Job Discussion Forums

a_godden · Joined: 22 Sep 2005 Posts: 20

Hi, I'm hoping someone here can help me. What is the best way to bring money into Japan. I'm planning to bring about $2000US, and really don't want to bring that all in cash. (Plus I'm travelling for a month in Vietnam and I don't think its safe). I'm going to be converting the money from won (South Korea), and I have to close my Korean bank account before I leave in Feb. Is there a good way to safely transfer money without a bank account in Japan?

Thanks for your advice.
Amy

Gordon · Joined: 28 Jan 2003 Posts: 5309 Location: Japan

a_godden · Joined: 22 Sep 2005 Posts: 20

I'd considered travellers checks, and I know that they are secure long term. But the cost of them combo'ed with the challenge of cashing them... are there any other options?

Amy

lalalateda · Joined: 05 Nov 2005 Posts: 72 Location: JAPAN

My bank (bank of america) in the US didn't charge me at all for my AmEx travellers checks. I was able change them at the bank for just as good a rate as cash. It's true that if you leave the major cities you may have a problem cashing them in but it seems to be relatively safe to walk around with more cash than I would back home.

I've actually had way more trouble using my american debit card than i thought I would so I'm glad I brought the travellers checks.

johanne · Joined: 18 Apr 2003 Posts: 189

If you have a major credit card, you could put all the money on the card (giving you a balance in the black) and when you come to Japan take the money out from a citibank machine (others might also accept credit cards) using your card. If you're flying in Narita has 3 or 4 ATMs at the arrivals level that accept credit cards. If you've loaded up the card ahead of time there's no interest to pay for taking out the money, although there might be a small fee and the exchange rates are usually not the best on credit. It is a pretty safe way to move money around without a bank though. Also, like travellers cheques it might be something that can only be done in bigger centres. I've never actually done this myself, but a few friends have so I thought I'd just pass it along as an option.

canuck · Joined: 11 May 2003 Posts: 1921 Location: Japan

a_godden · Joined: 22 Sep 2005 Posts: 20

Since moving to Korea I'm used to carrying a fair bit of cash (up to 200,000 WON/200USD). If I was going directly to my new job (in Okayama) I could deal with the cash but I'm spending a month travelling around in Vietnam before I move into my new apartment. The new school has agreed to hold my bags so I've thought of just hiding the cash inside but I'd rather not. The whole scenario just sounds like asking for trouble.

As someone suggested I'm going to look into an account at CITI bank or HSBC - does anyone have any info on either of these two banks?
Amy

Gordon · Joined: 28 Jan 2003 Posts: 5309 Location: Japan

Your school will most likely open up or help you open up an account. They will pay you by direct deposit. Just explain your situation and they might open one up for you sooner. That money will be spent rather quickly in Japan I'm afraid.

JimDunlop2 · Joined: 31 Jan 2003 Posts: 2286 Location: Japan

This question gets asked about once or twice a year. Please look at some of the previous threads on this matter:

http://www.eslcafe.com/forums/job/viewtopic.php?t=20771

http://www.eslcafe.com/forums/job/viewtopic.php?t=10732

http://www.eslcafe.com/forums/job/viewtopic.php?p=295255#295255

http://www.eslcafe.com/forums/job/viewtopic.php?t=21900

Sweetsee · Joined: 11 Jun 2004 Posts: 2302 Location: ) is everything

CitiBank will charge you a maintenance fee plus a penalty for not maintaining a $3000.00 balance.

a_godden · Joined: 22 Sep 2005 Posts: 20

Thanks for all the info.

HSBC and CITI bank today said as a foreigner in Korea I cannot open a bank account and access it in Japan. I guess my last options are the VISA advance thing (except I have to pay about 20US to wire transfer the cash to my VISA), travellers checks, cash, or ask the new school if they can help me out.

Amy