n$a wrote:

> A 1.5% rate spread is fairly common. The spread would likely be
> somewhat less on a USD or EUR purchase. If the amount you transfer
> is large enough (5M¥ ? 10M¥ ?) they will not use the displayed rate
> (which is fixed in the morning), instead they will quote you a live
> rate (with the same spread).

I see.

> I don't think you can walk in a bank with 5M¥ in cash in hand and
> have it wired overseas. 

It is possible, or it was ten years ago; there's a Japanese bank just 
across the road from where I work where I did just that. It took a bit 
of paperwork, and their commission, etc., was higher than Lloyds, but 
they sent it for me.

> A ¥2000 commission is fair, i think it was ¥2500 minimum at Mizuho,
> anyway it is an extremely small amount compared to the rate
> difference you may have from one day to the next (or even one minute
> to the next if the quote is live) on a large wire.

Right. That was why I was impressed when sending money via the Post 
Office. They just checked the rate for that day and sent it at that 
rate, with no spread at all. Again, that was a few years ago now.

John
http://rarebooksinjapan.com