Money Question

[C110GTR]

I'm going to Japan this week and just wondering is it better to bring US$ to Japan than AU$?

Like should I exchange my AU$ to US$ and bring it to Japan?

Cos some country they have higher rate for US$ than AU$ and you will going to make extra money if you follow that path.

I've experienced this before in a different country and the difference between these two currency is unbelievable and I wished that time I exchange my AU$ to US$

[Rezz]

Eh? I don't get it... if change your AU$ to US$, your going to get less US$ to buy Yen with, therefore getting the same amount of Yen as you would if you changed directly from AU$ to Yen??? (assuming the exchange rate doesn't change for a few days) In fact you'd be losing on the bank fees because they'll charge you twice for changing the currency twice???

It's ealy in the morning guys be kind if I've got it all wrong... :coffee:

[C110GTR]

Last time I went to a different country I exchange a few AU$ hundreds and if I change my money from AU$ to US$ in australia including whatever charges and the rate, still comes up better from US$

[Rezz]

Which country did you go to? That might have something to do why you came out on top?

[Polski]

a lot of smaller euro countries trade US currency because its very common, unlike the AUD which you'll pay a premium for as no one uses AU dollar in europe. so in a sense, you'll be better of using US dollar in those countries, but that case is usually not too comon.

not sure about japan thou ? although I doubt its the case, Japan is much more developed and has a big stock/currency exchange.

[InspectorGadget]

Just bring the Aussie dollars and change them. If you change into US then to Yen, you'll be getting shafted twice with exchange fees and commissions.

Just remember that Japan is a cash based society. A lot of places don't accept credit cards, and often you will not be able to use your foreign c/crd in Japan.

[C110GTR]

thats cool

AU$$$$ then

[Evo_Lee]

AU dollars is fine...your also getting a better rate at the moment.

I have some US travellers cheques left over from my previous business trip which I'm not going to use because the exchange for US to Yen is currently poor.

[Rezz]

Thats settled then... I'm only slightly stupid...

[chopobo]

which option gives u more yen

converting all your money here in australia to yen

or doing it in japan

[someonestolecc]

Usually it would be better to purchase your currency in the home country. That's just my experience. It's best to check the rate from the Reserve Bank of Australia and the equivalent in Japan.

This will give you a clue to the rates they are giving... remember those are official rates and personal banking rates will probably add another 6% or so on top of that plus probably a fee of some sort.

Whatever you do don't use the tourist exchange places (you prolly already knew that).

I will try to find out for you where you can get the official rate in Japan.

Finally changing from AUD>USD>YEN = silly.

[martydaman]

http://au.finance.yahoo.com/m3

i use this all the time... remember, these are only current prices, buy and sell prices are slightly different

[lwells]

Are Japanese ATMs still as annoying as they were when I visted a couple of years ago? I remember it was nearly impossible to find ATMs that weren't tied to specific banks and their cards, and they seemed to be closed all the freaking time.

Definate cash society. Pack wads

LW.

[Evo_Lee]

24 hour ATM access is now commonly available at most of the convenient stores. But still your Cirrus or Maestro card will not work on Japanese ATM, only Citibank ATMs. Though I think some allow access to overseas visa card wihdraws.

Iwells exactly, most people complain but forgetting why Japan is like that, because we're comparing it to our society. It is perfectly normal to be carrying $2000 AUD in your wallet, this is a cash society rather than credit card as there is surcharges for using your credit card.

[Evo_Lee]

Here is something about exchange rates...if you ever get lucky.

A colleague of mine paid his hotel bill with his Visa while in the States. However the hotel clerk accidently punched in an extra zero and overcharged the hotel bill to my mate's Visa. Realising her mistake she reversed the charged amount and punched in the correct amount.

A month later my mate checks his Visa statement and also finds an extra $2000 USD in his account...which he is happy to keep .

So who lost money from the exchange rate, the hotel or Visa?

[C110GTR]

Is there a lot of Money Changer ei like Travelex or even small money changer (always seem better rate) in Osaka?

[Poida]

I know Japan is a cash society, but will a Visa card work from here, work over there? Im guessing big fee's and not many places would accept it right? Where if possible might it be used? I couldnt use one at an up garage or similar could I?

[Rezz]

I don't know about you guys, but I think more and more and more places in Japan (Osaka/Kobe at least) are accepting (read: have facilities) credit cards, and more and more "international" type ATMs are popping up. Well compared to 4 - 5 years ago definately. I any underground mall or adjacent to one of the larger banks you're bound to find a "Cirrus/Maestro" ATM.

But as far as the SAU traveller is concerned, the larger 2nd hand shops and of course SuperAB and tuning shops all take credit card. As do software shops, clothing, souvenir shops, restaurants etc, etc, etc.

So you don't have to carry heaps of cash on you... but of course save yourself the fees and carry all your cash on you

[funkymonkey]

How's the American Express card doin over there? Or Diners? Speaking of which, I've gotta check if my japanese bank account is still active... can't buy yahoo stuff without it.

[Laurence]

I bought all my goodies over there on AmEx...

Though one of my Japanese friends was a bit worried when I wanted to order some Ridox clothes online. Aparently credit card fraud is a big problem. My old local Japanese restaurant in Camberwell had a sign that they had be done for credit card skimming!

p.s. Why is it so hard to get onigiri in Australia? I love it!

In my opinion buying things overseas it really should be availabilty that is the concern rather than price. I will only really buy things that I cannot get in Australia as usually between being ripped off by smiling salesmen and exchange rates you are probably going to pay too much somehow. Though obviously sometimes the difference in price is huge to make it worth carrying around in your bag.