To transfer Japanese Yen into a Wise account it requires a SWIFT wire transfer to a Wise bank account in the UK. 

As far as I know, Wise doesn’t charge any fees for incoming wire and/or Swift transfers. However, does anyone know if there are any charges from intermediate or correspondent banks when transferring Japanese Yen currency into a Wise account?

21 hours ago, RSD1 said:

does anyone know if there are any charges from intermediate or correspondent banks when transferring Japanese Yen currency into a Wise account?

Won't this depend, as with any currency,, on the banks relationship or lack of to the receiving bank? 

I would suggest that there is a very good chance there will be extra fees but you should be able to ask the sending back what routing they would use and/or what they would charge if you take all costs.

6 hours ago, topt said:

Won't this depend, as with any currency,, on the banks relationship or lack of to the receiving bank? 

I would suggest that there is a very good chance there will be extra fees but you should be able to ask the sending back what routing they would use and/or what they would charge if you take all costs.

Yes, I already spoke to the sending bank. They looked on the system and told me that the system is suggesting JP Morgan Chase as the intermediary bank, but the sending bank told me that they don't have the option to choose the sending bank and also said that if Barclays could be used as the intermediary bank, then there would be possibly no extra charge, but again, it is not up to the sending bank. They said that they don't choose the intermediary bank and that I would need to speak to Wise. I've already sent Wise a support email to ask the question, but it can be days before you even get a response from them. You used to be able to just call and get phone support, but that's finished now. Nearly impossible to reach them other than by sending an email and then waiting for days. 

8 hours ago, RSD1 said:

They said that they don't choose the intermediary bank and that I would need to speak to Wise.

I would be surprised if the receiving entity would know but maybe they do.

As mentioned I think the only way to be sure on the costs is to ask the sending bank that if you took all the charges what the cost would be. I do this with my Swifts to Thailand after the first time when the supposedly "free" transfer came with a $50 intermediary bank charge. 

Following is the reply that I received from Wise, along with the two links they sent me which are posted below it.
 

This basically doesn't really answer any questions. But in conclusion, I expect, if you wire transfer JPY into your Wise account, that it will cost you about $25-$40 for the correspondent bank fee. 

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Thank you for your inquiry. To transfer Japanese Yen (JPY) into your Wise account, it would indeed require a SWIFT wire transfer to your Wise bank account in the UK.

 

While we do not charge any fees for incoming wire or SWIFT transfers, please be aware that correspondent or intermediate banks may apply their own fees. These fees are outside of Wise’s control, so it’s always a good idea to check with the sending bank or intermediary banks for any potential charges before making the transfer.

 

Please note that we do not provide local account details for holding a JPY balance. However, you can receive JPY along with other currencies using your GBP Swift account details.

 

You can receive the following currencies into your GBP Swift account:

AED, GBP, EUR, USD, AUD, BGN, CAD, CHF, CZK, CNY, DKK, HKD, HUF, ILS, JPY, NOK, NZD, PLN, SEK, RON, SGD, UGX, and ZAR.

 

For more information on how to receive non-GBP currencies via SWIFT check here.

 

Should you have any more questions or need assistance, feel free to reach out.

 

Best regards,

Wise Customer Support

 

https://wise.com/help/articles/3KEJruODkhi59TZbSxO2xn/what-are-swift-usd-correspondent-fees

 

https://wise.com/help/articles/3TLlYBP6W8m2aNZJZd3EpK/how-to-use-gbp-details-to-receive-other-currencies-via-swift