Japanese Yen - Cash

[byron.lumley]

I will be travelling with the Qantas Pay Card. However, Japan has always been more cash friendly & prior to leaving I would love to have a chunk of Yen in cash.

What's the best options for buying foreign currency (cash) in Australia. Any suggestions, anything I should look out for.

 

[Pushka]

I will be travelling with the Qantas Pay Card. However, Japan has always been more cash friendly & prior to leaving I would love to have a chunk of Yen in cash.

What's the best options for buying foreign currency (cash) in Australia. Any suggestions, anything I should look out for.

We got the Wise card and preloaded with yen when the exchange rate was excellent and will visit an ATM on arrival at the airport. We used to get cash here but the exchange rate and fees are crazy. We also loaded up the Suica travel card in Apple Wallet and preloaded that with cash to use on the train system and supermarkets.

 

[HappyFlyerFamily]

On a different tangent, if you have a Mastercard debit card, there would be no ATM-operator fee when withdrawing at 7-Bank ATMs inside 7-Eleven stores. (From memory there was only very limited exceptions at airports).

Visa debit cards at 7-Eleven stores usually got a 110 yen fee or 220 yen fee (about 1%) depending on how much you withdrew.

Of course, the actual exchange rate is determine by your bank - quite a few debit cards use the Mastercard/Visa daily rate.

So something to compare if you are looking at Australian currency store exchange options.

If you are in Sydney, there is a store (Eclipse) near Chinatown giving about 93.57 yen today (so about 3% difference) - XE.com is showing 96.49 right now.

 

[trendwhore]

When I go there (a few times a year) I usually use ATM to get cash out using a card with no fees (bankwest currently). Then you can just load the cash onto train card and use that like a normal bank card. Many places in Japan do not accept touch payment but usually credit cards are no issue.

However always good to carry a bit of cash with you anyway just in case as there are still many places that are cash only.

 

[Himeno]

I've always just gotten cash overseas from ATMs as needed. In Japan look for the 7andi Bank (7-11) or Japan Post Bank (post office) ATMs. There are some outside the 7-11 stores or post offices.

Card use in Japan is much more widespread now then it was pre covid. Many places got card processing devices such as Square during covid. It's close to 80% acceptance of IC bank card or IC travel card now. Before covid, it was closer to 50%.

 

[Nick C.]

I've always just gotten cash overseas from ATMs as needed. In Japan look for the 7andi Bank (7-11) or Japan Post Bank (post office) ATMs. There are some outside the 7-11 stores or post offices.

Card use in Japan is much more widespread now then it was pre covid. Many places got card processing devices such as Square during covid. It's close to 80% acceptance of IC bank card or IC travel card now. Before covid, it was closer to 50%.

I visited Japan just before covid and then just after. I was amazed by the complete 180 they did on use of card payment.

But possibly more amazing, the convenience stores implemented cash payment via machines that could actually accept 1 and 5 yen coins.

 

[Pvcmenace]

We got the Wise card and preloaded with yen when the exchange rate was excellent and will visit an ATM on arrival at the airport. We used to get cash here but the exchange rate and fees are crazy. We also loaded up the Suica travel card in Apple Wallet and preloaded that with cash to use on the train system and supermarkets.

+1 To the Wise card pre loaded and withdraw from ATM over in Japan. Also use it for Apple Pay in store.

 

[travelislife]

Do not get cash in Australia. I’ll be there in January and will use my Macquarie fee free debit card to withdraw cash from Airport on arrival.

 

[Cynicor]

+1 To the Wise card pre loaded and withdraw from ATM over in Japan. Also use it for Apple Pay in store.

Wise is a poor idea compared to a fee free debit unless you only want $350 a month. After that it adds a bunch of fees

 

[Pushka]

Wise is a poor idea compared to a fee free debit unless you only want $350 a month. After that it adds a bunch of fees

$350 in cash will see me right with most going on credit card.

 

[Pvcmenace]

Exactly the $350 cash was all I needed, no fees on the Apple Pay transactions and was accepted everywhere.

 

[rbjhan]

As noted above, do not get cash in Australia. Use 711 or JP Post ATMs in Japan. I used Macquarie debit card after CitiPlus was no more...so far so good.

 

[Boeyn]

I was in Japan in May 2023. My partner (who had gone to Japan many times pre COVID) was stunned at how widespread card acceptance was post pandemic. We brought Macquarie debit cards over and withdrew ~40,000 yen on day 1 - had to make a conscious effort to use cash over card to get rid of it all by day 14, before we left!

 

[Flyerwin]

use my Macquarie fee free debit card to withdraw cash from Airport on arrival.

This is exactly what I do. Macquarie allows you to withdraw in the local currency.

 

[Cynicor]

This is exactly what I do. Macquarie allows you to withdraw in the local currency.

All cards allow you to withdraw local currency. The atms wouldn’t be stocked with anything else!

What mac bank offer, similar to Bankwest and a few others, is no foreign exchange fee and no foreign atm fee.

 

[HappyFlyerFamily]

All cards allow you to withdraw local currency. The atms wouldn’t be stocked with anything else!

What mac bank offer, similar to Bankwest and a few others, is no foreign exchange fee and no foreign atm fee.

Yes, there is a range of debit cards which are easy to open online and you will get a physical card probably within 2 weeks.

Which is why one should also factor whether the ATM in Japan would be charging their fee.

From the comments of Himeno/rbjhan, it seems like Japan Post ATM is also fee free (for both Mastercard and Visa debit cards?)

 

[jukebox333]

As noted above, do not get cash in Australia. Use 711 or JP Post ATMs in Japan. I used Macquarie debit card after CitiPlus was no more...so far so good.

"As noted above, do not get cash in Australia"

The only caveat I would make to this is: watch the Forex.

I too have opened a Mac account just for the fee free ATM access, but I also grabbed a decent chunk of Yen, delivered to my local Post Office here in WA about six months ago, when the dollar was hovering around ¥108 for a short while, for a trip that isn't happening till March next year.

It's slipped about 15% since then, but if it does head above ¥105 again, it would be prudent to lock that rate in IMHO

YMMV, of course

 

[Pushka]

"As noted above, do not get cash in Australia"

The only caveat I would make to this is: watch the Forex.

I too have opened a Mac account just for the fee free ATM access, but I also grabbed a decent chunk of Yen, delivered to my local Post Office here in WA about six months ago, when the dollar was hovering around ¥108 for a short while, for a trip that isn't happening till March next year.

It's slipped about 15% since then, but if it does head above ¥105 again, it would be prudent to lock that rate in IMHO

YMMV, of course

Sure and we did that as I noted above. But it's not through Travelex et al but loaded on to a Wise card.

 

[rbjhan]

"As noted above, do not get cash in Australia"

The only caveat I would make to this is: watch the Forex.

I too have opened a Mac account just for the fee free ATM access, but I also grabbed a decent chunk of Yen, delivered to my local Post Office here in WA about six months ago, when the dollar was hovering around ¥108 for a short while, for a trip that isn't happening till March next year.

It's slipped about 15% since then, but if it does head above ¥105 again, it would be prudent to lock that rate in IMHO

YMMV, of course

If you want to lock in the exchange rate wise would be best imho.

As a general rule I don't gamble with FX but that's just me.