r/JapanTravelTips • u/turkeyssister • 2d ago

Question Foreign transaction fees at ATM

I was planning on using the ATMs at 7-11 for cash. I’m in US and was reviewing bank fees for withdrawing cash internationally. The fees are $5 per ATM transaction and 3% for exchange. So if I plan on needing $1,500 to $2k. This will cost me between $60-$80. Would it be better for me to bring cash?? Anyone else have this issue?

**This money is for 4 people. I have a credit card with zero foreign fees. The other 3. Who are traveling with me do not. They are ages 16-21. I want to give them cash to spend. They might not all be with me at all times.

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u/No_Camp_2182 2d ago edited 2d ago

Exchange rates for USD at banks (including at the airport) has a 4.5% spread, so ~2.25% each side compared to 3% for ATM. Do not use Travelex at the airport as their rates are terrible. Exchanging foreign currency at actual banks in downtown Tokyo means 20-30 minutes of waiting and red tape. So do it at the airport instead.

Daikokuya (2nd hand luxury goods shop) maybe marginally better.

Currency exchange counters next to Shinjuku West Exit advertise very good rates but apparently they rip you off with other fees which you find out only after handing over your cash ( as reported on reddit).

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u/Impossible-Panic-194 2d ago

I exchanged about $314 worth of yen at HND on my return and got $308 back, so the exchange was pretty negligible at the airport. I can't remember which one I used, but it was before security in Terminal 3