Going to Japan - converting money and stuff

[Dokstarr]

Hey everyone,

I'm going to Japan a week from Tuesday and I was wondering when and where is the best time to convert my cash over to yen. (Convenience and cheapest option)

I guess my options are:

Go to my home bank branch and try to convert it there. Would that be cheapest and easiest?

Convert it at the airport - in US or Japan?

Convert it a conversion booth somewhere in Japan?

Next question:

I see people say that plastic isn't as widely accepted over in Japan as around here. Is it really the case that my debit card won't be very useful over there. So should I bring a large wad of cash with me or try to convert it here and there instead of carrying a big lump with me?

Also, any general advice people could give me in general for anything would be appreciated.

Thanks!

[y2kenjination]

My best advice would be to bring most of your spending money with you. I usually convert all of it to yen at the airport in Japan. Despite what people say about crappy exchange rates at the airport, from experience, I can tell you that the exchange rates are pretty close to a banks for the most part.

Most post offices in Japan offer international ATM machines with an English language option. Be forewarned though-- while I had no issues withdrawing money with my debit card, my friend had to call his bank several times to resolve his issues. The ATM machines kept rejecting his cards, and sometimes he could only withdraw $100 at a time. He was with Bank of America, and I'm with Washington Mutual, FYI. It might be a good idea to call your bank ahead of time to let them know you'll be withdrawing money overseas.

Depending on where you're staying, it shouldn't be too hard to find a post office. If you're staying in Tokyo, Akihabara has a post office that's relatively close to the train station.


In terms of carrying a wad of cash with you:

Put most of your spending cash in a safe spot in your hotel room. I've been to Japan 7 times, and I've yet to have problems with my money getting stolen.

[lmz00]

I'd say take a credit card, and if you really need cash, just get it from an ATM machine, that way you won't pay any currency exchange fees (although that probably depends on your bank).

[daphatty]

Don't take a credit card. Anyone that has been to Japan knows that it is VERY hard to use foreign credit cards (because few places accept them) and even harder to find an international ATM machine, let alone use one. (FYI. There isn't a single non-Japanese ATM machine inside the international terminal at Narita. I've spent plenty of time trying to find one and even resorted to asking at the information counter.)

Take as much of your own cash as you can and exchange it at the Airport. The convenience outweighs the cost. Plus, the US Dollar is in the shitter anyway so you are going to take a hit regardless.

[y2kenjination]

I'd say take a credit card, and if you really need cash, just get it from an ATM machine, that way you won't pay any currency exchange fees (although that probably depends on your bank).
There's still international withdrawal fees from ATM machines.

Don't take a credit card. Anyone that has been to Japan knows that it is VERY hard to use foreign credit cards (because few places accept them) and even harder to find an international ATM machine, let alone use one. (FYI. There isn't a single non-Japanese ATM machine inside the international terminal at Narita. I've spent plenty of time trying to find one and even resorted to asking at the information counter.)
Did you read my post? You can find international ATM machines at pretty much any post office in Japan.

[CheapyD]

There's still international withdrawal fees from ATM machines.

FYI, its a 2% fee, from Citibank, at least...not sure if its the same from other banks.

[Dokstarr]

Thanks for the help everyone.

I can't believe the trip is a week from today! (tuesday)

I use bank of america and I told them months ago to make a note I was going over sees when I first booked the trip but I will make sure to personally stop down my branch tomorrow and tell them I am going to Japan and to make sure that my account will be okay over there.

Looks like I will withdraw a big hunk of cash and bring it over there and convert it over. It will be a little scary having all that money on me, but it should be okay. I will be staying at a few different hotels so I will have to carry it w/ me sometimes.

Thanks again!

[JMEPO]

Ok, first of all DO NOT CONVERT YOUR MONEY TO YEN AT THE AIRPORT. They charge you way to much. When I was there last year I made the mistake of converting my money at a currency exchange in O'Hare airport, I should have gotten 119 yen to the dollar but the fee was so high that I ended up getting about 100 yen to the dollar. When I kindly told the lady I wasn't aware of the high exchange rate and I wanted to refund the Yen for my Dollars she told me it wasn't allowed and walked away. My suggestion is too convert your money at your local bank, the exchange rate is little to nothing at banks. ( By the way, the current Dollar to Yen exchange rate is 106.08 yen to the dollar.

[Kirin Lemon]

Wow, nobody's suggested traveler's checks yet? Put your money into traveler's checks (AAA offers the service for free if you're a member or you know someone who is) and exchange them at a bank after you arrive in Japan to get the best exchange rate. You can't do any better than this method.

[ighosty]

You didn't say why you were going to Japan, but if you are a student don't forget that you can usually get a student rate when exchanging currency as long as you show some sort of student ID.

[mkg12]

Visiting anywhere in particular?