- Campaigns & Offers
- Reward on Incoming Foreign Currency Remittances
No entry is required
To celebrate the achievement of 600 billion yen in Foreign currency deposits, Sony Bank is offering "Reward on Incoming foreign currency remittances" with additional rewards. If you have foreign currency at other financial institutions inside or outside Japan, you have a chance to earn up to 200,000 yen cash reward or 120,000 ANA miles by remitting foreign currency to your Sony Bank account!
- ANA Mileage Club / Sony Bank WALLET holders will receive ANA miles instead of cash. For details, please visit the campaign page on our Japanese-language website.
Campaign page (information in Japanese only)
- Since information about the ANA Mileage Club / Sony Bank WALLET is only available in Japanese, please visit our Japanese-language website for more details, including the contact information.
Sony Bank WALLET application page (information in Japanese only)
Campaign Period: January 4, 2024 (Thu) to March 29, 2024 (Fri)
- For incoming foreign currency remittances from other financial institutions, additional time may be required between the time the funds arrive at Sony Bank and when they are deposited to your account. Please allow for this when making your transaction.
- Even if the deposit is not credited before the end of the campaign period, as long as the remittance arrives at Sony Bank by March 29, 2024 (Fri), and the deposit is credited to your account by April 19, 2024 (Fri), the remittance will be eligible for this campaign.
- Remittances between Sony Bank accounts are not eligible for this campaign.
Eligible Currencies / Reward
| Eligible Currencies |
|---|
|
US Dollar, Euro, British Pound, Australian Dollar, New Zealand Dollar, Canadian Dollar, Swiss Franc, Hong Kong Dollar, South African Rand, Swedish Krona Incoming foreign currency remittances in Brazilian Real and Chinese Yuan (CNH) are not eligible for this campaign. |
Reward
Cash rewards are awarded according to the amount of foreign currency remitted to Sony Bank.
The eligible transaction amount is calculated according to Steps 1–3 of "Method for Determining the Reward".
| Transaction Amount | Cash Reward |
|---|---|
| More than 1 million yen but less than 5 million yen | 5,000 yen |
| More than 5 million yen but less than 10 million yen | 8,000 yen |
| More than 10 million yen but less than 30 million yen | 20,000 yen |
| More than 30 million yen but less than 50 million yen | 60,000 yen |
| More than 50 million yen but less than 100 million yen | 100,000 yen |
| More than 100 million yen | 200,000 yen |
Criteria
Transactions must meet ALL of the following three criteria.
(1) Deposit made to Sony Bank's Foreign currency savings account via foreign currency remittance from other financial institutions inside or outside Japan during the campaign period.
The name of the remitting account holder is not required.
You will be notified via email that the funds have reached Sony Bank. Please follow the procedures stated in the email to receive your funds. If you do not have foreign currency savings account for the currency in which the incoming remittance is denominated, you will be able to open such an account at the same time you perform the procedures for receiving the remittance.
(2) During the campaign period, "the sum of the total deposit amount of Incoming foreign currency remittances from other financial institutions" minus "the sum of the total withdrawal amount of Outgoing foreign currency remittances" must exceed 1 million yen, when converted to Yen.
Foreign currency remittances amount eligible for the reward are calculated as the total deposit amount of Incoming foreign currency remittances from other financial institutions to Sony Bank minus the total withdrawal amount of Outgoing foreign currency remittances from Sony Bank during the campaign period. Foreign currency remittances to another Sony Bank account will also be counted as the withdrawal amount of Outgoing foreign currency remittances.
Outgoing foreign currency remittances from Sony Bank are dated based on the date the remittance is requested, but if the remittance is not carried out due to the customer later canceling it, or some other reason, it will not be included in the reward calculation.
(3) If there are multiple incoming foreign currency remittances from other financial institutions during the campaign period, at least one of the remittances must amount to 1,000,000 yen or more on a Yen-equivalent basis.
The Yen-equivalent amount will be calculated on the basis of TTM at 0:00 AM on December 20, 2023 (Wed). (The rate used to calculate the Yen-equivalent amount will be determined as described in the following "Method for Determining the Reward" section.)
Method for Determining the Reward
- Step 1: Calculate the foreign currency remittance amount for each currency.
- During the campaign period
-
The sum of the total deposit amount of Incoming foreign currency remittances in the given currency from other financial institutions
－
MinusThe sum of the total withdrawal amount of Outgoing foreign currency remittances in the given currency
- Step 2: Convert the amount of each currency from Step 1 to its yen equivalent at the following rate.
-
The calculations will be made on the basis of TTM at 0:00 AM on December 20, 2023 (Wed).
Eligible Currencies Conversion Rate US Dollar 144.09 yen Euro 158.12 yen British Pound 183.49 yen Australian Dollar 97.43 yen New Zealand Dollar 90.17 yen Canadian Dollar 108.02 yen Swiss Franc 167.27 yen Hong Kong Dollar 18.47 yen South African Rand 7.85 yen Swedish Krona 14.16 yen - Step 3: Add together the Yen-equivalent amounts of each foreign currency amount as determined in Step 2.
- Please see below for a detailed example of how the Yen-equivalent amount is determined.
Example of Determining the Ineligibility for the Reward
Example: The customer receives Incoming foreign currency remittances from other financial institutions to Sony Bank, and carries out Outgoing foreign currency remittances from Sony Bank during the campaign period.
Note
Example below is not eligible for the reward because the total Yen-equivalent amount is less than 1,000,000 yen.
- Step 1: Calculate the foreign currency remittance amount for each currency.
-
- USD
- Transaction Date: Jan. 12
Transaction Amount: 60,000 USD Deposit
Transaction Date: Mar. 4
Transaction Amount: 40,000 USD Withdrawal
Deposit Amount for Each Currency: 20,000 USD - AUD
- Transaction Date: Feb. 19
Transaction Amount: 30,000 AUD Deposit
Deposit Amount for Each Currency: 30,000 AUD - NZD
- Transaction Date: Mar. 18
Transaction Amount: 60,000 NZD Withdrawal
Deposit Amount for Each Currency: -60,000 NZD
- Step 2: Convert to the Yen-equivalent amount at the conversion rate.
-
Convert to the Yen-equivalent amount at the conversion rate Yen-equivalent Amount 20,000 USD × 144.09 yen 2,881,800 yen 30,000 AUD × 97.43 yen 2,922,900 yen -60,000 NZD × 90.17 yen -5,410,200 yen Sum Total of Yen-equivalent Amounts 394,500 yen - Step 3: Determine the reward based on sum total of Yen-equivalent amounts.
-
Total Yen-equivalent Amount is determined to be 394,500 yen Total Yen-equivalent Amount less than 1,000,000 yen.
Not eligible for the reward.
The reward is determined based on total deposits (converted to Yen-equivalent amount) during the campaign period.
Reward Method and Timing
- An email notification will be sent to eligible customers prior to the cash reward payment. Please note that the email may not be delivered due to issues with your email address or email provider.
- This campaign is subject to change or cancelation without notice.
- If Sony Bank determines that a customer has been moving funds back and forth multiple times from the same source of funds, these transactions will not be eligible.
- For eligible customers, the cash will be credited into their Sony Bank Yen savings accounts no later than early May 2024.
- Even if all eligibility requirements are met, if Sony Bank deems a transaction to be fraudulent, the customer will not be eligible for the reward.
FAQ
- #1 How to remit my foreign currency to Sony Bank?
- A: Please follow the Guide "Incoming foreign currency remittance" from our English Website.
- #2 Does it matter who the remitter is?
- A: The name of the remitting account holder is not required.
- #3 Can I deposit foreign currency by fund transfer or by Partner ATMs in Japan?
- A: No, Fund transfer or ATM deposits are for Yen transactions only. Please follow the Guide "Incoming foreign currency remittance" from our English Website, to remit your foreign currency to Sony Bank.
- #4 I've remitted 1 million Yen worth of foreign currency to my Sony Bank account. However, the amount deposited to my Sony Bank account is less than 1 million Yen-equivalent, due to the lifting fees charged by intermediary banks or correspondent banks. Will I be eligible for the reward?
- A: The reward is determined based on total deposits (converted to Yen-equivalent amount) during the campaign period, and Yen-equivalent amounts must exceed 1 million Yen. Therefore, if the amount of your total deposits during the campaign period is less than 1 million Yen-equivalent, you will not be eligible for the reward.
Important
- Regarding this campaign
-
- No entry is required.
- Please note the following policies regarding Foreign currency remittances
-
- If intermediary banks or correspondent banks charge lifting fees, these will be deducted from the amount of the deposit to the beneficiary's account.
- When receiving incoming remittances from other financial institutions, procedures may take a certain number of days, depending on each financial institution. Please allow enough time for the remittance to be fully processed and deposited to your account within the campaign period.
- Please direct any inquiries about the status of a remittance to the originating bank.
- Customers under the age of 15 may not receive foreign currency remittances to their accounts. (Foreign currency accounts are for account holders age 15 and up.)
- Sony Bank reserves the right, whenever it is determined to be necessary, to require the customer to explain the purpose of a foreign currency remittance.
Remitting Foreign Currency to Sony Bank (Incoming Foreign Currency Remittances)
- Please note the following policies regarding Foreign currency transactions
-
- In principle* Sony Bank supports buying and selling foreign currencies 24 hours a day. However, for certain designated times of day, which vary depending on the day of the week, transactions are not available.
Foreign Currency Trading Hours
Excluding times when foreign currency transactions are not available, system maintenance, etc.
- If you are not yet a Sony Bank account holder, you will need to open an account first.
- You will receive a cash card within approximately 10 business days from completion of the account opening procedures. Foreign currency savings accounts can be opened after you sign in to our English online banking.
- In principle* Sony Bank supports buying and selling foreign currencies 24 hours a day. However, for certain designated times of day, which vary depending on the day of the week, transactions are not available.
- Risks of Foreign currency deposits
-
- Foreign currency deposits are inherently exposed to the risk of fluctuations in the foreign exchange rate. Movements in the foreign exchange markets may result in the amount of the principal at the time of deposit differing from the amount you receive at the time of withdrawal, when converted to the same currency at those two points in time, which constitutes a risk of loss of principal. In addition, when buying or selling foreign currency, an exchange fee will be incurred, due to which, even in the absence of exchange rate fluctuations between the time of deposit and the time of withdrawal, the amount of principal at the time of withdrawal may be less than the amount at the time of deposit
- Foreign currency deposits are not covered by deposit insurance.