Cash-back program for Customers receiving foreign exchange remittances
cash-back on fees which will be charged for incoming foreign exchange remittances
December 10 2019
Starting from remittances received on Monday, December 16, 2019, due to the revision of our handling fees for incoming overseas and domestic foreign currency remittances and overseas and domestic Japanese yen remittances*1, Shinsei Bank will return 2,000 yen per receipt of an incoming foreign exchange remittance to customers satisfying the eligibility and conditions specified by the Bank (virtually free of charge*2).
The Cash-back program will apply an unlimited number of times for each incoming remittance. Cash-back will be credited to customers' account by the end of the following month from the date of receipt of funds to customer's account.*3
- *1 Overseas and domestic Japanese yen remittances: Refers to yen-denominated remittances from overseas or non-residents of Japan.
- *2 The handling fee for incoming foreign exchange remittance is an amount equivalent to 2,000 yen. However, the handling fee for Shinsei Platinum and Shinsei Gold customers will be virtually free of charge because 2,000 yen will be returned to them by the end of the following month. Foreign currency-based handling fees are determined so that they are equivalent to 2,000 yen. The fees are reviewed regularly since their amounts translated into yen change due to fluctuations in foreign currency exchange rates.
- *3 Customers who have terminated their account by the cashback date will not qualify.
Eligibility and Conditions for Cash-back Program
- 1. The customer’s stage under Shinsei Step Up Program is either “Shinsei Platinum” or “Shinsei Gold” when the customer's Shinsei Bank account has received the foreign remittance.
- 2. Debiting the handling fee from your account is completed.*4
- *4 Shinsei Bank will not deducted the handling fee when it is paid by the sender. Cash-back will not apply in this case.
Shinsei Step Up Program
Currencies that can be deposited and Incoming foreign exchange remittance administrative Fees (Handling fees)
Foreign currency-based handling fees are determined so that they are equivalent to 2,000 yen. The fees are reviewed regularly since their amounts translated into yen change due to fluctuations in foreign currency exchange rates.
As of December 4, 2019
Currency to be deposited
(Currencies available at Shinsei Bank) |
Handling fee (Tax-exempted） |
| Japanese Yen |
JPY 2,000 |
| US Dollar |
USD 18.00 |
| Australian Dollar |
AUD 26.00 |
| Canadian Dollar |
CAD 24.00 |
| Sterling Pound |
GBP 14.00 |
| Hong Kong Dollar |
HKD 145.00 |
| Norwegian Krone |
NOK 160.00 |
| New Zealand Dollar |
NZD 28.00 |
| Singapore Dollar |
SGD 25.00 |
| Euro |
EUR 16.00 |
| South-Africa Rand |
ZAR 278.00 |
| Turkish Lira |
TRY 111.00 |
| Chinese Yuan |
CNY 125.00 |
Chinese yuan can be deposited only when it is sent within Japan. Brazilian real cannot be deposited.
Remittance financial institutions or intermediary banks may charge fees separately from the handling fee.
The handling fees for incoming foreign currency remittances will be deducted separately from the incoming foreign exchange remittance amount.
The handling fee will be deducted or debited from one of the following in the following order of priority: (1) the incoming funds (2) savings account of the same currency as the incoming funds (3) yen savings account. Customers cannot designate the currency for the handling fee.
(3) In case of debiting the handling fee from customer's yen saving account, 2,000 yen will be debited regardless of the currency received. The remittance will be returned to the requester if (1) funds received, (2) the amount of the saving account of the same currency with the funds received and (3) yen saving account are smaller than the amount of the handling fee. (1),(2), and (3) cannot be combined.
Customers who have terminated their account by the cashback date will not qualify.
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