We have started offering the "USD deposit service"!

tmdjtt : I also want to withdraw some money.

まねきねこt tmdjtt : It would be great if I could deposit in US dollars, so that when I travel overseas, I can withdraw and make purchases in US dollars.

Moorton tmdjtt : So, the only option is to exchange it to Japanese yen and withdraw it. This does make me hesitate a bit . Although it is a service that I have been eagerly awaiting.

181357606 : Likewise. It would be much more convenient if I could withdraw in dollars after depositing.

blueridgecabiner : Which financial institutions allow transfers to accounts not in the account holder's name on the remitter's side?

TairaTyler : Foreign currency remittances, including dollars, seem to incur relatively high fees from the remitter (such as 3,000 yen with Sumitomo Mitsui SBI Net Bank). However, are there any good methods to deposit foreign currency here without incurring high fees?

大負けネコ(HYPER) まねきねこt : Hello.

As this is a whimsical "comment", please do not worry too much and take it as "one perspective".

Certainly, when traveling overseas, if there is a function to easily withdraw American dollars on the spot, it would be very convenient and easy as it would eliminate the need to worry about "foreign currency exchange hassles" or "exchange fees", so it is a function that can be endorsed.

However, do you not have one important concern to remember?

That is, in order to implement the "American dollar withdrawal function" in the moomoo securities app, it is necessary to have a new "settling function for held currencies" to withdraw funds in the moomoo bank with which moomoo securities are currently connected.

Many people may wonder "what is the concern?" about this. However, based on my experience, even with major "financial credit cards in Japan", specifically cards like VISA and Master in collaboration with megabanks (= such as VISA Amazon card), there have been instances of "unauthorized card usage" by a third party that I had no recollection of.

I have heard similar cases of "mysterious account deductions due to fraudulent use" from both myself and senior colleagues. Fortunately, myself and my senior colleagues all had the full amount refunded by the credit card company after reporting and explaining the situation.

The card that was fraudulently used was one that I had created about 3 years ago. The response from the card company on the Mitsui Sumitomo Card, VISA was quick! The credit card company first detected "usage in overseas which the user rarely uses" and notified the user (= me) via email that there may have been unauthorized usage payment. At the same time, they asked to "confirm the usage details and inform them of the confirmation results via email". Japanese credit card companies like this always take measures against concerns of unauthorized usage of their own cards and deal with it accurately. They even provided a "newly issued card with anti-fraud measures applied" for free and sent it immediately.

Can moomoo securities or moomoo bank provide such "safety measures and compensation against unauthorized usage"?

This case is an example of "misuse with cards created by declaring the cardholder's address, name, date of birth, and workplace". Due to the proliferation of apps in Japan that simplified the issuance process mentioned above and allowed for quick registration and use, there has been a rise in cases of "unauthorized usage in payment apps", and there is a perception that concerns about "app usage" have been widely reported.

As you may know, "VISA" is a "super famous company dealing with financial credit cards originating from America". I have had the experience of being rushed to the hospital in an ambulance in America decades ago. At that time, there was no "national insurance system like Japan" in America (= it should have been established during the Obama presidency). When asked for the "treatment payment" at the hospital, I was charged approximately $600 = about ¥90,000 in Japanese yen now (laughs).

At that time, as I didn't have "a large amount of cash on me", I took out a card from my credit cards and asked, "Is a VISA Card ok?". In response, the hospital staff gave a thumbs up (= this gesture is often done for "good acts") and said, "Perfect!". Since then, I prioritize my credit cards as follows: VISA, Master, JCB, ORICO, etc.

With my VISA credit card, there was unauthorized usage. In such times, it makes me think that even more careful choices are needed when using apps.

Oh, I've again gotten "too long with the comment"! Due to my habit of "simultaneously considering various things", while dealing with other things in the meantime, I forgot that I was in the middle of "inputting comments". Deeply reflecting on this.

Since this is a "long comment", you are fine not reading it️ Just remember it somewhere in your heart. I apologize for the lengthy and poor quality text. From a seemingly malicious? but well-intentioned contributor.

181357606 : Indeed, the $30 transfer fee (SBI Net Bank) is a bit painful. After selling dollars at a limit price, I plan to transfer to yen without transfer fees, and then consider whether to convert to dollars according to the exchange rate or make a yen purchase. I'm sure either option is better than transferring in dollars.

moomooサポート 181357606 : Dollar withdrawals are planned to be supported in the future. Thank you in advance.