Money exchange in Japan have good rates?
Jun 30, 2019, 11:19 pm
#1
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Money exchange in Japan have good rates?
I noticed that I can exchange usd in some places like Southeast Asia at a favorable rate (1-3%) while other places like Europe have higher exchange fees (6-10%). Does anyone know what the best rates are in Japan? I'm landing in Narita and spending my time in Sapporo (via cts airport). Thanks.
Jul 1, 2019, 12:48 am
#2
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It seems that most tourists these days just withdraw cash as needed from ATM machines using their personal bank cards. I have a feeling that using a bank that charges no fee for out of country withdrawals will save you more money than shopping for differences in interest rates. However, others here may have better knowledge.
Jul 1, 2019, 10:22 am
#3
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Unlike many other countries, Japan offers competitive forex rates at the airport, generally around 2.5% commission for cash. So, just go to the exchange window after exiting Customs and you're done.
Jul 2, 2019, 12:06 pm
#4
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Agree with Steve M. Unlike the atrociously poor rates offered at airports in many countries (Travelex is perhaps the worst offender), banks at Japanese airports offer reasonable rates. I'd actually advise exchanging money at the airport upon arrival -- generally, these will be (a) the best rates you will find, and (b) the process is more streamlined. In larger cities, you will find exchange machines (near train stations, tourist spots, large hotels) that offer significantly worse rates than the airport banks. And at bank branches in cities, especially off the beaten tourist track, you may encounter middling rates, but very bureaucratic procedures.
Jul 2, 2019, 4:02 pm
#5
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USD or EUR, Japan has OK rates (3% for cash). Any other currencies, awful.
Published retail rates at MUFJ World Currency Shop (rates are pretty much the same everywhere except Travelex): https://www.tokyo-card.co.jp/wcs/rate.php
Exchange machines at the airports actually offer slightly better rates than the counters. Exchanging at banks in town takes ~20 minutes.
Published retail rates at MUFJ World Currency Shop (rates are pretty much the same everywhere except Travelex): https://www.tokyo-card.co.jp/wcs/rate.php
Exchange machines at the airports actually offer slightly better rates than the counters. Exchanging at banks in town takes ~20 minutes.
Jul 26, 2019, 10:47 pm
#6
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For me, the shop where I strive to exchange dollars for yen is Daikokuya. [I translate it, but not in this link.]
If you're staying in Asakusa or Ueno, the closest shop is in 4-2-2 Ueno, Taito-ku. In Shinjuku, 2-8-5 Yoyogi, Shibuya-ku, Tokyo Shinjuku South Entrance Building 1F. In central Yokohama, 1-2-3 Minamiyuki, Nishi Ward, Yokohama City, Kanagawa Prefecture 2F.
For me, it always has the best rate. I generally only exchange as much funds at the airport as is needed for two nights (of seven) at the hostel where I stay. I inform hostel management that I shall pay the balance after I exchange more funds at a more favoritable rate. This means Daikokuya.
If you're staying in Asakusa or Ueno, the closest shop is in 4-2-2 Ueno, Taito-ku. In Shinjuku, 2-8-5 Yoyogi, Shibuya-ku, Tokyo Shinjuku South Entrance Building 1F. In central Yokohama, 1-2-3 Minamiyuki, Nishi Ward, Yokohama City, Kanagawa Prefecture 2F.
For me, it always has the best rate. I generally only exchange as much funds at the airport as is needed for two nights (of seven) at the hostel where I stay. I inform hostel management that I shall pay the balance after I exchange more funds at a more favoritable rate. This means Daikokuya.
Jul 28, 2019, 2:18 am
#9
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Of course not. This was advice for someone who carries cash and asked for the best place to exchange it. I don’t think there are any developed countries were exchanging cash is better than making a withdrawal with a no-fee card. Many Japanese ATMs now charge a small ($2-ish) fee, so if for some reason you only need some $20-50 converted to yen, cash may be better.
Jul 28, 2019, 4:20 am
#10
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Jul 29, 2019, 2:29 am
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Jul 29, 2019, 3:09 am
#12
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Jul 29, 2019, 7:49 am
#13
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I see you are based in the US in which case would strongly urge you to just pick up a Schawb checking account (no fee) and use corresponding debit card -- they will cover both the ATM fee and charge the Visa spot rate (which is typically quite good -- they don't seem to pass on the extra 0.5 - 1% that Chase does with the no-fee credit cards)
Jul 30, 2019, 3:30 pm
#14
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The money squeeze.
Nonetheless, if you inspect this reply from a prior Japan Do!, you will note that I found a very acceptable cheap accomodation at this hostel nine minutes away from Shinjuku on Tokyo Metro {not J.R.}. It even accepted a credit card, so I didn't have to haul myself off to Daikokuya all that swiftly.
What the heck: Why halt there? Look where I stayed when we went to Osaka in 2016! The venue was brand new.
:-:The Pudgy philosophy when visiting Japan is to spend as little as possible on travel to / from, and accomodation there, and the whelming balance on food, drink, and artifacts to bring back.