May 052015

MoneyGram Japan


Hello. I am living in Oita, Japan. And i want to know where is the nearest money gram agent?



I could not find physical address for any MoneyGram agent in Oita, but there are online services like the following:



     Phone: 0333590009
     Phone: 0362292185


Dec 242014

Japan is one of the countries that are well known for quality. It is among the greatest industrial nations of the world. There are many expatriates living in the country who send money out of the country and money is also transferred for business purposes. Other than the leading money transfer services like Western Union and MoneyGram, there are few local money transfer services like the one offered by Seven Bank.

Seven BankThey offer an international money transfer service from Japan, but for receiving funds, they direct customers to Western Union. To send money, one needs to have an account with Seven Bank and apply for international money transfer, before depositing money. Money transfer can be requested through internet or over the mobile phone or through a Seven Bank ATM.

Money can be transferred to almost every country of the world, however, before going forward, one is advised to refer to the list of supported countries. Charges are quite high compared to other services. For instance, sending $100 to the United States costs JPY 1500, apart from the exchange rate difference. The fee can be calculated here, but the supported countries should be referred to first.

There is a limit for transfer of money, which is 1 million JPY in one transaction or in one day or in one month. Annual limit is 3 million JPY. Having said this, some countries may have lesser limits. Western Union locations may set different limits for receiving.

Nov 082014

By Mohammed Waseem

We have known many money transfer services that allow transfers to India and similar developing nations. Sending money from India is however subject to a lot of restrictions, it is not impossible though; but the options are very few and many of the common people are unaware of them. Any leading money transfer service you mention, they have no way to send money out of India due to the restrictions involved.

There are few foreign exchange companies that offer money transfer from India to many countries. Thomas Cook is a leading foreign exchange company and a travel agency that has branches in all major Indian cities. They offer money transfer services from India to over 120 countries.

Thomas CookIn order to send money, one has to walk into a Thomas Cook office and complete the process to send money abroad in a fast, reliable and convenient manner. They have special services for speedy transfers and for students looking to study abroad. Other than that, the transfers need to be for personal use only.

Money can be sent abroad for maintenance of close relatives, and the Reserve Bank of India has defined who falls into the definition of ‘close relatives’. It includes the sender’s spouse, or a member of their Hindu Undivided Family, which is a form of family business in India. Other relatives include parents, children and their spouses, grandchildren and so on. A list of 22 relatives other than the spouse has been mentioned.

As per the regulations, any resident of India, including a minor is allowed to remit up to USD 100000 per financial year, provided a proper reason is specified. For larger amounts, prior approval of the RBI is necessary, and this is not easy to acquire.

Being a foreign exchange dealer, they can offer good rates. But that is not something that the senders would bother, as finding a service that allows money transfer out of India is a difficult task.


Oct 022014

By Mohammed Waseem

Indian post office, Department of Post has made a money transfer service which is fast, convenient and accessible to all Indians. Generally, a person needs to visit a post office and fill the send money form before handing over the cash to the clerk. But here, the form can be downloaded and filled in before visiting the post office.

From a mobile phone, users can visit to access the postal services and download the forms. Any amount between INR 1000 and 10000 can be sent with this service. When the sender visits any of the post offices and hands over the form and the cash, the details are entered into the mobile application by the clerk and both the sender and the recipient receive a confirmation message with the transaction ID.

DOPThe sender also receives a secret code that has to be communicated with the recipient. The recipient can immediately visit any of the post offices and collect the cash by providing the transaction ID and the secret code.

Or amounts between 1000 and 1500, the fee applicable is INR 45 (fee+tax), INR 79 for amounts between 1501 and 5000 and INR 112 for amounts between 5001 and 10000. The recipient is required to collect the cash within 14 days of the transaction date, after which, the amount is returned to the sender.

The sender receives an SMS that the money was not collected and has to be withdrawn from a post office. The sender has 7 days from the date of receiving the SMS to collect the cash from a post office.

This service is called DOP Mobile Money Transfer and is called so because it enables instant money transfer from one place to another place using mobile, through Indian post offices. The difference, however is that the mobile app is not used by the sender to send money, but by a post office clerk to process the transaction.

Sep 112014

By Mohammed Waseem

I wrote about instant money transfer offered by Bank of India in the last post. This service requires the senders to be customers of BOI while the recipient can be just anyone. The unbanked are still away from instant money transfer, considering that the withdrawal should be done from a BOI ATM only.

Like Kenya innovated to create a product like M-Pesa, India is working on a product called OxiCash. Over 60% of the unbanked population will now be able to instantly send and receive money across India through this service. OxiCash was launched earlier this year by Oxigen Services. The service works via a mobile wallet, comparable with M-Pesa.

OxiCashIn addition, senders are able to send money from a bank account to the wallet. All transfers are instant and on real time basis. The project is a partnership between NPCI (National Payments Corporation of India) and Oxigen. The real time transfer is done using IMPS (Immediate Payment Service).

55 banks have joined in to support transfers from bank account to OxiCash wallets. It is available for use online at and on mobile using a mobile application on Android smartphones. In addition, the service can be accessed with SMS as well, to support non-smartphone users.

The service is available all over India and can be created over simple SMS. The wallet can be initially funded at over 100000 touch points or through IMPS.

Oxigen also has wallets to use for reloading mobile phones, DTH and other services, apart from money transfer. Money transfer from the wallet can be done in three ways, which are wallet to wallet, wallet to bank account using MMID (Mobile Money Identifier) and wallet to bank account using the account number.

The ability to transfer to any bank account is amazing. It uses the IFSC (Indian Financial System Code) to make this possible.

Sep 102014

By Mohammed Waseem

Indians are used to receiving money using Western Union and MoneyGram, when they talk about instant money transfer. A system exists to send and receive money between bank accounts within the country, known as NEFT (National Electronic Fund Transfer), but this requires at least 12 hours for the approval of a beneficiary and requires a day for the funds to be deposited to the beneficiary account.

Once the money has been deposited, the recipient is free to do whatever they want with it, as it is in their bank account. Banks have been less innovative, until recently, when Bank of India (BOI) announced the introduction of instant money transfer to anyone in India. When I say anyone, it includes those who don’t have an account with the bank as well.

Bank of IndiaThe service is available throughout the year and can be accessed at any time of the day, by both the sender and the recipient. Senders should, however be customers of the bank; they should have an account at BOI.

The service is ideal in cases where the bank details of the recipient are not know or the recipient doesn’t have a bank account, or even when the recipient prefers cash or needs the money instantly. Cash, here, refers to withdrawal from BOI ATMs, without using a BOI card; and in fact, without using any card at all.

The card-less cash withdrawal works with a mobile number. The sender has to provide the recipient’s mobile number, on which, partial transfer details will be sent. Rest of the details have to be communicated by the sender, personally. This ensures extra security and zero fraud risk. The sender provides the sender code to the recipient while the latter receives a PIN via SMS. Both of these have to be provided along with their mobile number at a BOI ATM to withdraw cash.

As per regulations, withdrawal limits of INR 25000 per month and INR 10000 per transaction apply per recipient. Once initiated by the sender, the recipient has 14 days to withdraw the cash, after which, it is cancelled and the amount is credited to the sender.

Aug 282014

By Mohammed Waseem

Bangladesh is a country in the Indian Sub-Continent, which has a lot of people working in the foreign countries. This necessarily means that the Bangladeshi expatriates are a good target market for sending money back home, from any country. The Middle East itself has over 5 million Bangladeshi expatriates working in different fields.

These expatriates periodically send money to their families and friends in Bangladesh. One of the services they use is bKash. It is a joint venture between US based company, Money in Motion and Bangladesh based BRAC Bank. It functions as a subsidiary of BRAC Bank.

bKash BangladeshbKash was introduced to address the need to make financial services available to everyone in Bangladesh regardless of the remoteness of their location. 70% of the Bangladeshi population lives in rural areas and only 15% have a formal connection with a banking system. It is also reported that over 68% of Bangladeshis have mobile phones. To make these mobile phones more than just devices to talk on, this service was introduced.

bKash utilizes the existing mobile telecom network to extend financial services to Bangladeshis in a secure environment. It is very convenient, fast, secure and affordable. In fact, it is quite well adopted by Bangladeshis around the world. They are operated and promoted by agents who have small business establishments.

bKash has also partnered with exchange houses in many countries including the UAE, Oman, Bahrain and the UK. To send money, Bangladeshi expatriates should visit a participating exchange house, a branch or an agent and fill an applicable form. They need to mention the recipient’s bKash account number, which is their mobile number without the international dialing code. Currently, the operators supported include Robi, Grameenphone, Banglalink and Airtel.

To receive money, the recipient should have a bKash account, which can be opened by visiting any bKash agent. There is no charge for receiving money, except for withdrawing money from a BRAC Bank ATM or from an agent. International remittance limit is BDT 50 to BDT 150000 per transaction. The higher limit is maximum allowed limit per day and per month. At any point, a bKash wallet holder can keep not more than BDT 150000. So the limits may differ based on this as well.

bKash is quite trusted and widely used by Bangladeshis, especially in the Middle East. Small hourly internet operators and other such vendors act as agents and facilitate money transfer.

Jul 212014

By Mohammed Waseem

Amidst the arguments on whether Bitcoin will replace the paper currency or not and amidst the fluctuations in value of a Bitcoin, small companies and coffee shops had begun accepting Bitcoin. Now, larger organizations have started to accept the virtual currency, probably seeing the potential it has. It has seen a high of over $1000 and a low below $200. At this moment, it is fluctuating between $621 and $622.

Multinationals including Dell, have started accepting Bitcoin for their products. With this, Dell has become the world’s largest ecommerce acceptor of Bitcoin. In addition, New York has proposed Bitcoin trading, called BitLicence, according to which, companies would require license to trade in Bitcoin. This is how they intend to regulate the virtual currency, which is otherwise unregulated.

Rebit.PhIt is not surprising to know that money transfer companies have begun offering Bitcoin transfers, in fact, few companies have begun offering “Bitcoin transfers only”. Rebit is one such company which allows people from around the world to transfer money to the Philippines through their Bitcoin wallets.

To send money, senders have to logon to Rebit.Ph, define the amount to be sent in ? (Philippine Pesos) and select the delivery option. After this, recipient’s details have to be provided along with the details of the sender. Delivery options available are in-person pickup (charged between ?5 and ?8), bank account transfer (free of cost), home delivery (between ?59 and ?120) or pickup at Rebit.Ph headquarters (free of cost). These are the third party fees charged.

Rebit charges 1% of the transfer amount as the fee. So, if one wants to send money to the recipient’s bank account, they are only charged 1% of the amount, but if they want it delivered to their home, they are charged 1% of the amount, plus a charge between ?59 and ?120. The maximum amount senders can send in ?50000 and minimum they can send is ?1000.

Once the sender completes the transaction, the recipient receives a text message about the transfer. The next day, they can collect the money or has it deposited into the bank account.

Although Bitcoin is gaining popularity and adaptability, it is not yet stable. Fluctuations and crises are common in the Bitcoin market; even experts make losses and wrong assumptions. This is mostly true due to the fat that the virtual currency is not regulated. New York has taken a step to regulate it, let us see who joins them and how far the virtual currency goes.

Jun 232014

By Mohammed Waseem

In my last article, I had discussed about a money remittance service offered by Shinsei Bank called GoRemit. The bank has another money remittance service for international money transfer, which is called PowerFlex. Like GoRemit, this service also offers remittance is 12 different currencies, but different. Both differ by the way they work and who can use the service.

Unlike GoRemit, PowerFlex can not be used by any Shinsei Bank customer who registers for GoRemit. PowerFlex is available to customers who have a PowerFlex account with the bank, which is a bank account with special features including zero ATM fee, zero fund transfer fee for one transfer per month, handling fees waived for one domestic banks transfers a month to accounts at other banks over the Internet and so on.


PowerFlex Account Welcome Kit

With PowerFlex, the account holder can register only one recipient and can not send money to anyone else with this service. Registration can be done in person by visiting a branch or by phone. Remittances also have to be initiated at the branch or by phone if the recipient is pre-registered. The funds are processed on the next working day after confirmation of availability of sufficient funds.

The fee charged is ¥4000 for every transaction after the first one, which is free of cost. This is unlike GoRemit, which has a ¥2000 fee for every remittance. However, fees charged by intermediary banks and beneficiary banks may still apply. Customers can also get a better exchange rate, depending on their level with the bank.

PowerFlex is best for individuals sending money to their families. They usually send money once every month, which makes this service ideal for them. This is true if they send it to one person only. It is expensive for sending more than once in a month, but for the fact that the first transaction is free, senders can save some money. In order to apply for a PowerFlex account at Shinsei Bank, residents of Japan can use this form.

Jun 212014

By Mohammed Waseem

Japan is well known in the world for quality electronics. It is also home to expatriates from many parts of the world, perhaps over 2 million in number. They have an excellent remittance service that allows residents to send money to over 177 countries in 12 currencies. It is called GoRemit; the service is operated by Shinsei Bank which is one of the largest Japanese banks.

To send money, remitters need to register with GoRemit, after which they are given a B-Link number which is used for sending money. Once registered, remitters can use any ATM (of any bank) to transfer money to Shinsei Bank from a Japanese domestic bank. They can also do this via internet banking. Once instructions to transfer are given and money is deposited, GoRemit begins the transfer. A fee of ¥2000 is applicable, which is converted into the currency being paid in (one of the 12 currencies). The funds are sent to the recipient by telegraphic transfer. Recipients need to be pre-registered by the sender on GoRemit’s website.

GoRemit, JapanIn addition, intermediary banks and beneficiary banks may also apply charges before clearing the funds. For the sake of transferring money, senders should be familiar with few Japanese terms, which can be known here. The fee for Yen transfers is slightly higher; in addition to the usual ¥2000, 0.1% of the amount is also chargeable, which is minimum ¥1500, so the fee is minimum ¥3500. Remittances in Indian Rupee (INR) have some special conditions including intermediary bank charges of 0.35%, which is minimum INR 350 and maximum INR 5000.

Money can only be sent from Japan, but not received through GoRemit. Additionally, at the time of sending money, users have to be in Japan. The remittance limits are set at ¥300000 per transfer, ¥300000 a month and ¥3600000 a year.

Due to the earthquake, there was a problem in GoRemit’s systems, which was restored successfully by Shinsei Bank. They keep close track of the systems and inform customers about outages due to natural disasters and other local problems, when they occur.

In order to register online, Japanese residents can use this link. And in order to register offline, instructions can be accessed here.