Personal Finance

Converting overseas foreign exchange currency

  • Last Updated:
  • Oct 22nd, 2013 8:05 pm
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Jr. Member
May 11, 2012
101 posts
3 upvotes
VANCOUVER

Converting overseas foreign exchange currency

Hi Everyone

I think my following question may have answered but could not find best answer:

What would be the best way to convert a nominal amount (200$ cdn cash) to japanese yen cash.

Im thinking the following:
- local banks
- vcbe
- bank at airport
- local bank in japan
- online

As i dont have any specific investments or accounts at my local bank, any recommendation would be greatly appreciated!

Thanks!
5 replies
Deal Expert
Mar 25, 2005
20226 posts
1496 upvotes
For $200 either the bank or a cash advance with the Chase Amazon Visa.
Deal Addict
User avatar
Oct 4, 2004
3475 posts
362 upvotes
Vancouver
$200 with Amazon Visa, assuming it's pre-paid with a negative balance = get dinged 2.5%..
Use ATM card = dinged 2.5-4% + $2-5 fee.
VCBE or any local currency exchange in Japan should be able to take your cash and give you a "decent" rate without a fee, maybe 2-2.5% commission.
For such a small amount, I'd just do the latter.
Deal Expert
Mar 25, 2005
20226 posts
1496 upvotes
lhsonic wrote:
Oct 22nd, 2013 10:28 am
$200 with Amazon Visa, assuming it's pre-paid with a negative balance = get dinged 2.5%..
Use ATM card = dinged 2.5-4% + $2-5 fee.
VCBE or any local currency exchange in Japan should be able to take your cash and give you a "decent" rate without a fee, maybe 2-2.5% commission.
For such a small amount, I'd just do the latter.
Amazon Visa is a $5 fee with 0% commission, meaning 2.5% at $200 and lower the more is withdrawn. The exchanges in Japan charge around 3%.
[OP]
Jr. Member
May 11, 2012
101 posts
3 upvotes
VANCOUVER
Many thx for the info.
Guess best method would be to go to vcbe for oversea fx currencies then.
Thx again!
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