Japan — SWIFT/BIC Codes & Payment Info

Please ensure that you have obtained all necessary bank information from the Beneficiary, including SWIFT BIC, account number, and the beneficiary bank address. In Japan, there are two clearing systems for yen payments: Zengin for domestic payments and FXYCS for international payments. For Zengin payments, the maximum amount per transaction is JPY 9,999,999,999. Payments must be entered without decimals to avoid rejection. Resident companies must report non-trade related transfers exceeding JPY 30,000,000. For outbound payments, please confirm that your transaction does not relate to sanctions against specific regions and input the code 'NNKNI' in your payment instructions to declare compliance. For further details, refer to the central bank's website: Bank of Japan.

For cross-border payments involving Japanese Yen (JPY) accounts and foreign currency accounts, both residents and non-residents can open accounts.

Additional Documentation: For over-the-counter transfers exceeding JPY 100,000, Japanese ID confirmation law requires banks to verify the customer's name, address, and birthday with a government-issued ID, unless the customer is an existing account holder.

Payment Formatting Rules:
- Ordering Customer (SWIFT MT103 F50): Include account number, full name (no initials), and full address of the ordering customer. Avoid using initials to prevent delays.
- Beneficiary Customer (SWIFT MT103 F59): Include account number, full name (no initials), full address, and telephone number of the beneficiary. Initials may cause delays. Also, include both the account number and the account type. Account types include: Saving (“S”), DDA (“D”), Chochiku (“C”), and Others (“O”). The account type is mandatory and must precede the beneficiary account number. Example: S1234567. The exact account name in the local language is required and must match the account name recorded at the beneficiary bank.
- Purpose of Payment (SWIFT MT103 F70, 72, 77B): Provide the Purpose of Payment for all cross-border payments. Include Country of Origin, Place of Shipment, and Name of Goods for import/intermediary trade payments.

Use the JPMorgan Chase Bank, N.A., Tokyo Branch Payment Purpose Code List: View the list or refer to the International Balance of Payments Headings by the Bank of Japan (Japanese Only): View the list if codes are missing, transactions may be delayed or rejected.

Format for payment purpose: /REG/MOF,[4-digit of Payment Purpose Code]
Example: /REG/MOF,0421

If the payment is related to importation of goods or intermediary trade, use the following format: /REG/MOF,[4-digit of Payment Purpose Code],[2-character ISO Country Code of Origin],[Place of Shipment],[Name of Goods]
Example: /REG/MOF,0071,CN,GUANGZHOU,AUTO PARTS

For transactions over JPY 1,000,000, purpose of payment is required in SWIFT MT103 F70, F2, or F77B. Confirm with the beneficiary bank the appropriate field to avoid delays.

Payment Formatting Rules for FXYCS (International/Cross-border Clearing System):
Beneficiary Bank (SWIFT MT103 F57): Include SWIFT BIC with branch location, full name, and full address.
SWIFT BIC format: xxxxJPxx or xxxxJPxxxxx

Beneficiary Customer (SWIFT MT103 F59): Require account number, full name (no initials), full address, and telephone number. Initials should be avoided to prevent delays.

For outbound payments from a Tokyo branch account, enter “FXYCS” on its own line in F72.

Payment Formatting Rules for Zengin (Domestic Clearing System):
Beneficiary Bank (SWIFT MT103 F57): Use the format /ZN followed by a 7-digit bank/branch code. Example: /ZN0402001

Additional Notes:
- Lifting fees are standard practice in Japan, calculated as a percentage of the transaction value (around 1/20% of the payment amount).
- JPY is a zero-decimal currency.
- Payments to Post Bank (JPPSJPJ1XXX) are not supported.
- Accurate customer identification data (customer name, address, account number, or transaction reference number) must be provided for cross-border payments.