How to transfer funds from Japan to the UK for a London property deposit

Buying a property in London from Japan involves moving a huge sum of money across the two countries. If planned right, the process is simple and straightforward. There are a few crucial things to get right, which include your bank’s transfer requirements, the JPY to GBP exchange rate, source of funds checks and the timing of the payment.

In this guide, we will explain how to send money from Japan to the UK - what sort of details your bank will require and how to avoid losing the deposit amount or time in the process.

Thinking of buying in London? Our UK property buying guide for overseas buyers covers the process.

Step-by-step: sending your deposit from a Japanese bank

Most buyers send funds through one of Japan’s major banks: MUFG, SMBC or Mizuho. The steps are similar across all three.

Confirm your solicitor’s client account details.

• Your UK conveyancing solicitor will give you their client account bank details.
• Make sure you transfer funds only to this account.
• Confirm the details by phone using an independently verified number, rather than relying on email alone, to reduce the risk of fraud

Notify your bank of the transfer in advance.

• For a large property transfer, contact your bank in advance to confirm the required procedure, documents and transfer limits.
• Check your bank's current transfer limits. Check if your payment needs to be arranged online or through a branch. For a large property deposit, do this well before the payment deadline.

Submit the transfer request with full documentation.

• Your bank can ask you for the purpose of the transfer and supporting documents. This can be particularly done for a large transaction. Your UK solicitor may separately ask for evidence showing where the deposit funds came from.
• Have these documents ready before you begin the process.

Confirm SWIFT and correspondent bank details.

• Use the exact SWIFT/BIC and account details provided by your UK solicitor. Depending on the banks involved, the deposit payment can pass through intermediary banks, with additional charges applicable.
• Ask your bank whether they use a correspondent bank account & whether this adds extra processing time or fees.

Track the transfer and confirm receipt.

• Make sure you get the SWIFT reference number.
• Share this number with your solicitor so that they can confirm the receipt and match the same against your file.
• Make sure you add this buffer into your UK property deposit from Japan timeline.

Compliance checks you can expect

• Source of funds verification. Your UK solicitor will need to carry out identity and anti-money laundering checks. They ask you to provide evidence of the source of your deposit funds.
• You may need to present payslips, tax returns, savings account statements or a gift letter (if a family member is contributing).
• Vague or incomplete answers can lead to delays.

Foreign exchange reporting. Under Japan’s Foreign Exchange and Foreign Trade Act, transfers exceeding JPY30 million generally require a formal report, subject to exemptions.

• Ask your bank which reporting requirements apply and what documents you need to submit.
• This is a routine compliance requirement and does not, by itself, indicate a problem.

Anti-money laundering (AML) checks. UK solicitors and Japanese banks both run AML checks independently.

• Expect identity verification, proof of address and questions about the origins of the large sums of money.
• Ensure the documents are ready in English or have certified translations ready.

For hands-on support, including help with translated documentation, our London property buying services local team in Japan can help.

Managing remittance limits & conversion costs

• Transfer limits vary by bank and transfer method. Additional checks or approval requirements may also apply.
• Online services can have much lower limits than branch-based foreign remittances. Check the applicable limit before you arrange your payment.
• Make sure you plan for additional checks rather than assuming a same-day transfer.

Here are a few practical ways to protect your money:

• Lock your exchange rate early. JPY/GBP rates move daily - if your bank or a specialist FX provider offers a forward contract or rate lock, ask whether it is suitable for your circumstances once your deposit is confirmed. This way, a rate swing won’t leave you short at completion.
• Compare your bank’s rate against a specialist FX provider. Compare the total cost of converting JPY to GBP, not just the advertised exchange rate. Check the exchange rate, transfer fee and any intermediary or receiving-bank charges.
• Avoid last-minute transfers. Rushed transfers can get less favourable rates. They can also create less time for compliance checks - both can cost you money.

Plan the transfer before the purchase

• One of the biggest mistakes a remote property buyer can make is treating the funds transfer as a purchase formality. As soon as you are seriously considering buying property in London from Japan, start the conversation with your bank and solicitor.
• If you have questions about your deposit transfer, contact the Benham and Reeves Japan Desk directly.