Hello! I'll be traveling to Japan for the first time in May. I wanted to bring with me equivalent to $1000. I've done a little research on how to exchange currencies and I feel that the easiest (most convenient) way for me is to exchange USD to YEN through Wellsfargo. (I'm not familiar with travel checks at all and didn't want to use my credit/debit card over there). The only concern I have is that will I have trouble getting through customs with 78,000YEN on me? Thanks in advance.
hailstorm
Apr 1, 12, 2:10 am
Hello! I'll be traveling to Japan for the first time in May. I wanted to bring with me equivalent to $1000. I've done a little research on how to exchange currencies and I feel that the easiest (most convenient) way for me is to exchange USD to YEN through Wellsfargo. (I'm not familiar with travel checks at all and didn't want to use my credit/debit card over there). The only concern I have is that will I have trouble getting through customs with 78,000YEN on me? Thanks in advance.
US law allows you to carry up to $10,000 so this shouldn't be a problem.
But that's just 10 bills...couldn't you just carry that in your wallet?
5khours
Apr 1, 12, 2:30 am
Any amount is fine. You just have to report if it's over 1 million yen.
helenguyen4
Apr 1, 12, 2:34 am
US law allows you to carry up to $10,000 so this shouldn't be a problem.
But that's just 10 bills...couldn't you just carry that in your wallet?
I'll be converting USD to YEN here to take abroad. I honestly have no idea how thick of a stack Y78000 will be.
5khours
Apr 1, 12, 2:41 am
US law allows you to carry up to $10,000 so this shouldn't be a problem.
But that's just 10 bills...couldn't you just carry that in your wallet?
U.S. law allows you to carry any amount, you just have to report it if you have more than $10k.
I'll be converting USD to YEN here to take abroad. I honestly have no idea how thick of a stack Y78000 will be.
Depends on the denominations, but I would say your stack of bills will probably be less than 20 inches thick.
Honestly just take a credit and/or atm card.
lobsterdog
Apr 1, 12, 6:33 am
I'll be converting USD to YEN here to take abroad. I honestly have no idea how thick of a stack Y78000 will be.
That's 11 bills.
KPT
Apr 1, 12, 7:26 am
I second 5khours -- the FX market is always moving, so unless you really want to be able to quantify exactly how much you can spend while over there, it's really not worth it. Also, buyer protection from fraudulent items posting to your credit card account still apply even if you are abroad, so it's not like you're forfeiting that benefit.
Besides, as long as your Wells Fargo ATM card is MasterCard or Visa, you should be able to use the post office ATMs. Just ask your hotel front desk for the closest one, or search for 郵便局 on Google Maps (as long as the result has a link back to map.japanpost.jp, you're good to go).
Large department stores, hotels, and essentially any chain will also accept credit cards.
manneca
Apr 1, 12, 8:14 am
You can use the ATMs in the 7-11s and Citibanks too. I often carry $1000 US to developing world countries where I'm concerned about credit card/ATM use. I never carry extra money to Japan. As soon as I hit the airport, I head to the Citibank ATM and get cash. I don't have to worry about bringing home a lot of extra foreign currency. (Don't use the foreign exchange booths in airports.)
I'd double check the exchange rates and fees, too. I've found that it's way more expensive converting in the US than in banks overseas. ATMs generally will give you about the best exchange rates.
You can also find a bank that will refund ATM fees. I use Schwab bank. On my return from India, I found it had refunded about $30 in ATM fees. (I opened the account when Schwab had that wonderful 2% cash back visa card.)
hailstorm
Apr 1, 12, 8:24 am
That's 11 bills.
You can still find 2000 yen bills if you wish to condense.
Another alternative is 156 coins, which you could roll up and hide in your pants.
abmj-jr
Apr 1, 12, 9:32 am
Don't pay much attention to those who disagree with your plan to convert your cash before you go to Japan. I do the same thing and in fact have 50,000 yen in my desk right now preparatory to a trip this Friday. Just be sure to wait to get your cash shortly before you leave to get the best rate. You will not get quite as good an exchange rate as you would using ATMs in Japan but I think the convenience is worth $10 or $20. When I arrive, I am usually in a rush to get through the hassle of arrival and get on a train. Eliminating the lines at the bank stations or ATMs puts me ahead of all those folks when I get to the Rail Service Station. It is worth that extra to me. As always, YMMV.
Most banks that provide foreign currency service usually give you an option as to what types of bills you want. All large bills would mean the smallest "stack," but would be the least convenient, requiring you to change some for pocket money. Think all hundred dollar bills. Likewise, all small bills would give you a huge pile of 1,000 and 2,000 yen bills. I usually take the option for a mix of large and small, which means some 1k, 2k, 5k and 10k bills. My 50k is a stack of bills less than an inch thick.
Enjoy your trip to Japan.
lobsterdog
Apr 1, 12, 9:49 am
I don't understand why having Y70,000 in Y10,000 bills, and Y8,000 in smaller bills, would be inconvenient. You can use Y10,000 bills just about anywhere (except in some vending machines).
RichardInSF
Apr 1, 12, 10:01 am
Welcome to FT, helenguyen4!
I don't understand why you wouldn't want to use your ATM card in Japan. It's perfectly safe and efficient, lots of us (including me) have done it many, many times with no problems.
If Wells Fargo is giving you Y78,000 for US$1,000, that is a terrible exchange rate right now when the Yen is between 82.5 and 83.5 to the dollar. You will end up with more yen from the ATM. You probably would end up with more Yen exchanging dollars at a Japanese post office (the largest bank in Japan, and there is a post office at Narita airport).
I also agree with what everyone else is saying. No one will care if you bring this amount of cash in, and it won't take up much space at all. Wells Fargo will give it to you mostly in Y10,000 notes if for no other reason than people doing exchange always give you the biggest possible notes they can because it is less work for them!
Braindrain
Apr 1, 12, 10:02 am
Personally, I always carry between ¥100,000-200,000 whenever I go to Japan. These trips last no longer than 7-9 days. All mostly in ¥10,000 bills and I never have a problem using them. Other than using my CC at the hotel, I pay cash just about everywhere else. Considering Japan is still a mostly cash-prevalent society, I rarely come back with anything left.
NickW
Apr 1, 12, 10:10 am
You can use Y10,000 bills just about anywhere (except in some vending machines).
Yeah, this is one of those good things about Japan. No-one will bat an eyelid about making change for a ¥10,000 note. You can go into a convenience store to buy a ¥150 iced coffee and it won't be a problem.
gnaget
Apr 1, 12, 10:27 am
Personally, I always carry between ¥100,000-200,000 whenever I go to Japan. These trips last no longer than 7-9 days. All mostly in ¥10,000 bills and I never have a problem using them. Other than using my CC at the hotel, I pay cash just about everywhere else. Considering Japan is still a mostly cash-prevalent society, I rarely come back with anything left.
That's not true. I reside part-time here and hardly ever use cash. I probably use 5000 yen cash per month, typically.
Returning to the original question, I think it shows how much of a police state the US has become that someone asks this. And why you would throw away ~$70 to do this is quite odd to say the least. But it's not a lot of money and I guess Wells Fargo needs some charitable help as it works off its Golden West (?) and Wachovia loan books.
helenguyen4
Apr 1, 12, 11:43 am
Thanks all! I wouldn't mind using an ATM in Japan. It's just that I'm completely unfamiliar with anything over there that I'm afraid I'll be stuck without cash if I didn't bring any beforehand.
Will the post office ATM change me a fee to pull out cash? I'll have to see too if Wells Fargo will charge me a fee to use my card over there.
5khours
Apr 1, 12, 11:58 am
1. You're going to pay a fee no matter where you convert into yen (U.S. or Japan). The highest fees are for converting into cash. You'll pay double for cash you have to convert back into dollars at the end of the trip. The only way to avoid this is a credit card with no foreign transaction fees.
2. You can use a Cirrus card at any post office, Citibank or 7-11 (of which there are 13,000 in Japan and 1,700 in Tokyo).
3. You can you use a credit card at almost any store or business including convenience stores where it's quicker than cash.
4. You can pay for trains/ taxis with credit cards. On JR non-commuter trains, if you're in a rush they'll let you walk on without a ticket and pay on the train with a credit card.
5. There is no tipping at all in Japan.
Of all the countries in the world, there is less need of cash in Japan and it's easier to get than anywhere else.
WillTravel4Food
Apr 1, 12, 12:13 pm
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manneca
Apr 1, 12, 12:23 pm
Thanks all! I wouldn't mind using an ATM in Japan. It's just that I'm completely unfamiliar with anything over there that I'm afraid I'll be stuck without cash if I didn't bring any beforehand.
Will the post office ATM change me a fee to pull out cash? I'll have to see too if Wells Fargo will charge me a fee to use my card over there.
Here's a link to ATMs in the Narita airport. http://www.narita-airport.jp/en/guide/service/list/svc_12.html
If you're flying into a different airport, google the airport and ATM. Usually there's a button (on the ATM) to press for English.
I've almost never waited in line to use one (or if I have, it's only been one or two other people)
IIRC, you can use your visa card at HSBC and Citibank, but not Japanese banks.
gnaget
Apr 2, 12, 12:11 am
1. You're going to pay a fee no matter where you convert into yen (U.S. or Japan). The highest fees are for converting into cash. You'll pay double for cash you have to convert back into dollars at the end of the trip. The only way to avoid this is a credit card with no foreign transaction fees.
2. You can use a Cirrus card at any post office, Citibank or 7-11 (of which there are 13,000 in Japan and 1,700 in Tokyo).
3. You can you use a credit card at almost any store or business including convenience stores where it's quicker than cash.
4. You can pay for trains/ taxis with credit cards. On JR non-commuter trains, if you're in a rush they'll let you walk on without a ticket and pay on the train with a credit card.
5. There is no tipping at all in Japan.
Of all the countries in the world, there is less need of cash in Japan and it's easier to get than anywhere else.
A couple of caveats. A visitor had problems using US debit cards in Japan where there is no problem with foreign CCs. She tried two in a local restaurant and had to use a CC. I don't have any debit cards, so don't know if this is common. I don't think she had a problem in department stores, etc.
I have noticed that 7-11 sometimes does not accept foreign CCs or has a minimum for foreign issued CCs. I don't frequent 7-11 unless I am travelling in Japan. I encountered the minimum in Kyoto (the clerk expected that I was using a foreign CC when I was presenting a Japanese card) and in Hakuba (where there are lot of foreigners) there was a sign in English stating, no foreign CCs. But then, 7-11 is your best source for cash......
RichardInSF
Apr 2, 12, 12:53 am
Thanks all! I wouldn't mind using an ATM in Japan. It's just that I'm completely unfamiliar with anything over there that I'm afraid I'll be stuck without cash if I didn't bring any beforehand.
Will the post office ATM change me a fee to pull out cash? I'll have to see too if Wells Fargo will charge me a fee to use my card over there.
ATMs don't charge fees for foreign withdrawals in Japan (with the exception of 7-11 charging, I believe, Y250 to use a PLUS card) and they all use exactly the same exchange rate. However, only a small percentage of ATMs accept foreign cards. The easiest choices to find that do accept foreign ATMs are the post office and 7-11 machines. However there are a number of Citibank machines around Tokyo, including at Narita.
lobsterdog
Apr 2, 12, 1:37 am
3. You can you use a credit card at almost any store or business.
Another caveat - some restaurants don't take credit cards, so it's always a good idea to carry at least a bit of cash.
gnaget
Apr 2, 12, 12:11 pm
Another caveat - some restaurants don't take credit cards, so it's always a good idea to carry at least a bit of cash.
In my experience most restaurants, especially those that are moderately upscale, take CCs. Obviously not a ramen shop where you need to pay in a vending machine and get a ticket. But that's not going to set you back much either.
lobsterdog
Apr 2, 12, 1:55 pm
In my experience most restaurants, especially those that are moderately upscale, take CCs. Obviously not a ramen shop where you need to pay in a vending machine and get a ticket. But that's not going to set you back much either.
Yes indeed, more and more do, but some still don't. Last week dinner at an Italian restaurant in Kagurazaka was Y42,000 for six people, and it was cash only. And I was surprised when I had lunch at Mizutani - Y64,000 for four, cash only.
jib71
Apr 2, 12, 5:31 pm
an Italian restaurant in Kagurazaka
Which one?
Braindrain
Apr 2, 12, 8:47 pm
That's not true. I reside part-time here and hardly ever use cash. I probably use 5000 yen cash per month, typically.
It all depends on where you go to spend your money. I've got to go at least once with my FIL to one of those out-of-the-way, you-only-know-if-you-know type of restos that not only just takes cash, but writes the total on a small piece of paper.
There's no way ¥5000 would last me a month. Maybe a day...
gnaget
Apr 2, 12, 8:59 pm
Yes, I am curious too. A Japanese guy recommended Italian restaurants in Kagurazaka without being specific. The Michelin Guide has a lot of French restaurants in the area but no Italian. Also in the Bonnes Petites Tables guide but that's all French of course. That area is where French expats live. I highly recommend a bakery called Paul.
lobsterdog
Apr 3, 12, 12:09 am
Which one?
Da Michele. My friend who lives nearby took us. It was very friendly and okay for a neighborhood joint, but I don't think you'd find it in the Michelin Guide.
lobsterdog
Apr 3, 12, 12:13 am
Yes, I am curious too. A Japanese guy recommended Italian restaurants in Kagurazaka without being specific. The Michelin Guide has a lot of French restaurants in the area but no Italian. Also in the Bonnes Petites Tables guide but that's all French of course. That area is where French expats live. I highly recommend a bakery called Paul.
Paul is good. I always liked Stefano's for affordable Italian, although I haven't been in a few years.
mapleg
Apr 7, 12, 9:28 am
Thanks all! I wouldn't mind using an ATM in Japan. It's just that I'm completely unfamiliar with anything over there that I'm afraid I'll be stuck without cash if I didn't bring any beforehand.
Will the post office ATM change me a fee to pull out cash? I'll have to see too if Wells Fargo will charge me a fee to use my card over there.
Not difficult at all.. You just press the ENGLISH button and follow the English instructions.
Easiest thing is use the ATM's at Narita (to the left when you exit customs/immigration), or use them at 7-11 stores. Post offices also work but are not 24 hours. The Japanese machine will not charge a fee, but you own US bank likely will.
7-11's are ubiquitous in urban Japan (and the hinterland too!)
5khours
Apr 7, 12, 10:41 pm
Yes indeed, more and more do, but some still don't. Last week dinner at an Italian restaurant in Kagurazaka was Y42,000 for six people, and it was cash only. And I was surprised when I had lunch at Mizutani - Y64,000 for four, cash only.
In my experience, restaurants in this price range who don't take credit cards will usually accept business cards.
ainternational
Apr 8, 12, 5:06 pm
FWIW, you should certainly always respect the laws, especially when traveling. However sounds like OP is way under the bar here legally for either country. Nevertheless, as a data point, in over 40 entrances into NRT/HND in the last few years, I've never once been stopped by customs for more than the typical rudimentary question. Seems that the more immigration stamps I get in my passport, the less they ask. Never have had them go through my bags either.
However, returning to the US, at SFO, even with Global Entry, I'd say about 1 in 50 times I've been asked to go through a more detailed inspection.
Ironically, I find the normal security at NRT to be very picky though compared to domestic US. I had a small bottle of food taken from me in a carry on earlier today in fact at NRT in the priority security lane. When I kindly explained that it was under 3 ounces, he very kindly told me he was taking it anyway and promptly tossed it in the trash. This was due to a small amount of "liquid" (water) present in the jar. It was clearly under the limits that I understood observed in the US, but I didn't argue or complain with him. No major loss.
5khours
Apr 8, 12, 8:30 pm
Nevertheless, as a data point, in over 40 entrances into NRT/HND in the last few years, I've never once been stopped by customs for more than the typical rudimentary question.
+1. Been through customs in Japan close to 500 times. Never had a bag opened.
ainternational
Apr 8, 12, 8:49 pm
+1. Been through customs in Japan close to 500 times. Never had a bag opened.
500! Wow! Seems I have some catching up to do....
RichardInSF
Apr 8, 12, 11:27 pm
Had my bags opened once at Japan customs. It was my mistake, I went to a very young female inspector that time and apparently she was determined to show how thorough she was.
joejones
Apr 9, 12, 12:04 am
I am far from 500 entries but did have my bag opened once at NRT, when coming back from a trip to China. Not sure what they were looking for -- counterfeit goods, I guess.
(Also, on my very first entry to Japan as a high school exchange student, the inspectors opened my bags and charged me duty on a bottle of Jack Daniels that I had brought as a gift for the host father. Since I was under the drinking age at the time I wasn't entitled to an alcohol exemption.)
I have anecdotally heard that the inspectors are more vigilant toward people coming in from China. A colleague of mine returned to Japan from South Africa via Hong Kong, carrying a suitcase full of frozen meat. The customs inspector asked to open it, looked at the contents and said "Is this food?" He said "Yes, it is." The inspector said "OK, thank you," zipped it back up and sent him on his way...
hailstorm
Apr 9, 12, 12:12 am
I have anecdotally heard that the inspectors are more vigilant toward people coming in from China. A colleague of mine returned to Japan from South Africa via Hong Kong, carrying a suitcase full of frozen meat. The customs inspector asked to open it, looked at the contents and said "Is this food?" He said "Yes, it is." The inspector said "OK, thank you," zipped it back up and sent him on his way...
Hong Kong is China! Sort of...
5khours
Apr 9, 12, 3:48 am
500! Wow! Seems I have some catching up to do....
I'm probably a lot older than you. Just to date me...my first flight in was to HND.
ponder
Apr 9, 12, 6:30 am
I've passed through NRT 8 times in recent years and had my bags inspected on five occasions. Well, 6 if you count the time my bags failed to arrive on the same flight as me (my own fault for connecting through LHR T5 on its opening morning) and were sent to my hotel a day late complete with a note saying they'd been searched before delivery.
In each case the search has been reasonably thorough but didn't take long either - still made my intended NEX. I must just look naturally suspicious.
beep88
Apr 9, 12, 9:20 am
with my handful of arrivals in Japan, bags never opened at NRT(arriving from N.A.), Did get very thoroughly searched at FUK (arriving from KUL/SIN, case emptied and x-rayed, shoes removed and x-rayed - shoe horn provided), once at KIX(arriving from HKG).
Braindrain
Apr 9, 12, 7:37 pm
I've passed through NRT 8 times in recent years and had my bags inspected on five occasions. Well, 6 if you count the time my bags failed to arrive on the same flight as me (my own fault for connecting through LHR T5 on its opening morning) and were sent to my hotel a day late complete with a note saying they'd been searched before delivery.
In each case the search has been reasonably thorough but didn't take long either - still made my intended NEX. I must just look naturally suspicious.
Wow, while I haven't been through NRT 500 times, I've had my fair share and have never been searched. Even during my 1st time where I totally screwed up my immigration form and had no idea what to put in there since I was staying at a friend's place.
jpatokal
Apr 10, 12, 5:57 am
I've passed through NRT 8 times in recent years and had my bags inspected on five occasions.
As a dodgy long-haired student, my Customs inspection rate was 100%. Since I cut my hair and acquired a Japanese wife, my rate has fallen to 0%. So, yes, I suspect there's a wee bit of profiling going on...
5khours
Apr 10, 12, 11:07 am
As a dodgy long-haired student, my Customs inspection rate was 100%. Since I cut my hair and acquired a Japanese wife, my rate has fallen to 0%. So, yes, I suspect there's a wee bit of profiling going on...
Big time!
abmj-jr
Apr 10, 12, 8:24 pm
Agreed. I've never had a bag opened, either. They just wave me through. I look like everyone's grandfather or respectable great-uncle, which I suspect is the reason.
ainternational
Apr 10, 12, 8:54 pm
Funny posts. Especially about "acquiring" a Japanese wife... ;-)
hailstorm
Apr 10, 12, 8:58 pm
Funny posts. Especially about "acquiring" a Japanese wife... ;-)
That was obviously long ago, as the strong yen makes such an acquisition these days prohibitively expensive.
5khours
Apr 10, 12, 10:48 pm
That was obviously long ago, as the strong yen makes such an acquisition these days prohibitively expensive.
If you're in the market these days, it's probably cheaper to rent than to buy!;)
JDiver
Apr 11, 12, 8:23 am
I have used my Wells Fargo cash / ATM card in Japan many times (I've been traveling there since the early 1960s - even met my wife, from Connecticut, there). WFB charges me a $5.00 "foreign ATM fee" much as if I used it in the USA at a non-Wells institution, meaning I get as close to the withdrawal limit (for most, USD $300, iirc,) to minimize my fees. Today, I would withdraw ¥24,000.00 at the current rate, my "cost" now being ~1.6%, half of my credit card forex fees with most cards.
The exchange rate will be the day's commercial bank rate. (Your credit card will in most cases charge you a 3% forex fee, unless you have some of the few that do not, such as Citi AAdvantage Executive Card, Capital One, etc.)
I find CitiBank and Post Office (and 7-11 store) cash machines are the most ubiquitous and easiest to use. Be sure you have a four digit PIN, as six digit pins probably will not work, and keep it numeric. My first cash machine is usually the Citi cash machine in the arrivals hall at Narita / NRT.
Some cash is good to carry - small restaurants and other places are not likely to accept credit cards.
(I only wish the exchange were still $1.00 = ¥360 as it was 'way back then... our wedding reception cost $13.75, made to order two piece wedding dress $25, hat and veil $12.50; my bespoke suit from Jackson Miao tailors was under $50. ROFL!)
As to imports (from Japan Customs (http://www.customs.go.jp/english/summary/passenger.htm)):
Currency
If you are carrying cash or other means of payment exceeding 1 million yen, you are required to declare to Customs. Please ask the Customs officer at seaport as well as airport for a blank form.
In case you are still doing some planning, an excellent site is Japan Travel and Living Guide (www.japan-guide.com).
Thanks all! I wouldn't mind using an ATM in Japan. It's just that I'm completely unfamiliar with anything over there that I'm afraid I'll be stuck without cash if I didn't bring any beforehand.
Will the post office ATM change me a fee to pull out cash? I'll have to see too if Wells Fargo will charge me a fee to use my card over there.
5khours
Apr 11, 12, 11:14 am
(I only wish the exchange were still $1.00 = ¥360 as it was 'way back then... our wedding reception cost $13.75, made to order two piece wedding dress $25, hat and veil $12.50; my bespoke suit from Jackson Miao tailors was under $50. ROFL!)
Boy are you old!!!:D On my first trip the dollar had gone down to ¥330.
JDiver
Apr 11, 12, 12:52 pm
Hai! As the dive crew told me when I was diving newly hardened lava off the southwest coast of the Big Island of Hawai'i, I am truly "older than dirt". :D
I hope the OP finds the solution - some feel fine walking around with significant cash, others do not. At least Japan is one of the safest countries as far as personal safety is concerned.
Boy are you old!!!:D On my first trip the dollar had gone down to ¥330.