Receive payouts via local wire transfer in JPY (Japan)

Overview

Local wire transfer in JPY is a transfer of funds between banks in Japan in the local JPY currency. This method is valued for its reliability, convenience, and speed, as it provides a direct transfer from one bank account to another within the country.

Supported currencies

Japanese Yen (JPY)

📌 If the currency of your balance in Smartcat is different from JPY, the funds are converted to JPY at Smartcat's exchange rate.

Commission

10 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.

You can view a list of companies that reimburse your commissions in the My Payouts section (click the Learn more button on your payout method).

Minimum and maximum payout amounts

From 3,200 JPY to 1,000,000 JPY

Smartcat lets you set the minimum amount from which the payment is sent to you. To learn more, see Minimum payout amount.

Required details

Advantages

• Cheaper than international transfer. There is no intermediary bank, and the commission is lower than for an international wire transfer

• Speed. Payouts are processed in up to 3 business days on the Smartcat side and up to 1-2 business days on the bank side

• Funds are received immediately in the local currency. You do not spend money on additional conversions and can use the money in your country right away

FAQs

I chose this method, but the payment was rejected. Why?

Act as follows:

• Make sure you provide payment details for a local wire transfer (not an international SWIFT transfer)

• Make sure the postal code, city, street, and house number are specified in the corresponding fields of the details. Do not enter a PO box or email address instead of your residential address

• Check that the account number, bank name, branch (only digits are allowed), SWIFT, and account type are correct

• Make sure the name of the account holder is entered in the details exactly as it appears in the bank details, including all spaces and symbols

• The name and address of the recipient must be written in Latin letters

If the details you provided are correct, contact your bank branch to find out the reason for the rejection of the payment on the bank's side.

I cannot find the payment. What does the payment look like on the bank statement?

If you cannot find the payment, check your account statement for the following transactions. As a reference, the payment ID can be specified in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section. SMARTCAT EUROPE BV, AIRWALLEX, or Banking Circle SA is displayed as the sender, depending on the receiving bank.

For which countries is this method available?

The method is only available for receiving funds to a bank account in Japan.

I received a payment. What details should be used for billing?

When receiving funds by local bank transfer in JPY, enter the following Smartcat details in your account:

• Full name: Smartcat Europe BV

• Legal address: Strawinskylaan 903, 1077 XX Amsterdam, the Netherlands

• VAT no.: NL859832880B01