Exchanging or withdrawing money in Japan

Hi, I’ve always been used to exchanging my money (€) in town no matter the country (with a "mini exchange" at the airport if needed). I can’t find any recent posts on this topic from the last few years. Does anyone have any insights on this? Intrinsic benefits, best places to exchange, etc.? I arrive at Tokyo Haneda on a Friday around 12:30 PM, and my first night is very close to Shinjuku. Thanks.

hi there :) *If you exchange euros for yen, you’ll pay a commission and the exchange rate might not be great. *If you withdraw money at an ATM in Japan, you get yen right away. But your bank will charge you a fee. So it’s worth checking with your bank to see what the fees are when you withdraw abroad.

Hi there,

Honestly, in Japan, don’t do that. There are ATMs at Haneda—get a bank card with no foreign transaction fees and withdraw a decent amount. Or at any Seven Eleven after that.

Michel

Hi there,

The easiest way is to withdraw from ATMs if your bank doesn’t charge fees, but you need to be careful about where and which ones. You’ll always be charged 220 JPY (~1.20 €) in fees regardless of the amount, but the exchange rate is pretty much the real daily rate. I usually go to the post office or convenience stores ("combini") like FamilyMart or Lawson. Avoid 7-Eleven—they charge an extra 3% fee—and don’t use the convenience stores mentioned in some airports, as they also add a 3% surcharge. When you make your transaction, refuse the euro conversion if it’s offered. Before finalizing the withdrawal, a screen will pop up showing the fees—check them and decide whether to proceed or not.

Hi,

I don’t recall any percentage fee like that at the last 7-Eleven I visited for this, but if you say so. It was in Hakodate. Outside of very big cities, there aren’t as many ATMs in Lawson’s and Family Marts.

Michel