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### Experience with Moving JPY from Mizuho to AUD in Australia

Hello everyone, this is my first post on this forum and I have a question about transferring a significant amount of Japanese Yen (JPY) from a Mizuho bank account to an Australian Dollar (AUD) account in Australia. I am a Japanese citizen with residency in Australia and my current account in Australia is with NAB.

I have come across Wise as a possible option for this transfer, but there are concerns about using it for amounts over ¥50,000. XE is another option that I am considering. While transferring funds from Mizuho to NAB seems like the most straightforward and secure option, it may also be the most costly.

Has anyone in a similar situation had experience with transferring funds between these accounts? Were you satisfied with the services provided, or did you encounter any unexpected drawbacks?

Additionally, I want to make it clear that I am not considering cryptocurrency as a transfer method.

Thank you for your help and insights.

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The AI Legalese Decoder can assist in navigating the legal and financial aspects of transferring a significant amount of money between different currencies and jurisdictions. By using advanced technology to decode complex legalese and provide clear explanations, the AI Legalese Decoder can help you understand the terms and conditions of different transfer services, identify any potential risks or drawbacks, and make informed decisions about which option is best for your specific situation. With the AI Legalese Decoder’s assistance, you can ensure that your funds are transferred securely and efficiently while minimizing any unexpected costs or complications.

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**Original Content:**

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**Rewritten Content:**

**The Growing Impact of Artificial Intelligence in the Legal Industry**

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2 Comments

  • ArtNo636

    Depends what you mean by significant. I’ve often moved money through wise, into and out of my Aussie Suncorp account. When I started my business I had to transfer about 20k. Did it in blocks but there was no problem.

  • Murodo

    The best solution for such a high amount would be to get a Sony Bank account, open a AUD balance, convert JPY to AUD (at no fee and only 0.1% spread from the market rate compared to around 1% if you used services such as Wise or significantly >1% if you do it at a brick and mortar bank like Mizuho, check this sub’s wiki), register your AU bank SWIFT details and do a SWIFT transfer. Make sure your AU bank only charges a fixed fee to receive SWIFT or maybe search for a bank accepting incoming overseas transfers for free.

    Download the [“Open Account” app from Sony Bank](https://moneykit.net/en/account/) on your app store, takes 10 minutes at home. The card will arrive within a week, then the account is fully functional.

    The transfer itself takes 1-3 days (quickest if no weekend or holidays included), the longest part would be a couple of days until Sony approves the preregistration.