bringing money to japan

[jns4chat]

i'm going to be staying for about 10 months but i'm not sure how to bring my money with me. for sure i'll be bringing enough for at least a few months, but i don't want to walk around with all that cash in my pockets. any other options? traveler's checks? asking my family to wire me the money when i get there? btw, can exchange students open bank accounts in japan?

[sashimidimsum7250]

I had a similar concern because so many places in Japan are cash-only. I don't like the idea of carrying so much cash on me.

Using an ATM in Japan to withdraw from your bank in your home country might be good option:

http://www.japanesepod101.com/forum/vie ... php?t=2792

[josiah]

i believe the only place
you can withdraw from
is the atm
which is at the
post office

last time i did that
i was charged $7.00

[sashimidimsum7250]

That's not true. The post office is not the only place. ATMs at 7-Eleven stores do indeed allow it.

[jns4chat]

is there any other way apart from withdrawing from my account back home? can i set up an account in japan (for a one-year student exchange program)

[markystar]

yes, you can set up an account in japan. you have to have a gaijin card and address and at least 1 yen.

i use Mitsubishi Tokyo UFG, but i'm thinking of switching to Shinsei bank as i'm told their ATM's are 24 hours and no service fees.

[JonB]

switching to Shinsei bank as i'm told their ATM's are 24 hours and no service fees.

That is true - their ATM's are not as common as other banks (the only one with less being Citibank) but you can also use other ATMs with no service fees I believe.

My finances are a bit screwy at the moment whilst we build the house but once done I think I will make the switch too

[josiah]

That's not true. The post office is not the only place. ATMs at 7-Eleven stores do indeed allow it.

すいませんでした。　＿（＿　＿）＿

[jns4chat]

i'm going to be staying for about 10 months but i'm not sure how to bring my money with me. for sure i'll be bringing enough for at least a few months, but i don't want to walk around with all that cash in my pockets. any other options? traveler's checks? asking my family to wire me the money when i get there? btw, can exchange students open bank accounts in japan?

what about traveller's checks? is it convenient to use/cash them in japan? (i will be staying in kagoshima)

[JonB]

Travellers cheques can be changed but it is a pain except in Hotels where you would not get the best rate. Changing them in banks is not straight forward here - I host many business visitors from India where the company insists on giving them travellers cheques to pay for hotels etc and I only know of two places (I am sure there are more) in downtown Tokyo where they can change them - kagoshima me thinks you will need a hotel or a lot of patience and a Japanese speaking friend to go with you to the bank.

If you have to try and go for Japanese yen travellers cheques as this is easier.

It's not like London where every third shop is a travel exchange bureau - market opportunity?

[jns4chat]

If you have to try and go for Japanese yen travellers cheques as this is easier.

is it easier to cash JPY traveller's checks?
i feel like my options are limited to lugging cash around or changing them into traveller's checks...

[skrba]

When I came to Japan, I brought all in cash and then opened account in Mizuho and put the all money on it. They gave me credit and cash card in one so I always go to ATM and withdraw as much as I need and that is very secure even if I lose the wallet (just will inform the bank to stop the card). I am very satisfied with this and looks much better than paying big fees each time, especially if you are going to stay longer.

[JonB]

sorry missed the bit that you are staying for 10 months.

Yes JPY travellers cheques are easy to change in any bank or post office - though I would recommend post office.

Or better yet if you have internet banking and can view your credit card online I would recommend using credit card. Also you can draw straight from your overseas account if you have that facility.

[jkid]

Also you can draw straight from your overseas account if you have that facility.

That'd be a little expensive wouldn't it? I thought there was a lot of surcharges related to doing that. Conversion fees and so on.

[JonB]

I think that depends largely on your bank and you should check before using the facility.

I am not sure if the guide books still go on about Japan being a cash society but credit cards are now widely accepted - it's the duration of your stay that causes some problems there if you have no online checking service with your cc provider.

I am surprised that there aren't others out there that can give you better advice who have been through it. I live here and get paid here but still have banking facilities at home so if friends and family come here I get them yen and they pay into my account back home on their return - win, win as I still have bills to service in the old country!