Currency Exchange Experience
Hi all.
Not sure if anyone still cares about information regarding currency exchange, but during my most recent trip to Japan, I exchanged USD for Yen through three different methods:
1) The currency exchange booth near my work place, which I exchanged for a few hundred dollars worth of USD, had the worst rate after service fee. I did not bother trying to order Yen through my bank (Bank of America), as the rate they quoted to me was terrible and would take time.
2) The currency exchange booth at Haneda Airport, operated by Mizuho Bank. The exchange rate is the market rate minus 3 Yen if you are buying Yen , so at the exchange rate at the time, it's about 1.5% service fee, give or take, so it was all right.
3) The debit card from Simple (online bank), using Japan Post ATM. The exchange rate is the market rate, but VISA takes 1% exchange fee; however, it is still the best rate during my trip. It does have the daily limit of $500 USD, so I could only withdraw about 50,000 Yen.
I know some debit cards such as the ones from Capital One 360 checking accounts don't even have VISA exchange fee, but I did not have accounts with them so I can't say for sure.
I did not try the local currency exchange booths in Japan (such as Daikokuya) but I will give it a try next time. Hope this helps.