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Transferring money to the UK

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  • Transferring money to the UK

    I'm going to be transferring money to the UK fairly regularly over the next few months. I just made a transfer of 1000 pounds last week, but I got charged 4000 yen by shinsei bank, as well as a 12 pound fee from someone somewhere in the middle. This is pretty steep (nearing 6000 yen), so I'd like to find something a little cheaper. I used to do post office money orders back in the day to Canada, they were 1000 yen I think (or 2000?). Do they still offer this? Does anyone know how much they cost? Any other recommended methods?

    In this case, paypal isn't an option, or it's probably what I would use.

    Edit: I did look at Lloyds TSB, but it appears they charge 2000 yen, plus 0.1% at a minimum of 1500 yen - so their base charge is 3500 yen plus the intermediary fee. This is slightly better than Shinsei, but still a little too much in my books.

  • #2
    I post Traveler's cheques by registered mail along with a paying-in slip. Never failed. YMMV.

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    • #3
      Originally posted by Effected After View Post
      I'm going to be transferring money to the UK fairly regularly over the next few months. I just made a transfer of 1000 pounds last week, but I got charged 4000 yen by shinsei bank, as well as a 12 pound fee from someone somewhere in the middle. This is pretty steep (nearing 6000 yen), so I'd like to find something a little cheaper. I used to do post office money orders back in the day to Canada, they were 1000 yen I think (or 2000?). Do they still offer this? Does anyone know how much they cost? Any other recommended methods?

      In this case, paypal isn't an option, or it's probably what I would use.

      Edit: I did look at Lloyds TSB, but it appears they charge 2000 yen, plus 0.1% at a minimum of 1500 yen - so their base charge is 3500 yen plus the intermediary fee. This is slightly better than Shinsei, but still a little too much in my books.
      Not used Lloyds TSB for a few years, but they also provided a poor exchange rate on top of the charges and I definitely had to pay 12 pounds at the other end with them. Shinsei only charge 1 yen per pound on the exchange rate, less if you are a Gold or Platinum Customer.
      Last edited by cucashopboy; 2012-04-24, 01:08 PM.

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      • #4
        Originally posted by veracotti View Post
        I post Traveler's cheques by registered mail along with a paying-in slip. Never failed. YMMV.
        What is a paying-in slip, and what does YMMV mean?

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        • #5
          Originally posted by cucashopboy View Post
          Not used Lloyds TSB for a few years, but they also provided a poor exchange rate on top of the charges and I definitely had to pay 12 pounds at the other end with them. Shinsei only charge 1 yen per pound on the exchange rate, less if you are a Gold or Platinum Customer.
          I never really thought about the actual rate itself, that's a good thing to consider.

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          • #6
            No one else?

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            • #7
              Originally posted by veracotti View Post
              I post Traveler's cheques by registered mail along with a paying-in slip. Never failed. YMMV.

              But then you lose out on the crap exchange rate vs direct transfer.

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              • #8
                Originally posted by Effected After View Post
                What is a paying-in slip, and what does YMMV mean?
                Paying-in slip = deposit slip
                YMMV = Your Mileage May Vary

                That'll be 2000 yen, please. I do take PayPal.

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                • #9
                  post office

                  Hey I usually use JP Post for making a money transfer, it usually costs 2,500yen for the transfer and there is usually a charge from the receiving bank account.

                  Hope this helps! But yeah its pretty expensive to transfer money from Japan. Good Luck!

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                  • #10
                    I wonder if we all suffer from short-term memory loss.

                    Money transfer issues have been beaten to death, buried, dug up again, put through a mincer, cremated and scattered on the mountain. There are NO cheaper options than the ones that always get listed: Post Office, GoLloyds, bank transfer, travellers' checks.

                    The rates are the same now as they always have been, there is no miracle cure to this condition.

                    --

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                    • #11
                      Originally posted by mr.sumo.snr View Post
                      I wonder if we all suffer from short-term memory loss.

                      Money transfer issues have been beaten to death, buried, dug up again, put through a mincer, cremated and scattered on the mountain. There are NO cheaper options than the ones that always get listed: Post Office, GoLloyds, bank transfer, travellers' checks.

                      The rates are the same now as they always have been, there is no miracle cure to this condition.

                      --
                      I completely disagree: https://www.moneyswap.com/

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                      • #12
                        Originally posted by tequilla View Post
                        I completely disagree: https://www.moneyswap.com/
                        Fee details please.

                        It's possible to find them on the website (with a bit of a search) but I'm sure we'd all prefer to hear from someone who's used the service first-hand.

                        Cheers in advance.

                        --

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                        • #13
                          I could find the buy and sell rates, but I couldn't find any service charges.

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                          • #14
                            Originally posted by Effected After View Post
                            I could find the buy and sell rates, but I couldn't find any service charges.
                            In the Terms and Conditions section - which in itself tends to get the BS radar bleeping, though I am more than happy to be proved wrong. If there really IS a service available that offers rates at half a yen off the telegraphic rate (as Shinsei Platinum does) plus a transfer fee of less than 2000 yen (GoLloyds) - then I'm sold.

                            --

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                            • #15
                              As far as I could tell go lloyds charges 2000 plus a minimum of 1500 yen on top, making it a minimum charge of 3500 yen.

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