Money: What You Need to Know About Currency Exchange Rates in Japan!

Published By: Shamma AlMarri
2 December, 2016

When traveling, whether it’s for work or leisure, one of the steps one must do is convert their money to the currency of the country they are visiting, but some people may want to avoid paying higher commission which is about 3%. You don’t have to buy Japanese yen in your country before going, just simply exchange them in the airports of Japan or their ATMs and banks and you’ll be just fine. Generally, Japan is proven to be the most harmless nation which makes it easy for you to feel comfortable dealing with money there or walk around with plenty of cash. Carrying large amounts of cash will not put you in any more danger than anyone else. It is not unusual to keep tens of thousands of yen in your wallet, and this did surprise a lot of travellers. If you stay there for long you will implement the same tradition, Japan is a cash-based country and not all shops accept credit cards.

Japan Currency

If you go to any foreign exchange counter at an airport, try to exchange in well-known currencies like the pounds, dollars or even euros. They will charge you with very low costs. Here are quite a few ways to receive yen for not cost. You can find these counters inside the arrivals lobbies or any were around the airports or in every bank. If you are exchanging cash, focus on exchanging them in the airport since they trade the same amount of cash unlike the inside of the country.

Banks tend to take much more time and detailed actions, so if you were in a hurry or you don’t like to wait, going there might not be the best thing for you. However, in most famous hotels in big cities, there are exchange desks that make it easier for you to exchange since only one person works on the transaction.

Another way of retrieving yen is using a post office ATM, or simply using credit cards. These are found in every post office, shopping centres and even on the streets. They also have an advantage only ATMs have which is that they work 24 hours. Don’t worry about not being able to understand Japanese writing as these ATMs do have an English option.

Another way is looking for a big grocery store and department. Those are known to have money exchange machines especially for converting dollars to yen. It also has a benefit of being for easy to handle, you put the dollars in and yen comes out, as easy as it gets! However, you can’t exchange anything under 20$.

If you are used to shopping using your credit card, you must change that, not every store accepts credit cards.

Though credit cards are increasingly popular and advanced, foreigners should not expect to have much luck with them and are nowhere near as convenient as cash since Japan is cash-based society regardless of its technology-driven economy but some people prefer not to exchange their money once they reach Japan, they just stick with paying using their credit cards which is tough. Credit cards are accepted only in larger hotels and restaurants, the small businesses usually don’t accept them, so they must stick with both large businesses and with paying a little extra here and there. Also, the ones who do take them charge a fee usually around 1-3%. However, withdrawing from a bank using credit cards is possible presenting the passport with the credit card before getting the cash is necessary.

Never plan to pay for anything in Japan with a check, foreign checks are not accepted anywhere and it’s hard to find a place that does accept them. If you find banks that do, they usually charge huge fees for exchanging check with cash the only known place that is certain to do so is the U. S. military bases. Where you will certainly have, the checks issued in either Japanese yen or US dollars.

 

Resource: 

https://www.justlanded.com/english/Japan/Japan-Guide/Money/Money-in-Japan

https://www.tripadvisor.com/Travel-g294232-s601/Japan:Banks.And.Money.html

 

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