Understanding Japanese Bank Transfers
Bank transfers are commonly used in Japan to move funds between bank accounts. The Japanese Bank Association (JBA) has defined detailed standards regarding fund transfers that include:
-
Bank transfer tape format.
-
Bank charges applied to transfers.
-
Consumption taxes assessed on bank charges.
In Japan, businesses can remit payment by electronic or paper bank transfers. To process any bank transfer, banks require:
|
Requirement |
Explanation |
|---|---|
|
Bank/branch number |
Every bank and bank branch through which a transfer is processed can be identified by a bank/branch number. Bank/branch numbers are assigned to banks by the JBA. Businesses should validate these numbers to prevent incurring a bank charge for the submission of invalid bank information. |
|
Payor and payee bank account information |
The bank account information for the payor and the payee consists of an account number and an account type. These account types are possible:
|
|
Bank transfer payor number |
A bank transfer number is assigned to each payor by the bank. |
|
Transfer type |
Businesses can select these transfer types:
|