Travel Money Card Vs ATM Cash Withdrawal - Japan

Ljaybo on 22/02/2016 - 14:38

i'm hoping someone else has done all the maths on this and can help me out :D

heading to Japan tomorrow, i have a 28 degrees card but given it's such a cash based society i will need to draw out like $1k aud to cover a lot of expenses while i'm away (going skiing!)

is it worth trying to bugger around with transferring cash to a travel money card, and then withdrawing it from an ATM? or should i just cop the fee from commbank and rip the cash out directly from my savings account using an ATM at the airport when i get there?

historically (bali & USA) i've just drawn it out from ATMs but generally make sure i've done it in large amounts to avoid a crapload of $5 fees for doing so.

(basically - is the 3% fee commbank charge me for international fees any better or worse than what i'll usually get reamed by the cost to put it on a travel money card anyway?)

Travel

Comments

  • lupiter on 22/02/2016 - 14:47
    +2

    Last time I worked it out it was cheaper to withdraw from my normal (combank) card than a travel money card unless I withdrew more than $5k, because combank had a better exchange rate. Then I got a citibank card anyway, and that was so much cheaper. But if you're leaving tomorrow, just get it out when you get there.

    However, big stores and hotels will let you pay with a credit card… it's like the 90s, not entirely cash but mostly cash.

    • jaybo on 22/02/2016 - 15:58

      thanks for that - yeah i got a travel money card when i went to the states ~5+ years ago and hated the whole pre-loading of money onto the card, the fees involved in loading the card and topping it up again - after the 28 degrees trick ended i just went back to drawing lump sums out on my commbank card, figured there wasnt much difference in the end but was just curious if anyone had done the actual math :)

      • OneMoreTune on 22/02/2016 - 16:56

        I used my credit card almost everywhere in Tokyo and Osaka around August last year, not sure what this talk of 'mostly cash' is about.
        I took plenty of cash with me plus I signed up for a platinum credit card through bankwest while there was a 1st year free promotion and used it heaps there, with no international transaction fees.

  • retiredfeline on 22/02/2016 - 14:52
    +5

    You should have got a Citibank card. 28 Degrees charges withdrawal fees now.

    • BargainShopaholic on 22/02/2016 - 14:56

      +1 for Citibank. Too late to get one now since you're travelling tomorrow. It's not a credit card so you'll be using your own money. Fee free ATM withdrawals.

      Just came back from Japan, not really a cash based society. I've paid for most things with my 28degrees card, even at small eateries.

      If you don't want to lose out on money on the travel cards, then just bring some cash, but you wont need a lot. Go to the Travelex for good exchange rates.

      • jaybo on 22/02/2016 - 15:55

        yeah the old cash advance trick on the 28deg card was the reason i got it in the first place! super sweet deal that one…

    • KB2 on 22/02/2016 - 16:09
      +1

      Citibank card is the way to go!

      • hypie on 22/02/2016 - 17:02

        agreed citibank debit card is fantastic. great rates for me in Malaysia.

    • jaybo on 22/02/2016 - 15:56

      thanks for that!

  • boomramada on 22/02/2016 - 16:30
    +1

    28D card and Cash all you need, worst case you can take some money out from 7eleven via your bank card.
    More cash you take, more risk of losing, but its Japan, not Europe. When you withdraw money, take at least $500 per transaction.
    Have fun :)

  • Randxyz123 on 22/02/2016 - 16:52

    I've just been to Japan so hopefully the following will help you. Also feel free to ask me if you have any other questions and I'll try and answer them.

    Firstly if you don't use a travel money card commbank now charges like $15 + some other bullshit withdrawal fees. (not just for Japan but for everywhere)

    Try and get some cash out here. You might have time to get to a Australia Post or Travelex to change some money.

    Japan is a cash based society especially in the ski resorts. In Tokyo except at some smaller places they take credit cards Which ski resorts are you going to? The smaller ones are cash only for everything and only have like one ATM for foreign cards.

    The larger places take credit cards for things like lift tickets and some of the on mountain dining is cash only.

    If you don't have time to get cash out just go to a 7-11 when you get there. If you are going to Tokyo first then you won't need much, maybe take out ~$150.

    Before you hit the ski fields you'll want to get around AU$2000 in cash out maybe more. Again it depends where you go and for how long if you'll need more.

    • jaybo on 22/02/2016 - 17:02

      commbank ATM cash withdrawals are $5 + 3% of the value (https://www.commbank.com.au/personal/accounts/transaction-ac…) but yeah that'll add up quick if you're withdrawing heaps of cash :D (that's a $35 fee to get $1k out)

      i've got about $200aud worth of yen on me already so should be right for airport money, first stop is the japan rail pass counter and there's ATMs and a 7-11 nearby apparently (haneda)

      heading to hakuba for 6 nights, was planning to rip out $1k worth of yen (80k yen?), the place we're staying at takes credit card for payment apparently (my mate stayed there in december) but wanted to have enough money to cover lift tickets and food & all the other stuff for the skiing part, then we're heading to osaka for a few nights (airbnb so already paid via amex) but there'll be plenty of ATMs there to re-stock, last stop is tokyo and i'm staying at a friend's hotel so will either be card or i'll pay him in $aud and he'll pay the yen (he has a hard time transferring yen back to aud to pay his mortgage back in AU!)

      cheers for the advice :)

  • linoc66 on 22/02/2016 - 17:48

    I'm researching this also, but a bit more time to prep as I don't fly out until April.

    Currently have a Suncorp Platinum (issued by Citibank, includes travel insurance), I'm not great with legal fine print but wonder if this would do? - http://www.suncorpbank.com.au/credit-cards/rewards/platinum-…

    greenpossum said "28 Degrees charges withdrawal fees now"
    New application, ID/income check etc etc etc (same with citi or any of them)

    OneMoreTune said "platinum credit card through bankwest"
    I already have an account with BW locally so perhaps easier to obtain? - http://www.bankwest.com.au/personal/credit-cards/compare-cre…

    So out of what's been suggested in posts above… which would be the better option?

    Is this the citi one your referring to? - https://www.citibank.com.au/aus/credit_cards/cards_simplicit…

  • woodwa on 23/02/2016 - 08:13

    We just used our standard Visa card overfilled for cash withdrawals at 7-11's. Larger purchases(bigger restaurants, Hotels, Hostels, Tours and Department stores) we used visa directly

    btw 7-11s are on every other city block. Apparently Post Offices do cash withdrawals but 7-11 was fine.. I was checking the rate we were getting vs the rate on the westpac site.. It seemed like we getting more yen for the dollar than the indicative rate..

  • oldrocker on 23/02/2016 - 08:41

    Money cards are a rip-off as they charge fees at every turn. Look at Jetstar Card…. gone the way of the dodo bird! Plenty of atms at 7-Elevens or even their domestic convenience stores. Citi Plus card's the way to go. I even withdrew from a Post Office ATM in Osaka, no fees. Enjoy your travels.

  • MaxTravels on 23/02/2016 - 09:12

    I was in Japan last September. I have both a 28 degrees and Citi bank. For some reason I couldn't withdraw from my 28 degrees credit card, could only use my Citi bank for cash withdrawals. I only tried on one occasion in an atm in the train station, so perhaps it was the atm. Also wouldn't allow me to withdraw from my anz credit card (needed money and tried all my cards).

    I thought I had read somewhere about some Japanese atm's not accepting withdrawal as from credit cards, but I didn't pay much attention until I was there.

    • retiredfeline on 23/02/2016 - 09:49

      I thought I had read somewhere about some Japanese atm's not accepting withdrawal as from credit cards, but I didn't pay much attention until I was there.

      Many Japanese ATMs only accept Japanese cards, despite the Mastercard/Visa logos on them. 7/11s had machines which would reliably accept international cards, at least that was the case when I was there.

  • beema56 on 23/02/2016 - 09:46

    I spend a fair bit of time in the Philippines and found the costs attached to using my ATM card was exceedingly high. I transfer money from my credit card to Western Union and collect from the nearest Western Union. Just pay the credit card off immediately or have a positive balance.

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