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Transferring money to the UK from Japan

KashimaKing

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Hello everyone! Two quick questions for anyone kind enough to help.

I have a JP post office account and I'm looking to send around 500,000 yen to the uk to my Lloyds account next year. Is this easy? Fees aside, is it fairly simple?

Also another quick question. My account has a 500,000 limit which i might hit. Is it possible to open a second bank account as someone on a working holiday visa?

Thank you

David
 

WonkoTheSane

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You can also check out TransferWise. Do all the math to see which option makes sense for you.
 

KashimaKing

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KyushuWoozy

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Hope you don't plan to keep your money in Lloyds. I sent a sum to them and noticed it was in an account with almost zero interest. I asked them to open another type of account for me but they said they aren't allowed because of cross-border restrictions on selling financial products and said it applies to Indonesia (where I live now) and Japan (where I will live). Another financial institution in the UK has told me the same thing - it's really annoying.

Other posters have given good links above about transferring money. What I learnt from transferring money from Indonesia to UK is to get it changed to GBP before sending. The rates were much better than if I sent it in local currency and let the banks change it to GBP 'en-route' using a horrible rate. No idea if the PO does that kind of thing.
 
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