Travel

ATM withdrawal in japan

  • Last Updated:
  • Sep 24th, 2016 8:50 pm
Newbie
May 6, 2014
51 posts
88 upvotes
Toronto, ON

ATM withdrawal in japan

I'm travelling to Japan and was wondering if it would be better to exchange cash (JPY) at an exchange counter here in Canada before the trip, or withdrawing JPYs from a Japanese Post office ATM with my BMO debit card. I have heard that debit withdrawal is the best deal as one would get close to the market rate.. vs the markup the banks/exchange counters here in Canada charge. However, is it still a good deal if there is a 2.5% foreign currency conversion fee with BMO? How does this fee work? in your experience, do you really get close to the market/spot rate?

Thanks
2 replies
Deal Addict
Aug 21, 2007
4878 posts
457 upvotes
gave up on rfd for g…
the rate for US cash is decent at NRT at the banks. they are posted at NRT.

you can compare to what you can get here. ironically, rate for US TC's are the best.

i dont bank at BMO but my HSBC card worked fine at the machines in 7-11.

and frankly, what kind of money are taking out that you are fussing with getting a spread on spot. you some kind of high roller? if you can not deal with a few points on the fx, perhaps you should not be going to japan?

no, no bank that i am aware of will remotely give your average customer even remotely close to the spot rate on fx.
Left rfd
Newbie
Jul 4, 2003
27 posts
8 upvotes
Toronto
I just came back from Tokyo and withdrew from a post office ATM.

Sept 19 using an HSBC debit card, I got 1 CAD = 75.39 Yen. Mid day rate for that day was 1 CAD = 77.27 Yen
Sept 22 using a Chase Amazon Visa (after including cash advance fee), I got 1 CAD = 75 Yen. Mid day rate for that day was 1 CAD = 77.34 Yen

https://www.bmo.com/home/personal/banki ... n-exchange
The BMO page at the moment says they will sell at 1 CAD = 73.84 Yen.

I would make sure to at least bring enough cash for a day if you are going to withdraw from an ATM.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)