Holding Japanese Yen on a Card

Tech5 on 13/07/2024 - 16:48

Hey all,

Given the amazing exchange rates, ive swapped for some Yen in cash but want to hold some on a card.

I plan on using it next year in November.

Would anyone have recommendations on which travel cards have lowest fees/best rates?

Thanks!

Financial

Comments

  • askbargain on 13/07/2024 - 16:49
    +5

    there's only 2 worth your time, wise and revolut. /thread

  • dtc on 13/07/2024 - 18:40
    +2

    The AUD is predicted to go up because interest rates will stay high as other countries are cutting theirs. But if you want to gamble on FX and hold money on a card for the long term, then Wise or Revolut are basically your only options (outside of a more expensive multi currency account through a bank like HSBC). The main issue with both is limited ATM withdrawals but you might be able to get away with that in Japan (cash is no longer king).

    However if you have an iPhone you can get an electronic Suica card and load that up via an FX free debit card like Ubank ( there are others). It’s not quite as widely accepted as a normal card but it’s pretty widely used. Might be able to do this on an android as well?

  • Ocker on 13/07/2024 - 18:54
    -1

    Did you swap some "JPY for cash", viz. JPY for AUD, or do you swap AUD for the JPY? I think you mean the latter".
    Seriously, nobody, not even the best of economists can predict FX rates going forward. Trust me, as a profession trader with 30 years experience I can state this as a fact!!
    Bottom line is that if you are happy with the current exchange rate then why speculate on future movements-just to save a potential couple of bucks?
    There is the holding cost to consider. You can get 5.5% on AUD deposits at the moment, meaning that in a year the AUD would need to strengthen against the JPY just to break even.

  • Brucet on 13/07/2024 - 22:10

    I had Revolut…

  • donga100 on 13/07/2024 - 23:30

    I have Revolut but find it more convenient to use Mastercard Worldwide Wallet through my St George Bank account. Rates are the same and it doesn't have any transaction fees. Bonus that you can get lounge access for flight delays if you register your flights. In saying that, there are better things to gamble your money on than FX markets.

    • askbargain on 13/07/2024 - 23:50
      +2

      1 aud to 0.6761 usd (before weekend fees) on rev

      1 aud to 0.6524 on westpac :/

      • donga100 on 14/07/2024 - 21:38

        They must be slipping up! 😂

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