Money in Japan

Tyler · (#1 (**permalink**))

Hi - I'm going to be living in Japan for a year and I was wondering what the best way to handle money there would be.

Should I use traveler's cheques, or a credit card or should I get a bank account there?

What has worked for those of you that have spent longer periods of time abroad?

YouHadMeAtASL · (#2 (**permalink**))

Bank account. Bring traveler's checks for when you first get over there though.

Maku · (#3 (**permalink**))

For me, I'm transferring my money to the same bank over there that I use here (HSBC).
If you can, get an account with them and it would make things easier, so then you can just transfer your money back when/if you go back.

MMM · (#4 (**permalink**))

It is very difficult to get Yen advances off of foreign credit cards. You will need a bank account in Japan. Changing traveler's checks all the time is a big hassle.

Tyler · (#5 (**permalink**))

Ok, sounds like a bank account is the best way to go.

Maku suggested HSBC and after doing a little bit of research they look pretty good since they have international banking services.
Are there any other banks that I should consider or is HSBC my best bet?

MMM · (#6 (**permalink**))

I am not sure where you are coming from, but if you have access to HSBC then that is probably good. I know that Citibank also has ATMs in major Japanese cities, and that's what I use.

Tyler · (#7 (**permalink**))

I'm from Canada so we have both HSBC and Citibank.
I'm doing some research into both right now to see which is the best option for me.
I'm not incredibly happy about switching banks since I don't pay any fees at the one I'm at now, but I might have to. hmm

thanks for the help so far!

MMM · (#8 (**permalink**))

You wouldn't have to "switch", but if you were to open an account at Citibank or HBSC you wouldn't have to open a bank account IN Japan.

I also have a US Bank account, and I can use my US Bank account ATM card at CITIBANK ATMs. I think there is a small service charge, but if you could find out if your present bank card works at Citibank machines, then you wouldn't have to do anything (assuming you were close enough to a Citibank machine and didn't mind the charges).

ButterflyDemise · (#9 (**permalink**))

I know it was silly to do, but I just carried my money all with me >.> So I wouldn't spend all of it in one day, though, I left some buried in my suitcase.

jasonchua · (#10 (**permalink**))

There's a very good and simple guide to Japanese currency here.

Most foreigners don't know that you CANNOT use your ATM card in Japanese ATMs.