Cheapest option to exchange money in Japan [duplicate]
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I will be travelling from Europe to Japan and considering what's the best way to get Japanese yen:
- Bring EUR from home country and exchange in Japan - airport or other place?
- Use ATM in Japan - how much does it charge?
- Pay by credit card - availability to use such option? Additional fees?
Best Answer
Just want to expand on @Garry's answer, which is absolutely correct.
If you have a low/no fee credit card, that's my preferred option since you don't risk being saddled with unused currency which you have to convert back (incurring exchange fees again!) when you return home (plus my card gives me rewards.) But while Japan is increasingly friendly to credit cards, it's still very much a cash economy so make sure that you maintain some cash with you. As noted, an ATM is the best option for that.
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Is it cheaper to exchange money in Japan?
For instance, you will get a better exchange rate for yen in Southeast Asian countries than in Japan. But if you are traveling from the United States, definitely wait to exchange your money. You will get a much better rate in Japan for your dollars than in the US.Where can I exchange foreign currency in Japan?
In Japan, currency exchange is usually handled by banks, post offices, some larger hotels and a handful of licensed money changers found especially at international airports. Whether or not it is better to change for yen before coming into Japan depends on the currency that you hold.Should I Get yen before I go to Japan?
Generally there is no need to buy Japanese yen in your home country before your trip, as you will most likely pay a higher commission (about 3%) and a worse exchange rate than you would get at the airports, banks, or ATMs in Japan.Do banks give good exchange rates?
Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, offer the added benefit of having ATMs overseas. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.MONEY EXCHANGE IN JAPAN 🇯🇵
More answers regarding cheapest option to exchange money in Japan [duplicate]
Answer 2
Another option is Revolut.
From Using Revolut in Japan:
The main problem in Japan is that most of the cash machines don’t accept any western cards, and a lot of shops/hotels/businesses like to deal in cash. The ATMs in 7/11 shops or post offices are usually pretty reliable, but get out plenty of cash when you find one. Revolut has no transaction fee until you go over whatever the monthly limit is at the moment (£500?),but even with fees it was better rates than my traveling companions.
But according to ATMs in Japan:
None of the ATMs in Tokyo gave me money. My GF’s MasterCard worked in the international ones. Revolut MasterCard was refused everywhere not even getting to PIN screen. I even used the ATM locator. At least paying at restaurant worked with the card, but there are so many cash-only places.
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