Best way to get money out in Japan?
Hi guys what is the best way to get money out of Japan these days?
I used to use citibank to withdraw from 7/11. This had no fees and decent rates. Is this still the way to go?
Thanks
Best way to withdraw money in Japan - still Citibank?
letthiswork1 on 24/11/2018 - 11:41
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Same here. I just transfer $1000 out and in each month and make any small transactions (< $10) using this card to meet the criteria. It's worth it just to use any ATM in the world without even having to think about fees.
And an OzBargainer would have signed up to CUA as well to collect their $100 and have another PayID-supporting bank account with no monthly fee. I used to lose a few cents in interest from those transfer days!
I was just in japan.
Used my ing and the exchange rate was amazing almost on par with what xe was telling me.
No fees either I used 7-11 atms as it charges the withdrawal fee seperate so ing knows what to refund (some atms roll it into the withdrawal so ing can’t tell the fee)Is it just the everyday card?
Yes
Hey jimbobaus, does ING refund the International ATM withdrawal fee as well?
Yeah. Ing refunds the fee charges by the international ATM provided that it’s a seperate charge and not rolled into the withdrawal.
They also refund their own fee for using a overseas atm.Here is a recent translation (atm withdrawal)
https://imgur.com/a/ZhOsmRnOnly thing is ing has deposit and withdrawal requirements to get the free transactions.
I used ING card a few times for an ATM in Singapore (I guess it was HSBC), which rolled the fees into the total withdrawal amount, thus showed only one transaction per withdrawal on statememt. ING was still able to refund the ATM fees on the same day which was pretty impressive. I think it should work in the same way in Japan too.
Just be weary of 7/11 ATMS as they now charge a fee to withdraw your cash even on 'fee free' cards - even if the balance is already in JPY.
I didn't get fees charged on my Citibank Mastercard in June, and I'm pretty sure my girlfriend didn't either with her Macquarie Mastercard. I think that only applies to Visa.
It was with my Qantas Cash Mastercard, never used to get charged a fee on the 7/11 ATMS, and then on my last trip it kept charging to get my money out. I'm not sure why but thats just been my experience.
Good to know. It might vary by issuing bank as well then. That makes it a bit tricky for people with cards other than ING. I only use my Citibank Plus as a backup now.
Yeah but if you are with the right bank the fee is refunded.
I believe ING will still refund it. It simply refunds ANY fees that's charged.
If the fee is charged as a fee.
Some bank atms roll the fee into the transaction as an increased withdrawal amount. In this case they can’t refund the fee cause they don’t know how much it is.
I came back two weeks ago. Withdrew 50,000 yen from Seven Eleven ATM at Haneda airport using my Citibank debit MasterCard which cost approximately AU$635. Two days later went to Japan Post ATM and withdrew the same amount and it converted to $665. This did include a minor fee of around $2.
That's a pretty big difference. Did you press the Credit button on both occasions when withdrawing?
Yes big difference. From memory I wasn’t given the option of Credit or Savings.
Could it have just been the currency fluctuation for those two days?
Okay so ING or Citibank at 7/11 ATM's should be the way to go
Not Citibank at 7/11. You will get fee free withdrawals for the Citibank at the PRESTIA atms. They aren't that common.
Over in Japan right now and using Citibank at 7/11 without any fees charged
Careful, sometimes the fee is built into the exchange. So check the actual cost of your withdrawal with the actual bank exchange rate.
Thanks everyone for the inputs. I am going to Japan next May , will need one of these cards so i don't have to change all my money in yen before i leave Aus
ING's great. Super easy and very good exchange rates
yes I use citibank all the time, in Japan it is called Prestia, part of SMBC.
When you say ING, is it the ING everyday account or the credit card you take overseas?
ING