MUFG vs SMBC vs Mizuho international transfers
The three megabanks compared on outgoing fees, FX margins, online access, currencies, incoming costs, and English support — with the shared caveat that specialists usually beat all three on small transfers.
MUFG has the lowest online outgoing fees (¥2,500–¥3,000) and English Web Support Plus, SMBC offers seven currencies with published ~¥1/USD margins, and Mizuho’s app transfer is ¥5,000 — but on small transfers a specialist usually beats all three.
Key points
- MUFG online: ¥2,500 to MUFG entities, ¥3,000 to other banks; recipient-paid fees only online; English Web Support Plus.
- SMBC online: ¥3,000/¥3,500; seven sending currencies; published margins ~¥1/USD and ~¥1.40/EUR; recall ¥4,000.
- Mizuho app transfer ¥5,000; branch ¥8,000–¥8,500; recall ¥5,500; My Number required at all three.
- For small transfers, fixed fees and FX margins mean a specialist usually beats all three megabanks.
Fees, FX, and channels
MUFG has the lowest online outgoing fees — ¥2,500 to specified MUFG overseas entities and ¥3,000 to other banks — but MUFG Direct supports recipient-paid fees only (a sender-paid correspondent option needs a branch). SMBC online is ¥3,000 to SMBC entities and ¥3,500 to other banks, offers seven sending currencies, and publishes FX margins of about ¥1 per USD and ¥1.40 per EUR, with recall/amendment at ¥4,000. Mizuho’s app transfer is ¥5,000, branch is ¥8,000–¥8,500, and recall is ¥5,500.
All three require My Number and beneficiary registration, and all are migrating to ISO 20022, which can add setup time. Incoming charges differ (SMBC generally ¥1,500 for foreign-to-yen; Mizuho generally ¥2,500), so check the receipt-time schedule — MUFG announced 2026 revisions.
Which to use
Among the three, MUFG is usually cheapest online for a straightforward recipient-paid transfer and offers English Web Support Plus; SMBC suits people who want seven currencies and published margins; Mizuho fits existing Mizuho customers using the app. For all three, large transfers make the FX margin the main cost, so ask about a negotiated rate.
The shared caveat: for small personal remittances, a specialist that collects and pays locally usually beats all three megabanks on total cost. Use a megabank when you need a SWIFT wire, formal proof, seven-currency support, or a large documented transfer.
Who this is for
- Megabank customers comparing international-transfer options
- People needing a SWIFT wire from a major bank
What this is not
- Small personal remittances (a specialist usually wins)
- Fee schedules are being revised in 2026 and setup times vary — reverify the current pages before sending.