Owais Crawford
Airports are a convenient place to exchange currency. Japan's four major airports, Narita, Haneda, Chubu Centrair International, and Kansai International, have ATMs and currency exchange counters. Haneda Airport, for example, has money exchange facilities in various places throughout the passenger terminal. The rates at the airport are the same as at the banks, and it is recommended to have Japanese yen on hand when leaving the airport.
| Characteristics | Values |
|---|---|
| Possibility of conversion | Yes, you can convert yen to USD at an airport. |
| Recommended | It is recommended to exchange money at the airport when you arrive in Japan as the rates are the same as at the banks. |
| Exchange points | All major Japanese airports have exchange points in their respective arrival halls. |
| Currencies | Airports in Japan handle a variety of currencies, including USD, EUR, GBP, CNY, AUD, etc. |
| Exchange rate | Exchange rates fluctuate daily in accordance with financial market trends. |
| Other options | ATMs, banks, hotels, and World Currency Shops. |
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What You'll Learn
- Airports in Japan have exchange points in their respective arrival halls
- Exchange rates at the airport are the same as at the banks
- ATM service fees may be charged when withdrawing money
- It is possible to exchange money at major hotels, but the rates are usually not as good
- It is difficult to exchange cash once you leave the airport
Airports in Japan have exchange points in their respective arrival halls
Haneda Airport, for example, has money exchange facilities throughout its Passenger Terminal, including a "POCKET CHANGE" facility that converts foreign coins into points that can be used for other currencies. Narita Airport's GPA currency exchange stores handle 34 currencies, the most of any currency exchange store in Japan.
It is recommended to exchange your money at the airport when you arrive in Japan. The rates are the same as at the banks, and you will need yen when you leave the airport. It is possible to exchange money at major hotels, but the rates are usually not as good. It is also difficult to exchange cash once you leave the airport, as the process can be time-consuming and is subject to banking hours.
If you are using traveller's checks, it is best to exchange them all at the airport, as they will be difficult to exchange outside of the airport. Credit cards get the best exchange rates and are widely accepted in Japan. However, Japan is largely a cash-based society, so it is recommended to carry some cash during your stay.
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Exchange rates at the airport are the same as at the banks
Exchanging currency at the airport is a convenient option for many travellers. Airports usually have dedicated money exchange facilities, where you can convert your money into the local currency or other foreign currencies. For instance, Haneda Airport in Tokyo provides money exchange services, allowing travellers to convert currencies such as the Japanese yen, US dollar, euro, and Chinese yuan.
While airport currency exchange services offer convenience, they may not always provide the most favourable exchange rates. In fact, airport exchanges often charge higher fees and less competitive rates compared to other options. For example, a NerdWallet study found that airport exchanges could charge up to 17% more than the current International Monetary Fund (IMF) exchange rate, resulting in travellers paying significantly more for their currency conversion.
On the other hand, exchanging currency at banks can offer a more cost-effective solution. Banks typically provide competitive exchange rates, and in some cases, their rates may even be better than those offered by airports. For instance, Bank of America's exchange rates were found to be roughly 6% more favourable than the IMF rates, which is significantly lower than the premiums charged by airport exchanges.
Additionally, banks often allow you to order foreign currency in advance, so you can pick it up at a local branch before your trip or even have it shipped to your home address. This helps you avoid the last-minute conversions at airport terminals, which tend to come with higher exchange rates. By planning ahead and utilising the services offered by banks, you can benefit from more favourable exchange rates and potentially save money on your currency conversion needs.
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ATM service fees may be charged when withdrawing money
When travelling, it's important to be aware of the various fees that may be incurred when withdrawing money from an ATM. While using an ATM is often the quickest and cheapest way to obtain local currency, there are some costs to be mindful of.
Firstly, your bank may charge a fee for using an international ATM network, which can be a flat fee or a percentage of the withdrawn amount, or sometimes both. Additionally, the ATM operator may levy their own surcharge for using their machine, which can vary depending on the operator. These fees are typically displayed on the ATM screen, and you will be asked for your confirmation before proceeding with the transaction. To avoid or minimise these fees, consider using ATMs at major banks or post offices, as smaller institutions may have higher surcharges.
Secondly, dynamic currency conversion (DCC) may be offered as an option when withdrawing money from a foreign ATM. DCC allows you to see the transaction amount in your home currency. While this may seem convenient, opting for DCC can result in higher exchange rate fees, as the ATM operator or merchant performs the currency conversion, which may include a markup. It is generally more cost-effective to choose to pay in the local currency rather than your home currency.
To mitigate ATM fees, it is advisable to research your options before travelling. Some banks and financial institutions offer debit cards with no international ATM fees, making them ideal for travellers. Additionally, certain banks provide a set number of free withdrawals or unlimited ATM fee reimbursements, so it is worth checking with your bank to understand their specific policies. Non-bank alternatives, such as the Wise account, can also help reduce costs when withdrawing money abroad.
Furthermore, it is beneficial to plan your cash withdrawals strategically. Using your debit card for purchases instead of withdrawing cash can eliminate the need for ATM transactions. When withdrawing cash, consider making fewer, larger withdrawals to minimise the frequency of fees. Additionally, exchanging some money at the airport upon arrival or using a travel card can reduce your reliance on ATMs throughout your trip.
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It is possible to exchange money at major hotels, but the rates are usually not as good
When travelling, it's always a good idea to have some local currency on hand. In the case of Japan, that's the Japanese yen. While credit cards are accepted at most major hotels, department stores, restaurants, and convenience stores, and you can even purchase some things at the airport with an international credit card, it's still recommended that you carry some cash.
Exchanging money at the airport is a convenient option. All major Japanese airports have exchange points in their respective arrival halls, and some, like Haneda Airport, have 24-hour money exchange facilities. The rates at the airport are the same as at the banks, and you'll want to have yen once you leave the airport as it can be difficult to find an exchange office outside of one.
Another option is to use a travel money card, such as the WISE card, which can be used anywhere Mastercard is accepted, and you can withdraw money from ATMs with minimal fees. ATMs in Japan, such as those at Japan Post offices and 7-Eleven convenience stores, often charge for withdrawals, and this charge can vary depending on the time and day of the week. Not all ATMs are 24 hours and they may run out of cash, so it's always good to be prepared with some local currency.
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It is difficult to exchange cash once you leave the airport
It is generally recommended that you exchange your money at the airport when you arrive in Japan, as it can be difficult to exchange cash once you leave. While it is possible to exchange money at major banks and post offices, the process can be time-consuming and is subject to banking hours. Similarly, while some hotels offer currency exchange, the rates are usually not as good as those found at the airport.
ATMs are available at Japan's four major airports: Narita Airport, Haneda Airport, Chubu Centrair International Airport, and Kansai International Airport. These ATMs often charge a fee for withdrawals, and this charge can vary depending on the time and day of the week. It is important to note that not all ATMs are 24 hours and may run out of cash at times, so it is recommended to have some cash on hand.
Haneda Airport, for example, has money exchange facilities throughout the passenger terminal, offering exchange services for various currencies, including Japanese yen, US dollars, euros, and Chinese yuan. Narita Airport's GPA currency exchange stores handle an even wider range of currencies, with 34 in total.
If you are carrying traveller's checks, it is best to exchange them at the airport as well, as they will be difficult to exchange once you leave. Credit cards tend to get the best exchange rates and are widely accepted at hotels, department stores, restaurants, and convenience stores. However, for smaller purchases and when travelling to more remote areas, it is always good to have some local currency on hand.
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Frequently asked questions
Yes, you can convert Yen to USD at the airport. Japan's four major airports—Narita Airport, Haneda Airport, Chubu Centrair International Airport, and Kansai International Airport—have ATMs and currency exchange counters.
Exchanging currency at the airport is convenient and offers the same rates as banks. It is also difficult to find money exchange facilities outside the airport in Japan.
Airport exchange counters may not offer the best rates compared to other options. For example, you will get a better exchange rate for yen in Southeast Asian countries than in Japan. Additionally, exchange counters at the airport may be closed during the middle of the night for maintenance purposes.
