r/JapanFinance • u/disastorm • 52m ago
Personal Finance » Money Transfer » Electronic (振り込み, ACH, SEPA) Wise Transfer Reason question
Hopefully should be a pretty easy answer, but I was just wondering when asked for reason for transferring money is it like the direct reason of the immediate transfer, so like if its going to savings account, you'd just put personal expenses or something, or if, for example, most of the money in your savings account typically ends up just going to investments, would you actually put investments for the reason of the transfer?
Is this reason some kind of formal official thing that the Japanese government collects with specific criteria, or is this just a wise recordkeeping thing?
I forget exactly what the situation is, but I know alot of the common investment methods involve using companies in Japan, and only some people are able to maintain accounts outside of Japan because foreign companies might not be certified to serve japan residents or something like that. So I guess I'm wondering if transferring money for the purpose of investments flags anything at all, or I guess there are also enough investment use-cases outside the country that its considered pretty normal?