Hi everyone,
I run a small money exchange/remittance setup between Mongolia and Japan:
• Customers deposit MNT in Mongolia.
• The equivalent JPY is paid out in Japan.
• All transactions go through bank accounts only.
The problem: Japanese banks keep closing the accounts.
Questions:
1. Has anyone obtained a Funds Transfer Service License (資金移動業者) in Japan for small-scale remittance? Any tips?
2. Has anyone worked as an agent for a licensed remittance company in Japan? How does that work in practice?
3. Are there banks in Japan more lenient for Mongolian ↔ Japanese transfers if the business is legal?
Any advice or resources would be appreciated!
by PaymentLow7560