weConnect Resources
Internet Banking English Interface
Internet banking interfaces in Japan are generally in Japanese. Even for the few mega banks do provide English interfaces, they are not as robust as the websites in Japanese. In addition, the bank charges for English interfaces can be 6x higher than that of the Japanese interfaces.
Online SaaS application to provide view-only access
A cloud based application can be set up to enable the company to view their Japanese bank statement online in English. The application links to the company’s Japanese bank account and pulls data from the bank in real time.
MT940
If the parent company’s bank is a SWIFT member, setting up MT940 allows you to view bank balances and transactions on a daily basis through your SWIFT member bank account in foreign countries.
MT101
If the parent company’s bank is a SWIFT member, setting up MT101 allows you to request fund transfer from the parent company’s bank. However, this will incur a high bank charge. Cancellation or amendment of fund transfers can only be done in Japanese via FAX.
Key Takeaways
weConnect allows you to see and track your Japanese bank accounts in English without the high fees commonly charged by the bank.