I
live in Japan. I have bank accounts in Japan to get a monthly income and make regular
payments. Besides, I have bank accounts in the United States and Hong Kong to put
some of my money into different banks in different places with different
currencies to minimize the risk. I manage my assets in these countries because
there are more options for investment than in Japan.
A
consideration is how to transfer the money you get in Japan to a foreign bank
account. Wire transfer at a banking institute in Japan costs very much. I tried
some online international money transfer services. All of these services require
no less than 2,000 JPY of fee per transaction, so sending tens of thousand Yen
with these services is costly.
Having
two Paypal accounts can resolve this problem. I got two Paypal accounts with my
different email addresses and linked one of the Paypal accounts to a debit card
of the bank account in Japan and the other to the bank account in the US. When
money was credited to the Japan bank account, I logged in to the Paypal account
linked to the debit card and sent money with the debit card to the Paypal
account linked to the US bank account. Then I logged out and logged in to the
other Paypal account, and I withdrew money credited to the account to the US
bank account linked to the Paypal account. The fee is cheaper as long as you send
a small amount of money. However, you cannot send money from Japan to Hong Kong
because if you live in Japan, your Paypal account does not allow you to link to
any bank accounts in Hong Kong.
