Deposits in Japanese yen. Money transfers in foreign currency Terms of early termination
The yield of deposits in Japanese yen is less high when compared with deposits in euros, dollars or rubles, however, the justification for such deposits may take place, especially if your trips to Japan become more and more regular.
In Russian banks, deposits in Japanese yen are protected by the State Deposit Insurance System.
If a Russian bank, the depositor will receive his deposit in full and additional interest that was accrued during the entire period of the actual presence of funds on the deposit.
The sum insured is paid in rubles, taking into account the current exchange rate of the Japanese yen at the time of license revocation. The exchange rate data is set by the Central Bank of the Russian Federation and the amount cannot be more than 1.4 million rubles.
The earning potential you can earn is reduced by wire transfer fees and conversion costs. The depositor must obtain all information regarding these conditions from the bank in advance.
Deposits in Japanese yen in Russian banks
Here are some of the most popular Japanese yen deposit programs for you to choose from:
- Arksbank offers a "Reliable" deposit with an annual rate of 6.5% for a year. The minimum deposit amount is 290,000 yen. The depositor receives interest at the end of the term and has the right to replenish the deposit. Opening a deposit under these conditions is available in Chelyabinsk, Voronezh, Belgorod, Vologda, Moscow, Essentuki and Pyatigorsk.
- In Express-Credit Bank, an annual deposit "Maximum" is available with a rate of 3%. The minimum amount is 500,000 yen and interest is also paid at the end of the term. The depositor has the right to replenish the deposit. You can make such a contribution in Moscow.
- Nota Bank offers a "Nota-Business" deposit with a minimum deposit amount of 3,000 Japanese yen. The annual interest rate is 3% and the term of the deposit is from 366 to 548 days. Making a deposit with the conditions under consideration is available in Moscow, Ufa, Orenburg, Irkutsk, Yekaterinburg, St. Petersburg and some other cities.
Japanese yen deposits are available and . The minimum amount is 1,000 yen, and the annual interest rate is 2% if the deposit is less than 3 million yen and 3% if the deposit is more than 3 million yen.
Under the conditions of this deposit, there is an automatic extension for a similar period with the conditions in force at the time of the extension.
Why am I not receiving an SMS with a verification code?
Sending verification codes is the responsibility of the issuing bank. If you are unable to receive a verification code to complete your payment, you will need to contact your bank's support team.
What currency should be chosen when replenishing?
In most cases, you need to choose the currency in which your card account is maintained in order to avoid double conversion.
Can I top up my account with a bank card directly in yen?
There is currently no such possibility. If you need to fund your account in yen, we recommend depositing funds via PayPal or an international bank transfer using the SWIFT system.
How quickly will funds be returned to my card upon withdrawal?
We process refunds within minutes of receiving a request. The term for crediting to a card account depends on the issuing bank and, as a rule, is 2-3 banking days. In the worst case, this process can take up to 30 banking days, but we have not yet encountered such situations.
Do you store my payment card details?
No, at no stage do we store your full card number or any other parameters. All payment data is entered and processed on our bank's secure payment gateway.
How will the replenishment transaction look on the bank statement?
We work with credit cards like a regular online store. The note to the payment will contain the address of our website: INJAPAN.RU.
MCC code: 4215
I replenished my account in rubles, but more (or less) funds were deducted from my ruble card. How did it happen?
When choosing to replenish your account in rubles, we always issue an invoice in rubles for the amount that we show you in your Personal Account when replenishing. However, our bank and trading account are located outside of Russia. In some cases, Russian banks (especially not very large ones) may choose to settle with Visa and MasterCard international payment systems in one currency (USD or EUR), regardless of the currency of the invoice. If your bank is one of those, then when replenishing in rubles, a triple conversion will occur:
RUB (your card account) - USD (exchange account with the IPS) - RUB (currency of our invoice) - JPY (account within InJapan)
Since funds are usually debited from the card account 2-3 days after the transaction is completed, the first two exchange rates have time to change several times, which leads to a difference in the amount.
This is an extremely rare situation and it is impossible to know in advance how a particular bank settles with MPS. For more information on this issue, you can consult your bank's customer service, however, in our experience, getting an answer from them can be difficult, since ordinary employees, as a rule, are not aware of the intricacies of the system.
If you have identified such a feature of the work of your bank, we can recommend replenishing your account in dollars, even if your card is in rubles - this will eliminate one of the conversions in this chain.
Money transfers in foreign currencies (US dollars, Australian dollars, New Zealand dollars, Canadian dollars, euros, yen, won, baht, yuan, New! Vietnamese dong, pounds sterling, Swiss francs, Hong Kong dollars) are:
Low commission and favorable exchange rate!
Transfer outside the Bank
to MUFG BANK LTD and Sumitomo Mitsui Banking Corporation:Transfer amount Commission up to 400,000 JPY 3000 JPY from 400,001 to 700,000 JPY 3 500 JPY from 700,001 to 1,500,000 JPY 4000 JPY from 1,500,001 to 2,500,000 JPY 4500 JPY from 2,500,001 to 3,500,000 JPY 5000 JPY from 3,500,001 to 4,500,000 JPY 5 500 JPY from 4,500,001 to 5,500,000 JPY 6000 JPY from 5,500,001 to 7,000,000 JPY 6 300 JPY over 7,000,001 JPY 3,000 JPY* + 0.05% of the transfer amount to other banks: up to 200,000 JPY 3600 JPY from 200,001 to 500,000 JPY 3 800 JPY from 500,001 to 1,000,000 JPY 5 500 JPY from 1,000,001 to 2,500,000 JPY 6 200 JPY from 2,500,001 to 7,000,000 JPY 6 300 JPY over 7,000,001 JPY 0.09% of the transfer amount, but not more than 13,500 JPY To calculate the profitability of a transfer in Korean won, you need to know the amount of the invoice issued by the Korean counterparty in two currencies - in dollars and in won, then multiply these two amounts by the selling rate of Primorye Bank, respectively, US dollars and won for Russian rubles. The received sums — to compare.
Convenient payment for Korean goods and services
If you plan to go to South Korea or pay for Korean goods or services, we recommend that you take care of the payment method in advance.
Our experts will be happy to help you calculate the most profitable way for you to pay with a Korean seller.
* Payment is made in foreign currency or in rubles at the exchange rate of the Central Bank of the Russian Federation established on the day of the transaction.
Transfer outside the Bank
Transfer amount Commission up to 11 500 HKD 75 HKD* from 11,500.01 to 53,000 HKD 115 HKD* from 53,000.01 to 68,000 HKD 150 HKD* from 68,000.01 to 83,000 HKD 190 HKD* from 83,000.01 to 151,000 230 HKD* from 151,000.01 HKD 265 HKD* * Payment is made in foreign currency or in rubles at the exchange rate of the Central Bank of the Russian Federation established on the day of the transaction.
Transfer outside the Bank
From an account and without opening an accountTransfer amount Commission from 0 to 71 200 THB 450THB from 71 201 to 106 800 THB 520 THB from 106 801 to 142 400 THB 620THB from 142,401 to 178,000 THB 700THB from 178 801 THB 750THB Convenient payment for Thai goods and services
If you plan to go to Thailand or pay for Thai goods or services, we recommend that you take care of the payment method in advance.
Our experts will be happy to help you calculate the most profitable way for you to pay with a seller in Thailand in the national currency of this country - take cash Thai baht or a cashless transfer in baht with you.
Transfer outside the Bank
Transfer amount Commission from 0 to 34,500,000 VND 120,000 VND from 34,500,001 to 161,000,000 VND 120,000 VND from 161,000,001 to 207,000,000 VND 200,000 VND from 207,000,001 to 253,000,000 VND 250,000 VND from 253,000,001 to 506,000,000 VND 300,000 VND from 506,000,001 to 1,150,000,000 VND 460,000 VND from 1,150,000,001 to 2,300,000,000 VND 800,000 VND from 2 300 000 001 VND 1,100,000 VND Payment of the commission is made in the currency of the account or in rubles at the exchange rate of the Central Bank of the Russian Federation, set on the day the funds are deposited by the client.
The operation is considered to be carried out on the day the funds are deposited for the transfer.
Australian dollars (A$)
Canadian dollars (C$)
New Zealand dollars (NZ$)
Pounds sterling (£)
Swiss francs (₣)
* Payment is made in foreign currency or in rubles at the exchange rate of the Central Bank of the Russian Federation established on the day of the transaction.
From the point of view of competitiveness in the international market, the yen is "doomed" to further appreciation. In other industrialized countries, the possibility of concluding agreements with Japan that would somewhat limit the export of Japanese industry has long been discussed. It is not difficult to assume that such self-restraint could be achieved through a gradual revaluation of the Japanese currency. Germany has seen from its own experience the positive nature of such a policy: the brand's competitiveness is unlikely to have deteriorated, but the German currency has become more stable. A revaluation of the currency holds back domestic prices as imports become cheaper.
On the other hand, the Japanese economy is facing difficult times due to the accumulation of debts, primarily government debts. The world did not pay as much attention to this circumstance as to the US debt that formed much later.
Damaged the yen and the failure of major speculation on the stock exchanges and real estate markets in the early 90s.
Despite this, since August 1992, it began to gradually rise from the level of 1.10 German marks, reaching an intermediate exchange rate of 1.68 marks (for 100 yen) by the summer of 1993.
Of fundamental importance is the fact that the Japanese is more closely connected with the dollar economic space than with the European Monetary System. Therefore, fluctuations of the yen, in principle, only with a greater amplitude, repeat the dollar against the EMU currencies, especially the German mark. The volatility of the yen and the associated opportunities for gains and losses on exchange rate fluctuations are much higher than for the Swiss franc, which is more oriented towards the European market.
It is useless to open an account in the German branch of a Japanese broker bank, unless, of course, you are going to invest millions in Japanese. However, you can open a yen account in almost any Swiss bank and use it to purchase Japanese stocks and bonds. You will receive the most specific advice at the branches of Japanese banks.
- Australian and New Zealand dollars
For a number of years, loans in these currencies brought record interest income. Later, their profitability came to naught as a result of devaluation. Undoubtedly, Australia as a commodity country located in a politically calm place has a bright future ahead of it. the depreciation of both currencies against the German mark had previously been interrupted by periods of relative growth that lasted for months.
4. When choosing a country for placing your foreign deposit, do not limit yourself to one currency of your choice
Recall the reasoning in section 1.1, according to which you should not keep large amounts in bank accounts in the currency of the country where the bank is located. Use a foreign bank primarily as a service enterprise for other types of investment of your funds. At the same time, it is not at all necessary to transfer them to the currency of the country where you opened the account. It is typical of the five neighboring countries of Germany that we consider in this book that they also distribute their deposits in different currencies to different countries. This is especially true for Luxembourg and Switzerland due to their international orientation. In Holland and Austria, you can get a decent income without changing the currency. In Austria, deposits in German marks are preferred, while Dutch deposits are primarily focused on North America and Great Britain. In Luxembourg mainly, but also in Switzerland, many foreign clients do not open accounts in the currencies of these countries at all.
Accounts in branches of the same bank in different countries
If you have a very large amount, you can distribute it among the branches of the same bank in Luxembourg, Switzerland and possibly Germany. In this case, you will be able to use the specific advantages of investing in all these countries due to the formally simple transfer of shares of your capital from one country to another.
The disadvantage of investing all your funds in the same bank, even in countries, is that it is less versatile - advice than if you entrusted your money to banks with different investment philosophies.
5. Open bank accounts in countries where it will be easier for you to visit: personal contacts abroad are more important than your country
As just shown, when choosing the country in which you are going to open an account, you should not give preference to a particular currency. Your choice of a foreign bank and, accordingly, the country where it is located, should depend primarily on whether you can personally visit this bank (and your consultant). This is essential for the success of investment advice.
This may be the country where you spend or at least you can often visit. Swiss bankers have adapted to the influx of vacationers from Germany in the summer months and skiers in the winter. According to the observations of currency speculators, during periods of influx of tourists, German in Zurich falls slightly in price, as large quantities of banknotes are exchanged: Cash, as a rule, does not leave traces.
If you travel a lot on business, of course, it is better to open an account in the country where you visit most often. Then the visit will not always be on the one when the capital market is not too busy, since most of its participants are on vacation. In the middle of the stock exchanges usually, often leads to unexpected changes in the course: suddenly 'appearing demand does not find any supply. On the other hand, bad news forces those who stay at home to throw stocks into the market, but there is no one there who would be interested in them, and this can lead to excessive depreciation.
Finally, it is possible to open accounts in multiple countries, thus taking advantage of the special advantages and differences in fee structure highlighted in this book. So, in Austria, you can open a savings account and, going to summer, deposit money into it. On the way back, you can pass through Switzerland and dispose of the speculative shares held there on deposit. Additionally, you can open a small deposit giro account in Luxembourg by investing short-term securities with a fixed interest. It is precisely such deposits that are preferable during periods of rising interest, when the rate of medium and long-term securities with a fixed interest falls, this is not suitable and you can also wait out the time for investing money in shares by investing in the most profitable currency in this currency. In this case, in Luxembourg you do not have to pay intermediary commissions, how! it would be in a Swiss bank.
However, you should not overscatter your capital. The possible consequences of this are highlighted in the next section.
The way out is to conclude agreements with branches of the same bank, possibly with foreign branches of a German bank. If the German bank or savings bank you have worked with is represented in Switzerland by a communal bank, you only need to check the table to see if they also have subsidiaries in Luxembourg. It's the easiest way to make your money work where it's most beneficial in terms of value! view of market conditions and interest rates.
If it is important to you that your accounts be maintained by a Swiss bank, first find out which Swiss banks have branches in Germany and whether they exist in Luxembourg.
No matter how convincing it may seem to be able to open accounts in the same bank, but in different countries, in order to quickly redistribute your funds, in practice this may not be the case! well. In fact, the ladies and gentlemen you interact with at each branch are far more interested in your interests! its branch than a bank in . Although such a "parochial" approach is not expressed in words, in fact it is clearly visible. The client is evaluated in the amount that is in his account or in the deposit. Whether you have funds in other branches or not, your consultant is deeply indifferent. money is simplified! only in some cases it is easiest to send from one bank to another.
Therefore, many investors prefer to concentrate funds intended for investment abroad in one bank in order to avoid dispersion of money, or consciously trust foreign banks by diversifying investments. For this, the bank branches in Switzerland and Luxembourg have all the conditions.
By giving a brief summary of the advantages of the banks of neighboring countries as a depositor and a speculator, we would not like to influence your decision. The determining factor for such a choice is still the possibility of regular personal contacts.
5. Finding the “cheapest” bank is pointless
Das Wertpapier ("Securities") published a comparison of the costs of acquiring and depositing securities with banks in five countries; two examples of deposits in the amount of 100 thousand and 300 thousand marks were used for the calculation. The results vary greatly. The minimum fees are from the Danish bank Jyske and the Belgian Credit General. Maximum - one Dutch bank. The lowest fees are at the Schweize-rische Gesellschaft (Swiss bank). Acquisition of securities in three Austrian banks (except Oberbank) will be very expensive. The cost of banking services cannot be assessed depending on the country in which the credit is located. The fee structures of individual banks vary even more. and a bank that is very profitable for depositors who often replenish their deposit accounts may be "expensive" for those who keep their securities for years. You need to prove yourself a meticulous mathematician and take into account all the factors to choose the most profitable bank. These include not only travel expenses, but also investment advice that best suits your needs. On the other hand, these frictions depend on the amount you are going to invest, as well as on the characteristics of your depositor psychology.
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Just a few years ago, the demand for foreign currency among bank customers was so great that some Russian citizens even took out mortgages in Swiss francs or Japanese yens. But the crisis has shown that it is risky to make long-term deposits in foreign currency and there is no way to predict its relationship to the ruble in the future.
But offers for a rare currency for the country in banks have gained a foothold and today, in addition to dollars and euros, deposits in Japanese yen, pounds sterling, Chinese yuan or Swiss francs are popular. At the same time, depositors are not worried that the rates on deposits in the currency of foreign countries are one and a half to two times lower than on the same deposits, but in rubles. Because deposits of this type are fully protected from internal inflation.
Who benefits from holding deposits in Japanese yen?
Despite the fact that a deposit in yen is not as profitable as a deposit in euros, dollars or even rubles, in some cases it is beneficial to have a deposit in Japanese currency. For example, if a bank customer works in Japan or frequently visits the country for other reasons.
Moreover, the state insurance system fully protects the deposits of depositors of Russian banks who keep money in Japanese yens. If suddenly the bank's license is revoked, the client will receive not only all the funds on his deposit, but also a percentage for the entire time the money is kept in the bank. The only thing is that the insurance will be paid in rubles, but at the rate of the Central Bank on the date of revocation of the license. In addition, it is important to know that the payment cannot exceed 1.4 million rubles.
Before contacting a bank and placing a deposit in Japanese currency there, be sure to check all the conditions of storage. The fact is that the commission during the conversion of funds or during non-cash payments can significantly exceed all interest accumulated over the deposit period and neutralize the entire benefit from the deposit.