Procedures for Overseas Fund Transfer

How to make an overseas fund transfer varies depending on your situation.
Answer each question from the link below to find the procedure best suits you.
When you plan to make an overseas remittance to the same payee in the future, we recommend that you register the payee in advance so that you can transfer via online banking.

How to make overseas fund transfer

How to register overseas fund transfer payee

All customers (residents) are required to notify his or her My Number (individual number/corporate number) the first time they transfer or receive funds to/from overseas via an SMBC Trust Bank account. Please see here to check how to notify your My Number (individual number/corporate number) and documents that need to be submitted.

Fee and structure of overseas fund transfers

There are various fees which may apply to your fund transfer.
Please refer to the explanation and illustration below to learn about the basic structure and fee that involve in an overseas fund transfer.

When making overseas fund transfers

  1. Overseas Fund Transfer Fee
    This is a handling fee paid to SMBC Trust Bank.
    The amount will vary depending on your account status and/or chosen channel.
    Overseas Fund Transfer (Electronic transfers) Fee
  2. Foreign Exchange Fee
    This is a transaction fee for currency conversions.
    The TTS rate which is applied to currency conversion from Japanese yen to a foreign currency includes a foreign exchange fee.
    Foreign Currency Exchange Rates
  3. Bank charges for the Banks Concerned
    This is a processing fee often charged by beneficiary and/or intermediary banks. In principle, it will be borne by the recipient as it is deducted from your remittance amount. The exact amount of the fee is unknown until it is actually processed as it may vary based on: the currency, policies of correspondent bank(s) involved, country and etc.
    As shown in the illustration below, funds sent from your account will go through a domestic intermediary bank before being passed on to an overseas correspondent bank. Therefore it may take several days for your funds to arrive in the beneficiary account.

Structure of making overseas fund transfers

Remitter > SMBC Trust Bank Overseas Fund Transfer Fees※1 Foreign Exchange Fees※2 > Intermediary bank in Japan (Sumitomo Mitsui Banking Corp.) > Intermediary bank in overseas※4 Bank charges for the Bank Concerned※3 > Beneficiary bank in overseas > Recipient
  • ※1Overseas fund transfer fees will be waived for PRESTIA DIGITAL GOLD, PRESTIA GOLD and PRESTIA GOLD PREMIUM customers.
    (For PRESTIA DIGITAL GOLD customers, the fee waiver is limited to online banking only.)
  • ※2There are no foreign exchange fees when transferring funds in currencies already held in your account.
  • ※3Bank charges for the Bank Concerned will not be waived since they are not our handling fee.
  • ※4There may be more than one intermediary bank.

When receiving overseas fund transfers

  1. Charges for fund transfer
    This is a handling fee paid to the originating bank in overseas.
    Fees vary by financial institutions.
  2. Foreign Exchange Fee
    This is a foreign exchange transaction fee for currency conversions.
    The TTB Rate which is applied to currency conversion from foreign currencies to Japanese yen includes a foreign exchange fee. If the fund is transferred in foreign currency to the Japanese yen savings account, the fund will be converted into Japanese yen at the TTB rate mentioned above.
  3. Bank charges for the Banks Concerned
    This is a processing fee often charged by intermediary banks. In principle, it will be borne by the recipient as it is deducted from your remittance amount. The exact amount of the fee is unknown until it is actually processed as it may vary based on: the currency, policies of correspondent bank(s) involved, country and etc.
    As shown in the illustration below, funds sent from overseas account will go through an overseas intermediary bank before being passed on to a domestic intermediary bank. Therefore it may take several days for your funds to arrive to your account.

Structure of receiving overseas fund transfers

Remitter > Originating bank in overseas Charges for fund transfer > Intermediary bank in overseas※4 Bank charges for the Banks Concerned※2 > Intermediary bank in Japan※3 (Sumitomo Mitsui Banking Corp.) > SMBC Trust Bank  Foreign Exchange Fee※1 > Recipient
  • ※1There is no exchange fee if you receive your funds in your PRESTIA MultiMoney Account in currencies available. Please be sure to have signed a PRESTIA MultiMoney Foreign Currency Saving Deposit contract in advance.
  • ※2Bank charges for the Banks Concerned will not be waived since they are not our handling fee.
  • ※3In principle, please provide the originating bank the domestic intermediary bank information when you make a fund transfer from overseas. For further information, please refer to "Required Information for Receiving Overseas Telegraphic Transfer" for details.
  • ※4There may be more than one intermediary bank.

For applying for exemption for dependents living outside Japan

For overseas remittances to relatives living outside Japan, please use *PRESTIA Online or PRESTIA Mobile.

  • *You need to complete the "Overseas Fund Transfer Payee Registration" on PRSTIA Online in advance.

How to register Overseas Remittance on PRESTIA Online

The following documents can be used as "Documents Concerning Remittances" when applying for exemption for dependents living outside Japan.

"Overseas Remittance Record"

- can be printed when you complete an overseas remittance from PRESTIA Online (STEP4 Confirm Your Completed Transaction)

"Overseas Remittance History"

- shows overseas remittances that have been made since March 2021 through all channels including over the counter or PRESTIA Phone Banking.

Regarding documents that can be used for annual tax report

For details, please see the following link to the website of National Tax Agency.

National Tax Agency website

Confirmations Required by Law

Confirmation Based on the Foreign Exchange and Foreign Trade Act

In order to comply with applicable laws and regulations such as the Foreign Exchange and Foreign Trade Act, SMBC Trust Bank takes measures to confirm that your overseas fund transfer transaction does not violate "regulations on trade-related payments" or "regulations on the purpose of use of funds".
For details on these regulations, please see the following links to the websites of the Ministry of Finance (Only in Japanese) and the Ministry of Economy, Trade and Industry.

Ministry of Finance Website

Ministry of Economy, Trade and Industry Website

Confirmations based on OFAC Regulations

In order to comply with the regulations of the U.S. Treasury Department's Office of Foreign Assets Control (OFAC), SMBC Trust Bank takes measures to confirm that your overseas fund transfer transaction does not violate OFAC regulations.
For details on these regulations, please see the following link to the OFAC website (in English).

OFAC Website

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