Table of Contents:
How to use this guide
Before you go
Tips for booking your Flight Health & Wellness Check Passports, Visas, and Immigration Rules Packing Cellphones Money Budget Predictor Apply for a Micro-Credential
Program Information
Introduction Staff Communication with Staff Academics Housing CIS Abroad Activities Arrival Instructions Evaluations
Country / City Information
Cultural Differences Diversity Abroad How to Move Around Things to do on your own Sustainability Tips Mailing Instructions Shopping
Emergencies, Health & Safety
In Case of Emergency Culture Shock Health Insurance Health Onsite Safety Onsite Code of Conduct Independent Travel Form
Voting From Abroad
Student Hub Links:
Micro Credentials

Welcome to
Japan

Currency

Japan’s currency is the yen represented by the symbol ¥. Your dollar (USD) currently buys a bit more than 130 (JPY). Check the current exchange rate so you can get a sense for your anticipated cost of living as you look into various on-site expenses at xe.com – USD to EUR.

Japanese yen (JPY) comes in denominations of  ¥1,000, ¥2,000, ¥5,000 and ¥10,000 notes. Yen coins are issued in the following denominations: ¥1, ¥5, ¥10, ¥50, ¥100 and ¥500.

Currency & Exchange Rates

One of the first things to consider when leaving your home country to travel abroad is how to best handle the local currency. It can be a bit intimidating to think about, but this guide is here to help ease that anxiety. This section will cover when, where, and how to convert your money, cash, and bank accounts in Japan.

Before You Leave Your Home Country

  • Contact your bank
    • Before getting on the plane, make sure you call your bank. There are a few reasons for doing so. If you plan on using your home country's debit or credit card, ensure that you notify your bank of your travel dates before you leave. If you don't, your bank may think your information has been stolen and block your card.
    • It is also important to know about any foreign transaction fees your bank of choice may have for using your card in another country. It is important that you are aware of your bank's foreign travel policies for card usage before making purchases abroad. This could save you a lot of money during your time in Japan.
  • Get an Understanding of the Exchange Rate
    • Japan uses a currency called Japanese Yen (JPY) ¥. Currency exchange rates are constantly changing and shifting, so it is important to keep track of them in order to keep an eye on how much you're spending. Luckily, there are now many apps that keep updated lists of currency exchange rates. One recommendation is the Xe Currency Exchange app, which keeps an active update of the current currency exchange rates around the world.
  • When Should You Exchange Your Home Currency
    • Deciding when to exchange your currency can vary. Many banks offer currency exchange. Some offer it to their members for free, while others charge a rate depending on the current exchange rate. You may also be able to exchange through travel companies and agencies.
    • Many people will commonly wait until getting to the airport either in their home country or when they arrive at their destination. If this is the case, be sure to keep your eye out for the lowest rate you can find. There will be plenty of currency exchange counters at the airport, but your first option may not be your best option. Be sure to keep an eye out for the rates and fees for exchange that are listed.

Banks & ATMs

  • In Japan, cash is essential to keep on hand because many shops and other places will not accept cards or will charge additional fees for cards. Pro tip: Keep a coin purse with you for all of the change you will get, and be sure to spend it or change it into bills before you leave because you cannot exchange foreign coins to USD when you return to the US.
  • Most Japanese banks offer currency exchange services and most bank hours are Monday - Friday 9:00am - 3:00pm, though some larger banks have late hours for currency exchange windows and/or limited weekend hours.
  • Most ATMs operate 24 hours. You will find them in Banks and also at convenience stores and at the post office. Most offer foreign language services, including English. Postal ATMs often accept international debit cards. Convenience store ATMs vary by retailer, but also by location so try a few to see which one accepts your card.
  • Banks usually offer the best exchange rates to travelers.
  • Using ATMs in Japan may come with additional fees from your home bank, usually around 2-3% for international withdrawals and a set fee for using ATMs not affiliated with your bank.
  • Check with your bank for details on these fees and withdrawal limits. 
  • To minimize the fees, you can withdraw larger amounts less frequently, and make sure that the ATM card you use is linked to a checking or money market account, not a savings account. 
  • Verify that your PIN is a four digit number. Keep in mind that the keypad on Japanese ATMs does not have letters, and you will need to use a 4-digit number as a password.
  • Be cautious when using ATMs. Try to use machines that are attached to banks and are located in well-lit, familiar locations. Be aware of your surroundings when entering your PIN or withdrawing cash.
  • Cash Advances
    • You may be able to use a credit card (rather than an ATM card) to obtain cash advances from ATMs. Interest rates on cash advances, however, normally begin to accrue from the date on which the money is withdrawn. As such, credit card cash advances can be very expensive and should only be used as a last resort. 

Should you have trouble finding a machine that works with your card, check with your home financial institution, as they should be able to give you the location of a machine that functions on your network.

Credit and Debit Cards 

  • Japan is still very much a cash-based country, though this is changing and larger establishments often accept cards. However, unlike in the US where debit cards are widely accepted for small purchases, many stores, restaurants, and especially small businesses or street vendors in Japan will only accept cash.
  • A general rule of thumb is to always have both cash and cards on you no matter where you are in Japan. While some places might offer card payments as an option, there will be many more circumstances where cash will be the only option of payment. 
  • Having a debit card that you can use to withdraw cash at ATMs in Japan will be important. 

Tipping

  • Tipping is not a Japanese custom and will not be expected by service personnel. In fact, if you attempt to leave a tip, it may be turned down leading to a potentially awkward interaction. 

Wiring Money

If you find yourself in an emergency and need to access money, the best option is to use an international wire transfer service such as Moneygram or Western Union. Both these services provide general information and FAQs on how to perform an international wire transfer on their websites, which can be useful for you to understand the process and fees involved. This method can be a bit slower than an ATM withdrawal but it is an option available to you.

Next Chapter

Budget Predictor

We’re Here to help: +1-877-617-9090

Copyright © 2023 Center for International Studies | Legal