I have been living and working in Japan for a few years and have accumulated a sizable amount of money(about 100k$ worth) in a Japanese bank account(Yen currency).
I am now about to go back to live in Canada and would like to transfer this money to my Canadian bank account.
I have made a few researches to find the safest/cheapest way to do so.
If a wire transfer is possible between the 2 banks(not confirmed yet).
It is my understanding that there would be something like a flat fee of about 20$ on both ends + I would lose about 4-5% from ridiculous bank currency conversion rates.
If I use some P2P website, I would lose about 0% from conversion rates but lose about 0.5% flat rate + probably the 2x20$ bank transfer fees. This option seems pretty good thought I am not sure how reliable and safe it is.
I am still searching and learning to make sure I do this right. I am not too knowledgeable about finance so this is a little bit complicated for me. It is hard earned money and would be quite sad to lose 5k of it due to bad transfer choice...
I would be quite appreciative for information about what would be a good way to transfer my money safely without losing too much in the process due to exchange rates and flat rates.
Time is not a problem for me and I am willing to wait a long time if not just for the most favorable transfer rates.