How much is the recipient fee for JPY if I use JPY currency
Doheta
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Posted on
Nov-06-2023
10:58 AM
Hello! So I know the recipient needs to pay some fee when they received money for goods/service payment. I've been using USD as my primary currency, but I'm planning to change it to JPY because my next client is from Japan and pay with JPY. (Note: I'm not living in the USA, and Paypal doesn't support my country's currency) My questions are: 1. When I receive payment in JPY to my JPY wallet, which fee will be applied? Is it the 4.4 percents + fixed rate (I think it was 40 Yen) fee? Let's say my client sends me 50,000 Yen, does it mean 2,240 Yen would be reduced from the initial amount? 2. When I want to transfer my fund into my local bank, they will convert directly from JPY to my currency, right? And not from JPY, to USD, then to my currency? Thank you 🙏
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Receiving Money
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Transaction Fees
2 REPLIES 2
kernowlass
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Nov-06-2023
11:50 AM
Why not just ask them to pay in USD as its easy enough.
You can either invoice or money request them in USD and then when they pay it will say how much in JPY will be deducted from their funding source before they click to pay.
Advice is voluntary.
Kudos / Solution appreciated.
Doheta
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Nov-06-2023
02:30 PM
Hi Kernowlass, thank you for answering! I have tried, but in short, we've both decided that it will be in JPY instead. But really, I just want to know whether the same formula (4.4 percents + fixed rate) applies here.
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