Buying japanese yen in japan.

Submitted: Sunday, Mar 17, 2013 at 20:22
ThreadID: 101145 Views:1288 Replies:5 FollowUps:6
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G'day all

We are going to japan late next week and want to buy more yen.

We have been told we can buy yen in japan for around 1% commission.

Can anyone tell me if that is correct.

I have looked on the internet with no success.

Any help would really be appreciated.

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Reply By: Member - MUZBRY(Vic) - Sunday, Mar 17, 2013 at 21:33

Sunday, Mar 17, 2013 at 21:33
Gday
My wife , the banker , said to go to your local bank and they will order it for you.



Muzbry
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Follow Up By: Member - Boo Boo (NSW) - Sunday, Mar 17, 2013 at 21:53

Sunday, Mar 17, 2013 at 21:53
G'day Muzbry

I had a look at the banks, but they want up to 5%.

I got 3k of yen from a mob in melbourne through daughter in law a few weeks ago for 2%, but we are backin Scone and would like to get the exchange for less than the banks charge.

Fingers crossed.

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Follow Up By: Lyn W3 - Monday, Mar 18, 2013 at 01:06

Monday, Mar 18, 2013 at 01:06
Try travelex.com.au they are currently offering 0% commissions on selected currencies including the Yen.

Not too sure what their exchange rate is, the trouble with currency exchange is they have you by the short and curlies and they get you either on the commissions or the exchange rate.
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Follow Up By: Member - Boo Boo (NSW) - Monday, Mar 18, 2013 at 19:26

Monday, Mar 18, 2013 at 19:26
G'day Lyn

Yep, I think you're right.

I'll check them out and see how I go.

I have a distinct dislike for banks and would prefer to buy the yen from someone else.

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Reply By: Chris b23 - Monday, Mar 18, 2013 at 01:55

Monday, Mar 18, 2013 at 01:55
There is not much issue you need to check formalities and paper are appropriate.
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Reply By: toffytrailertrash - Monday, Mar 18, 2013 at 09:01

Monday, Mar 18, 2013 at 09:01
Get yourself a travel card either with or without direct debit and simply use the local ATMs. A lot less worrying than carrying a lot of cash which can disappear real quick in a crowd when sticky fingers are around which is quite common in airports around the world.

Enjoy your trip


Merv
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Follow Up By: Member - Frank P (NSW) - Monday, Mar 18, 2013 at 10:42

Monday, Mar 18, 2013 at 10:42
Yep, x2. We used a credit union debit card while OS and just withdrew local currency from a hole in the wall as and when we needed it. Being a credit union and not a bank, fees were minimal, if any.

Cheers
FrankP

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Follow Up By: Member - Boo Boo (NSW) - Monday, Mar 18, 2013 at 19:31

Monday, Mar 18, 2013 at 19:31
I'll also go to our credit union and see what they can offer with our debit card.

Thanks for the heads up.

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Follow Up By: Echucan Bob - Tuesday, Mar 19, 2013 at 07:53

Tuesday, Mar 19, 2013 at 07:53
Merv, you are on the money. There is no point carrying large wads of cash when you can visit any ATM and top up as needed. It also avoids the issue of brigning left over foreign cash home.

Bob
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Reply By: Chris b23 - Monday, Mar 18, 2013 at 15:33

Monday, Mar 18, 2013 at 15:33
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Reply By: achjimmy - Monday, Mar 18, 2013 at 23:51

Monday, Mar 18, 2013 at 23:51
I go to Japan twice a year. I always withdraw cash at Tokyo Airport. Other ATMs work just as well. Don't bother with the money changes other than to have a few dollars for when you arrive. Credit card works everywhere over there but watch your banks foreign exchange rate, most 2-3% but it's based on actual FX.

AnswerID: 507086

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