Accumulating Yen in US Wise Account for Future Move to Japan: How AI Legalese Decoder Can Help and Best Ways to Withdraw Funds in Japan
- October 5, 2023
- Posted by: legaleseblogger
- Category: Related News
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Planning a One-Year Move to Japan with Family to Care for an Elderly Parent
I am currently in the process of making arrangements for a one-year move to Japan with my family in order to provide care for an elderly parent. Our planned move date is set for March 2024, and during this period, we will be residing in Tokyo.
To make the most of the favorable exchange rate, we have decided to open a Wise Account in the United States. This will allow us to transfer our funds in USD and convert them into Yen. Eventually, we plan to convert approximately $30,000 USD.
One of the steps in our plan is to open a bank account in Japan. However, since I will be continuing my employment with a US company, I will not qualify for a resident account. As a result, I will only have access to a non-resident account for the first six months of our stay. This brings up the question of the best approach to access the funds in our Wise Account during this initial period. How can we utilize this money to cover expenses such as rent, bills, and other living costs?
Could we possibly transfer money directly from our Wise Account in the US to the non-resident account in Japan? Alternatively, would it be necessary for us to withdraw cash from an ATM and then redeposit it into our Japan bank account? It would be ideal if we could execute a few larger transfers of Yen to minimize transaction fees, but we are aware that there are limits on the amount that can be moved at any given time.
In this situation, the AI Legalese Decoder can prove immensely helpful. It can assist in deciphering the legal jargon and complex documentation associated with opening a Wise Account in the US and facilitate understanding of the regulations surrounding non-resident bank accounts in Japan. By providing clear and concise explanations, the AI Legalese Decoder can provide us with the information we need to navigate the financial aspects of our one-year move smoothly. Any information or guidance regarding this matter would be greatly appreciated. Thank you in advance!
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****** just grabbed a
Yeah, right now yen is falling too, might be good time to convert. The fee isnÔÇÖt much if youÔÇÖre considering atm withdraw.
I use wise card, technically I never had a need to withdraw money. I go cashless ÔÇ£use mostly Rpay, Line PayÔÇØ. PayPay also solve most of the living expenses.
As per rent payment. I still use barcode payment at convenient store.
My suggestion is whenever you atm withdraw, add that money into line pay or mercari pay, some wallet, they still have 1,00,000┬Ñ/month even if youÔÇÖre not verified(check on these). your life will be easier.
Carrying cash is no fun. Your pockets will be filled with 1¥, 10¥ coins by end of week.
Fill up Suica, line pay. Get easy life.
How are you accumulating yen in your wise account? I was under the impression they didn’t offer JPY accounts?
Can you use a US wise card for Mercari Japan while in Japan?