NTT DOCOMO has announced that they would be the first mobile operator to bring overseas mobile remittances. This would let the NTT DOCOMO customers in Japan to transfer money in a local currency or USD from the DOCOMO Kouza account to a bank account or affiliated beneficiary financial institutions in Philippines, Brazil, South Korea or China.
NTT DOCOMO customers need to request the application form using mobile phone or i-mode via postal mail to resister for this service. After that, they need to fill the form and submit it with their ID proof. They need to deposit the amount to the DOCOMO Kouza account via ATM, mobile or Internet Banking.
Remittance to Philippines could be sent from the i-mode compatible DOCOMO phones and received via SMART Money which is a reloadable payment card with the receipt. Remittance to Brazil, South Korea or China could be sent from the i-mode compatible DOCOMO phones and received through the bank account or affiliated beneficiary financial institutions.
The charges per transaction is 1000 Japanese yen (US$ 12), which is cheaper than other international remittances. Remittance is limited to 500,000 JPY (US$ 6196) / month and 450,000 JPY (US$ 5576) /day and the minimum remittance amount is 7,000 JPY (US$ 86).
This service would be available from 7th July 2011 for the NTT DOCOMO customers in Japan and there is no monthly charge for using it. More smartphone support and remittance to other countries would be available in future.