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exchanging yen?

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Boston
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exchanging yen?

I am thinking of bringing $2500 USD spending money for a week in Tokyo. Should I exchange them all to Japanese Yen at my bank in the US? Or are they easily exchange at the hotel or banks in Tokyo? Or do I withdraw them at atm in Tokyo? Or just pay by credit card wherever I can? I wanna avoid those AMEX airport kiosh if possible due to their cutthroat fees.

Illinois
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for Chicago, Illinois
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1. Re: exchanging yen?

ATMs in Japan - http://www.japan-guide.com/e/e2208.html

There are numerous currency exchange options at the airport. The rates there are comprarable to exchanging in Tokyo.

Although not as popular as cash, credit cards are widely accepted at hotels, restaurants and shops across Japan. You'll need to check with your CC to see what the foreign exchange charge is. Could be up to 3%.

Toronto
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for Tokyo
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2. Re: exchanging yen?

Currency exchange rates at airport narita-airport.or.jp/exchange_e/index.html

You can exchange cash at the airport, use bank ATM at airport and in town (7-11 and post offices). You can exchange at some banks (takes 20 minutes). You can use credit card.

Toronto, Canada
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3. Re: exchanging yen?

Exchange your dollars in the US, I was told the exchange rate is really not worth it in Japan. This is from people who told me after travelling there.

Hope that helps

Toronto
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for Tokyo
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4. Re: exchanging yen?

>> I was told the exchange rate is really not worth it in Japan.

You shouldn't listen to your friends. Instead do your own research.

Narita: 1USD = 81.02 t/c or 79.02 cash no fee

Bank of America: 1USD = 77.58 + shipping charge http://www.bankofamerica.com/foreigncurrency/

Wells Fargo: 1USD = 78.31 + shipping charge https:/…

Boston
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5. Re: exchanging yen?

I arrive in Hanida late night 10:30pm. Is their money exchange open?

Tokyo and California
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for Tokyo, Kyoto, Osaka, Shinjuku, Japan
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68 reviews
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6. Re: exchanging yen?

I live in the US and part time in Japan. I can confirm that the exchange rates $USD to Yen is much better in Japan. Haneda currency exchange:

haneda-airport.jp/inter/…bank.html

London, United...
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7. Re: exchanging yen?

Try to exchange at a pawnshop called Daikokuya. They sell various tickets such as concerts, air ticket, and train tickets as well as exchange foreign currencies and they have many shops in Tokyo area. They seems to have the best exchange rate.

You can find a shop through its website.

www.e-daikoku.com/moneytransfer/en/store.html

Rate can be checked althought it is only in Japanese

http://gaika.e-daikoku.com/

Toronto
Destination Expert
for Tokyo
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8. Re: exchanging yen?

>> Rate can be checked althought it is only in Japanese

But those rates are meaningless.

店頭両替をご利用の場合は店舗によって両替レートが異なりますのでご注意ください。

"Please note that exchange rates may vary depending on the store If you use over-the-counter currency."

Aoyama Dori and San...
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9,424 posts
25 reviews
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9. Re: exchanging yen?

The cheapest way is if you can get free US$ T/C in the US and exchange them at a bank foreign exchange window. It should be around 1% (2% round trip). Nothing else can beat this. ATM can often match it as long as you don't have fees. 1% covers the FOREX overhead.

London, United...
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10. Re: exchanging yen?

bibimbob, I don't agree with you.

Bank's rates can be checked beforehand and compare how much difference it would be. They change rates according to market needs taking accounts of bank rates and so on. In general, this chain shop gives a better rate than banks offer.

Those who want to get better rate can check rates around as there are many banks offering forex exchange services.