Best Yen Money Exchange Rate: 7-11's 7 Bank ATM in Japan

are you going to Japan are you thinking about whether you should be a changing yen in your local country first before you go or after you arrive in Japan this video explains why you should get yen in Japan where and how to exchange yen in Japan the best way to get yen in Japan is to use your debit card to withdraw Yen from ATMs for the following reasons ADM give you one of the best exchange rates it typically uses the Visa or Mastercard Network's exchange rate typically the foreign exchange rate has no markup the exchange rate is very similar to what you see on xc.com sometimes it even beats the rate on xc.com now that depends on which ATM you use and we'll get to it in this video in a local bank like Bank of America in USA that typically charge you five percent ATMs that lets you use foreign debit cards are so convenient in Japan that they're everywhere in Tokyo for example let's talk about which ATM you could use or should use there are many ATMs that you can use to withdraw Japanese yen in Japan with your foreign debit card the two most convenient ATMs are 7-Eleven and Family Mart one of my favorite is the Southern Bank ATM machines in this video we'll focus just on seven Bank ATM they can be found in almost every single 7-Eleven convenience stores inside some of the Tokyo Metro stations or even inside some of the department stores for this example I went to a 7-Eleven store to withdraw Yang using my us debit card at the front of the 7-Eleven it has a sign that says Bank ATM for every 7-Eleven ATM that I went to so far they all have English menu the ATM inside 711 that I went to looks like this it has a sign that says ATM plus and I don't know what that means the ATM inside department store looks like this they look slightly different but they all say seven Bank ATM now let's look at how to tell if your debit card is gonna work with 7 1180m first of all it has a sign on top that tells you international cards plus a bunch of network logo if the back of your foreign debit card has one of this network logo you are good to go for example it shows Visa which is the most popular debit card Network for U.S debit card so if you have a US debit card you are covered the plus logo is mostly for Canadian debit cards for example if you have a Canadian TD Bank debit card you'll find the plus logo at the back of your debit card MasterCard similar to Visa Network serious logo some Canadian debit card use a service network union pay works with most debit card from China or Hong Kong then there's a Max simulator Visa JCB Japanese Network I would think finally there's this cover in Diners Club now let's talk about how to use a seventh Bank ATM after inserting your foreign debit card you will see the screen it tells you that if you withdraw 10 000 Yen this ATM charges you a transaction fee of 110 Yen if you withdraw 20 000 Yen this ATM charges you a transaction fee of 220 Yen I thought if I withdraw more for example 30 000 Yen it charges me 330 Yen but no I tried anything above 20 000 Yen they charge you only 220 Yen 220 Yen with their current exchange rate to us is roughly a dollar and seventy cents so it is a pretty good deal there's not a lot of money to for foreign exchange after you confirm select either credit saving or checking if you're using a debit card you should not be selecting credit you should select either checking or saving Next Step enter your PIN number next screen it asks you how much you want to withdraw for my example I withdrew 50 000 Yen and then again I click confirm in the next page this is the most important screen and you should pay a lot of attention to it in order to get the best exchange rate first line cash withdrawal 50 000 Yen makes sense second line ATM transaction fee makes sense remember I said any withdrawal higher than 20 000 Yen same two 20 Yen fee and that is what it shows here third line total 50 000 plus 220 Yen that also makes sense now this part is exchange rate and that gets a little bit confusing the first time I saw this I was like what the so I have a US charge swap debit card that charges no foreign transaction fee and uses the Visa Network exchange rate so why did it tell me 3.5 percent conversion fee to be 100 certain I use the lowest exchange rate and I don't get over in charge I call my bank to confirm so here's how it works the 3.5 percent applies only if you select a USD amount meaning the 389.56 at the bottom right corner which does not use the Visas Network foreign exchange rate and we'll select the crappy DB dot five percent conversion fee with the bad exchange rate so please don't select that button that shows you USC or whatever your home currency is if you select a 50 000 to 120 again it still charges you only 220 Yen for transaction fee but your network rate uses the Visa's Network rate which is much better and there is no 3.5 percent conversion fee so my friend always selects the button in yen in addition for those of you who also bank with a bank that reimburses you the ATM transaction fee charged by the machine for example child swap did give me back 220 Yen but in USD and that is the end of the video thanks for watching and big thanks for doing your homework before you go you did an amazing job you just save yourself 3.5 conversion fee and got a really good exchange rate for your entire Japan trip enjoy your trip in Japan I wish you all the best if you find this video useful hit the like And subscribe buttons to say thank you very much or I look at those jamas

Channel: I Need to Travel

Views: 22,343

Keywords: how to exchange japanese yen in Japan, best yen money currency exchange rate in Japan, how to get yen using ATM in Japan, moeny currency exchange 7-11 7 bank seven bank ATM in Tokyo japan, using an atm in Japan to withdraw money, How to get cash from 7-11 ATM machines in Japan, which Japan ATM gives you the best foreign exchange rate, best japanese yen exchange rate ATM japan, how to exchange money in Japan ATM, 7 seven bank international ATM access fee for foreign debit cards

Id: KWyH015_Q4s

Length: 7min 11sec (431 seconds)

Published: Sat Jan 21 2023