Job Discussion Forums

torkonftw · Joined: 04 Mar 2011 Posts: 9 Location: Colorado

My apologies if this has been brought up before, but I tried searching and really couldn't find anything. My question is about traveler's cheques and how viable they are? The company that hired me to work in Japan recommended bringing them for start-up money, but from what I've seen on other forums, TCs are archaic and can be a pain to cash in. Is this really true?

I'd love to hear thoughts, but I reasoned that even if this was the case, it would still be best to bring half of the start-up money in yen, and the other half in TC. I was trying to avoid relying on ATM's, just in the one off chance that I can't find one or if the fees are ridiculous. If I brought 50% in cash, I figure that I wouldn't need to cash my TC right away, and I'm sure I'd eventually find a bank or post-office that accepts them right? I figure I'm going to be spending only money on commuting and groceries, and that I could just deposit my TC straight into my Japanese bank account once my company helps set me up with one. Does that seem like a good plan? My only other concern would be whether I should get the TCs made out in yen or in American dollars?

Thank you sincerely for any responses - this whole thing has really been eating at me!

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

Archaic or not, they are safe. If you bring them, bring them in yen because you can cash more at once than if they were in dollars.

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

TCs are archaic and a pain to cash in here.

If you can find a post office, you can find an international ATM. As for fees, it is actually your own bank that sets them, so check with them to find out how much you would be charged per transaction.

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

seklarwia · Posted: Tue Aug 30, 2011 4:21 am Post subject:

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

Good info from seklarwia.

Mind you, banks are not the only place that cash them. So do some hotels and department stores. You won't have to worry about Mon - Fri hours as much with them.

seklarwia · Posted: Tue Aug 30, 2011 7:37 am Post subject:

Glenski · Joined: 15 Jan 2003 Posts: 12844 Location: Hokkaido, JAPAN

I'm sorry but I can't. Since it may depend on the brand of TCs and the city where one visits, I'm sure you can appreciate the logistical difficulty.

American Express has an online search service where you list the city and country, and there are 3 settings for a search radius (limit is 100 places per search).
http://www212.americanexpress.com/dsmlive/dsm/dom/us/en/personal/cardmember/additionalproductsandservices/giftcardsandtravelerscheques/travelerschequesandforeigncurrency.do?vgnextoid=6d17fc671492a110VgnVCM100000defaad94RCRD

There are also Travelex kiosks all over Japan and which may be open 7 days a week and holidays, hours variable.
http://www.travelex.jp/shop/english.html

If one is here and working in an eikaiwa, the working hours are pretty conducive to getting to any bank even on Mon - Fri, anyway. Most eikaiwas start work at noon or 1pm.

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

In Tokyo the very large, central, upmarket department stores like Matsuya, Matsuzakaya etc in Ginza, Mitsukoshi in Nihombashi, Takashimaya and Isetan in Shinjuku among others will exchange TCs. Your suburban Ito Yokados and Seiyus etc won't though.

seklarwia · Posted: Tue Aug 30, 2011 10:12 pm Post subject:

Thanks for that. Just trying to see if department stores are a viable option for people outside of the major cities. Not just for the OP's sake; for three intakes running I've ended up having to lend people large amounts money for set-up and essentials out of my own pocket because they haven't realised how quickly they were going to need the money and have come with TC or (difficult to exchange) foreign currency. One was eventually forced to take unpaid time off from school to go to a main branch PO so that they wouldn't have to keep borrowing money from a person that they had know for all of a weekend.

So even for me, it would be useful to know if there are stores that can handle exchanges. Especially since I've never seen places like Travelex anywhere in my prefecture (according to the list there aren't any stores within the entire Chuubu area).

Apsara · Joined: 20 Sep 2005 Posts: 2142 Location: Tokyo, Japan

CarolinaBen · Joined: 22 Nov 2010 Posts: 78

I had thought about taking travelers checks. However, I have decided to just withdraw money from an international atm at Narita. I am taking some yen with me in case of emergency.