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 Posted: Mon Jul 02, 2007 6:20 pm
Hi everyone.
I'm planning to do study abroad in Japan, starting in mid December, and lasting for about 8 months. Since I'll be applying for the program in late August, I'm trying to get all of my business in order before going. I have one big question.
What's the recommended way to have money in Japan? I have a bank account and debit card here, and I'll also be getting a credit card. Both are Mastercard brand. I've heard that in Japan, most stores do not accept credit. And checks, of course, do not exist either, at least not in the same system.
But, are there ATMs that I can withdraw money at? Even if I do so, won't the ATM fees be INCREDIBLY high, since I'll be overseas?
If anyone has studied abroad, please let me know what you did for money. Keep in mind that I'll be there for about 8 months, so "temporary" solutions aren't really the best.
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Posted: Tue Jul 03, 2007 3:08 am
Whenever I travel abroad (and I have money sad ...) I use travellors cheques.
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Posted: Tue Jul 03, 2007 8:23 am
You should just open up a bank account at a Japanese bank when you get over there
Japan is very much a paper and coin economy, everything is paid for in cash
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Posted: Tue Jul 03, 2007 10:41 am
Clally Whenever I travel abroad (and I have money sad ...) I use travellors cheques. Traveling is one thing, but living somewhere for 8 months would make traveler's cheques pretty ridiculous. geishaboy You should just open up a bank account at a Japanese bank when you get over there Japan is very much a paper and coin economy, everything is paid for in cash This is an option I've been considering, but will it be easy to transfer funds from my american bank account into my japanese bank account? Because I'm not going to travel with 10,000 dollars in my pocket until I get to a bank. For the short-term I can have travelors checks and a few hundred dollars equivilance in yen, but I'll have to get the money issue resolved in a few weeks. Has anyone personally gone to Japan and opened a bank account for the duration that they've lived there?
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Posted: Wed Jul 04, 2007 3:58 pm
theres an ATM every where, and its in every conveinience store, which is everywhere.
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Posted: Wed Jul 04, 2007 5:59 pm
What Geishaboy said. If you're going to be here for 8 months, you'll want a Japanese bank account, because overseas atm fees are pretty exorbitant.
I've been living in Japan for 9 months, and one of the first things I did was open a bank account. I didn't want to have to pay a fee to convert travellers cheques when I got here, so I just brought all my money in cash. Sounds like you'll be bringing about 5 times as much as me though, so I can understand you'd want to be a bit more secure about it smile So I guess you could bring it as travellers cheques, or transfer money from your account at home, whichever is cheaper/easier.
Setting up a bank account here isn't difficult, the study abroad organisers should give you the details.
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Posted: Thu Jul 05, 2007 12:26 am
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Posted: Wed Jul 11, 2007 12:22 pm
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Posted: Thu Jul 19, 2007 5:20 am
(Hay Blinky!!)
In Japan ATMs are scarce in that foreign cards are only valid at certain ones - I remember having to walk like a mile and a half from our hotel to find one, at the Post Office, and this was in Kyoto's busy city area.
As aforementioned, you should try to get a bank account, and get used to carrying money around. Credit cards, if you even are given that option, in Japan are usually major department stores, and national businesses only -- if you find something you really like at an artisans shop or in a town, chances are you won't be able to use a credit card. And Japan is very safe - so even if you are carrying around a larger sum of money, it's better because cash/coin is prevalent as geishaboy mentioned.
And as a traveler tip, I'm not sure if this applies to you, but, never exchange your money at the international airport in America (I'm assuming you're leaving from here), they RIP you off a lot.
I exchanged about 50 bucks at LAX so I wouldn't starve when I landed last summer (exchange at hotels is much better, but you can only exchange x-amounts per day and its only open from certain times, but beside the point) and I got quite a bit less than 5000 yen. Yet, when I exchanged MORE in a hotel, actually got more than that, using 100 JPY = 1 USD as a rough conversion
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Posted: Thu Jul 19, 2007 3:04 pm
I'm sorry I can't give you details,
but when my sister was in Japan as a student for a year my parents were able to put money into a bank and she was able to get it through a bank in Japan.
You should go to your bank and ask about what they can do for you overseas and see if something similar is possible.
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Posted: Mon Jul 23, 2007 12:31 pm
The only time I had problems finding an ATM was in Hokkaido... but it was really cold so I wasn't about to go looking for one in the snow. I had a Visa card while in Japan (Honshu) at the malls they are accepted not always at 7-11 and restaurants. Small places want cash. It's all about the real money ^^;; The 500 ¥ coin really starts to weigh you down too... >< Make sure you carry cash all the time.
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Posted: Sun Aug 05, 2007 9:12 pm
BlinkyTheRed Hi everyone. I'm planning to do study abroad in Japan, starting in mid December, and lasting for about 8 months. Since I'll be applying for the program in late August, I'm trying to get all of my business in order before going. I have one big question. What's the recommended way to have money in Japan? I have a bank account and debit card here, and I'll also be getting a credit card. Both are Mastercard brand. I've heard that in Japan, most stores do not accept credit. And checks, of course, do not exist either, at least not in the same system. But, are there ATMs that I can withdraw money at? Even if I do so, won't the ATM fees be INCREDIBLY high, since I'll be overseas? If anyone has studied abroad, please let me know what you did for money. Keep in mind that I'll be there for about 8 months, so "temporary" solutions aren't really the best. I did it for 9 months. For the first few months, I used travelers checks that I exchanged for cash every now and then. After that though I just used my debit card. Personally, I rarely had a problem finding a post office (except maybe in a small town, but that was just more of a problem of physically locating it rather than having to go out of my way to get to it. It was quite near the station, which I imagine is probably pretty common, though I can't say for sure), and as for the fees, it was usually only about 2.00 per transaction (taking a couple hundred or so out at a time). You should probably ask your bank, but I really doubt that the fees will get too bad. Before you go, also, let your bank know about your situation, and do not forget your pin!! I accidentally entered in the wrong pin and the machine ate my card (this was not at a post office atm). I had to wait a week before I could get a new card and in the meantime had to borrow money from friends. If you'll be earning money while there, it might be good to get a bank account, but it's certainly not necessary. I didn't bother getting one and I was fine, but other students were receiving monthly scholarship money so they opened them (plus you can deposit your loose change, which is good since 1 yen coins are annoying to use but do build up).
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Posted: Mon Aug 06, 2007 9:18 pm
Credit Cards are ok, and great if there is a problem. You can use them at post office ATMs. However, I would try to get a visa because they are a bit more accepted than MC. Don't forget your pin!
As was already mentioned, I would get a bank account. There are a few options. I recommend getting an account at the post office - they are everywhere and pretty easy to use. Might need a little help with it if your Japanese isn't so good.
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Posted: Thu Aug 30, 2007 7:08 am
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