Originally Posted by
aaron1262
Does anyone know how much it costs to use my ATM card in Japan? Around how much would it cost to withdraw money using my international bank cash card such as Bank of America? And does it give favorable exchange rates? I've done it in other countries but just not Japan
Off the top of my head, there's a fee of $2-3 and they take a 2-3% spread on the exchange rate. If you wire transfer money or deposit a foreign check, the exchange rate spread is usually 1% or so. This makes the ATM more economical for smaller sums of money and interbank transfers more economical for larger sums.
One solution is to get a credit card from CapitalOne. Their entry-level card, with no fee but a sky-high APR (make *sure* you pay your bill), is really easy to get even without a credit history. You can use it in Japan without fees, and the exchange rate spread is just 1%. Credit cards are not as ubiquitous here as they are in the US, but you can still put train tickets, groceries, clothes, etc. on your card.
Right now im leaning still towards opening a Shinsei account..I was looking at the website and it says i cannot be a "temporary visitor"...My student visa would not be under that category right?
No, it wouldn't be. Temporary visitor is the status you get when you enter as a tourist.
For the record, although Shinsei won't let you open an account as a temporary visitor, most other banks don't care about your visa status as long as you have a certificate of alien registration. I know for a fact that SMBC gives accounts to temporary visitors, and I'm pretty sure MUFJ does as well.