waiting for hours, arranging documents and then after everything is fine, it would take 3–4 days for the money to be sent. But thankfully, this is not the case anymore, now this process has become convenient and affordable and you can complete the process in 2–3 minutes, without comprising the security.

Banks had been one of the most reliable ways to send money. But there are many disadvantages to choosing banks

  • inflated exchange rate
  • takes longer to process
  • high fees – while sending and/or receiving
  • requires more documentation

Because of these issues, people have now shifted to online remittance companies. There are now plenty of online companies that offer very attractive exchange rates and joining offers.

Process For International Money Transfer – Japan to India

The money transfer process in online remittance companies is quite simple and mostly follows these steps

  • Create an account (Email, PAN card, and Passport may be required)
  • Provide bank information of the receiver
  • Transfer the amount using bank transfer/credit card/debit card

Let me now tell you what are the best options available if you want to send Japanese (Yen) to Indian (INR)

How to send money from Japan to India

These are the five best options if you want to send money from Japan to India.

1 .Wise (Avail Zero Transfer Fee Here)

Wise is an online money transfer service, which lets you transfer money up to eight times more cheaply than with a bank. It is one of the most popular apps/sites and has the highest customer satisfaction ratings on Google play and Trustpilot. Wise was founded in 2010 by two financial gurus and its system is beautifully simple. It bypasses pricey international payments entirely by using two local transfers instead of one international transaction.

Is Wise Reliable?


Trustpilot Score

Transferwise TrustPilot


Google Play Ratings

It is also one of the fastest growing online remittance companies (more than 12 million customers) having more than 50% over last few years. You would see that their profit has not increased as much as their revenue. This is because the company is expanding and growing its customer base, and another most important thing is its attractive exchange rate and low transfer fees as compared to its peers.

How Wise Works?

Wise works in three different steps (in this case, India to UK transfer)

      • You send money from your Indian bank to their Indian bank
      • Wise transfers money from their Indian bank to their UK bank
      • Wise sends money from their UK bank to your UK bank

For safety purposes, Wise might ask to verify your address when you use Wise. They are a financial institution and it helps them combat money laundering, and keep everyone’s money safe.

Now let me show you where does Wise stand when you compared it with other options for sending money from India to the UK. There is a current offer going on Wise for relaxation on Transfer Fee. So you can avail of this offer by following the link I shared above. Using this you would see no transfer fee is charged on the low transfer amount and the reduced transfer fee at a large amount.

How much can I send?

You can send up to 1.5 million GBP per transfer to a private individual. You can send up to 15 lakhs per day to businesses. However, the minimum amount is 20,000 INR.

How long does it usually take for the money to arrive?

Once Wise receives and converts your money, it usually takes 1 working day to arrive in your recipient’s bank account. Conversion can take up to 2 working days. The first transfer can take longer time but the successive transfer is usually quicker.


  • Cheap because of the real-time middle-market exchange rates.
  • Convenient (online or in-app), no visit to the branch required
  • The minimum payment amount is £2 (or the equivalent in other currencies).
  • The maximum payment amount is £1 million.
  • Lock-in rate available for 24-72 hours
  • Highest customer rating on all platforms – Google Play, TrustPilot, Monito, etc.


  • The first transfer can take 2-3 business days
  • A large amount of money may require to verify the address.
  • A credit card may not always be approved
  • Not all countries are included, for example – India-China, Israel-India, etc.
  • No flexibility on margins for larger transfers.

2. XendPay

Xend Pay Money TransferXendpay is now potentially the first genuinely no fees international money transfer service to bank accounts, offering you the best exchange rates usually only available to multinational corporations, without compromising on transfer times or reliability. This represents a significant challenge to the traditionally high charge practice within the global remittance industry and is a unique offer to individuals seeking to send money overseas.


3. WesternUnion

Western Union Japan

Western Union transfer $80 billion annually, making an average of 31 safe, secure transfers per second. Smart money transfers from your phone for a flat fee of 390 JPY.

Google Play : 4.0 Star (1148 ratings) – Japan


  • Low minimum transfer amount of $1.00
  • Option to send money in minutes
  • Transfer to a wide range of countries


  • Not the cheapest option depending on transfer location
  • You may need to visit the nearest branch

4. WorldRemit


More than 4,000,000 customers use our money transfer service and many of them choose to do so on our app – a faster and more convenient way to send money worldwide. We offer low fees and guaranteed exchange rates in any case, and to get started, you can now use the code 3FREE and save the fees in your first three money transfers abroad.

Google Play : 4.5 Star (49,144 ratings)


  • Easy to Use
  • Reasonable Fees
  • Excellent Customer Reviews
  • Worldwide network


  • Fees are not clear enough
  • Cash is not accepted
  • Government-issued ID required
  • d to open an account you need to be staying for more than 6 months.

5. SBI Bank, Japan

Send Money Japan to India - SBI

Strategic Business Innovator Group, (TYO: 8473) is a financial services company group based in Tokyo, Japan. 

Tokyo : State Bank of India Tokyo branch, 1-3-13 Nihonbashi, 中央区 Chuo City, Tokyo 103-0027, Japan

Osaka: State Bank of India (SBI), Osaka Branch, 1 Chome-8-15 Azuchimachi, Chuo Ward, Osaka, 541-0052, Japan

You need to visit the branch to transfer the money. You cant do it online.


  • There are only few branches all across Japan
  • You need to visit the branch and it takes longer time than online remittance services

6. GoRemit

GoRemit Japan

Bilingual assistance,170+ countries, Remittance made easy, Anywhere, anytime
Very bad Google play rating, still care to look – here it is


  • The remittance fee is JPY 2,000 per remittance and is not dependent on the amount you remit.
  • You need to apply in advance
  • You need a bank account to perform this an

Money Transfer From Japan to India – Cheapest Option


Condition 1: Sending 100,000 Yen

Now, let’s see if we want to send a higher amount i.e. 1,00,000 Yen. Then how the charges change.

Here we see a little shift from our previous table. Wise is now ranking after Western Union. But I would still advise going with Wise because if you are using Wise for the first time then uou’ve received a free transfer of up to 500 GBP (or equivalent in other currency).

Use this free link for 579 Yen discount

Condition 2: Sending Big Amount of Money (500,000 Yen)

Got more money to send :p Let’s see who ranks first here

If you are sending a very big amount then you shall consider visiting the Western Union Office next to you or the SBI Branch located in Tokyo. These are two beneficial options. If you do not have easy access to these two options and Wise is still there. At any cost avoid using GoRemit or WorldRemit. They give you a very bad rate.

Concluding remarks

If you want to send money up to 1,00,000 Yen then Wise is the best option available. But if you are sending a higher amount then you shall go for Western Union or Deposit in the nearest SBI branch. But if you are not located in Tokyo or Osaka, then these options will not be easily accessible to you. You shall also consider spending your precious time and money on traveling to these branches.

Worldremit is very quick and it sends your money in minutes, so if you want it very urgent then use this. There are many other options if you want to transfer it in USD such as Skrill, Xoom, Remitly etc.

You shall also consider talking to your bank if they any cheaper options. Most of the time bank transfers are 2-3 times more costly to these online-based platforms.

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