Due to local regulations in Japan, if your address is registered in Japan, a default holding limit of 1 million JPY equivalent across all of your balances will apply.
However, it's possible to temporarily increase this holding limit. For instance, if you need additional holding money to send or spend for a certain period of time. We call this your custom holding limit.
Both holding limits apply to personal and Wise Business accounts in Japan.
How do I increase my holding limit?
If your registered address is in Japan, you can increase your holding limit by setting up a custom holding limit. You can choose any amount and duration for your custom holding limit:
Up to a maximum of 20 million JPY
And for a maximum duration of six months
Setting up your custom holding limit:
Go to your account limits. Alternatively, you can also tap on your profile name, and select Limits from the list of options.
Select JPY hold limits
Select Change your JPY holding limit
Insert your new amount and duration, and select Continue
Confirm your new amount and duration. If you agree, select Confirm new limit
Your new custom holding limit will apply immediately for the duration you selected. After that period, your custom holding limit will automatically reset to the default limit of 1 million JPY.
When can I change, increase, or decrease my custom holding limit?
Your custom holding limit resets automatically to the default limit of 1 million JPY on the date you indicated when setting up your custom limit.
You can change, increase or decrease the duration and amount of your custom limit at any time, but only if you're holding 1 million JPY or less across your balance.
Because of regulations, if you wish to change, increase, or decrease your custom holding limit, you'll first need to ensure your amount across all currencies you're holding is 1 million JPY or less.
What happens if I exceed the holding limit?
If your total holding amount exceeds your default limit or your custom limit — whichever is bigger — we’ll send you a reminder via e-mail, and you'll have to refund the excess to an account you own.
You'll have 30 days from the moment where your total holding amount starts exceeding the limit to either:
Manually transfer money out of your account, until the total holding amount goes back below your default limit or custom limit — whichever is bigger
Set up an external bank account so that we can automatically transfer the excess amount to an account you own. See below how to set that up
If your total holding amount keeps exceeding your default limit or your custom limit for 30 days or more, and you don't have an external account set up, we’ll need to restrict your account.
While restricted, you won’t be able to receive or add money to your account.
How do I set up an external account?
By setting up an external account, we’ll be able to transfer out any excess money when you’re exceeding your default or custom limit.
Your external bank account must be in your name, and denominated in JPY, EUR, SGD, USD, GBP, NZD or AUD. It can't be a Wise account.
You can only set up your external account from the web. You can't set it up from your mobile device. To set up your external account:
Go to Recipients
Select your external bank account, or add a new one
Toggle on My Account
An External account option will appear, select Set Up and follow the next few steps.
Once you have set up your external account, all future excess amounts will be sent to this account.
What do I do if I’m restricted?
If you exceeded the holding limit for more than 30 days, we'll have to restrict your account.
But, you can always set up an external account so that we can transfer your excess funds out. Or you can send money from your balance by yourself.
Once you transfer your excess funds out, we’ll remove the restrictions from your account. Make sure to manually reactivate your account details for each currency so you can continue receiving money to those accounts.
Someone sent me money while my account was restricted
If you received any money while your account was restricted, you'll receive your money after your account restriction has been lifted.
How do I calculate my current holding amount if I’m holding a different currency?
If you hold money in other currencies, we’ll calculate the value in JPY using the mid-market rate.
For example, let’s say you have:
500,000 JPY in your JPY balance, and
5,000 USD in yours USD balance
With an exchange rate of 1 USD = 135 JPY, your USD equals 675,000 JPY — which gives you a total of 1,175,000 JPY.
You can always see your current holding amount by going to your account limits page, and selecting JPY hold limits. Your current holding amount in JPY will be shown.