Seven Bank Japan money transfer service – The complete overview

January 9th, 2012By Category: Banking/Investments

The fastest and most convenient way to send money out of Japan to your own country is by using Seven Bank’s overseas money transfer service.

By using the Internet/mobile banking network, you can send money anytime 24 hours a day from Seven Bank ATMs at about 16,000 locations nationwide. Under an  agreement with Western Union, recipients are able to collect money at more than 400,000 locations in about 200 countries. Users can send 10,000 yen for only 990 yen and 50,000 yen for only 1,500 yen, with no payment due on the receiving end. Receivers do not need to open a bank account.

So far, the main users are Filipinos, followed by Chinese and Japanese. Right now, users can see only two languages on the ATMs — English and Japanese – but Seven Bank officials say that in future, they will consider adding Chinese, Tagalog, Portuguese and Spanish. The explanation for registration procedures on Seven Bank’s home page is in 10 languages.

Seven Bank President Kensuke Futagoishi says that the feedback from those sending money so far has been positive. To market the service, Seven Bank is doing a lot of Internet advertising and has put up posters in Seven Eleven stores, featuring high-profile personalities such as Ousmane Sankhon, a former diplomat at the Republic of Guinea Embassy in Tokyo, well-known Filipino entrepreneur Mari Nihei, who has been in Japan since 1979, and Japanese-Brazilian model and talent Jade Furuta.

You’ll also find Seven Bank booths at various ethnic events and festivals to encourage people to sign up.


How to use the service

First, you need to register at Seven Bank online or contact the call center to request the forms via mail. Once you have proven your ID, registered the people you wish to transfer money to and sent the forms back, everything will be set up again, without charge. It takes 1-2 weeks to receive a cash card.

 How to send money

After you receive a Seven Bank cash card, you can use it at ATMs in Seven Eleven conveniences stores. After you have entered your PIN, simply choose the name of the person you wish to send the funds to, enter the amount and everything else will be handled automatically. You will need to send the 10-digit security number separately to the recipient. It is that number that they use to claim the money at their nearest Western Union outlet.

The general feedback from users is that the service is simple and very handy. It is especially a big help to the Filipino community. There are more coming to Japan to work as caregivers, nurses, in the construction and maritime industries. They can earn much more here than back in the Philippines. Most of the Filipinos send money back home once or twice a month.

The simplicity of the procedure is another welcome point. When you think of going to a bank to transfer money, you imagine it will be complicated with all sorts of forms to fill out and then you have to wait a long time. Or you worry about how much they are going to charge when you send money. Seven Bank’s service removes those concerns. You can complete your transaction in less than a minute.

At some Seven Bank branch offices, the friendly attendants can speak English and are happy to help you with the registration procedure. You simply give the Seven Bank attendant the relevant information and it will be typed in for you. Then at the end, all you need do is sign the form.

For more information on Seven Bank’s money transfer service, visit www.sevenbank.co.jp/soukin/en/

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GaijinPot

GaijinPot is an online community for foreigners living in Japan, providing information on everything you need to know about enjoying life here, from finding a job and accommodation to having fun.

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