Finding a Company That Could Help Us

To receive a payment from Cameroon, we found a Bangladeshi-owned company in Japan that already does business with African countries.

The owner kindly offered to receive the payment on our behalf and then transfer it to us.


▶︎ A Possible Legal Issue
However, we were concerned that receiving and transferring money for another company might be regulated under Japanese law.

We therefore contacted Japan’s Financial Services Agency (FSA) to make sure that neither company would face legal or regulatory problems later.


▶︎ An Unexpectedly Kind Response

To be honest, after receiving several strict and unfriendly responses from banks, I was not looking forward to contacting another financial authority.


To our surprise, however, the FSA staff were very kind and helpful. They listened carefully and explained the rules in a clear and practical way.


▶︎ What the FSA Explained

Receiving money on behalf of another company and transferring it may be considered a funds transfer transaction.

A company that provides this service as a business generally needs either:

  • A banking license under the Banking Act, or
  • Registration as a Funds Transfer Service Provider under the Payment Services Act.

However, this would be only a one-time transaction. The FSA staff explained that registering a company solely for one transaction would not be practical.


▶︎ A More Practical Option

The FSA kindly directed us to an official list of companies that are already registered to provide funds transfer services.


We realized that the best first step would be to contact these registered companies and ask whether they could receive the payment from Cameroon on our behalf.


The official list is available here in Japanese:

https://www.fsa.go.jp/menkyo/menkyo.html


We are now reviewing the list and contacting some of the companies by phone.


▶︎ What Surprised Us Most

After so many difficult conversations with banks, we did not expect the Financial Services Agency to be so approachable.


Their kind and practical guidance was a very pleasant surprise.


English edited and translated with ChatGPT



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