Get Yen at the Best Rate & Avoid ATM Fees in Japan! Travel Money Tips

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I will show you step-by-step how to withdraw Japanese Yen from a 7 Bank ATM in Japan. Plus how I avoid 3 common ATM fees to save $21 each time! ATMs give us the best exchange rate vs. exchanging cash at a currency exchange counter or buying Yen from our bank at home before traveling to Japan. Subscribe for more Japan travel tips: / kenshoquest
#japantraveltips #moneytips #currencyexchange #kenshoquest
FEATURED IN THIS VIDEO 🎬
Charles Schwab Checking: www.schwab.com/checking
Visa exchange rate calculator: usa.visa.com/support/consumer...
TIME STAMPS
00:00 How to use 7-Bank ATM in Japan
00:17 3 Fees to watch out for!
00:35 Step-by-step using ATM
00:44 Exchange rate for currency conversion
01:14 First fee to be aware of
01:49 Second fee
03:41 Third fee
04:55 Always proceed in Yen
05:31 Final step
06:30 Saved $21!
07:08 Summary
07:37 Subscribe for more Japan travel tips
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Aloha! We are a worldschooling family with three young kids. Our home base is the beautiful island of Oahu, Hawaii. We've been living a nomadic lifestyle for the past 15 years. We hope to inspire you to begin your own quest!

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30 июн 2024

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Комментарии : 107

@KenshoQuest Месяц назад

Please subscribe for more Japan travel tips! ru-vid.com

@dennistani1986 Месяц назад

I've been living in Japan for 6 years, and must say you have done an excellent job in this video! 7-11 ATM's are the best. The service fees are excellent, and the exchange rates are very good. Many US backs will refund ATM fees back to your bank account. The other bank I've used is Japan Post Bank ATM's, but their service fees are higher. If possible, don't use your credit card for cash advances, fees are much higher. Take care!

@KenshoQuest Месяц назад

Thanks!

@randxalthor Месяц назад

We also used Schwab checking for our trip to Japan. Worked like a charm!

@FluffyBunny9002 Месяц назад

This channel is life saving for anyone looking to travel to Japan.

@winolalau5749 Месяц назад

Such detailed information. Appreciate it

@Megzeazez Месяц назад

Your videos have been so helpful for me planning my first trip to Japan for my honeymoon. Very glad I found your channel. Thank you!

@andylawcc Месяц назад

excellent details!

@rustblade7 Месяц назад

Thank you so much for this, I learned a ton!

@CiscoRoo Месяц назад

Thank you, very much. This was to-the-point and easy to understand.

@KenshoQuest Месяц назад

You're welcome!

@christinefox9892 Месяц назад

You've explained this so simply - thank you! I hadn't even thought of getting cash this way before, and found currency exchange. I just looked at my bank's rates and fees and this is 100% a better option for me. Love your blogs! ❤

@crossofamber 10 дней назад

Outstanding!

@PeteCorp Месяц назад

This is great info. Thank you for making this as a separate video. I just got back from Japan last week and I followed your same advice learned from your past videos. Thank you.

@KenshoQuest Месяц назад

Awesome! Thanks for letting us know. What was your favorite part of Japan?

@traveleeyore Месяц назад

Thank you for your amazingly well put together video! I’ve seen so many tips about local or USD currency but no one ever explained why and what’s happening behind each choice; until your video. Thank you!

@KenshoQuest Месяц назад

You're welcome!

@chenchina4577 12 дней назад

Excellent info put forth in clear, easy to understand language. Bravo!!

@KenshoQuest 12 дней назад

Thanks!

@dean93arr Месяц назад

I came here just to say thank you to you guys.. I just came back from my Japan Trip.. your videos help me a lot while studying to make my itinerary for the trip.. keep up the good work!

@KenshoQuest Месяц назад

Thanks for letting us know! We’re glad you enjoyed Japan!🇯🇵

@diamonddoom1538 17 дней назад

Thank you SO MUCH for this upload!!! Very helpful

@KenshoQuest 17 дней назад

You’re welcome!

@gracerussell9488 15 дней назад

Excellent information thank you

@KenshoQuest 15 дней назад

You’re welcome!

@63viet 27 дней назад

Very informative. Thank you..

@KenshoQuest 27 дней назад

You're welcome!

@JimMendenhall Месяц назад

You probably just saved me hundreds of dollars. Thank you!

@KenshoQuest Месяц назад

You’re welcome!

@y.kristine3597 Месяц назад

I’m a Japanese living in the US. This is a very usual information for me too for visiting Japan soon! Thank you very much!😊💖

@KenshoQuest Месяц назад

You're welcome!

@Casmar27 13 дней назад

Oh wow what a life saver this video is, $15 may not be a lot but after a few transactions it will add up. Thanks for the info.

@KenshoQuest 13 дней назад

You're welcome!

@ElijahNetzel 7 дней назад

Awesome video! Thank you! I still exchanged some usd to yen with wells fargo that way i have some cash when i land. I like to be prepared, especially since its my first trip outta the country

@KenshoQuest 7 дней назад

Have a wonderful time in Japan!

@durbodill 8 дней назад

I've been watching your videos in preparation for our Japan trip next month. You put out very valuable information and do so in a very concise and easily understandable way. You obviously put a lot of effort into your videos. Thank you for that! May I have a humble suggestion: While content and editing are great, your sound quality isn't. You seem to use the camera's mic and crank it up/normalize it later. This makes the sound very noisy and roomy. You could easily fix that by using (even cheap) dedicated mics, like clip-on lavaliers. Other than that, keep it up :-)

@KenshoQuest 8 дней назад

Sorry about the sound quality. We switched our sound recording set up recently, so hopefully it's fixed. We were having trouble with the RODE mics we wore not staying in place. We've switched to a boom mic, which seems to be working better.

@kobiorama Месяц назад

Thank you for this information. I understand that cash is still quite used in Japan so i thought to bring USD and change it there, but looks like it's going to be Credit cards and ATM...

@MinPDLandlord 26 дней назад

Thank you for the tutorial. I’ve been hearing about this charles schwab, if it’s not too bothersome, would you consider making a video explaining some details and insider knowledge about using the card? 🙏

@KenshoQuest 26 дней назад

Hi. Charles Schwab offers an Investor Checking Account, that comes with a debit card that refunds ATM fees. The checking account is linked to a Brokerage Account, but you can use just the checking. Here's the website: www.schwab.com/checking

@MinPDLandlord 22 дня назад

@@KenshoQuestthanks 😊

@bonwatcher Месяц назад

Thanks again, this did confuse me while traveling in Japan. I used the ATM at Lawson's because it didn't give any option to do conversion in home currency, but it also had a restriction of ¥50,000 per transaction. I really wish we had IC cards here in the US, they're so convenient for public transportation, vending machines, convenience stores, and some shops. 👍

@KenshoQuest Месяц назад

Thanks for sharing your experience! IC cards are awesome.

@MeetCarolas Месяц назад

@KenshoQuest George and Heidi Congrats on your AWESOME YT Channel as a content creator on youtube I really appreciated all your videos, superb quality and content! absolute AWESOME advice! started with your japan videos all the way to your awesome packing tips! Before we had kiddos did an around the world trip and can related a lot to your packing tips :) Now we are taking our first adventure with our kiddos to Japan ;)

@KenshoQuest Месяц назад

Thanks so much! Have a wonderful time in Japan. It's a very kid-friendly country to visit.

@MeetCarolas Месяц назад

@@KenshoQuest Thank you! also RESPECT for traveling with 3 small kiddos and doing home schooling we aren't that courageous. We thought about it many times since I would love to spend 3 months with the kiddos in New Zealand on of our favorite countries of our around the world trip :)

@KenshoQuest Месяц назад

@@MeetCarolas I’m still dreaming of going to New Zealand someday!

@MeetCarolas Месяц назад

@@KenshoQuest you are going to love it! Its also very kid friendly, plus back in 2011 a lot of folks would walk barefoot in Queenstown :) We actually thought of living there with the kiddos for 1 year but couldn't sort out easly the school system for them and parked that idea ;)

@meilinlee9745 Месяц назад

I am traveling to Japan for 49 days in June/July 2024. Currently, I have purchased a SUICA (in green color, valid for 10 years) for 20,000 Japanese dollars (max amount) with my credit card via Apple Pay, which will be converted to US$ automatically, no transaction fees charged. This SUICA card is widely used in Japan nationally. It could be refilled via Apple Pay, whenever needed. No cash (Japanese dollars) needed, since you can use SUICA as digital cash to pay for transportation/meals/others at places accepting SUICA payments.

@KenshoQuest Месяц назад

Yes, a digital SUICA card is a great way to use less cash while traveling in Japan. We will include IC cards in our next video about the various ways to make payments in Japan.

@meilinlee9745 Месяц назад

@@KenshoQuest Love your videos! Useful information. By the way, award travel (mileage) credit card is also a great way to accumulate mileage.

@allent1034 Месяц назад

Wonderful video. I would add to check with your bank before you leave to make sure there are no holds on your account that protect it from foreign withdrawals. Also bring phone numbers of your bank to call from Japan if there are any issues.

@KenshoQuest Месяц назад

Thanks for adding those tips!

@kuri9573 Месяц назад

Yes!! This is so important. I forgot to do this before I left for my last trip and was stuck outside Lawsons on a phone call with my bank for 10 minutes trying to clear up the travel hold 😂 I'll never forget again!

@optimusp517 Месяц назад

Might have to open a Schwab account next time before I head to Japan.

@user-gm89000ssa 12 дней назад

Fidelity does some too

@Bakapooru Месяц назад

Your video showed a Mizuho Bank window as a foreign exchange counter. The window provides cash exchange at the same rate as withdrawing yen from the ATM next to the window. Whether it's 7 Bank, Mizuho, or Chiba Bank, they all give comparable rates. As the example, you should swap out with a shot of the Travelex counter down the hall.

@KenshoQuest Месяц назад

Thanks for pointing that out. We don’t have a video clip of the Travelex counter. Based on online records, it looks like Mizuho Bank was buying USD at 148.98 Yen per dollar on April 9, which isn’t quite as good as the rate I got from my bank using the ATM.

@staceyspt Месяц назад

Hi! Thanks for your videos, they are so helpful! I have a question -- what are the best ways to exchange cash in Japan? I don't have any cards and I'm going to take 3000$ with me for two weeks (hotels are already paid). So -- where should I go to change it to yens?

@KenshoQuest Месяц назад

Hi. There are currency exchange counters at airports and major train stations. Banks will also exchange foreign currency.

@AlistairClark99 Месяц назад

The advice to select the local currency also applies to using my UK credit card when paying for goods here in Brazil. The difference can be over 10%. 😮

@KenshoQuest Месяц назад

Yes! The same rule applies for making purchases with a credit card. Always select the local currency.

@CaptainKremmen Месяц назад

It applies to everyone. DCC is just a way businesses take money from fools.

@lm2906 Месяц назад

Thanks for the helpful video. Do you know if it is possible to withdrawal JPY at ATM machines using approximation (touch) of iPhone apple wallet’ digital credit/debit card, instead of physical credit/debit card?

@KenshoQuest Месяц назад

Sorry, I didn't see that option while we were in Japan, but I also wasn't looking for it. Maybe someone else can chime in if they know of ATMs that accept Apple Wallet touch.

@alexburr3923 9 дней назад

Thanks for the video. What do you suggest for Canadians who DO NOT have Charles Schwab accounts like Americans do. I use Wise selecting Japanese Yen from my "piggy bank". Is this the best way to withdraw from 711 ATM's?

@KenshoQuest 9 дней назад

Do you happen to have a Mastercard debit card? I’ve heard that debit cards that use the Mastercard network are not charged a transaction fee by 7 Bank ATMs in Japan. I’m not aware of which cards in Canada don’t charge foreign ATM fees or reimburse ATM fees. Although we’ve set up a WISE account, we’ve never used it to withdraw from an ATM. There is a conversion fee associated with switching our money into Japanese Yen through WISE, so I couldn’t figure out how it would actually benefit us.

@ngmx 29 дней назад

Aeon ATMs charge no fee. Just went on a trip this May and found this out. Wish we had known sooner!

@KenshoQuest 29 дней назад

Do you know which network your debit card uses (Visa, Mastercard, etc)? I heard that even 7 Bank ATMs don't charge a transaction fee if you use a Mastercard debit card.

@realivanjx 17 дней назад

any idea on how to exchange large bills into smaller ones and coins?

@KenshoQuest 17 дней назад

I make a purchase at a convenience store to break a 10,000 Yen into 1,000 Yen bills. I cover things like that in this separate video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-QKX8_MsuYFU.htmlsi=qCdrwlQBHhoQnYMn

@pandarush. 7 дней назад

Hello! When you make purchases other than an ATM, do you always use a debit card instead of a credit card? Thank you.

@KenshoQuest 7 дней назад

Hi. The only thing I use my debit card for is withdrawing money from an ATM. For purchases I use my credit card or cash. Here’s my video on payment methods in Japan: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-QKX8_MsuYFU.htmlsi=ymBp_i_60qFh9S2N

@markaidan3020 28 дней назад

Great video. If you use a mastercard branded debit cards there is no 220 yen fee as only applies for visa. Realise you got it refunded but for my visa branded card it was not. My back-up card was a mastercard so just moved to that.

@KenshoQuest 28 дней назад

Thanks for sharing! I’d heard that was the case for Mastercard debit, but wasn’t sure, since we only have Visa debit. Good to know for anyone who has a Mastercard debit card!

@SpoonFed90s 9 дней назад

Is it nationwide money bec im not from usa

@CaptainKremmen Месяц назад

How about Aeon Bank, which claims to have fee-free ATMs? (That would be a solution for everyone, not just Schwab customers.)

@KenshoQuest Месяц назад

Aeon Bank is another good option, just not as prevalent as 7 Bank ATMs. What I’m finding online is that the withdrawal fee for foreign cards in Aeon ATMs depends upon the card issuer www.aeonbank.co.jp/atm/en/page04/ That’s the same case as for 7 Bank ATMs, which I’ve heard don’t charge a withdrawal fee for Mastercard debit cards. I don’t personally have a Mastercard debit to test.

@english-wb2mb 14 дней назад

What is the difference between the credit, saving, and checking account types? You have a credit card that is connected to a single bank account. Why in the world do you need that screen at all? I have seen that screen only in Japan and the US. And it's always very confusing.

@KenshoQuest 14 дней назад

Hi. They are three different types of financial accounts. A checking account allows a person to make deposits and withdrawals to pay for every day expenses. A savings account allows for making deposits and storing money, but the number of withdrawals allowed per month may be limited. The money stored in a savings account may earn interest. A credit account doesn't have any money stored in it, instead it allows the person to borrow money from the issuer to make purchases. Some countries refer to "checking" as "current". I have a debit/bank card that allows me to withdraw from either my checking or savings account. Separately, I have a credit card, but I never use that in an ATM, as it would incur "cash advance fees" and a very high interest rate.

@IceCream-hp7mm Месяц назад

What do you think of using visa or master card debit cards?

@KenshoQuest Месяц назад

Hi. I only have Visa debit cards. I've heard that 7 Bank ATMs don't charge a Transaction Fee (110 or 220 Yen) when using a Mastercard debit card, but I don't know for sure, since I don't have a Mastercard debit to try. Keep in mind that your bank may also charge a fee for using a foreign ATM.

@CaptainKremmen Месяц назад

It would be good to know what the rates at a foreign exchange counter are like. In much of Asia, cash can be cheaper than an ATM, especially if you don't want a large amount of cash. In Malaysia and Thailand, for example, large denomination US notes can be exchanged at much better rates than any other currency, which can make it much better value. (Esp. in Thailand, which has high ATM fees) 220 yen is not a bad fee, but a fee-free foreign exchange window could be cheaper, depending on the rates. Do foreign exchange companies have their rates online so we can check easily?

@KenshoQuest Месяц назад

I don't know of a website to check Exchange Company rates. But currency exchanges are businesses that need to make a profit to stay in business. They generally either claim to be fee-free but charge a poor exchange rate, or provide a decent exchange rate but charge fees and/or commissions. They aren't going to give such a great rate that they lose money or make nothing at all. Yes, ATM fees in Thailand are high! That's why we opened a Charles Schwab checking account. We were tired of paying a $5 fee from our bank + $6 fee from the ATM, losing $11 each time we used an ATM in Thailand. The ATMs I use here in Malaysia don't charge any transaction fee. They just have a notice that your bank back home might charge a fee.

@CaptainKremmen Месяц назад

@@KenshoQuest It depends what margins they run at. Superrich Thailand is currently offering 36.56THB for USD at their head office. Google gives the interbank rate as 36.64. A fee of 22c per $100 makes cash just so much better. It's entirely likely your bank will delay and/or use a worse rate on ATM transactions, so cash may even beat ATMs outright. (Superrich has a web site and gives all of its rates at every location.) (I'm commenting as one of the 95+% of people in the world who can't open a Schwab account.)

@christinekng4812 Месяц назад

Do you know if cash exchanger got good rates from USD to Japan Yen? The cash exchanger located in the tourist centers located in Tokyo.

@KenshoQuest Месяц назад

Hi. We don't use currency exchanges since they don't usually offer as good of a rate as withdrawing from an ATM. I haven't looked closely at exchanges located in the tourist centers. You could check what exchange rate they are offering vs that day's exchange rate and whether they charge additional fees or commissions.

@christinekng4812 Месяц назад

@@KenshoQuest thank you 🙏. Your info is so helpful and appreciated!

@alfahilario4064 Месяц назад

What currency app are you using. Thanks

@KenshoQuest Месяц назад

It’s called “My Currency Converter”

@heythave Месяц назад

What about the use of REMITLY?

@KenshoQuest Месяц назад

We've never used it!

@emikami1 18 дней назад

Visa website has its own currency conversion calculator. I entered 50,220 yen from JPY to USD with no fee and got $331.397320 for 4/9/2024. The video shows $331.40 that was charged which is exactly the same after rounding to the penny. So maybe this Visa website calculator is perfect for Visa Debit card. Note that if you reverse the conversion from USD to JPY, the rate has about 0.44 yen spread which presumably is the wholesale spread which you never can get around (not at least with a Visa Card). The other puzzle is what about time zone difference? 4/9 in Japan can be 4/8 or 4/9 depending on the time of the day.

@KenshoQuest 17 дней назад

Yes, that's a great resources! Here's the website for anyone else who'd like to use it: usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html

@SpoonFed90s 9 дней назад

Can we insert cash .idont hve a debit or credit

@KenshoQuest 9 дней назад

No. You cannot insert foreign cash into an ATM in Japan. Instead, you can use a Currency Exchange machine or visit a Currency Exchange Counter.

@krystalvm2601 Месяц назад

How do you exchange cash?

@KenshoQuest Месяц назад

Hi. You could use a currency exchange machine or visit a currency exchange counter, such as at the airport or a major train station. We personally never exchange cash in Japan, as it would require bringing a large amount of our home currency with us and we wouldn't get as good of a rate as withdrawing from an ATM. We carry about $200 in emergency money, in case we need to exchange it, but we've never needed to in Japan.

@JoseRodriguezFrio Месяц назад

any advice for under 18 credit card users?

@MeetCarolas Месяц назад

@KenshoQuest, we also have Charles Schwab but are quite afraid of having the card copied or some kind of atm scams, unfornatetly they have in Europe. Have you faced any issues while in Japan? we are planning to use Revolut but they don't give you back the ATM fees like Schwab.

@KenshoQuest Месяц назад

We have never encountered a card skimmer attached to an ATM in Japan. Especially if you use an ATM inside a 7-Eleven store with a security camera, there is a low chance that someone could have tampered with the ATM. We have had our debit card info stolen when paying in a restaurant in Japan. We used our debit card that one time since our credit card didn’t work. We make most purchases in Japan by credit card, since it’s not linked directly to our bank account. Overall, Japan is a very safe country. 🌸 Heidi

@MeetCarolas Месяц назад

@@KenshoQuest Thank you Heidi :)