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Question Pay in JPY or AUD?

Discussion in 'Japan' started by Saski, Nov 26, 2019.

  1. Saski

    Saski First Runs

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    Hi, I’m a newbie to the forum. Have been reading posts here for a while now and picked up lots of great tips and info (Thankyou!). We are trying to get our heads around the best way to pay for our accomodation in Japan. We have 2 options – pay in yen into a Japanese bank account with a 3% card surcharge OR pay in AUD into Aus bank account at bank’s exchange rate. We have a Citibank Visa debit card. Do folks here have any advice on which option might work out best for us?
     
  2. Nozawaman

    Nozawaman A Local

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    Citibank card will give you best exchange rate
     
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  3. Dave6

    Dave6 One of Us Ski Pass: Silver

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    Find out what exchange rate your bank has and compare to Visa fx rate. I have been slugged with fees at both ends when transferring funds into a Japanese bank.
     
  4. Crispy013

    Crispy013 One of Us

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    Yeah transferring into a Japanese account from outside Japan is a royal PITA. So many hidden fees.
     
  5. M_G

    M_G M_G_ = Make skiing great again Ski Pass: Gold

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    I offer both options because everyone works it differently. Some can get money to JP cheaply and so that's a better option, whilst for others the numbers don't stack up and it's better to do the A$ transfer.

    Bottom line - crunch your numbers and go with the best deal.
     
  6. Donzah

    Donzah Old n' Crusty Ski Pass: Gold

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    Why can't you just pay cash/CC when you leave?
     
  7. Saski

    Saski First Runs

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    At first it seemed that paying in JPY with the Citibank Visa might be the way to go, however, given that we don’t know what the bank fees will be at the other end, it might be safest option to pay in AUD… in the end the difference may be only marginal. Thought we might get an extra bottle or two of umeshu, but that’s not going to break the bank! Shame the exchange rate is so pathetic this year… thanks for your responses.
     
  8. Donzah

    Donzah Old n' Crusty Ski Pass: Gold

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    That's odd for Japan.
     
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  9. M_G

    M_G M_G_ = Make skiing great again Ski Pass: Gold

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    Probably a foreign owned hotel. We collect a deposit and balance 30 days out.
     
  10. Saski

    Saski First Runs

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    We have to finalise payment in early December 60 days before we arrive. Have already finalised payment for another ski lodge which was 90 days in advance. Perhaps because they are not traditional Japanese ski lodges.
     
  11. Saski

    Saski First Runs

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    Um, yes, foreign owned maybe...
     
  12. Saski

    Saski First Runs

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    This is our fourth trip, we have previously paid cash on departure at ski lodges owned by Japanese nationals
     
  13. Donzah

    Donzah Old n' Crusty Ski Pass: Gold

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    Not my cup of tea. But each to their own.

    Why can't they just process your CC on their machine in Japan?
    Minimal fees then. Plus decent exchange rate.
     
  14. Saski

    Saski First Runs

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    I guess because they want payment in advance...
     
  15. M_G

    M_G M_G_ = Make skiing great again Ski Pass: Gold

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    Because that way the payment is made and the guests won't bail or not turn up. Happened too much with a few of my Japanese friends and have been encouraging them to at least take some sort of deposit.
     
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  16. Saski

    Saski First Runs

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    Fair enough, the Japanese are very trusting in that way really. But there's no way we won't turn up, we can't wait to get there!
     
  17. Saski

    Saski First Runs

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    Is anyone familiar with Transferwise?
     
  18. Any

    Any One of Us

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    I use Transferwise for basically everything here that accepts card, the exchange rate is better than what Citibank provides.
    They have fees to load up the cash tho, so for most people it won't be economical.
     
  19. Lucky Pete

    Lucky Pete One of Us

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    The Japanese owned places who dont take pre-payment suffer enormously some seasons with no shows. Like Nic we are trying to help some owners take pre-payments. With us its 70% down at time of booking the remaining 30% 60 days out. No refunds within 60 days. Its the only way to ensure flakey people dont bail at the last minute and leave you with a vacancy that cant be refilled as most OS guests book months ahead.

    I have used transferwise to send large amounts AU-JPN and rate it.
     
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  20. M_G

    M_G M_G_ = Make skiing great again Ski Pass: Gold

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    Example. Last season one of my local friends stayed up past midnight waiting for a group of Aussies to arrive who were staying for nearly 2 weeks. He called early in the morning and asked if I could try to contact them as he was worried something had happened to them. Got on to one of the blokes and he said, "Oh yeah, we decided to go to Hokkaido instead". Not a shred of concern that my mate was left with a couple of empty rooms in the middle of high season and they hadn't even bothered to tell him. I completely lost it with him. Wanker. Most people do the right thing but there is a not insignificant % that don't.

    Wow, I charge 25% with balance 30 days out. Might have to rethink! :eek:
     
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  21. FatBob

    FatBob Hard Yards

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    ^ I have booked 4 places ( all Japanese managed) for my upcoming trip and they are all at least 50%, upfront, the rest anywhere from 30 to 60 days out.
     
  22. Crispy013

    Crispy013 One of Us

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    I have 7 places booked. All pay on departure.
     
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  23. Froff Life

    Froff Life A Local Ski Pass: Gold

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    Maybe times are changing?
     
  24. Saski

    Saski First Runs

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    Citibank have just told me that they no longer allow transactions to Transferwise due to fraudulent transactions
     
  25. mannyk

    mannyk One of Us Ski Pass: Gold

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    When I pay my accom, with my citibank debit card,I have the payment option of in yen or Au. Whats the best way.?

    All my accom is full payment 14days out. Others years cash on dep at local Japanese places. But if it was my business I would be doing the same as Nic and Pete..

    In my business as a photographer I take deposit and full payment 2 weeks prior. This year a couple cancelled after making the booking (2.5k} 2 years in advance, 6 weeks out they asked for their deposit back. I lost a lot more than he did. Most of my booking have a average lead 1-3 yrs.
    Some people have no idea. I explained it to him.
     
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  26. Saski

    Saski First Runs

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    I don't have an issue with paying a deposit and paying in advance to secure my booking. Otherwise I'd use booking.com (and I do use that at times). I don't know how that's viable for businesses but I have noticed that a lot more places are doing non-refundable. I just want to find the least expensive way of doing this without losing too much in fees. I think the banks have had a pretty good go...
     
  27. mannyk

    mannyk One of Us Ski Pass: Gold

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    With draw cash from a ATM in Japan using your Citibank debit card. Or if Accom accept your Citibank debit card use that.
    Seems to me the best option.
     
  28. Any

    Any One of Us

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    NEVER choose the AU option.

    its basically a scam.
    youll get the lowest rate on the planet and they add a 2-4% conversion fee for the privilege.
    if your bank has international conversion r it avoids that, so people think they might win that way. but it doesnt avoid international transaction fee, which is usually the larger of the two fees.

    citibank doesnt have either fees, and while not the best they have a pretty good conversion rate too. so its obviously the better option.
    but even if you're with a shit bank with fees, its such a scam that its still cheaper to pay in JPY and get hit with the fees.

    (the AUD option isn't part of citybank, its provided by the payment provider of whoever your paying. its popped up so prolifically and offered so aggressively that i think they give kickbacks to the retailer to encourage it)
     
    #28 Any, Nov 27, 2019
    Last edited: Nov 28, 2019
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  29. mannyk

    mannyk One of Us Ski Pass: Gold

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    Thanks. Ive always just said in Au.. now I know better
     
  30. Stephen Allen

    Stephen Allen Addicted

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    Consider an online forex dealer, which I use such as https://www.torfx.com.au/. No fees whatsoever and reasonable exchange rate. Simply set up an account, determine cost of accomm in AUD, deposit $AUD into account, buy the required yen, which is deposited into your account, then forward to biller's/accommodation bank account. Very straight forward and not a single fee, whereas banks and credit cards... Have paid for my accom this way.
     
  31. Dave6

    Dave6 One of Us Ski Pass: Silver

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    No fees when you deposit into a Japanese bank account?
     
  32. Lucky Pete

    Lucky Pete One of Us

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    For us, yes there are, generally for the recipient. Some people include that and some people add it. You also get a phone call from the bank asking what the money is for. Thankfully they have stopped asking us every time we get a Square payment.

    Re booking.com, we still have to process 90% of the payments through there and set our own rules re refunds.
     
  33. Stephen Allen

    Stephen Allen Addicted

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    The accomm I have booked through has their own payment facility which does not include fees. Also, I have made similar transactions to UK and have not been charged fees. Its the best way so far, and I reckon an avenue for speculating on the forex market, which is how the owners of such forex facilities make a return.
     
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  34. travelislife

    travelislife One of Us Ski Pass: Gold

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    Always pay in the local currency in this scenario when the machine gives the option. The merchant is ripping you if you choose to pay in AUD.
     
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  35. Nozawaman

    Nozawaman A Local

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    I just went to the ATM and got out 50,000 yen it asked me if I wanted it charged at $AU716 . Clicked yen , checked on my Citibank acc $AU680
     
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  36. Saski

    Saski First Runs

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    Did you withdraw from Credit or Savings?
     
  37. travelislife

    travelislife One of Us Ski Pass: Gold

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    Doesn’t make a difference to the rate. As it’s a debit card the money comes out of your account either way. There is no actual ‘credit’ with the account. Pushing credit does provide additional fraud protections over savings, that’s about it is my understanding.
     
  38. Saski

    Saski First Runs

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    So, if you choose credit you get the Visa exchange rate and if you choose Savings you get the Citibank exchange rate, is that right?
     
  39. Any

    Any One of Us

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    its a mastercard, so this seems very unlikely.


    doesn't seem to matter what you choose.
    I even chose cheque one time and it still worked ;p
     
  40. Heinz

    Heinz Old n' Crusty Ski Pass: Gold

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    Can't understand people who do that. Abuse the trusting nature of Japanese owners and not give a rats. Arseholes. Same as people who double book and don't inform the other place.
     
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  41. Crispy013

    Crispy013 One of Us

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    For abundant clarity, all of the places I’ve got reservations for are not double booking anywhere. I too find it extremely unfair to book several places with the view to just picking one that suits.
     
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  42. LMB

    LMB Old but definitely not Crusty! Ski Pass: Gold

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    In contrast there’s me.
    Who booked 3 rooms in Sapporo because we were 90% sure another couple were coming but hadn’t made up their minds. They didn’t. I couldn’t cope with canceling the booking a week out and leaving them out of pocket so kept it and paid for 3 rooms for 3 nights when we only used two LOL
     
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  43. Saski

    Saski First Runs

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    Oops, yes, Mastercard...
     
  44. Any

    Any One of Us

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    I did scoff and go, 'doesnt matter what country, theyre just assholes'

    but I just realized I did it once too. I don't feel bad tho.
    I booked Narita 9 hours, arrived at about 11pm, lay in the capsule. but there was a japanese guy talking loudly on the phone below me. a guy playing music on his phone next to me. someone playing games on their phone nearby. and some aussies constantly abusing the crap out of the 3 of them, but were completely ignored.
    lying there, I was still able to cancel and refund my booking. find a great last minute hotel deal that was better price anyway, book it for 2 nights, and promptly left for the train.
     
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  45. Sandy

    Sandy Dark Sith Lord of the Pool Room Moderator Ski Pass: Gold

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    For me, a capsule hotel is something you try once as a gimmick and to see what it's like.... And scratch it off the to do list.
    If one night, go to a Karaoke instead... Cheaper, free drink, can order food, sound proof room. ;)
     
  46. Any

    Any One of Us

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    haha, ill have to try a Karaoke night.
    just sleep on the furniture? drunk enough i guess it doesnt matter.
     
  47. Nozawaman

    Nozawaman A Local

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    Who takes cash out on credit ????? 20+% interest from day of withdrawal then continues until WHOLE balance on card is repaid. Even loading up a credit card incurs a withdrawal fee usually :eek::eek::eek:
     
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  48. Dave6

    Dave6 One of Us Ski Pass: Silver

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    Citibank card is a debit card so I don't think it matters.
     
  49. Sandy

    Sandy Dark Sith Lord of the Pool Room Moderator Ski Pass: Gold

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    The furniture is usually comfortable to lie down on, and there's a special rate 11pm to 5am... About 2500yen including a drink in some places!!
     
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  50. LMB

    LMB Old but definitely not Crusty! Ski Pass: Gold

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    Just gotta go to the right type.
    ^ that’s the right type.

    Not the ones where it’s like a public bar and everyone is getting up on the stage and singing and partying together!
     
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