Seven Bank International Money Transfer

seven bank international money transfer

Seven Bank Ltd. offers financial services in addition to operating automated teller machines. Loans, credit cards, banking accounts for savings, and payment transactions are among its services. The company’s headquarters are in Tokyo, Japan, and it was established on April 10, 2001. To send money to the bank, you had to take time off of work and travel a fair distance. Additionally, you had to pay additional fees on top of the sending fees. It also took too long for you to receive your money after sending it. Finally, you had to fill out forms each time you sent money, which was a hassle. Have any of these issues ever arisen when you send money abroad? With Seven Bank Ltd. international money transfer, things get easier. Let’s learn all about it in this blog. 

Features of Seven Bank International Money Transfer

Some of the main features of Seven Bank International Money Transfer are elaborated below. 

You can send money anywhere at any time! (*1,*11)

Using the Seven Bank International Money Transfer Service*2, you can send money abroad at any time. You can send money at any time from anywhere you want using Seven Bank’s Internet banking. There are more than 26,000 ATMs operated by Seven Bank located all over the country, including in Seven-Eleven convenience stores, businesses, stations, and airports. If there are no banks nearby, Seven Bank ATMs are a convenient option.

Simple Send Charges

The Seven Bank’s international money transfer service has fair and transparent send fees.*1 There won’t, in theory, be any additional fees for withdrawal.For different amounts to be transferred, different send fees will be assessed. Please use the table below as a guide. When the money transfer is accepted, send fees along with the transferred funds will be deducted from your Seven Bank account.

There are more payout locations to choose from! Money can be received in minutes!

Money can be received shortly after remittance with the “Cash Pick-up” feature of Seven Bank’s international money transfer service. There are numerous receiving locations available for “Cash Pick-up” of Seven Bank International Money Transfer Service.

The largest money transfer company in the world, Western Union, has more than 510,000 receiving locations worldwide that are connected to them. These locations are spread across about 200 different countries. The recipient won’t necessarily need a bank account to receive money, in theory.

Sending Money is Paperless

Every time you transfer money, no forms are required to be filled out. When sending to a new receiver, pre-registration is necessary.

Must Read: SBI Education Loan for Studying Abroad without Collateral

Steps for Seven Bank International Money Transfer

To send money internationally using Seven Bank follow the steps given below:

  • If you want to use the Seven Bank International Money Transfer you first have to apply for an International Money Transfer Agreement with Seven Bank. 
  • Additionally, to send money online set up a direct banking service. The “Seven Bank Money Transfer App” does not support the Seven Bank International Money Transfer Service (with Western Union). By selecting the “Western Union” menu, you can view the exchange rate, but the app does not have a send money option.
  • Depending on the hour, ATM service fees may be added to transfer fees when sending money through a Seven Bank ATM.
  • The margins of Seven Bank are included in the foreign exchange rates used for currency conversion for the International Money Transfer Service.
  • To use the Seven Bank ATM, some countries like China and the Philippines have a threshold amount on money transfer and also they have different ATMs outside of business hours. 

Also Read: What is the Best Way to Send Money Internationally

Charges of Seven Bank International Money Transfer

Below mentioned in the tabular form are charges for international money transfer:

Remittance AmountCash Pick-up Fee
1 yen – 10,000 yen(INR 0.62 – INR 6,228)990 yen(INR 616)
10,001 – 50,000 yen(INR 6,228 – INR 31,141)1,500 yen (INR 934)
50,001 – 1,00,000 yen(INR 31,141 – INR 62,282)2,000 yen(INR 1,245)
1,00,001 – 2,50,000 yen(INR 62,282 – INR 1,55,707)3,000 yen(INR 1,868)
2,50,001 – 5,00,000 yen  (INR 1,55,707 – INR 3,11,414)5,000 yen(INR 3,114)
5,00,001 – 1,000,000 yen (INR 3,11,414 – INR 6,22,829)6,500 yen(INR 4,048)

Note: 2,000 yen  (INR 1,247) fixed is the Credit to bank account fee in all aforementioned amounts

Must Read: List of International Money Transfer Companies

FAQs

Q1. How to transfer money from seven bank?

Ans. There are 2 ways to transfer money from seven bank via ATM and online using a mobile app.

Q2. How do I deposit money into seven bank?

Ans. There are 2 ways of depositing money into seven bank: ATMs are available for depositing cash, another way to deposit money is by account transfer.

Q3. Is seven bank a real bank?

Ans. Yes, Seven Bank Ltd is a real Japanese bank. 

That was all about Seven Bank International Money Transfer! Hope you received better insights. Reach out to Fly Finance for better guidance. For more study abroad needs, you can contact Leverage Edu.  

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