When someone in Japan says, “I’ll send you my bank details,” they usually do not give only an account number. They normally provide the bank name, branch name, account type, account number, and account holder’s name. These details are needed to identify exactly which account at which branch of which bank should receive the money.
A bank transfer can be made through a banking app, online banking, an ATM, or at a bank counter. You select the bank and branch, choose the account type, such as an ordinary or current account, and enter the account number and the amount you want to send. Depending on the bank and the time of day, the recipient’s name may appear automatically after the account number is entered. If it does not, you may need to enter the name yourself.
People tend to be especially careful the first time they send money to someone. Even when the bank, branch, and account number appear correct, many people check the recipient’s name once again before confirming the transfer. If anything looks wrong, they stop and check the details before sending.
Once a transfer has been completed correctly, many banks allow that account to be saved as a frequent recipient. The next time, there is less information to enter and less chance of making a mistake. So the strongest sense of caution often comes with getting the first transfer right.
Behind the scenes, Japanese banks exchange transfer information through systems such as the Zengin System. Many banks now allow transfers at night, on weekends, and on public holidays. However, this does not mean that every transfer will always arrive immediately. Depending on the bank and the time, the money may not arrive until the next business day.
A transfer may also involve a fee, and banks can set daily limits on how much money can be sent. If money is sent to the wrong account, it cannot always be canceled immediately. A formal procedure called kumimodoshi, or a request to reverse the transfer, may be required. This is another reason why checking the recipient before pressing the final confirmation button matters.
In short, a domestic bank transfer in Japan works by selecting the bank, branch, and account, then checking the recipient before sending the money. Once you understand that basic pattern, the process is much the same whether you use an app or an ATM.
References
- Japanese Banks’ Payment Clearing Network, “What Is the Zengin System?”
- MUFG Bank, “Can I Check the Recipient Name When Making a Transfer Through Internet Banking?”
- MUFG Bank, “Bank Transfers”
- Japan Post Bank, “What Information Should I Provide When Receiving a Transfer From Another Financial Institution?”
