Seven Bank International Money Transfer Service

Seven Bank International Money Transfer ServiceInternational Money Transfer Service

Inquiries

Frequently Asked Questions

If you have any queries about International Mioney Transfer Service, please refer here.

How to apply

Q What are the identification documents required to register for Seven bank account and apply for International Money Transfer Service?

A

Documents that are required for submission are Identity Verification Documents (where your present residential address is noted) and documents related to Individual Number (My Number).
For further details, please refer here (in English).

Q What is "MTCN?"

A

"MTCN (Money Transfer Control Number)" is a transaction number issued when an international money transfer request (using International Money Transer Service with Western Union) is made.
This is an important number that must be provided at service counters when receiving funds.
Please do not tell anyone other than receivers your MTCN. Seven Bank will not be liable for any damages arising from the use of the Money Transfer Control Number (MTCN) or other transfer details by any third party other than you or the receiver.

Q Can I apply for the International Money Transfer Service when opening a Seven Bank account?

A

Yes, you can apply for the International Money Transfer Service when opening a Seven Bank account. More information can be found here.

Q How do I apply for the International Money Transfer Service?

A

You will need to have a Seven Bank account and register for the International Money Transfer Service.
More information can be found here.

Q What documentation will I need to apply for the International Money Transfer Service?

A

Identity verification documents such as Residence Card and Documents related to Individual Number or My Number are required.

  • *Identity verification documents may sometimes not be required.

More information can be found here.

Q Can I apply for the International Money Transfer Service from a Seven Bank ATM?

A

No, we do not accept applications through Seven Bank ATMs. You will first need to apply in order to use the International Money Transfer Service.
More information can be found here.

Q What are the screening standards applied when signing up for the International Money Transfer Service?

A

We apologize, but we do not publish information about our screening standards.

Q Can I register for the International Money Transfer Service without opening a Seven Bank account?

A

No, you will need to open a Seven Bank Account.

Q What conditions exist regarding the usage of the International Money Transfer Service?

A

The International Money Transfer Service may only be used by individuals satisfying all conditions below.

  • Must have a Seven Bank account
  • Must be 18 or older when applying for the International Money Transfer Service
  • Must have satisfied screening standards prescribed by Seven Bank

Q I want to designate the receiving currency for the International Money Transfer (Cash Pick-Up), what should I do?

A

When registering for the additional receiver, currency can be designated by choosing from the prescribed foreign currency of Seven Bank.
More information about "Country and Currency" can be found here.

Please note that for Philipine Money Transfer service with BDO Unibank, the receiving or payout currency is available only in Philippine PESO.

About international money transfer service

Q What type of service is the International Money Transfer Service?

A

It is a service to transfer money from a Seven Bank account to a receiver overseas who has been registered in advance.
You need to apply to open a Seven Bank account and register with the International Money Transfer Service in advance to use it.

Q I want to know the transfer fees for using the International Money Transfer Service (Western Union).

A

For details of transfer fees for the Cash Pick-Up method, see HERE.
For details of transfer fees for Bank to Bank transfer, see HERE.

Q Where can I find out about money transfer rates for the International Money Transfer Service (Western Union)?

A

You can run a simulation of the money transfer rate on the Home screen of the International Money Transfer app. You can also change the currency that is displayed on the app through the Payout Currency Settings listed on the menu.
Download the app from HERE.

You can also run a simulation of the money transfer rate on the Seven Bank website. See HERE.

Q How do I add (or delete) an international money transfer receiver?

A

Follow one of the procedures below to add or delete a receiver. You need to register a receiver in advance.

  • Note: You need to register for Direct Banking Service to use procedures (1) and (2). Register for Direct Banking Service HERE.
  • (1)Smartphone App
    • Log on to the international money transfer app, and add or delete a receiver from the [Additional Receiver] menu. Download the International Money Transfer app from HERE.
  • (2)Direct Banking Service
    • Log on to the Direct Banking Service, and add or delete a receiver from the [International Money Transfer] menu. Log on to the app from HERE.
  • (3)Customer Center

Q I have registered additional receiver for international money transfer, how can I check if it was succesfully processed?

A

You can verify via receiver's information screen of Direct Banking Service (Online Banking) or at the ATM screen.

Q Where can I check my international money transfer statement of account?

A

Please check the "International Money Transfer" menu from the Direct Banking Service.You can confirm your past transactions in the last three months. To log on to Direct Banking Service, visit here. (To log on from your smartphone, go here)
For those who have not yet registered to the Direct Banking Service, please use the "Register for First Time Users".
To see the how-to guide for Direct Banking Service "Register for First Time Users" (in English), visit here.

In addition, statement receipts can be issued. (Issue Fee: For 1 year statement 1,080 Yen)
Please contact our Customer Center if you wish to receive statements of account

Q I want to cancel my Seven Bank account and International Money Transfer Service.
What should I do?

A

You may contact our Customer Center as paper processing is required. In this regard, if the Account of a customer is terminated, all the services in use by the customer shall also be terminated.

Q What is the timing for the exchange rate used in international money transfers?

A

As a general rule, the exchange rate used is that prescribed by Seven Bank at the time an international money transfer request is received from the customer. (The exchange rate that is used will be displayed on the ATM screen or the Direct Banking Service screen when the transfer is made.) However, depending on the receiver's country, the rate used may or may not be the rate that is current at the time funds are received.
Click here for information about the main countries to which international money transfers are made.

Q I want to send an International Money Transfer from overseas to a Seven Bank account. What is the SWIFT code?

A

Seven Bank accounts cannot be used to received money transfers from overseas. There is no SWIFT code.

Q Can I make international money transfer with cash?

A

No, transfers cannot be made with cash. Please initiate transfers after depositing the funds in your Seven Bank account.

Q Are funds sent through international money transfers deposited into overseas receiver's accounts?

A

The relevant amount will be credited to the receiver's bank account in China and the Philippines as long as the receivers are registered in advance.
Please confirm here about the available banks for Deposit into a Bank Account.

Q How many international money transfer receivers can I register?

A

Up to 12 receivers can be registered.

Q Can international money transfers be made to corporations?

A

No, international money transfers cannot be made to corporations.

Q How do I check my MTCN (Money Transfer Control Number) for international money transfers (with Western Union)?

A

This can be done through either of the methods below.

  • (1)When making a international money transfer from a Seven Bank ATM
    • Your MTCN is noted on the receipt issued when making the transfer.
      Please be sure to store your receipts in a safe location to ensure they are not lost.
  • (2)When making a international money transfer through the Direct Banking Service
    • Logon to the Direct Banking Service, and check your MTCN from the "Statement" under "International Money Transfers".

You can access the page directly from this link.

Q When depositing funds using International Money Transfer, why is it required to contact the China Hotline?

A

As part of crediting procedures for transferring funds to a bank account in China, the receiver's information needs to be verified on the very first transaction so the receiver must call the dedicated China Hotline.

Q I want to change or correct the receiver's name, what should I do?

A

Please perform any of the following procedure:

  • (1)Via Online Banking (Direct Banking Service)
    • After you log onto Direct Banking Service, perform the procedure by opening the page for registering additional receiver from the "International Money Transfer" menu.

      However, you cannot change or edit parts of the already registered receiver information. Please delete first the receiver information you want to change. Please re-register the correct information after completing the change procedures.

      You can directly log on to the said page from here.

  • (2)Via (International Money Transfer App)
    • After you logged into the International Money Transfer App, please tap on "Add Receiver" on the home screen. You can download the International Money Transfer App here.
  • (3)Via Customer Center
    • Please contact the here.

Q How are the business hours and service language support of China Hotline?

A

China Hotline operates 365 days a year, and the operating hours are currently from 8 am to 8 pm.
Services are available in English and Chinese.

How to send money

Q I want to know ways to transfer money with the International Money Transfer Service (Western Union).

A

For details of ways to transfer money using the International Money Transfer Service (Western Union), see HERE.

Q Can I conduct international money transfers from Seven Bank ATMs?

A

Yes.
For International Money Tranfer Service with Western Union, you can send money through Seven Bank ATMs or Direct Banking Service.

  • *International money transfers made from Seven Bank ATMs will incur a transfer fee, and a separate ATM service (withdrawal) fee may apply depending on the timing of money transfers using an ATM.

For Philippine Money Transfer Service with BDO Unibank, Seven Bank ATMs cannot be used. Sending money using this service is available only through the International Money Transfer App (smartphone app).

Both services require that you apply first to open a Seven Bank account with Internartional Money Transfer Service.
More details can be found here.

Q Can funds be transferred from overseas into Seven Bank accounts?

A

No. Seven Bank accounts cannot be used to received money transfers from overseas.

About restriction of sending money

Q When using the International Money Transfer Service, are there any limitations regarding the international money transfer purpose?

A

Money may only be sent to individuals that satisfy standards prescribed by Seven Bank.
Money transfer for commercial purposes, purposes that involve payment of import bills, or other such purposes not prescribed by Seven Bank is not permitted.
Seven Bank does not allow international money transfers that come with restrictions that require we first get permission or approval, submit documentation, register something, or otherwise verify information beforehand in accordance with the Foreign Exchange and Foreign Trade Act.

More information can be found here.

Q What are the international money transfer limits?

A

Limits are as follows.

  • Per transfer/day/month (between the first and last days of the month): 1,000,000 Yen
  • Per year (from January 1 to December 31): 3,000,000 Yen

However, the receiver's country may have limits lower than these.

How to receive money

Q How long does it take for the money to be received after transaction of international money transfer?

A

("For Cash Pick-up" at an agent location)
Money is available for collection in a few minutes. However, please note that money transferred can only be received during the business hours of the agent locations. (*4)

("For Deposit into a bank account" to China and the Philippines: based on the regular business days of the receiving bank)
To the Philippines: Immediately or within 2 business days. To China: the same day or within 2 business days.
However, a predetermined procedure is required when making your first deposit into the designated bank accunt of the receiving bank in China. For further details, please confirm here.

Q Where can international money transfers be received?

A

International Money Tranfer Service wirh Western Union
【For Cash Pick-Up】
Money transfers can be received at any of Western Union's more than 500,000 cash pick-up locations in about 200 countries (As of December 31, 2016).

【For Bank to Bank】
The relevant amount can be credited to the bank account within China and the Philippines using the service provided by Western Union. More information can be found here.

Q I want to know the business days of the payment centers and receiving banks etc., for international money transfers, what should I do?

A

You may confirm at the relevant payment center or the receiver's bank.

How to cancel or amend transaction

Q Can international money transfers that have already been sent be canceled?

A

Yes, as long as they have not yet been received at the destination or deposited into the bank of the receiver. To cancel a international money transfer, please contact the Customer Center.

As a general rule, any fees paid will not be refunded.

Q Can details about an international money transfer be changed?

A

No, transfer details cannot be changed.
If you need to make a change, please cancel the transaction and initiate a new transfer.
As a general rule, any fees paid will not be refunded.

Others

Q How Seven Bank will handle the documents to be submitted related to Individual Number or My Number?

A

We strictly manage and protect all identity verification documents we received. For documents related to Individual number (My Number), we have established a more strict management system. In addition, we will properly dispose of such personal information as soon as expressed purposes are completed.

Q What type of card is the debit card?

A

The debit card is a convenient card that can be used to shop with instead of cash from your bank account.
Unlike a credit card, the money you spend is instantly withdrawn from your account balance, so you can make payments like it was cash.

Q I cannot log on to the International Money Transfer app.

A

You need to register for Direct Banking Service and set a logon password. After registering for Direct Banking Service from the logon screen, you need to set a logon password from the Menu screen.
If you cannot log on to the app after setting it up, contact the Customer Center.

For Registration and Inquiries about International Money Transfer Service

Customer Center (English / Toll Free)

Mondays thru Fridays 10:00~20:00
Saturdays, Sundays and Public Holidays 10:00~17:00
(Except 1/1~1/3)