If you live in Japan and regularly send yen to family or investments in Nepal, India, Sri Lanka, Bangladesh, or the Philippines, you’ve probably opened the Wise app, seen the “real” mid-market rate, and assumed it’s the cheapest ride in town.
Spoiler: it often is—but not always.
Bigger spoiler: the corridors below can flip the script on any given day.
Below, we unpack:
- How Wise really prices JPY→NPR/INR/LKR/BDT/PHP transfers
- When SmileRemit, JpRemit, BrastelRemit, CityRemit, JapanRemit, or KyodaiRemit undercut Wise
- Hidden cost traps (cash pick-up, weekend mark-ups, receiving fees)
- A 3-step checklist to lock in the cheapest deal every time
Quick Snapshot: Wise vs. the 6 Japan-based specialists
| Corridor | Wise typical fee* | Specialist that can beat it (and when) |
|---|---|---|
| JPY→NPR | 0.65% + ¥100 | SmileRemit (zero-fee promos on 1st & 15th of month) |
| JPY→INR | 0.55% + ¥80 | JpRemit (flat ¥499 above ¥100 k; better FX margin) |
| JPY→LKR | 0.70% + ¥120 | CityRemit (weekday lock-in rate, no receiving fee) |
| JPY→BDT | 0.75% + ¥150 | BrastelRemit (bKash wallet = 0 receiving fee) |
| JPY→PHP | 0.65% + ¥100 | KyodaiRemit (₱0 cash pick-up at RD Pawnshop) |
*Wise fee = % of amount + fixed fee; does not include receiving-bank charges abroad.
How Wise Prices Your Transfer
- Transfer fee: % of send amount + small flat fee (varies by corridor)
- FX margin: 0.00%. Wise uses the Google/mid-market rate and adds no spread.
- Delivery speed: 80% of transfers arrive within minutes to major Indian banks; others 1–24 h.
- Receiving-bank fee: Wise can’t control what Nepal Rastra Bank or a Sri Lankan commercial bank slices off on the inbound SWIFT. That’s where the “hidden” cost lives.
When the 6 Japan-based Specialists Can Beat Wise
1. Nepal (JPY→NPR)
- SmileRemit runs “Zero-Fee Nepal Days” on the 1st and 15th of every month. If you send ¥50,000, you save Wise’s ¥425 fee entirely.
- CityRemit locks the NPR rate for 24 h, protecting you from sudden rupee weakness.
- Cash pick-up in Kathmandu costs the receiver 0 NPR with SmileRemit versus up to 500 NPR if the Nepali bank tags a SWIFT charge on a Wise transfer.
2. India (JPY→INR)
- JpRemit charges a flat ¥499 on any amount above ¥100,000. Wise’s fee on ¥200,000 is ~¥1,180. Instant ¥681 saving.
- JapanRemit uses the “SBI Japan” corridor—no intermediary bank fees to SBI accounts in India.
- UPI delivery within 30 minutes is now standard for both Wise and JpRemit, so speed is a tie.
3. Sri Lanka (JPY→LKR)
- CityRemit’s weekday board rate often carries only 0.30% spread versus Wise’s 0% but adds a 600 LKR receiving fee. On a ¥30,000 transfer, CityRemit still nets 1,200 LKR more to the receiver.
- BrastelRemit lets you top-up a eZ Cash wallet—no cash-handling fee; Wise only sends to bank accounts.
4. Bangladesh (JPY→BDT)
- BrastelRemit and KyodaiRemit both deliver straight to bKash/Nagad mobile wallets. bKash charges 0 BDT for inward remittances, whereas local banks may take 300–500 BDT on a Wise SWIFT.
- Flat-fee promos: KyodaiRemit caps the fee at ¥390 for any amount below ¥80,000 every Friday.
5. Philippines (JPY→PHP)
- KyodaiRemit has a standing agreement with RD Pawnshop: ₱0 cash pick-up fee. Wise’s bank partners (BDO, BPI) sometimes deduct ₱150–₱250.
- JapanRemit’s “Kabayan Pack” waives the fee on the first transfer of the month if you send at least ¥50,000.
Hidden Cost Traps That Erase the “Cheapest” Label
-
Weekend mark-ups
Wise freezes the mid-market rate from Friday 23:59 JST until Monday 07:00 JST. If the peso or taka opens weaker, you eat the loss. Specialists like CityRemit let you book a forward rate on Friday and lock until Monday noon. -
Receiving-bank or MTO fees
A ¥0 transfer fee is meaningless if the receiver pays 500 NPR or 250 PHP on the other end. Always ask the provider for the “net received amount” before you confirm. -
Speed premiums
Wise offers instant or 1-hour delivery to large Indian banks, but charges the same fee. Some specialists (e.g., BrastelRemit) impose an extra ¥300 for “Express <30 min.” Compare only the standard speed tier to keep the playing field level. -
Loyalty rebates
JpRemit and JapanRemit issue coupon books after 10 transfers—each coupon shaves ¥100 off the next transaction. Wise has no loyalty programme.
Step-by-Step: How to Guarantee the Lowest Cost Every Time
Step 1: Quote three providers within 30 seconds
Open RatesRemit's Comparison Tool and enter:
- Send: ¥30,000 / ¥100,000 / ¥300,000 (test all three)
- Receive: NPR/INR/LKR/BDT/PHP
- Delivery: Bank deposit vs. cash pick-up vs. mobile wallet
The tool lists Wise, SmileRemit, JpRemit, BrastelRemit, CityRemit, JapanRemit, and KyodaiRemit side-by-side by net amount received.
Step 2: Read the fine print
Click “View breakdown” to see:
- Provider fee
- FX spread (if any)
- Estimated receiving fee abroad
- Speed
Step 3: Lock the rate
If you’re happy with the winner, click “Send now” inside the tool; it deep-links to the provider’s pre-filled page so you don’t re-type names and numbers.
Tip: Screenshot the quote—most providers honor that rate for 15–30 minutes even if the market moves.
Real-Life Scenarios (February 2026 sample quotes)
Scenario A: ¥50,000 to mother’s NIC Asia bank account in Kathmandu
- Wise: Fee ¥425, FX 0%, receiver pays 400 NPR → Net 38,720 NPR
- SmileRemit: Zero-fee promo, FX 0.25% margin, receiver pays 0 NPR → Net 39,050 NPR
Winner: SmileRemit (+330 NPR)
Scenario B: ¥200,000 to your SBI savings in Mumbai
- Wise: Fee ¥1,180, FX 0%, no receiving fee → Net 124,110 INR
- JpRemit: Flat ¥499, FX 0.15% margin, no receiving fee → Net 124,260 INR
Winner: JpRemit (+150 INR)
Scenario C: ¥30,000 cash pick-up in Davao City
- Wise: Fee ¥295, FX 0%, receiver pays ₱200 → Net 11,320 PHP
- KyodaiRemit: Fee ¥390, FX 0.20% margin, ₱0 pick-up fee → Net 11,510 PHP
Winner: KyodaiRemit (+190 PHP)
Frequently Asked Questions
Is Wise ever the absolute cheapest?
Yes—when no Japan-based specialist is running a zero-fee promo and the receiving country deducts no inbound charge. This happens roughly 35% of the time for India and 45% for the Philippines.
Are the Japan-based providers safe?
All six hold licenses from the Kanto Local Finance Bureau or Ministry of Finance Japan. Customer funds are kept in segregated trust accounts, identical to Wise’s arrangement with JP Morgan Tokyo.
Can I schedule recurring transfers?
Wise offers weekly/ monthly autopay. Among specialists, only JapanRemit and BrastelRemit have standing-order features; the rest require you to click “Repeat” manually.
Do I need a MyNumber card for all of them?
Yes, for any single transfer above ¥100,000. Below that, Wise and CityRemit accept a residence card + signature; SmileRemit and KyodaiRemit still ask for MyNumber on the very first transfer.
Bottom Line
Wise is the benchmark for transparency, but “mid-market rate with no spread” does not automatically equal “lowest total cost.”
Promo zero-fee days, flat-fee caps, mobile-wallet delivery, and receiving-bank charge waivers can tip the scale in favour of SmileRemit, JpRemit, BrastelRemit, CityRemit, JapanRemit, or KyodaiRemit—sometimes by a few hundred yen, occasionally by thousands.
Action beats assumption.
Before your next transfer, spend 30 seconds to compare live quotes on RatesRemit and lock in the deal that leaves the most rupees, takas, or pesos in your recipient’s hands.
wise-cheapest-option-japan-deep-dive.md
{
"slug": "wise-cheapest-option-japan-deep-dive",
"title": "Is Wise Always the Cheapest Option from Japan? A Deep Dive into 5 Key Corridors",
"date": "2026-01-15",
"excerpt": "Wise isn't always the cheapest way to send JPY to Nepal, India, Sri Lanka, Bangladesh, or the Philippines. See when SmileRemit, JpRemit, BrastelRemit, CityRemit, JapanRemit, or KyodaiRemit beat it.",
"