Yes, T/C seems to mean traveler's checks in Japan.

And if you're wondering what bank charges a flat $3, it's ICBK, the Canadian division of a Chinese mega-bank. Not so "mega" in Canada, though- 2 branches in/near Vancouver and I think 4 or 5 in/near Toronto. But hey, with an account with unlimited transactions for no fee or minimum balance it's a sweet deal for someone like me who visits every so often.

And as a bonus, it's UnionPay- less worrying about finding an ATM that'll take your card, since you can use some of the Japanese big-bank ATMs as well (and Aeon, and Bank of Kyoto ATMs).