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

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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🌺 ABOUT US
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!

[@KenshoQuest]

Please subscribe for more Japan travel tips! kzbin.info

[@randxalthor]

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

[@FluffyBunny9002]

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

[@Megzeazez]

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!

[@christinefox9892]

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! ❤

[@winolalau5749]

Such detailed information. Appreciate it

[@rustblade7]

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

[@PeteCorp]

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]

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

[@andylawcc]

excellent details!

[@CiscoRoo]

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

[@KenshoQuest]

You're welcome!

[@dean93arr]

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]

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

[@traveleeyore]

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]

You're welcome!

[@dennistani1986]

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]

Thanks!

[@vegitoblue463]

@@KenshoQuestWhat are the types of debit and credit cards companies you can use that wont charge a fee for foreign atms?? Like the one used in video

[@vegitoblue463]

Also in the video instead of clicking checking is there any diffrence if I click Saving

[@KenshoQuest]

@@vegitoblue463 It you choose Savings, it will take the money out of your Savings account.

[@chenchina4577]

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

[@KenshoQuest]

Thanks!

[@crossofamber]

Outstanding!

[@diamonddoom1538]

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

[@KenshoQuest]

You’re welcome!

[@gracerussell9488]

Excellent information thank you

[@KenshoQuest]

You’re welcome!

[@63viet]

Very informative. Thank you..

[@KenshoQuest]

You're welcome!

[@Fun-lm6sk]

So clear! thank you!

[@KenshoQuest]

You're welcome!

[@rebeccaq.2656]

Great video! I will send your video to all my friends who are heading to Japan so I do not have to repeat myself :) I also use Charles Schwab's checking account and it is the best!

[@KenshoQuest]

Thanks for watching and for sharing!

[@y.kristine3597]

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]

You're welcome!

[@JimMendenhall]

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

[@KenshoQuest]

You’re welcome!

[@ElijahNetzel]

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]

Have a wonderful time in Japan!

[@kobiorama]

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...

[@Casmar27]

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]

You're welcome!

[@DS-ec6lt]

Thanks for all the video's you guys do. Very informative and helpful. But having just gotten back from Tokyo and after using the 7 Bank ATM I had to comment. My conversion rate for the 7 Bank atm ended up being 150 yen to the dollar. The current rate was about 158 or higher the past few days. That's definitely not a very good deal. I made sure not to use US dollars. When I was at the ANA terminal there was a currency exchange counter there and the rate was 156-157 which I thought was pretty good. And if I picked up yen at my local band I think it costs me about 2-3 yen less than the current rate.

[@MinPDLandlord]

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]

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]

@@KenshoQuestthanks 😊

[@durbodill]

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]

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.

[@MeetCarolas]

@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]

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

[@MeetCarolas]

@@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]

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

[@MeetCarolas]

@@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 ;)

[@bonwatcher]

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]

Thanks for sharing your experience! IC cards are awesome.

[@staceyspt]

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]

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

[@lm2906]

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]

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.

[@allent1034]

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]

Thanks for adding those tips!

[@kuri9573]

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!

[@gregh7457]

@@kuri9573 more important is to have skype on your phone so you don't have to pay for those 800 number calls to your bank in the usa.

[@Bakapooru]

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]

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.

[@ngmx]

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

[@KenshoQuest]

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.

[@alexburr3923]

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]

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.

[@realivanjx]

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

[@KenshoQuest]

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: kzbin.info/www/bejne/h3y7aZKDqNqMfLcsi=qCdrwlQBHhoQnYMn

[@vegitoblue463]

What are the types of debit and credit cards companies you can use that wont charge a fee for foreign atms?? Like the one used in video

[@KenshoQuest]

We use Charles Schwab. I'm not sure which other companies don't charge foreign ATM fees.

[@davidebert8034]

Awesome video! I’m just going to make sure Bank of America won’t nickel and dime me with fees. I will also tell Bank of America to raise my withdrawal limit and make sure they don’t charge transaction fees. Thanks for the much-needed information. I’ll be in Japan in 10 days!!!!!

[@KenshoQuest]

You’re welcome! Have a wonderful time in Japan!

[@pandarush.]

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

[@KenshoQuest]

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: kzbin.info/www/bejne/h3y7aZKDqNqMfLcsi=ymBp_i_60qFh9S2N

[@optimusp517]

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

[@user-gm89000ssa]

Fidelity does some too

[@SpoonFed90s]

Is it nationwide money bec im not from usa

[@momckids]

Are there ATM machines that you can insert foreign currency into to convert into Yen? I want to use USD/ cash instead of withdrawing from credit cards … TY

[@KenshoQuest]

There are Currency Exchange machines that accept USD and other currencies, to exchange to Japanese Yen. Those machines are different than ATMs. There are also Currency Exchange Counters.

[@WorldsEliteDeatHaze]

Hello, what if you have a no foreign FX fee credit card and prepay it to attain a negative balance first before using the atm? Would this avoid the cash advance fees and high apr since its your own money owed? Thanks

[@KenshoQuest]

I don’t know. I would carefully check the terms and conditions for your particular credit card.

[@IceCream-hp7mm]

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

[@KenshoQuest]

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.

[@meilinlee9745]

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]

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]

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

[@markaidan3020]

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]

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!

[@alfahilario4064]

What currency app are you using. Thanks

[@KenshoQuest]

It’s called “My Currency Converter”

[@SpoonFed90s]

Can we insert cash .idont hve a debit or credit

[@KenshoQuest]

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.

[@CaptainKremmen]

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

[@KenshoQuest]

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.

[@christinekng4812]

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]

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]

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

[@heythave]

What about the use of REMITLY?

[@KenshoQuest]

We've never used it!

[@kasperowskii311]

Hi, do they accept Revolute card ?

[@KenshoQuest]

Hi, we don't have a Revolut card so we don't know for sure. However, Japan is not on the list of countries where it won't work.

[@english-wb2mb]

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]

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.

[@davidalger5625]

The exchange rates at Narita aren't that bad, same as Haneda.

[@CaptainKremmen]

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]

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]

@@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.)

[@TH-lu9du]

I have to be careful with "fee free" currency exchange. The Chase branch in NY would provide a "fee free" exchange, but the exchange rate is 10% more expensive than what I get from Google search. So they just hid the fee, not removed the fee. The MUFG bank in Tokyo, when I had an account, would have a relatively small fee, and an exchange rate spread between the TTB and TTS rate of 2%, which IMHO was pretty good. I suppose they need the buy and sell rates to be different to account for the risk that arises from daytime currency fluctuations.

[@krystalvm2601]

How do you exchange cash?

[@KenshoQuest]

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.

[@emikami1]

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]

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

[@JoseRodriguezFrio]

any advice for under 18 credit card users?

[@MeetCarolas]

@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]

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]

@@KenshoQuest Thank you Heidi :)