Did you know you can send money from your Revolut account to a domestic bank in a few easy steps ？
One of the many useful features not known in Japan is the money transfer feature to local bank accounts. You can use your Revolut account to send money to other local bank accounts easily. Here are some tips and a step-by-step guide for you.
Tips for saving bank transfer fees
We all know transfer fees can be a real headache and, sometimes, higher than they should be.
With Revolut, customers can enjoy free bank transfers of up to five, 10, and 15 transactions per month for Standard, Premium, and Metal plans, respectively.
There’ll be a ¥1,000,000 free monthly limit, applied for all plans. Once either of the limits are met, you’ll pay a small fee on any following transactions within the month.
The fee is 2% of the local Japanese bank transfer amount. The limit resets every rolling month (not calendar month) on the day when your account was opened or upgraded and not on the first day of every month.
Any limit per transfer?
Yes, the minimum amount is ¥900 and the maximum amount is ¥1,000,000.
When will the funds arrive at local bank accounts？
Usually, if the transfer is made during business hours of local banks, the funds will arrive on the next business day. If the transfer is made outside of business hours of local banks, it will arrive in two business days.
Step-by-step guide to transfer money to local bank accounts from your Revolut account
Please update your app to the latest version and follow the steps below to make local transfers to Japanese bank accounts.
- Head to the Home screen in your Revolut App, and tap on ‘Transfer’ to make an Outbound Transfer
- If you haven't created a beneficiary account, tap ‘+New’ blue icon on the top right, and select ‘Bank recipient’
- When you type in your beneficiary details, please type your four-digit bank code, branch code, account type, account number, your first name and last name in Katakana. Please type in carefully, without errors
- Once the beneficiary is created, you’ll see your beneficiary under the ‘Accounts’ tab. Select the beneficiary tile, and make a JPY outbound transfer
- Review the details on the transfer page and confirm the outbound JPY transfer
Please note sender name will appear as ‘REVOLUT TECHNOLOGIES JAPAN カブシキガイシャ’ in your bank statements and not your name.
And that’s it! You’re ready to make transfers in a flash, with only a few taps. If you have any questions, please contact us, we’re happy to help.
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