Posted by debito on October 19th, 2008
Hi Blog. Got this from “Getchan” yesterday regarding circumventing the difficulties remitting money overseas through the Post Office. Lots of good stuff here, too good to be relegated to a comment. Let me devote a whole blog entry to it. Thanks Getchan. Debito in Sapporo
Here’s some idea how to circumvent the system:
I send money regularly to places all around the world, and to two overseas accounts I am holding (one in Germany, one in the US).
1) Get a postal savings account (formerly known as Pa-ru-ru).
2) Get your postal money orders debited from directly debited from that account instead of paying cash (there are special forms available for that kind of service). Present your account passbook when you make the payment.
3) For regular payments to recipients living overseas, wire a lump sum to an account of your choice. If in your name, note “savings” as your reason of payment.
4) If to the US, your stateside bank will charge you $12 to $22 to credit the wire, which usually takes 3 to 5 banking days, and the charge depends on whether a third bank is involved.
Inquire with your bank to get the correct routing number. Routing numbers for wire transfers MAY be different from those printed on your checks. The time frame depends on where you live (the P.O. sends a fax to the postal giro center in charge of int’l transactions – it used to be a straight wire before the fees were “adjusted”, as they put it). Tokyo and Osaka are usually the fastest, with countryside P.O.’s trailing far behind.
5) If to Germany, the Postbank will not charge any fees, and other banks will charge EUR 5 to credit incoming wires. For time frames, see previous comments.
6) From a US account, write checks against your balance & send them thru the mail. At $1 a pop it should be cheaper than spending 2000+ Yen per IPMO…
7) From a German account, make online IBAN / BIC transfers to any Euro zone bank (Postbank offers them for free).
Sending funds directly from a postal savings passbook SHOULD save you all those stupid questions P.O. employees are supposedly supposed to ask. At my P.O. some do, some don’t – the passbook plus my “hanko”, and eventually plus my DL are sufficient to confirm my identity, and “savings” (”貯金”) is a valid reason. It’s no one’s business what you do with your money once it hits an overseas account in your name. It is legally earned and has been taxed, and the trail can be followed to the point where it exits Japan. End of story for nosey counter clerks.
On a personal note – I do a lot of buying on eBay, and the safest way is to NOT use Paypal!!
Check this site:
Paypal has made it a habit to freeze accounts and seize funds at will, leaving little or no recourse to defrauded sellers and buyers alike, other than go thru law enforcement, the BBB or even the court system.
Many sellers refuse to deal with PayPal, and eBay will see their core business shrink further come the end of this month due to their third line forcing of their own subsidiary (checks and MOs will be banned from eBay.com).
I am both a seller and a buyer with 10,000s of transactions since 1999…
If you happen to encounter a postal clerk with little or no knowledge / training, assume (s)he is a newbie. It happens. If the same person messes up the second time, call the supervisor and ask him politely to re-train the counter clerk in question. If it happens again, call the supervisor again, and tell him, that time is a customer’s most valuable asset, and that nobody should be stealing it (this particular phrase got a lot of nods from customers waiting in line every time I have used it!), and that you would not want to see that person serving you again.
At my local P.O., six consecutive foul-ups by one particular clerk that cost almost four hours of my time excluding waiting in line earned him five a**-chewings, and a backroom desk job as a consequence.