Yen

Discussion in 'Japan' started by mrtonya, Nov 9, 2012.

  1. mrtonya

    mrtonya Hard Yards

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    Hi
    Previous years I've purchased my yen at Australia Post before heading over.
    Are there better deals out there?
    Thanks
     
  2. scottik187

    scottik187 Hard Yards

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    Get a friend who works at a bank to change it over.
     
  3. M_G

    M_G M_G_ = Make skiing great again
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    Do a little bit of a search - there's been a few discussions on this including one very long arsed thread.

    I haven't purchased currency in 20 years. As soon as ATM's came along with international access that was it.
     
  4. Donza

    Donza Pool Room

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    Where do you live?
     
  5. Sandy

    Sandy Dark Sith Lord of the Pool Room
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    Or swap it over with a friend who lives in Japan(gets paid in Yen) who has a bank account in Australia!!! [​IMG]
     
    #5 Sandy, Nov 9, 2012
    Last edited by a moderator: Nov 12, 2013
  6. Donza

    Donza Pool Room

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    If you live in Sydney.
    Goto KVB Kunlun at 9am
    Best rate by a miles.
     
  7. mrtonya

    mrtonya Hard Yards

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    I'm in Wollongong.
     
  8. moz

    moz Hard Yards

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    #8 moz, Nov 9, 2012
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  9. Stratus

    Stratus A Local

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    Question. Those rates are for Telegraph Transfers.

    Isn't the going rate for Credit/EFT set by VISA and not the bank?
     
    #9 Stratus, Nov 9, 2012
    Last edited by a moderator: Dec 15, 2013
  10. WaitAwhile

    WaitAwhile One of Us
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    We done pretty well the same thing ,used cash(yen) from aust post.
    The first time we went to Japan we took aussie dollars over thinking we would get a better exchange rate over there,big mistake for us ,as when we were there no one wanted aussie dollars and the ex rate was shit.So since then we have got our cash from aust post,seemed to have the best rates,also have used c/c cards on the odd occasion but have been hit by big currency exchange fees.We have not used preloaded travel cards or debit cards in Japan as we have always felt pretty safe there.It has been 2 years since we were last there,so things may have changed.
     
    #10 WaitAwhile, Nov 9, 2012
    Last edited by a moderator: Dec 13, 2013
  11. Donza

    Donza Pool Room

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    Yeah cool
    I am too.
    Its worth the journey.
     
    #11 Donza, Nov 9, 2012
    Last edited by a moderator: Dec 13, 2013
  12. PMG

    PMG One of Us
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    Wednesday was the best day in quite a while to exchange some bucks. No interest rate drop and Obama being returned spiked the rate to 84. Back to 82 now. Still okay.
     
  13. Jamesc

    Jamesc Hard Yards

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    We always just use the atms, Always works out much better than buying a heap before we go.
    We normally get out 50,000+ at a time and that will last around a week depending on activities. What ever is left in the wallet at the end of the trip gets put away fro the next one, so we dont need to worry about cash when we arrive.
     
  14. travelislife

    travelislife One of Us
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    28degreescard and citibank debit card, you won't do any better, I challenge you too!
     
    Kerrie jackson likes this.
  15. Julio

    Julio Hard Yards

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    +1 for taking cash out from ATM's over there. I can't remember exact rates but I recall after factoring in bank exchange fees it was within .5 - .7 of the spot rate at the time (withdrawing from a CBA savings account).

    If you want to exchange some AUD>YEN before you go and in Melbourne contact EverForex a few days out. In the past they have offered better rates than KVB Kunlun. http://www.everforex.com
    Office is on Collins St, near cnr of Swanston st
     
    #15 Julio, Nov 9, 2012
    Last edited by a moderator: Dec 15, 2013
  16. Donza

    Donza Pool Room

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    Yeah last trip i just got 50k at kvbkunlun. Then used credit card and 7.11 atms. Was pretty comparable.
     
  17. Born2ski

    Born2ski Part of the Furniture

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    Same. I've used Post Office and 7-Eleven ATMs in Japan without any issues. Also the ATMs at Narita airport.

    As for which cards ? I use to have a NAB Gold banking Visa but they have now increased their international fees. So I recently got a Citibank Plus account Visa, no international fees. Use this site to work out what rate you'll get, just put 0% for the bank fee.
    http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp
     
    #17 Born2ski, Nov 10, 2012
    Last edited by a moderator: Dec 15, 2013
  18. Texy

    Texy Hard Yards

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    Damn that is a good rate! I usually take a fair bit of cash to avoid needing to hit the ATM much but that rate is 4-5 yen better than the Ex cash rate... Is that what you get for as a visa debit withdrawal or only purchases?

    The rate listed for today is only .6 lower that that listed on XE currency
     
  19. TJ

    TJ One of Us

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    I recommend having some cash on you when you arrive. There are plenty of 7/11s around but this will save you from having to hunt one down.
     
  20. tbnext

    tbnext One of Us

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    Me too, it's probably changed but I couldn't use an ATM without a day destroying bus trip.
     
  21. Born2ski

    Born2ski Part of the Furniture

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    That's for ATM withdrawals and purchases, no difference. But remember that's with the Citibank Plus VISA which has no international fees. Most other "normal" credit cards will hit you with a couple percent in fees plus an ATM withdrawal fee.
    http://www.citibank.com.au/aus/banking/everyday_banking/citibank_plus.htm

    And as for trying to find an ATM, we just use the ATMs at Narita airport when we first arrive, no need to find a 7-Eleven.
     
    #21 Born2ski, Nov 12, 2012
    Last edited by a moderator: Dec 15, 2013
  22. Slaine

    Slaine First Runs

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    I like to hit the ground running with some cash at least, so have generally taken over about 1k AUD. Used Australia Post the last three years, easily been the best deal for me. But doing research a few weeks ago I stumbled across the Qantas Frequent Flyer transfers. I think the difference between their rate for 1k and Australia Post ended up about $6 difference in Australia Post's favour, but by the same degree, you get a pretty good supply of FF points for it.
     
  23. Texy

    Texy Hard Yards

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    Sweet thanks!!
     
    #23 Texy, Nov 12, 2012
    Last edited by a moderator: Dec 15, 2013
  24. Heinz

    Heinz Old n' Crusty
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    I'm still very much old school here and stick to cash mostly. Partially just out of habit of 25 years but also due to the fact that ATMs are still not as prevalent in many parts of Japan as they appear to be in Tokyo and Hakuba.

    Never had any issue carrying around Y100K or so in a mix of Y10000 Y5000 and Y1000 notes. Saves having to try and search out ATM's.

    Other parts of the world - ATM's no probs.
     
  25. rikedwards

    rikedwards Hard Yards

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    Thanks for the tip Slaine - I just checked the Qantas Exchange v's Auspost and its almost exactly the same.

    I will take the QFF points!
     
  26. Slaine

    Slaine First Runs

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    No worries. Lemme know how it goes for convenience, I'm looking to that for next trip, but if its a nightmare, I'm happy for you to be the guinea pig! [​IMG]
     
    #26 Slaine, Nov 12, 2012
    Last edited by a moderator: Nov 12, 2013
  27. mrtonya

    mrtonya Hard Yards

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  28. Slaine

    Slaine First Runs

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    Ooooo, nice find!
     
  29. skiflat

    skiflat Part of the Furniture

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    You pay 1% commission to Qantas to get those points

    If you redeem the points for toasters/gift cards/economy flights it's a waste of time as they are valued at less than 1%

    If you use the Qantas points for long-haul business or first class flights the points are worth 3-6%
     
    #29 skiflat, Nov 13, 2012
    Last edited by a moderator: Dec 13, 2013
  30. sastrugi

    sastrugi Part of the Furniture
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    Thanks! This is good advice. WE'll do the same.
     
    #30 sastrugi, Nov 13, 2012
    Last edited by a moderator: Dec 13, 2013
  31. JA2340

    JA2340 Part of the Furniture
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    Yeah ... BOQ looking the goods. Local branch too!! WOoHoo! Thanks mrtonya, you just made my day! [​IMG]
     
    #31 JA2340, Nov 13, 2012
    Last edited by a moderator: Dec 13, 2013
  32. scullee

    scullee Old n' Crusty
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    #32 scullee, Nov 13, 2012
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  33. Doonks

    Doonks Let's cook!
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    Been using KVB for nearly 6 years now. Always the best, and the cash in that place [​IMG] [​IMG] [​IMG]
     
    #33 Doonks, Nov 13, 2012
    Last edited by a moderator: Nov 12, 2013
  34. Texy

    Texy Hard Yards

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    They need an office in Brisbane [​IMG]
     
    #34 Texy, Nov 13, 2012
    Last edited by a moderator: Nov 12, 2013
    Any likes this.
  35. gibbsy

    gibbsy Hard Yards

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    would imagine there must be somewhere in Surfers that'd provide a pretty good service for yen.... anyone know?
     
  36. MikeM

    MikeM Hard Yards

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    I happened to be in Townhall Station today and walked past CityForex. They had $1 AUD = 80 JPY with no commission.

    I swipped my EFTPOS card for $100 and walked away with 8x1000yen notes. Just checked online banking and definitely only got charged $100 no other fees.

    Appears to be a better deal then most exchanges.

    Below are the other rates today, 80 to 1 is better.

    [​IMG]

    This will do me until I get to an ATM in Japan and use my 28Degrees card.
     
    #36 MikeM, Nov 14, 2012
    Last edited by a moderator: Nov 12, 2013
  37. mrtonya

    mrtonya Hard Yards

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    Slowly creeping up.
    Y83.99 this morning.
     
  38. Slaine

    Slaine First Runs

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    Highest its been since April! Hopefully continues
     
  39. PMG

    PMG One of Us
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    It got higher last week after the US election. This time it's because of the bad econkmic news out of Japan.
     
  40. malibu

    malibu Hard Yards

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    Kings Currency - 1/38 Orchid Ave 07 5526 9599

    They'll beat the BOQ price IMHO - been using them last 3 trips on a tip from a Japan regular - if the yen is say 83 they'll sell you cash for about 81
     
    #40 malibu, Nov 16, 2012
    Last edited by a moderator: Dec 13, 2013
  41. Texy

    Texy Hard Yards

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    Nice!!! Yep just rang Kings (Crown) and the are offering it 81.38.
     
  42. malibu

    malibu Hard Yards

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    They are always better than the banks

    The awesome power of networked knowledge once again

    I would avoid the place for the next 2 weeks though - Schoolies is starting tonight...
     
  43. Texy

    Texy Hard Yards

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    They got branches all over Brisvegas too... even Toowoomba!
     
  44. peteski

    peteski Hard Yards

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    Never heard of KVB Kunlun till now. Just gave them a call and they quoted me 82.5 for the yen.

    Pity they only open weekdays as I don't work in the city, makes it hard to go in and get the good rates.

    I've used the exchange booth on Swanston St Melb next to Nelayan indo restaurant for my previous 2 trips to Japan and their JPY rates beats the others in the area.
     
  45. Snorkler

    Snorkler Part of the Furniture

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    Get a 28 degrees card before going, load it up with cash before departure... today you'd probably get 84 yen when you withdraw from an ATM.
     
  46. Mercyrx3

    Mercyrx3 Hard Yards

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    Everforex is currently 84.2
     
    #46 Mercyrx3, Nov 19, 2012
    Last edited by a moderator: Dec 13, 2013
  47. Looney01

    Looney01 First Runs

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    Japan will be trying push the yen lower against the US$ over the next few months so I don't think you need to rush. In fact you could see it as low as 86 yen to the AUD$ by xmas
     
  48. Slaine

    Slaine First Runs

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    Yeah, I'm hanging back at the minute, looks like there will be further improvements! Huzzah!
     
  49. JA2340

    JA2340 Part of the Furniture
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    Pushing towards 85 on the forex charts - hanging for a buy at 85!
    Got a "backup" wad at 80 last week.
     
  50. Looney01

    Looney01 First Runs

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    just broke 85 I think 86 is next stop