Monex - name problems

[adobo_]

I hit the same problem some time ago. Monex registered all my names, but Shinsei didn't when I opened my bank account ten years ago.

I had to change my name with Shinsei, so that it's exactly the same name.

is shinsei your bank?? you changed your name? or you opened another bank account? anyways, thanks for the input!

i am not into changing the name on my bank account as i am using it for my payroll and other bills payment.

is there any other way?

thanks in advance!

[sutebayashi]

I feel your pain, brother / sister.

I use SBI Sumishin as my main bank, as I have a mortgage with them. Plus getting my salary paid there, etc etc, gives me a good rank and therefore 10 free bank transfers per month.

I use one of those free bank transfers to do an automated monthly payment to my Monex account.

When doing plain bank transfers (振込), you can specify the 振込依頼人名 name that Monex sees on the receiving end, so there is no need to have your bank account and Monex account names match exactly, when doing a bank transfer.

Your Monex page will have the info about the bank account you need to transfer into, should you want to try this method. It’s not instantaneous like the 即時入金 method, but it gets the job done.

EDIT: Monex has a q&a page about depositing money, and this method they refer to as 銀行振込
More here:
https://info.monex.co.jp/service/deposit/bank.html

[sutebayashi]

Oh yeah - I believe Monex can accept bank transfer deposits from a number of banks, so if Monex has an account with your bank, you may be able to do the deposit without a bank transfer fee.

For example, I also have an SMBC account, and do make the odd deposit to Monex from there. I think I use Monex’s SMBC deposit account, making that transfer free of charge (SMBC -> SMBC transfer)

[adobo_]

I feel your pain, brother / sister.

I use SBI Sumishin as my main bank, as I have a mortgage with them. Plus getting my salary paid there, etc etc, gives me a good rank and therefore 10 free bank transfers per month.

I use one of those free bank transfers to do an automated monthly payment to my Monex account.

When doing plain bank transfers (振込), you can specify the 振込依頼人名 name that Monex sees on the receiving end, so there is no need to have your bank account and Monex account names match exactly, when doing a bank transfer.

Your Monex page will have the info about the bank account you need to transfer into, should you want to try this method. It’s not instantaneous like the 即時入金 method, but it gets the job done.

EDIT: Monex has a q&a page about depositing money, and this method they refer to as 銀行振込
More here:
https://info.monex.co.jp/service/deposit/bank.html

thank you for your reply. i will read the link that you gave. hoping to find a way to transfer for free.

it doesnt matter if i have to do it manually every month but as long as the transfer fee is waived, it gives the motivation to do it manually

registering with monex took months as it is all done by mail due to long name issues, hoping to clear this problem and start my nisa account going.

[adobo_]

When doing plain bank transfers (振込), you can specify the 振込依頼人名 name that Monex sees on the receiving end, so there is no need to have your bank account and Monex account names match exactly, when doing a bank transfer.

regarding this,in the 振込依頼人名, I will input my LASTNAME, FIRSTNAME that is matched to the registered name in my monex account?

i already read the link that you gave earlier.
regarding the discrepancy in the name of the sender and the name of the monex account should be the same according to the link.

https://info.monex.co.jp/deposit/cant-accept.html

sorry to have so many questions as it is my first time to do this and all the insight from this forum is very very helpful to me.

[sutebayashi]

regarding this,in the 振込依頼人名, I will input my LASTNAME, FIRSTNAME that is matched to the registered name in my monex account?

Yeah, in your 登録情報 page at Monex (you have probably seen this to check your name so far but) your name is displayed probably with LASTNAME as ****** but the FIRSTNAME part should be there. Make the 振込依頼人名 value exactly as you understand Monex to expect it.

regarding the discrepancy in the name of the sender and the name of the monex account should be the same according to the link.

Indeed, I have often wondered about that… but in practice I know the bank accounts are mine as well as the Monex account, and have never been asked about a deposit I made to Monex, even if I changed the 振込依頼人名 a little to make for the match…

If you can do a free transfer with whoever your bank is, you might try with 1,000 yen first to demonstrate that it works, and then do a full amount once you’ve confirmed it.

sorry to have so many questions

Don’t be sorry, Monex the banks and maybe the regulators should be sorry
I hope that one day instead of worrying about checking innocent people for money laundering, the regulators would push for some sane guidelines in this name space, and solve these issues for everyone forever, once and for all…

[adobo_]

Indeed, I have often wondered about that… but in practice I know the bank accounts are mine as well as the Monex account, and have never been asked about a deposit I made to Monex, even if I changed the 振込依頼人名 a little to make for the match…

If you can do a free transfer with whoever your bank is, you might try with 1,000 yen first to demonstrate that it works, and then do a full amount once you’ve confirmed it.

i just did what you said here earlier even before you had replied to my post.
in 振込依頼人名 edited my name to match with my LASTNAME FIRSTNAME in my monex account. hoping for no errors or whatever regarding the name but have to wait until tomorrow as it is not immediately reflected on my monex account.

I am using MUFG and monex has an MUFG account so I am able to wire transfer for free. alleluia for online banking.

Don’t be sorry, Monex the banks and maybe the regulators should be sorry
I hope that one day instead of worrying about checking innocent people for money laundering, the regulators would push for some sane guidelines in this name space, and solve these issues for everyone forever, once and for all…

yeah, the banks are very strict to foreigners. hoping that they would be more open to revise their system for name space as more and more foreigners are living and working in Japan. and they can't deny the fact that the foreign students doing part time work, trainees and special skill workers in Japan are the one's covering for their shortage of workforce.

thank you sutebayashi-san for replying to my inquiries. will post an update once the wiretransfer is recieved on my Monex account.

[Gareth]

My name at Mizuho was just my first name and last name in the wrong order, first last. I decided to change it to my “correct” name with my middle name in the last first middle order.

But the bank staff said she could keep my “old” name “behind the scenes” so payments using that old name could still continue.

So changing your name at the bank might not be as mendokusai as you think if they can keep using your old name.

[adobo_]

When doing plain bank transfers (振込), you can specify the 振込依頼人名 name that Monex sees on the receiving end, so there is no need to have your bank account and Monex account names match exactly, when doing a bank transfer.

Your Monex page will have the info about the bank account you need to transfer into, should you want to try this method. It’s not instantaneous like the 即時入金 method, but it gets the job done.

UPDATE:

Successfully transferred money from my MUFG to MONEX. although i have to do it manually, i just have to edit my name to match it with my registered name in monex in 振込依頼人名. transfer fee is also waived.

thank you sutebayashi-san.

now i can start with my tsumitate NISA.

hoping that my case would be a guide to the future newbies like me. as this name problem will continue to be a problem for foreigners when transacting in Japan.

I can now also proceed to start my iDeco.

[sutebayashi]

Successfully transferred money from my MUFG to MONEX. although i have to do it manually, i just have to edit my name to match it with my registered name in monex in 振込依頼人名. transfer fee is also waived.

Glad to hear that worked for you!

I don’t use MUFJ myself, but it looks like they might be able to do automated transfers, too: https://www.bk.mufg.jp/tsukau/furikomi/ ... index.html

Doing it in automated fashion might even be preferable to the instantaneous method, since you probably don’t want to have to use the instantaneous method manually each month, anyway.

(Well, at least if you can do it for free.)