Best place to exchange USD to JPY

[Cyka UchuuJin]

Before you flame me, yes, I did search, but only a thread from Iraira came up from 2008 which seems to be dead.

So where is the best place in Tokyo to turn hard earned dollah into the not so mighty yen?

[kurogane]

The source was sketchy but apparently this place has its tentacles everywhere:
http://www.travelex.co.jp/JP/Home/

viewtopic.php?f=10&t=29292&p=383426&hilit=banks#p383426

Joking about the sketchy part. It was Yanpa.

[Cyka UchuuJin]

Ok so either i'm beyond sleep deprived, or Travelex does not change USD into JPY??? I can't find it listed anywhere on their site, it just shows how much JPY is needed to buy x amount of USD. I have a lot of USD that I need to buy JPY with because owner of my apartment has changed her mind again and now wants JPY and not dollar and not done by bank transfer!

[Samurai_Jerk]

Ok so either i'm beyond sleep deprived, or Travelex does not change USD into JPY??? I can't find it listed anywhere on their site, it just shows how much JPY is needed to buy x amount of USD. I have a lot of USD that I need to buy JPY with because owner of my apartment has changed her mind again and now wants JPY and not dollar and not done by bank transfer!

I have no idea what the website says, but of course they do. I've used the one in Ueno and Asakusa for that. Hell they even take Thai baht and Brazilian real.

[wagyl]

The website is designed for the usual user case: the Japan site will overwhelmingly be selling foreign currencies to people who have JPY. The online store which couriers you money will only offer foreign currency.

They will be happy to by your USD from you and pay you JPY in return, at a retail outlet.

[Cyka UchuuJin]

awesome. thanks for the info without too much flaming of me!

[Takechanpoo]

the chance to make your asset increase is coming again.
yen will be getting stronger to 80-90 per usd.

[TennoChinko]

This comparison of rates was done in 2012, just once, but at least it should give you a basic idea:

https://tokyocheapo.com/business/financ ... h-for-yen/

Daikokuya might be the best , but you need to check it yourself. Generally , my experience with TravelEx is every time I happen to check , their rates seem to be the worst. I (mistakenly ) thought all rates with city banks and japan post were the same.

[Russell]

This comparison of rates was done in 2012, just once, but at least it should give you a basic idea:

https://tokyocheapo.com/business/financ ... h-for-yen/

Daikokuya might be the best , but you need to check it yourself. Generally , my experience with TravelEx is every time I happen to check , their rates seem to be the worst.

Hell, I have the same experience.

I avoid TravelEx like the pest.

[yanpa]

Could very well be, take my advice as sketchy as I've only ever used them the once to exchange some monopoly money which came my way, but it seemed a quicker experience than taking a number at whatever Tokyo Mizubushi UFJ Ho Bank.

[Samurai_Jerk]

I guess it really depends on what you mean by best. Yes banks will give you a better rate but for speed and simplicity you can't beat Travelex.

[Russell]

I guess it really depends on what you mean by best. Yes banks will give you a better rate but for speed and simplicity you can't beat Travelex.

I normally change at the airport, so speed is no issue at any bank.

Rates at airports in Japan tend to be good. Many airports abroad are terrible in this respect.

[dimwit]

Funny. For the Canadian Dollar it is the opposite. Japanese airports give you terrible exchange rates generally about 3-5 cents less than you would at a Canadian airports. Mind you Japanese banks are brutal, with exchange rate 10 cents off what you can get in Canada.

[Samurai_Jerk]

I guess it really depends on what you mean by best. Yes banks will give you a better rate but for speed and simplicity you can't beat Travelex.

I normally change at the airport, so speed is no issue at any bank.

Rates at airports in Japan tend to be good. Many airports abroad are terrible in this respect.

So you're saying the best place in Tokyo to exchange dollars to yen is Haneda Airport?

[Russell]

I guess it really depends on what you mean by best. Yes banks will give you a better rate but for speed and simplicity you can't beat Travelex.

I normally change at the airport, so speed is no issue at any bank.

Rates at airports in Japan tend to be good. Many airports abroad are terrible in this respect.

So you're saying the best place in Tokyo to exchange dollars to yen is Haneda Airport?

I always use Kansai Airport to exchange my currency, and select the bank with the best rates. This is usually some bank with an unknown name. Changing Euros gave me better experiences than at European airports. Especially Rome Airport is a rip-off.

Dunno about Haneda.

[Cyka UchuuJin]

I guess it really depends on what you mean by best. Yes banks will give you a better rate but for speed and simplicity you can't beat Travelex.

I normally change at the airport, so speed is no issue at any bank.

Rates at airports in Japan tend to be good. Many airports abroad are terrible in this respect.

So you're saying the best place in Tokyo to exchange dollars to yen is Haneda Airport?

I always use Kansai Airport to exchange my currency, and select the bank with the best rates. This is usually some bank with an unknown name. Changing Euros gave me better experiences than at European airports. Especially Rome Airport is a rip-off.

Dunno about Haneda.

Dunno the last time you did that, but I changed 3500USD at the bank with the 'best' rate in KIX and lost nearly 60.000 in the transaction.

I finally told my landlady that she's going to have to wait until I am back in July to get the rent in cash if she isn't going to accept a bank transfer. Unfortunately with my new business, the majority of my clients are foreign and are paying into my foreign accounts, so if I don't find some good local clients soon, I'm going to look at moving back out of Japan. Again.

[jingai]

Question- if you are getting paid in dollars and getting those into foreign accounts, can't you simply transfer money into a checking account and then withdraw via a Post Office or 7-11 ATM? I didn't have any fees to withdraw yen from foreign accounts and the exchange rate seemed reasonable. It's going the other way that's harder and I use Shinsei bank to move yen into US checking accounts (best done infrequently as there is a service charge per transaction).

[Wage Slave]

Or use a one of the online exchange services to bring a decent chunk of money each time. The rates are about 1% over the interbank rate and if you transfer a minimum of about 7,000 USD they cover the transfer fee. Send the money to a Shinsei account and it's available within a week at most. I use WorldFirst but there are plenty others.

[inflames]

In Osaka I go to kinken shops - for USD the spread is ridiculously low (like .7% difference from the interbank rate). Not sure where the good ones are in Tokyo though.

I wound up exchanging 500k yen to USD last December and the people there didn't blink an eye.

[gaijinpunch]

the chance to make your asset increase is coming again.
yen will be getting stronger to 80-90 per usd.

Nice crystal ball.

Why not open up a Prestia or Shinsei account? The former is 1 yen per USD, the latter even cheaper and slides down based on how much you leave sitting in an account (making of course no interest).