Comments on: ATM Currency Conversion http://www.japanitup.com/atm-currency-conversion-110/ The adventures of an American living in Japan. Sat, 11 Oct 2008 18:58:44 +0000 http://wordpress.org/?v=2.6.2 By: Emily http://www.japanitup.com/atm-currency-conversion-110/#comment-832 Emily Fri, 01 Aug 2008 15:10:47 +0000 http://www.japanitup.com/atm-currency-conversion-110/#comment-832 I see, great Steve! I'll look into Capital One and just might open one. Geeze...didn't know they got all those charges, they'd stack up! Thanks again Steve I'll look into Capital One :D I see, great Steve! I’ll look into Capital One and just might open one. Geeze…didn’t know they got all those charges, they’d stack up! Thanks again Steve I’ll look into Capital One :D

]]> By: Steve http://www.japanitup.com/atm-currency-conversion-110/#comment-828 Steve Fri, 01 Aug 2008 06:19:02 +0000 http://www.japanitup.com/atm-currency-conversion-110/#comment-828 If I had to do it all over again I'd do it the same way I am now, mainly using my US bank card at the post office ATM. Credit cards from the Bank of America charge you 2-3% per transaction. However for the actual bank card (ATM/Check/Debit Cards) when used at an ATM, you are charged 1% + $5 per transaction. If the max withdrawal from BoA is $500, then you're charged about $10 total. (1% + $5). You could open a bank account in Japan, but I'm not sure how it works if you're getting paid in US dollars. Every time I exchange money at a bank to Yen it takes 15-20 minutes plus the time it takes to get there which is totally lame. So I choose to go to the 7-11 or Post Office and use their ATM machine. I recommend opening a <a href="http://www.capitalone.com/directbanking/money-market-accounts/index.php" target="_blank" rel="nofollow">Capital One Money Market Account</a> with an ATM card before you move. This online savings account is great. I'm never charged any ATM fees or currency conversion fees from this account. Japan banks have lots of fees too. So if you're using an ATM to withdrawal from your Japanese bank and it's not M-F 8-5pm you could get charged $1 or something. And that's on top of the fees you paid to exchange the money which is 2-3% at the bank, just like using an ATM. Whatever you choose, good luck! If I had to do it all over again I’d do it the same way I am now, mainly using my US bank card at the post office ATM.

Credit cards from the Bank of America charge you 2-3% per transaction. However for the actual bank card (ATM/Check/Debit Cards) when used at an ATM, you are charged 1% + $5 per transaction. If the max withdrawal from BoA is $500, then you’re charged about $10 total. (1% + $5).

You could open a bank account in Japan, but I’m not sure how it works if you’re getting paid in US dollars. Every time I exchange money at a bank to Yen it takes 15-20 minutes plus the time it takes to get there which is totally lame. So I choose to go to the 7-11 or Post Office and use their ATM machine.

I recommend opening a Capital One Money Market Account with an ATM card before you move. This online savings account is great. I’m never charged any ATM fees or currency conversion fees from this account.

Japan banks have lots of fees too. So if you’re using an ATM to withdrawal from your Japanese bank and it’s not M-F 8-5pm you could get charged $1 or something. And that’s on top of the fees you paid to exchange the money which is 2-3% at the bank, just like using an ATM. Whatever you choose, good luck!

]]> By: Emily Tang http://www.japanitup.com/atm-currency-conversion-110/#comment-825 Emily Tang Fri, 01 Aug 2008 05:38:06 +0000 http://www.japanitup.com/atm-currency-conversion-110/#comment-825 I do have questions regarding $$ and banking and what not. See I have bank accounts in the states with Bank of America I know they don't have banks in Japan, what would be the best way to solve this situation if say my bf and I are going to need money? Should we just open bank accounts when we get to Japan or have the same one in the states and pay the fees and what not? Also since he's in the military, do you know if they got some banking thing and what not? Thanks Steve :D I do have questions regarding $$ and banking and what not. See I have bank accounts in the states with Bank of America I know they don’t have banks in Japan, what would be the best way to solve this situation if say my bf and I are going to need money? Should we just open bank accounts when we get to Japan or have the same one in the states and pay the fees and what not? Also since he’s in the military, do you know if they got some banking thing and what not? Thanks Steve :D

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