Currency Exchange on Your Trip to Japan
Japan is one of the most popular tourist destinations this year. Despite a flood of tourists arriving, it may come as a bit of a surprise that it isn't that easy to exchange your money.
Your currency exchange options will change depending on where you are in Japan too. While airports always have money changers, it isn't aways the cheapest option.
Where to Exchange Money in Japan
If you’re exchanging any of the major currencies (including Australian dollars), you should be able to do so at major banks and the main branches of post offices.
Currency exchange offices such as The World Currency Shop have counters that can handle a broader selection of currencies in all the major cities.
While currency exchange may seem like an obvious option, it’s worth looking into alternatives. Two options – withdrawing cash from an ATM or organising your currency before you leave – will deal you better exchange rates than exchanging traveller’s cheques or cash in the country.
If you choose to exchange currency in Japan, be sure to have your passport on you as you’ll be asked for identification.
International airports also have currency exchange offices but these tend to have worse exchange rates and higher fees than offices in the cities.
Since Japan is still predominantly a cash-based society, it’s important to always have some notes and coins on hand.
You can take Aussie dollars from home to Japan, but you’ll be limited to where you can exchange the currency on arrival.
It’s best to exchange your money at one of the currency exchange booths in the airport. Currency exchange offices are harder to find in town – even in touristy areas.
You can also exchange money at major hotels, banks, and post offices but you’ll always face a relatively poor exchange rate and – in the case of banks and post offices – the process can take ages. So ultimately, the airport is your best choice.
You’re more likely to get a good deal if you withdraw money from an ATM or – even better – order your currency before leaving Australia.
Japan offers several options for exchanging money, each with its own advantages:
- Airports: Convenient for immediate needs, though exchange rates may not be the best.
- Banks: Provide competitive rates but may have limited operating hours.
- Post Offices: Widely available and offer reasonable rates.
- Authorised Money Changers: These are found in major cities and tourist areas and often offer good rates.
- Hotels: Convenient but typically have higher fees and less favourable rates.
Is It Better to Exchange Money in Japan or Before You Go?
It’s almost always best to exchange your money into yen before you start your travels. A good approach is to take a combination of cash from home and have a travel-friendly debit card to withdraw any further funds from ATMs. Avoid exchanging large amounts at airports if possible, as they offer less favourable rates.
Tips for Exchanging Money
- Check Rates and Fees: Always compare exchange rates and fees before exchanging money. Rates can vary significantly between different providers.
- Keep Receipts: When exchanging money, keep your receipt. Some places offer better rates for re-exchanging yen back to your home currency if you show the original receipt.
- Avoid Dynamic Currency Conversion: Some ATMs and card terminals offer the option to charge in your home currency. This can result in unfavourable exchange rates and additional fees. Always choose to be charged in yen.
