@patio11 Is there a cheap way for natural persons to make USD in a bank account into JPY in a bank account for the purpose of paying 6 months of rent to move into an apartment?
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My coworkers tell me that they somehow paid less than 1% for this (Transferwise charges ~1%), but I am not convinced that my US bank will offer me such a rate, and my Japan bank will literally charge me 1% just to change currencies, after I pay SWIFT fees and a worse rate
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Separately, it looks like Transferwise mandates that I engage in structuring-like behavior if I want to send myself 6 months of rent, so I'm enjoying the possibility of just having my money seized on that basis
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I've been informed that the correct play was to open a bank account at the other of the two banks that have English support and cater to US citizens, since it charges roughly 1/20 as much for this operation.
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Extremely interested as to what your ultimate solution was here, if you want to DM me. Best option generally AFAIK and plausibly not worth your time to save small $X00 is to open an Interactive Brokers account, buy yen with dollars, then wire the yen to account of your choice.
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