Japanese Yen--How best to buy it .

[Kevvie]

Is it best to buy Japanese Yen inAustralia thru Australia Post or Travelex OR wait till you get there and withdraw thru ATMs using a debit card ?
Appreciate any advice please .

 

[kpc]

Via ATM...not all ATMs in Japan accept foreign cards...Citibank is one, and ATMs in post offices do...someone else can chime in here

 

[MEL_Traveller]

Almost certainly via ATM, unless the bottom is going to fall out of the Aussie dollar!

I've only had a problem once with an ATM not accepting a foreign card - but I guess that might depend on the issuing bank? Using 28 degrees was fairly straightforward - even cash machines at 7/11 (and similar) worked just fine.

 

[clifford]

Japan is indeed a quite insular and different place, though not to say it's not very interesting. Very few people you meet on the streets will admit to speaking English at all (even school kids), so you would be wise to take your complete itinerary (including hotels) in Japanese as well as English, I have travelled through Japan several times and I'm going there again (to Tokyo, Sendai and Fukuoka) in a couple of weeks time.

As has been mentioned, it can sometimes be difficult to obtain cash from an ATM using a non-Japanese card (even if you can read the instructions), so I always take the bulk of my money in cash, which I obtain from Travelex via my credit union, at better rates than from the major banks.

My advice would be to take cash, then you won't be caught short, which can easily happen.

 

[dajop]

ATM + some AUD to change over at FX booth on arrival. Whenever I've been there never had any issues with changing on arrival, nor using ATMs.

Actually: correction I have had an issue taking out money once, having just come from Korea to JP I took out 150000 Yen instead of 15000 Yen ... so be careful of the zeroes (noting 1 yen = 10 Korean Wan). Luckily the JPY depreciated so sold it a few months later at a small profit....

 

[Kevvie]

Thank you for the advice dajop . Do you know what the daily withdrawal limit is on ATM cash , please .

 

[Himeno]

I tend to change over cash at an FX booth at the airport on arrival and use the ATMs (that work for non JP cards).
Some of the exchange booths want "applications" filled out, with name, passport, flight, hotel and currency type/amount. Others (like Travelex) don't.

Very few ATMs in Japan will take non Japanese cards. Only ATMs at Japan Post and 7/11 (both of which run their own banks) will take them as well as selected other ATMs at the major airports. Both the JapanPost Bank and 7andi Holdings ATMs have an english mode option.

 

[Himeno]

Thank you for the advice dajop . Do you know what the daily withdrawal limit is on ATM cash , please .

Daily withdrawal limit has nothing to do with the ATM. They only have a max/min per transaction. Any daily limit comes from whoever issued you card.

 

[NoobFlyer]

Is it best to buy Japanese Yen inAustralia thru Australia Post or Travelex OR wait till you get there and withdraw thru ATMs using a debit card ?
Appreciate any advice please .

If you can't get to one of the big guys like KVB or UAExchange (who apparently have very good rates sometimes) in Mel or Syd then I've found the best rates available at Amex FX4You, generally a few points better than Auspost, Travelex or the banks and no conversion fees.

As for withdrawing cash in Japan, the best method IMO is have a Citibank Debit card which has no overseas transaction fee and more importantly gives a very favourable exchange rate not far off the market price seen on xe.com etc. A 28 degrees credit card as suggested above will give no foreign transaction fees and a likewise decent exchange rate for purchases like hotel rooms and some bigger restaurants or tourist attractions but does charge a fee for ATM withdrawals so use the Citibank Debit card for when you need cash, which you will in Japan.

In Japan you will only be able to use a foreign-issued card at the 7-bank ATMs in 7-11s (where I get 99% of my cash from in Japan), Post Offices (thought these are generally only open 9-5) and Citibank branches (not particularly common). Also note that most ATMs have a withdrawal limit of 100000 or 200000 Yen at a time so depending on the exchange rate of the date you may hit these ceilings one day and not the next which does confuse some people, though you can just immediately do another transaction to get more out.

So as for answering your question on when to get the money, either throw the cash in a high interest savings account until you leave and hope the interest outweighs any potential drop in the AUD against the Yen or hedge now and use FX4You and get what's on offer now (~82.5 Yen/$ as of today).

 

[Himeno]

Post Offices (thought these are generally only open 9-5)

The large GPOs (normally near to the main train station in the big cities) are open until 9pm most days. Many of the smaller post offices, while the postal services area closes at 5 or 6pm, the section with the ATMs is open much longer.

 

[Comoman]

Just left Tokyo - withdrew cash from the ATM at Haneda. No problems although the ATM's look like they're from the 70's and speak very loudly too you. Just look for the Cirrus/Maestro/Mastercard symbol on the ATM.

Very little English spoken anywhere and the Tokyo metro was an ordeal in itself!

 

[dajop]

Very little English spoken anywhere and the Tokyo metro was an ordeal in itself!

But Tokyo metro does have signs written in our script as well as Japanese. It is really fun for those enjoy puzzles, how to work out to get from A to B. Although once used to it, it really is no more difficult than Paris Metro or London Underground. Most confusing bit is the two different subway companies (Toei and Tokyo Metro) and + two rail companies can make it confusing.

But if travelling by subway, definitely worth getting a Suica or Pasmo card and putting some cash on it to avoid having to work out which ticket to purchase from which company .....

 

[feezable]

Timely thread for me, thanks for the advice everyone.

 

[Comoman]

A little thread creep but here is the Tokyo metro map in one of the trains:


Some of the trains and electronic signs were only in Japanese

 

[Himeno]

But Tokyo metro does have signs written in our script as well as Japanese. It is really fun for those enjoy puzzles, how to work out to get from A to B. Although once used to it, it really is no more difficult than Paris Metro or London Underground. Most confusing bit is the two different subway companies (Toei and Tokyo Metro) and + two rail companies can make it confusing.

There are a lot more then 2 rail companies operating in Tokyo... Last time I counted, between the Toei and Metro subway, JR and the private rail companies, there were 12.

I tend to get smart card tickets wherever they are available when I'm there. From Japan, I have a Suica (from JR East) and a ICOCA (JR West).
The first time I was in Japan (Tokyo and Osaka) in 2006, I was using the normal tickets and day passes. Trying to work out which ticket was needed for what and which pass could be used on which lines was quite annoying. Got the Suica the next time I was there as soon as I heard about it (and after having used the London, Singapore and Hong Kong versions).

 

[dajop]

A little thread creep but here is the Tokyo metro map in one of the trains:


Some of the trains and electronic signs were only in Japanese

All part of the fun ! English version are available at stations and on some trains. Just take a photo of them (or download online image) with the phone.

 

[Alh01]

Perhaps a little off topic, but very helpful. Tokyo coming up in two months time, and the subway sounds quite confronting.

Thanks again.

 

[MEL_Traveller]

Perhaps a little off topic, but very helpful. Tokyo coming up in two months time, and the subway sounds quite confronting.

Thanks again.

The subway itself is actually pretty easy... knowing the fastest way between two points however is the tricky bit. Some interchanges can mean a lot of walking. Some lines are quicker than others.

If you get a suica card fares are a piece of cake. If you are buying a cash ticket (for example at the airport), you have to make sure your ticket covers the right lines, and the right mixture of companies, to get you where you need to go. I somehow managed to buy a ticket once that excluded the JR circle line... taking the subway would have still got me there, just taken 65 minutes longer.

 

[moa999]

Subway isn't too bad - lines are well marked with line-colours and letters.
Much like London however, at some of the larger stations it can be a large walk to change lines, and getting the right Exit can make things easier too (hint: Google Maps shows the Exit number)

 

[Himeno]

and getting the right Exit can make things easier too (hint: Google Maps shows the Exit number)

There are also station guides and maps which tell you which exit you need - in English.