Rakuten Bank International Money Transfer

rakuten bank international transfer
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Rakuten Group is a Japanese conglomerate founded by Hiroshi Miktani in 1997. The group offers a variety of services including fintech, e-commerce, digital content, and communication services. Rakuten Bank is a part of the Rakuten Group which is based in Tokyo. Several services are provided by the bank such as loans and mortgages, deposit accounts, investment services, insurance services, and money transfers.  In fact, Rakuten Bank International Transfer was the first to start money transfer services using Facebook. Rakuten means ‘optimism’ in Japanese and it is the core philosophy of the brand. Keep reading to know more about the  Rakuten Bank International transfer. 

Why choose the Rakuten Bank International Transfer?

Below are the reasons you should choose the Rakuten Bank International Money Transfer.

  • Rakuten Bank charges low remittance fees. Moreover, online remittance service is available 24 hours a day
  • The remittance can be done to 203 countries around the world in 63 currencies. For example, U.S. dollars, Hong Kong dollars, South Korean won, Euros and Australian dollars.
  • Customers don’t have to provide bank account details for using the Rakuten Facebook money transfer service
  • No transaction charges are levied for transferring money to a Rakuten bank account that is connected to a Facebook account. Moreover, a 50-word message can be added to the transaction.
  • Transactions can be made to non-Rakuten Bank account holders as well. 

Rakuten Bank International Transfer

Rakuten Bank Ltd offers international money transfer services to both: retail customers, and self-employed customers. The Rakuten Bank international transfer is completely online.  The details for the same are given below:

 Rakuten Bank international transfer: Remittance Fees

The remittance fee for the Rakuten Bank International transfer is 750 yen (INR 447.21) for retail customers. However, self-employed customers need to pay 1000 yen for the same. The amount charged for the international money transfers remains the same irrespective of the amount transferred.

Maximum and the minimum transaction amount 

Minimum Transaction Amount
The transaction was done in a foreign currency1 yen (INR 0.59)  or more (after conversion to yen)
The transaction was done in Home currency (Yen)1 yen (INR 0.59) or more (in 1 yen increments)
Maximum Amount Per Remittance 
Personal AccountSelf Employed Account
A day1 million yen (INR 5.91 lakh)A day3 million yen (INR 17.74 lakh)
A month (1st- to the last day)2 million yen (INR 11.82 lakh)A month (1st- to the last day)5 million yen (INR 29.57 lakh)
A year5 million yen (INR 29.57 lakh)A year60 million yen (INR 3.54 Cr)

Also Read: Cooperative Bank International Transfer

Overseas Intermediary Bank Charge

International money transfers require payment to an overseas intermediary bank. The Rakuten Bank International transfer amount to the overseas bank is 1000 yen (INR 591.49)

Overseas Intermediary Bank Charge
Charges to be paid by the remitter 1000 yen (INR 591.49) per transaction payable by the remitter
Charges to be paid by the recipient1000 yen (INR 591.49)  shall be deducted from the remitted amount

Remittance in Yen Charge: Lifting Charge 

The lifting charge is a charge to be paid to the bank for wire transfers. The Rakuten Bank International charge for the same is 3000 yen (INR 1,774.42.)

Also Read: Study in Japan: Universities, Scholarships, Costs

Time taken for the transaction to be complete 

The time taken for Rakuten international money transfers varies on certain factors. For example, whether an intermediary bank is involved or not. However, the average time for the amount to be transferred is 1-3 business days.

Rakuten Bank SWIFT Code in Japan

The following is the SWIFT Code of the Rakuten Bank in Japan, The SWIFT code may vary depending on the banking service.

Bank Name Rakuten Bank, LTD

Rakuten Bank and Viber Money Transfer 

Rakuten Bank and the Viber media (part of Rakuten Group) have collaborated to launch a transfer by Viber. As a result, customers can transfer funds using the Viber mobile messaging service. Some of the features of the Rakuten Bank and Viber money transfer include 0 transaction charges to a Viber account linked to the  Rakuten Bank account, ease of transaction history, ease of transaction to a non-Rakuten bank account holder, and the advantage to send a 50-word message along with the transaction.

Also Read: Samba Bank International Money Transfer

Rakuten Bank and Facebook Money Transfer 

Rakuten Bank is the first bank in Japan that has made it possible for customers to transfer money using a Facebook account. It enables a user to transfer money to anyone on the user’s friend list. Some of the features of this service include the Safe transfer of funds without the bank information,  ease of transaction history, ease of transaction to a non-Rakuten bank account holder using a Facebook URL,  and the advantage to send a 50-word message along with the transaction.


How much does Rakuten charge for international transfers?

The Rakuten Bank charges a remittance fee of 750 yen (INR 443.68 ) for every transaction for retail customers. For self-employed customers, the fee goes up to 1000 yen (INR 591.48) per transaction.

What is the swift code for Rakuten Bank?

The SWIFT code for Rakuten Bank in Japan is – RAKTJPJTXXX

Does Rakuten Bank have English support?

Unfortunately, Rakuten Bank only provides customer support in Japanese. Once registered, all services would be provided in Japanese itself.

The Rakuten Group has more than 70 businesses around the world. They are known for providing a variety of services to 1.7 billion members worldwide. For example, Rakuten Viber, Rakuten Kobo, Rakuten Advertising, Rakuten Intelligence, Rakuten TV, etc.The  Rakuten Bank is also a part of the Rakuten Group. The Rakuten Bank International Money Transfer service is completely online and is available 24 hours a day. The Rakuten Bank international transfer can be done in 203 countries in 63 currencies. Visit Fly. Finance to know more about such topics.

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