Interest Rates

You may have heard that Japanese interest rates are extremely low. It is true so it is probably worthwhile to send money home rather than leaving it in your account here and hoping for interest to accrue.

Transferring Money to foreign accounts

There is some advice I would like to offer here. If you are intending to make regular money transfers to your bank in your own country then shop around for the best deal. Most banks here charge outrageous handling fees. One bank recently charged me 4000 yen!

Usually I use Go Lloyds service for sending money back home. They charge a flat fee of 2000 yen and just as important they have English speaking staff. Go Lloyds web site is updated daily at 10am Japan time with the current exchange rates.
www.golloyds.com/en/today/index.php

Lately banks here have been merging and things have become more competitive but interest rates have been low for a long time. Also internet banking is becoming popular and more and more convenience stores have cash dispensing machines located in their stores.