Originally Posted by
Steve M
ATM's might be the easiest way, but I still think that travelers cheques are the cheapest in most cases.
You can exchange TC's at the airport for a 0.5% commission rate, whereas they charge 2.5% for cash. So, if you are able to get USD TC's for no commission or fee before you leave, your total conversion cost will be 0.5%.
Although it's possible to beat this with the right ATM card, the vast majority of US-issued ATM cards will charge at least 1% in foreign currency charges, plus in many cases a network ATM fee.
Note that this advice is for Japan only: in most countries, TC's are more expensive to redeem than cash or most ATM fees.
I have found that using an ATM at the post office is the best way for me. I have always gotten a decent rate (within about 2% of the market rate) and post offices are everywhere. No foreign transaction fee credit cards are alright, but Japan is a cash nation, and I find it much better to have a pocket full of yen then plastic. It is a bummer to miss out on miles, but cash is much easier, especially rurally.
That said, if you are dealing in large amounts of money, more research is necessary. It looks like folks here think that TCs work well. I have used them in Japan with ease. Plastic is much more inconspicuous to bring in country though.
If you are going from dollars to yen, my condolences. The yens a beast right now.