Cels Forum

1. Yes.  Need cash and you might not get same fee prices as
customers. (Other bank fee US$40; My bank $40 - No savings)
2. 3-5 days normal.  But longer possible.  My bank uses NY bank.
NY bank uses correspondent bank in Japan.  Correspondent bank in
Japan makes transfer to recipient's local bank.
This can be a problem.  I don't know details but it appears
that bank-to-bank transfers within Japan do not
necessarily happen automatically.  That is, the recipient may
have to fill out some paperwork to complete the transfer.
Otherwise, the money ends up stuck in the Japan correspondent
bank.
3.Doesn't matter.  If transferring in US$, remember to use sell
rate ($ to yen rate, i.e., lower rate) since recipient bank
converts $ to yen.  The yen to $ rate is irrelevant in this type
of transaction.  My local banks will only transfer in US$.
4. You will fill out wire transfer form.KEEP IT!  If money is
misdirected, it is only proof that you supplied correct info.