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If you're traveling to Japan, you'll want to get your hands on some local currency - the Japanese yen. You can exchange your money for yen at a currency exchange machine at the airport, such as the one at Narita International Airport.
In Japan, you can also exchange currency at a bank, like the Bank of Japan, or at a post office. You can even exchange currency at some convenience stores, like 7-Eleven.
In the US, you can exchange currency at a bank, like Wells Fargo, or at a currency exchange office, like Travelex.
Where to Get Japanese Yen
If you're looking for a convenient spot to exchange or withdraw Japanese yen, Japan Post Bank ATMs are a great option. They're located in hundreds of post offices and convenience stores throughout Japan, and the machines are usually green in color.
Hotels and large department stores may offer currency exchange services, but be aware that they often come with extra fees and less favorable rates. Banks, on the other hand, are usually open from 9am to 3pm on weekdays and can exchange currencies.
If you're at an airport, you can also exchange currencies at banks or money changers like Travelex, which can be located at airports and in major cities. You can also check out XE Currency Converter or Wise's own Currency Converter for current exchange rates.
To get yen while traveling in Japan, it's a good idea to carry some cash, as some services and businesses may not accept credit card payments. Convenience stores, Japan Post Office, and even Don Quijote are convenient spots to withdraw and exchange yen.
Here are some convenient spots to withdraw and exchange yen:
- Japan Post Office
- Convenience stores
- Don Quijote
- Banks
- Money changers like Travelex
- ATMs at airports and train stations
In most major cities, you can find these locations near train stations or at airports.
Online Currency Exchange
Online currency exchange services are a great way to get Japanese yen, and they can be reasonably priced if you order a few weeks in advance.
Some popular online foreign currency exchange services include Wise and Revolut, which offer excellent exchange rates and transparent fees. Wise always gives you the real exchange rate, just like the one you'll see on Google, with a fair and transparent fee upfront.
Revolut provides an excellent multi-currency account that supports JPY and 37 other currencies, with exchange rates that are sometimes even better than the mid-market rate.
Japan Post Bank ATMs
Japan Post Bank ATMs are a convenient option for withdrawing cash from international bank accounts. You can find them in post offices and convenience stores throughout Japan.
These machines are usually green in color and have a withdrawal limit of 50,000 yen per transaction. This limit is dependent on your bank, so be sure to check with your bank before using the ATM.
Using Japan Post Bank ATMs is especially helpful for railway users, as there are convenient locations right in JR East Japan stations in the greater Tokyo area.
Online Currency Exchange
Online currency exchange services are convenient and can be reasonably priced if you order a few weeks in advance. Take note to NOT pay with a credit card because your card provider will treat it like a cash advance, which will incur fixed fees and APR costs.
You'll be charged two kinds of fees when you order Japanese yen in cash online: an Exchange Rate Margin and a Commission Fee. The Exchange Rate Margin is the difference between the true "mid-market" exchange rate and the rate applied by the provider, which they keep for themselves. The Commission Fee is usually a percentage of the amount converted, charged for the service provided.
To avoid extra charges, order your Japanese yen in cash online a few weeks in advance. This will give you time to compare rates and fees from different providers, and find the best deal for your needs. You can even get rates that are better than the mid-market rate with some services, like Revolut, which offers an industry-low margin on the exchange rate, ranging from 0.4% to 2%.
Here's a breakdown of the fees you can expect to pay:
Keep in mind that these fees can vary depending on the provider and the amount you're converting. Always check the fine print before making a transaction to avoid any nasty surprises.
Best Places to Buy
If you're looking for a convenient way to get Japanese yen, you've got several options.
You can use ATMs at convenience stores like Seven-Eleven, Family Mart, or Lawson, which are usually open 24-hours a day and have multilingual support.
These ATMs accept various credit and debit cards, including VISA, MasterCard, and American Express.
You can also try Japan Post Bank ATMs, which are convenient for withdrawing cash from international bank accounts and have a withdrawal limit of 50,000 yen per transaction.
Here are some of the best places to buy Japanese yen in the US:
- Japanese Yen travel money cards
- ATMs abroad via travel debit cards
- Online foreign currency exchanges
- Traditional banks
- Money changer kiosks
- Airport kiosks
Note that some banks may not offer a currency exchange service, so it's best to check ahead of time.
Convenience Store ATMs
There are hundreds of thousands of convenience stores in Japan, so you're never far from an ATM.
Many ATMs at convenience stores like Seven-Eleven, Family Mart, or Lawson can be used 24-hours a day.
If you have credit or debit cards like VISA, MasterCard, or American Express, you can easily take out Japanese yen from these ATMs.
The withdrawal limit is dependent on your bank, and certain rules and limits may apply.
Most convenience store ATMs have multilingual support, making it easy to operate the machine.
If you have any questions, don't hesitate to ask an employee.
Only withdraw Japanese yen from these ATMs.
Best Exchange Rate
The best exchange rate is a crucial factor to consider when buying Japanese yen in the USA. To get the best rate, it's essential to compare prices from various providers and avoid hidden markups in the exchange rate.
Sending money from one bank account to another can be a cost-effective option, but it's not always the cheapest way to get Japanese yen. According to our research, sending cash or transferring money from a bank branch usually costs more in extra fees.
Online foreign currency exchange services can be a convenient and reasonably priced option if you order a few weeks in advance. However, be aware that providers will charge you two kinds of fees: an exchange rate margin and a commission fee.
To avoid losing money on the exchange rate, look for providers that give you the real exchange rate, just like the one you'll see on Google. Wise, for example, always gives you the real exchange rate, with a fair and transparent fee upfront.
Here are some options to consider when buying Japanese yen in the USA:
By considering these options and being aware of the fees associated with each, you can get the best exchange rate and save money on your Japanese yen purchase.
Preparation and Tips
Before you start looking for places to exchange your money, make sure you have some cash on hand.
It's a good idea to have a small amount of Japanese yen with you when you arrive in Japan, as some vendors may not accept credit cards or foreign currencies.
Consider exchanging your money at a bank or currency exchange office, as they often have the best exchange rates and are open during regular business hours.
Why Exchange Rates Matter
Getting a good Japanese yen exchange rate is crucial because it directly impacts how much money you have in your pocket. The lower the cost of converting your money to JPY, the more money for you.
Banks or other providers will likely charge you a conversion fee, but that's not all - hidden markups in the exchange rate can end up costing even more. This means you could be charged twice without even realizing it.
Converting your money in cash can be even more costly, with conversion fees, hidden markups, and extra delivery charges adding up quickly. You should always look for the best possible exchange rate, regardless of the conversion method you're using.
Travel Preparations
To save money on the exchange rate, consider using a Wise multi-currency debit card for your travels. With this card, you can send and spend money at the real exchange rate, and convert it instantly.
Banks and money changers, such as Travelex, can exchange currencies, but they usually have less favorable rates and extra fees. You can find them at airports and in major cities.
If you need to exchange currencies, check the opening hours of banks, which are usually from 9am to 3pm on weekdays. Hotels and large department stores may also offer currency exchange services, but be aware of the extra fees and less favorable rates.
Online foreign currency exchange services can be convenient, but be aware of the two kinds of fees: exchange rate margin and commission fee. Providers apply a poorer exchange rate and charge a percentage of the amount converted as a commission fee.
To get the best Japanese yen exchange rate, compare prices from different providers, including the hidden markup in the exchange rate. Sending cash or sending a money transfer from a bank branch usually costs more in extra fees.
Consider using a Wise debit card to send and spend money at the real exchange rate, with no fees on your first £200 every 30 days. You can also withdraw money from ATMs abroad with this card.
To avoid losing money on the Japanese yen exchange rate, look for providers that give you the real exchange rate, like Wise. This way, you'll know exactly what you're getting, with no nasty surprises.
Frequently Asked Questions
Getting Japanese yen before your trip to Japan can be a bit confusing, but don't worry, I've got you covered.
You can get Japanese yen in the USA, but it's generally not the best idea unless you open a free multi-currency account from Revolut or Wise. This way, you can hold JPY via a multi-currency account and spend them with a card.
You can exchange for Japanese yen at a bank in the USA, but be aware that it's usually expensive due to commission fees and high exchange rate margins.
If you want to get Japanese yen in the USA, consider opening an account with a multi-currency account like Wise. They have features that let you lock in a desired exchange rate, which will trigger a conversion if met by the mid-market rate.
It's worth noting that getting cash from an ATM in Japan is often the best option, especially if you're already there.
Here are some methods to get Japanese yen in the USA:
- Travel money card
- Multi-currency account from Revolut or Wise
- Exchange for Japanese yen at a bank in the USA
Frequently Asked Questions
Is it better to buy yen in the US or Japan?
It's generally better to wait until you arrive in Japan to exchange your dollars for yen, but if you need yen beforehand, you can get more favorable rates in Southeast Asian countries than in the US.
Can I get Japanese yen at US Bank?
Yes, you can order Japanese yen at US Bank, and we'll send a confirmation email. To pick up your order, please bring a valid ID for verification.
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