Traveling to another country is a luxury for most people, while others do it as a part of their everyday job. For those who are new to it or are seasoned travelers, there’s one factor that is constant no matter where you go. That’s the need to exchange cash.
Japan, one of the world’s prime tourist spots, is a great place to travel and like other countries, it has its own currency that you’ll need to exchange your Australian dollars for to get. In this article, we’re going to take a look at currency exchange tips that’ll help you exchange dollars for Yen when you travel to Japan.
1. Understand the Yen
Before you travel to Japan, try to get familiar with the currency they use. The Japanese Yen is their main form of currency. Yen is divided into different amounts represented in coins, which are 1, 5, 10, 50, and 500 yen coins. Then there’s the notes which represent 1,000, 5,000, and 10,000 yen.
2. Know if it’s a good idea to carry cash in Japan
Cash is always helpful to have when you’re caught in a jam in another country. While Tokyo might be one of the most advanced cities in the world, it’s still very much a cash-based society, so you might run into some difficulty if you don’t have cash on hand.
Many small businesses in Japan prefer to work on cash instead of card payments. Likewise, taxis and other transportation methods might also only take cash. So, it’s important to have some cash on you just in case you need it.
3. Know when to exchange money
There are a few options for when you should exchange Aussie dollars for Yen. The first is buying Japanese yen before leaving Australia. There are some benefits to this, too. Picture getting to Japan with no cash on hand and not being able to find a reputable exchange. You’ll end up having to spend the extra exchange fees to get some cash. But, if you go to a reputable exchange beforehand, you’ll already have Yen and likely have lower exchange rate costs.
That said, there’s also the option to find an exchange or bank when you get to Japan. If this is your plan, we’d suggest finding out where an exchange is before you land so you can head straight there, which will lead us to our next point.
4. Know where to exchange currency in Japan
If you’re planning on exchanging cash when you arrive in Japan, then you’ll have to find one of these areas to do it. However, take note that some of these exchanges will cost you more than others. Here’s where you can exchange your cash in Japan:
Exchanging Yen at the Airport
The first place you’ll have the opportunity to exchange dollars for yen will be at the airport. But, if you can, try to avoid exchanging here. The reason for this is that they can sometimes have a much higher exchange fee, although, in most cases, their fees are similar to that of the banks. An airport exchange will be the most accessible exchange for you, though.
Exchanging Yen at the Bank
Next, you can also find a bank in Japan and exchange your funds there. Generally, these will be the larger backs in Japan, like Sumitomo Mitsui Banking Corporation or Mizuho. However, not all the branches offer these services, so before visiting a bank to exchange your fund, we suggest doing your research first before wasting your time.
Currency Exchange Machines
Placed around Japan, you can also find currency exchange machines. These can be difficult to use if you’ve never used one before, so try to look for someone to help you. Once you’ve got the hang of it, currency exchange machines are a convenient option for exchanging funds. Again, before you land in Japan, research the location of a few machines, so you know exactly where they are and how to get to them. Trust us, that’ll save you a lot of trouble.
5. Know how to withdraw money in Japan
Usually, when you travel to a country like Japan, you exchange all the money you need for the trip. But, if you ever need more, withdrawing money is possible, too. Here are some ways in which you can withdraw money in Japan:
At an ATM
ATMs offer withdrawal services for most supported cards like Visa or American Express. You’ll find ATMs scattered through out the country at stores, post offices, or major touristy spots. Keep in mind that there is also a service fee that your bank might charge for exchanging your cash through an ATM.
6. Know alternative methods of spending in Japan
Japan is big on using IC cards and online payment methods to do transactions as well. Here’s a closer look at these methods:
Mobile Payment Options
Ever heard of Paypal, Wise, Apple Pay, Samsung Pay, or even Garmin Pay? These are all online or mobile payment methods that allow you to make payments seamlessly from your accounts over these platforms. Paypal and Wise are online exchanges that allow you to have an account and process your exchanges with the touch of a button. You can then use their designated cards to make payments. Apple Pay and others will use your personal accounts and create a digital card for them, allowing you to make payments with your phone as if it were your physical card. You’ll find that most of the major cities in Japan support these payment types.
IC Cards
IC cards are used in stores, for transportation, or for vending machines. There’s an initial cost to buy one, but once you have it, all you need to do is recharge it and then you can use it to pay your way around Japan.
Final Thoughts
Being money-wise is essential for anyone planning a trip to Japan, and this starts with how and where you exchange your money. Do your research, find the right exchanges and watch the exchange rate. This is the first step to making a good exchange. From there onwards, enjoy your time in Japan!
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