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jcmarsha
Joined: 09 Nov 2008
Location: Seoul
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 Posted: Tue Nov 25, 2008 6:37 pm Post subject: Traveling to Japan...money advice needed |
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So I assume that my Hana bank card will not work in Japan and I don't have enough $$ in my US checking account to last the week.
Should I convert my Won to USD in Korea before I leave and then convert the USD to Yen when I get to Japan?
Or, should I just bring Won with me and convert the Won to Yen?
either way, Im getting screwed with the exchange rate, but I'd like to do whatever is easiest and whatever makes most sense econimically.
Thanks |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Tue Nov 25, 2008 7:10 pm Post subject: Re: Traveling to Japan...money advice needed |
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| jcmarsha wrote: |
So I assume that my Hana bank card will not work in Japan and I don't have enough $$ in my US checking account to last the week.
Should I convert my Won to USD in Korea before I leave and then convert the USD to Yen when I get to Japan?
Or, should I just bring Won with me and convert the Won to Yen?
either way, Im getting screwed with the exchange rate, but I'd like to do whatever is easiest and whatever makes most sense econimically.
Thanks |
DO NOT TAKE WON OUT OF KOREA.
Buy Yen or US$ at the airport in Incheon. The exchanges there will give you the same rates you get in town at the bank.
The exchange rate for Won to Yen IN Japan is about 25% LESS than the bank rate. DO NOT TAKE WON OUT OF KOREA.
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jcmarsha
Joined: 09 Nov 2008
Location: Seoul
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| Posted: Tue Nov 25, 2008 9:43 pm Post subject: |
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| so do you think I should just go Won to Yen before I leave Korea? |
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ernie
Joined: 05 Aug 2006
Location: asdfghjk
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| Posted: Tue Nov 25, 2008 9:57 pm Post subject: |
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a friend of mine went to japan for a weekend with a million won or so but was totally SCREWED because no one there would change it (this was a few years ago)! i think he had to call home and have his parents put a bunch of money into his canadian account (this isn't easy with the time difference, especially in a pinch!) because korean banks suck and won't let sneaky foreigners use their bank cards abroad.
DON'T take won to japan. don't take USD unless you want to pay double rates or have a bunch of greenbacks lying around. buy yen at a korean bank before you leave. |
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huffdaddy
Joined: 25 Nov 2005
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| Posted: Thu Nov 27, 2008 7:17 am Post subject: |
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| jcmarsha wrote: |
| so do you think I should just go Won to Yen before I leave Korea? |
The Won to Yen rate in Korea is tight. Changing here is fine.
Cash is spot +/-2%
wire transfer rate is spot +/-1%
Best would be to change to yen and put it in a foreign currency account for one month. You should get the wire transfer rate that way. |
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Donghae
Joined: 24 Dec 2003
Location: Fukuoka, Japan
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| Posted: Thu Nov 27, 2008 6:19 pm Post subject: |
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| ernie wrote: |
a friend of mine went to japan for a weekend with a million won or so but was totally SCREWED because no one there would change it (this was a few years ago)! i think he had to call home and have his parents put a bunch of money into his canadian account (this isn't easy with the time difference, especially in a pinch!) because korean banks suck and won't let sneaky foreigners use their bank cards abroad.
DON'T take won to japan. don't take USD unless you want to pay double rates or have a bunch of greenbacks lying around. buy yen at a korean bank before you leave. |
I think this is good advice. Actually, Japanese banks suck even more than Korean ones because even if your Korean bank would let you use your card overseas (Japanese banks don't let foreigners do so either) it wouldn't be much use in Japan, as Japanese bank ATMs rarely accept non-Japanese cards. Only the post office ATMs are a safe bet for foreign cards in Japan, and they often close early. Convenience store ATMs can be a bit hit n miss for foreign cards. Japanese banks usually won't exchange Won either and you'd have a really hard time finding somewhere that will. Ridiculous, given the proximity and the number of Korean tourists that come to Japan, but that's just the way it is.
So, yes, your best best is going to be to just change won to all the yen you'll need before you leave. Don't do it at the airport though. You'll get a better rate downtown. Your own bank might even give you a better "customer" rate. |
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cangel
Joined: 19 Jun 2003
Location: Jeonju, S. Korea
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| Posted: Fri Nov 28, 2008 3:49 am Post subject: |
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| Yes and no to the last post. Many Japanese banks offer Visa debit cards to the gaijin customers which was NOT the case just a couple of years ago. You can exchange Korean won at any international debarkation point although you may not get the best rate. There are even Korean banks in Japan; I know Shinkan (sp) has a branch in Fukuoka. Lastly, all Japan post office ATMs will accept the usual Cirus, Plus cards. |
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Donghae
Joined: 24 Dec 2003
Location: Fukuoka, Japan
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| Posted: Mon Dec 01, 2008 7:59 pm Post subject: |
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| cangel wrote: |
| Yes and no to the last post. Many Japanese banks offer Visa debit cards to the gaijin customers which was NOT the case just a couple of years ago. You can exchange Korean won at any international debarkation point although you may not get the best rate. There are even Korean banks in Japan; I know Shinkan (sp) has a branch in Fukuoka. Lastly, all Japan post office ATMs will accept the usual Cirus, Plus cards. |
Many Japanese banks? I wouldn't dispute that's possible somewhere, but many?? Which ones? I know of several foreigners here in Japan who've RECENTLY asked for a debit card with visa/cirrus etc symbol on it and were told they could have no more than a simple cash card for ATM use in Japan. Not only were they not allowed to use their debit card overseas, they weren't even allowed to have a debit card in the first place, even for use in Japan. So at which J banks should they be asking then?
Shinhan is the Korean bank with a branch in Fukuoka. The more observant will notice they have something of a presence in Korea too  Yes, teacher travellers from Korea visiting Japan who manage to find a Shinhan branch would be able to change won there. But they'll get a crap rate and will have already missed their plane/boat back due to all the time they spent looking for that Shinhan Branch.
Change your won to yen in Korea before you go. It's that simple. |
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cangel
Joined: 19 Jun 2003
Location: Jeonju, S. Korea
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| Posted: Mon Dec 01, 2008 9:38 pm Post subject: |
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| I have visa debit card from Fukuoka Bank. I also had a credit card issued by Japan Post and a JCB card. Granted JCB isn't as internationally recognized as Cirrus/Plus but it is widely accepted in SE Asia. Additionally, Saga Bank issues Visa debit cards but there are some stipulations my friend has recently informed me about, and both Suruga Bank and eBank offer visa debit cards as well as home loans to foreigners. I will admit when I said "many" in the previous post, I may have overstated. Apologies. |
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Daegu3523
Joined: 23 Oct 2008
Location: Daegu, Korea
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| Posted: Mon Dec 01, 2008 10:53 pm Post subject: |
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How much money (in yen) do you think I should bring for one week? (Not including money for hotel and airfare).
I know it depends but do you think 45,000 yen is enough? (approx 700,000won) |
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cangel
Joined: 19 Jun 2003
Location: Jeonju, S. Korea
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| Posted: Mon Dec 01, 2008 11:04 pm Post subject: |
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| Where are you going? When you get there do you plan on using public transportation not including taxis? Do you want to eat on the cheap for breakfast and lunch and then splurge a bit on dinner? How about doing a wee bit of drinking at night, like 2-3 cocktails and 3-5 beers? If you answered YES to these questions, I would recommend about Y6500 a day (times 7 days?) so yeah, your Y45,000 should be about sufficient. This does not include really getting FUBAR'd or shopping. |
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Donghae
Joined: 24 Dec 2003
Location: Fukuoka, Japan
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| Posted: Mon Dec 01, 2008 11:17 pm Post subject: |
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| Daegu3523 wrote: |
How much money (in yen) do you think I should bring for one week? (Not including money for hotel and airfare).
I know it depends but do you think 45,000 yen is enough? (approx 700,000won) |
If your hotel and flight are already paid for, you CAN get by for a week on that amount with a little bit of financial discipline.
So much depends on what you're planning to do. If you're intending to travel around much and have to pay for transport out of your Y45,000 budget, then you'd be struggling. If you're staying in the same place with minimal transport expenses then you may be ok. It's possible to eat reasonably well for less than Y4,000 a day, perhaps less if you shop around, live off convenience store food or are really not fussed about what and how much you eat.
So it's certainly do-able. But I'll be honest and say that of the dozen or so people who've visited me in Japan (and Fukuoka is cheaper than the Osaka or Tokyo areas) over the last 5 years or so, no-one spent that little in a week. |
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Donghae
Joined: 24 Dec 2003
Location: Fukuoka, Japan
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| Posted: Mon Dec 01, 2008 11:31 pm Post subject: |
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| cangel wrote: |
| I have visa debit card from Fukuoka Bank. I also had a credit card issued by Japan Post and a JCB card. Granted JCB isn't as internationally recognized as Cirrus/Plus but it is widely accepted in SE Asia. Additionally, Saga Bank issues Visa debit cards but there are some stipulations my friend has recently informed me about, and both Suruga Bank and eBank offer visa debit cards as well as home loans to foreigners. I will admit when I said "many" in the previous post, I may have overstated. Apologies. |
No problems, apology accepted.
You got lucky with Fukugin, because they turn a lot of foreigners away who ask, including one of the people I referred to above. I actually asked someone who works for them at their Tenjin branch about this, and they said their branch wouldn't give debit or credit cards to foreigners unless they had permanent residence. Saga and Suruga aren't really much more in abundance than Shinhan I'm afraid, but you're right - foreigners in Japan don't do so bad for money matters if they avoid the banks and use the post office or other financial institutions. But that's what I originally said - Korean banks do suck, but Japanese banks usually suck just as much, often more. So avoid them if possible. |
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Daegu3523
Joined: 23 Oct 2008
Location: Daegu, Korea
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| Posted: Tue Dec 02, 2008 9:50 pm Post subject: |
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| Quote: |
| Where are you going? When you get there do you plan on using public transportation not including taxis? Do you want to eat on the cheap for breakfast and lunch and then splurge a bit on dinner? How about doing a wee bit of drinking at night, like 2-3 cocktails and 3-5 beers? If you answered YES to these questions, I would recommend about Y6500 a day (times 7 days?) so yeah, your Y45,000 should be about sufficient. This does not include really getting FUBAR'd or shopping. |
I'm going to see my friend who lives about 30 minutes outside of Tokyo. I'd like to get a tour of a Honda factory (preferably the Suzuka plant where they build the s2000). I'd also like to visit Osaka for a day or two. I will probably bring some snack food for breakfasts, eat a simple lunch and then maybe have a good dinner. I'll probably drink one or two nights. I'm a lightweight and can get drunk in Korea.
I'm into photography and I'd love to just wonder around Tokyo. Also I heard the Sony building has lots of demos and stuff to check out and I think it's free. I'd like to see the latest and greatest in electronics but I don't really need to buy anything.
What's FUBAR'd? sorry
Thanks for your help!
| Quote: |
If your hotel and flight are already paid for, you CAN get by for a week on that amount with a little bit of financial discipline. |
Ok thanks. I'm pretty frugal so I'll probably be okay. That being said I think you guys have convinced me to bring a bit more. I'm glad I asked. |
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