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Yen

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

  1. blowfin

    blowfin One of Us Ski Pass: Silver

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    Managed to find a rate above 73.5 for cash exchange in Perth with UniMoni. Better than the 71 or so being offered by TravelEx and TravelMoneyOz.
     
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  2. Saski

    Saski Early Days

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    We used Crown Currency over the past couple of years, worth checking their rates if there is one close by.
     
  3. Mark*V

    Mark*V Addicted Ski Pass: Silver

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    I've just got 75.33 on my Citibank card this week
     
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  4. MisterMxyzptlk

    MisterMxyzptlk Old n' Crusty Ski Pass: Gold

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    Wow
    Is there a conversion fee?"
     
  5. Crispy013

    Crispy013 One of Us

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    Yeah I got similar 2 weeks ago. It’s a no brainier for me.
     
  6. Saski

    Saski Early Days

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    That's great. I got 74.5 from Crown a couple of weeks ago, plus taking Citibank card.
     
  7. Any

    Any One of Us Ski Pass: Silver

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    Citibank has no fees.
    No conversion fees. No atm fees. No account opening fee. No fee to receive the card. If your name is Fi you're not allowed to work there.
     
  8. RCN

    RCN Early Days

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    I would never bother using a money changer when it's possible to use the Citibank Plus account (fee free) to draw cash from overseas ATMs which are known not to charge fees (e.g. 7Bank). The rate you get is the Mastercard rate, which I find to be less than 1% worse than the mid market, I.e. something a brick and mortar forex outlet will never be able to beat. Plus the safety of not needing to carry large wads of cash with you from the start of the trip, just draw as you need.
     
  9. Crispy013

    Crispy013 One of Us

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    I’ve been trying to explain this to anyone I meet going travelling. Seriously, like speaking to a brick wall with some people. :eek: It’s not rocket science!! Citibank/28 Degree card for the win.
     
  10. blowfin

    blowfin One of Us Ski Pass: Silver

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    Yeah I just haven't been arsed doing it yet, saves me having to visit an ATM for a while too. My Amex and MC get really good rates and have low fees, I use them more and more every year
     
  11. Mark*V

    Mark*V Addicted Ski Pass: Silver

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    No fees
     
  12. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    And/or ING
     
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  13. blowfin

    blowfin One of Us Ski Pass: Silver

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    You're all a bit wrong actually. :p
    What I should have actually done is gotten myself the travel money card from my own bank, Westpac.
    Something to sort out for next year, i'll just wear those fees one last time like an ill fitting suit.

    Between booking 3 hotels, 3 flights, a hire car, getting my IDP, a SIM card, a JR pass, and sorting the other details for the trip, it just didn't get any priority.
     
  14. mannyk

    mannyk One of Us Ski Pass: Gold

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    Just to refresh my old brain, when using citi bank card.. do I select cheque, savings or credit?
     
  15. PMG

    PMG One of Us Ski Pass: Gold

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    Savings
     
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  16. PMG

    PMG One of Us Ski Pass: Gold

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    It does have ATM fees at Lawsons.
     
  17. Crispy013

    Crispy013 One of Us

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    Doesn't matter. I press credit.
    Because it is a debit card, it can only spend whatever you have put in there.
    Looking at my online account, it says its a Cheque account....so, I guess push whatever! LOL
     
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  18. mannyk

    mannyk One of Us Ski Pass: Gold

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    Thats good to know , I was going to load up at the Hotel Lawsons.. will now do at the airport.:thumbs:
     
  19. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    ING give you that back.
     
  20. travelislife

    travelislife One of Us Ski Pass: Gold

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    Have never seen a travel money card worth getting.
     
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  21. blowfin

    blowfin One of Us Ski Pass: Silver

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    This thread... I wrote a bigger reply but... the one I'm talking about is basically the same as the 28 degrees card, except it's a VISA. That card has been recommended by a bunch of people, I guess all the recommendations in here on that one are wrong too?LOL

    Use your card when you travel or to shop on an overseas site
    • Lock in your exchange rate in advance
    • No ATM withdrawal fees at Westpac Group ATMs and over 50,000 ATMs overseas 1
    • Avoid the 3% foreign transaction fee 2
    • Top up your card instantly in Online Banking
    • There’s no initial load fee or reload fee
    • Download the Global Currency Card app and load up to 5 currencies from a choice of 11.
     
  22. Any

    Any One of Us Ski Pass: Silver

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    Citibank charge you no fees to use ATM.
    the ATM can still charge you fees.

    711 ATMs have no fee.
    Lawson is like 200 yen I believe.
     
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  23. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    That’s why ING is better cause they refund all atm fees even ING.
     
  24. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    The problem with travel cards is the exchange rate they give you is very poor.
     
  25. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    28 deg is not a travel card. It’s a credit card.
     
  26. blowfin

    blowfin One of Us Ski Pass: Silver

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    That one is reasonable, the information is available on their website if you'd like to read it. 28 degrees are not transparent with the rates they offer.

    So is the Westpac card. I mentioned this above. The main difference is naming terminology.
     
  27. FatBob

    FatBob Hard Yards

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    'Locked in' at what rate though?

    Also, according to this https://www.westpac.com.au/international-travel/access-money-overseas/global-atm-alliance/
    There are no Westpac Group ATMs in Japan.
     
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  28. blowfin

    blowfin One of Us Ski Pass: Silver

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    The product might not be suitable for you then, and that's ok. Personally I couldn't give a rats if I have to pay a fee or two over a two week period, for the convenience and simplicity of not having to open an account or apply for a card through another provider. The lack of the 3% conversion fee is the good bit, and would far outweight any ATM fees.

    You'll also find Westpac don't have a charge for using foreign ATM's except for the charges imposed by the operator. So as with Any's advice on fees above, not an issue if you withdraw from 7i.
     
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  29. FatBob

    FatBob Hard Yards

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    That's great that you don't mind paying fee's but this thread is not about you its about pointing out the pros and cons of the various cards.

    The one you are talking about has a bad conversion rate and a 3% fee when using ATM's in Japan as there are no Westpac Group ATMs in Japan.
     
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  30. blowfin

    blowfin One of Us Ski Pass: Silver

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    I'm not sure if you're being deliberately obtuse, or haven't actually understood what I've written. It has a 0% conversion fee on foreign transactions, everywhere. There is no such thing as a "3% fee when using ATM's in Japan", or a Westpac fee for using a foreign ATM. There is such a thing as a fee charged by an ATM operator, and you are correct that Westpac will not re-reimburse those for a lot of ATM's in Japan. If you use 7i however (they are everywhere), there are no operator fees charged.
     
  31. Chillybin

    Chillybin Addicted

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    In Australia you use chq or Savings and transaction appears instantly on account. If you use credit in Australia it’ll take a few days to show up. Overseas you use credit, even if you press chq or savings it will revert to credit or simply decline
     
  32. mannyk

    mannyk One of Us Ski Pass: Gold

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    I will give that a try, doesnt sound like i can get it wrong, never had declined. Just couldnt remember what I used last year.
     
  33. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    And ING

    The best thing about ING is that you get the ATM fee back for international fees.
     
  34. K_Bird

    K_Bird One of Us Ski Pass: Silver

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    Not sure if anyone else has had issues with Mitsui Bank ATMs not accepting an ING card?

    I mainly used 7-11 ATMs with no issues, but I tried Mitsui three or four times and it was rejected every time.

    Not sure if other banks have issues too?
     
  35. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    I had an issue in niseko last March. But at one point it was def my error. But maybe one or two time it might have been the machine?
     
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  36. K_Bird

    K_Bird One of Us Ski Pass: Silver

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    Mine was definitely the machine. I didn’t even get to push any buttons, just put the card in and got a message along the lines of “We are unable to process your card. Please try again later.” When I tried again later (multiple different machines but all Mitsui) I got the same issue.
     
  37. travelislife

    travelislife One of Us Ski Pass: Gold

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    It definitely looks to be one of the better ones. But they still put a spread on the rate when you load money in foreign currencies. Looks to be 3% or thereabouts. That doesn’t happen with ING/Citibank/28degrees.

    28degrees rate is very transparent. Can be checked here daily: https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

    Just put fees as zero.
     
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  38. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    Yeah I think that did happen. But i realised later it was because I wasn’t using the international machine.
     
  39. travelislife

    travelislife One of Us Ski Pass: Gold

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    That’s great, but it is not the same as the other products discussed, due to the spread on rates applied by Westpac.
     
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  40. Froff Life

    Froff Life A Local Ski Pass: Gold

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    ING is annoying unless you already bank with them in Australia. The minimum number of deposits and withdrawals you need to make in the months leading up the the holiday is tedious. Citibank you can just transfer money onto and start using straight away.
     
  41. Ozgirl

    Ozgirl Part of the Furniture Ski Pass: Gold

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    Ah yes. True.

    I have a mortgage with them so those rules don’t apply.
     
  42. blowfin

    blowfin One of Us Ski Pass: Silver

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    Thanks, I wouldn't have thought to check there.
     
  43. skifree

    skifree A disciple of the blessed avi giraffe Moderator Ski Pass: Gold

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    Travellex appear to be dead after a hack back at New Years or Christmas and are still offline. Does anyone have any update on this?

    No don't tell me about Citibank.
     
  44. Any

    Any One of Us Ski Pass: Silver

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    yeah all their apis n everything i work with is also offline.
    i heard rumour they will be back on the 10th, but who knows.
    recommend finding alternative options.
     
  45. skifree

    skifree A disciple of the blessed avi giraffe Moderator Ski Pass: Gold

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    Any suggestions for alternatives for the purchase of a little yen?
     
  46. blowfin

    blowfin One of Us Ski Pass: Silver

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    https://www.unimoni.com/aus
    Might be better rates around, but I used the above, they beat the Travelex rate comfortably.
     
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  47. telenomore

    telenomore One of Us Ski Pass: Silver

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    Post Office offered one of the best cash buy rates for a long time (compared to banks and way better than Travelex) but not sure if they still do it. Only catch is you need to pre-order, I think 2 or 3 days prior to needing it.
     
  48. Froff Life

    Froff Life A Local Ski Pass: Gold

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    Any reason you don't want to use Citibank?
     
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  49. azzski

    azzski Should know better Moderator Ski Pass: Gold

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    Can second this, been a couple of years but I've used the PO in the past when buying amounts below the KVB Kunlun threshold.
     
  50. blowfin

    blowfin One of Us Ski Pass: Silver

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    Australia Post appear to use Travelex, this is on their website currently.
     
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