Originally Posted by
rworne
I have a question for the frequent travelers here:
I may want to stock up on JPY on the upcoming trip. I bank exclusively through my Credit Union, which does not offer foreign exchange services - so they are out of the picture.
How can I convert USD to JPY without getting fleeced at the usual places? A lot of the banks in the outlying areas of Tokyo that used to do it now no longer do (per my wife that is already there). What I typically do while there is use my Suica on my iPhone and charge it with my no-fee Explorer card, but this does not help me with obtaining cash, just using less of it when out and about. I am open to doing the exchange in the US or in Japan, but I've never seen a US based currency exchange that offered decent rates.
If you think the rate will continue to drop (meaning US dollar getting stronger) then you can just wait until you get to Japan, and use your ATM card to withdraw cash (or just use your US credit card). If you want to lock in today's rate, then the best I can think of is to charge up your Suica. But I don't know what the cap is on that, or whether you can get multiple transportation type cards (交通系ICカード) on your phone. I would think you can - Suica and Pasmo are just 2 that come to mind. I find that these payment types are becoming more and more widely accepted so it's like a partial hedge.