Fukuoka

πŸ’±

Currency Exchange

Sections

1. Overview of Currency in Japan

  • Currency Name: Japanese Yen (JPY, Β₯)
  • Denominations:
    • Coins: Β₯1, Β₯5, Β₯10, Β₯50, Β₯100, Β₯500
    • Banknotes: Β₯1,000, Β₯2,000 (rare), Β₯5,000, Β₯10,000
  • Japan is a cash-centric society, though credit cards are increasingly accepted in urban areas like Fukuoka. However, having cash on hand is still crucial, especially for smaller businesses, local restaurants, and transportation.

2. Best Locations for Currency Exchange in Fukuoka

Fukuoka offers several reliable options for exchanging foreign currency. Here are the most recommended locations:

A. Banks

  • Major Banks:
    • MUFG Bank (Mitsubishi UFJ)
    • SMBC (Sumitomo Mitsui Banking Corporation)
    • Mizuho Bank
    • Fukuoka Bank (a regional bank)
  • Services: Banks typically offer competitive exchange rates and are trustworthy. However, they may have limited operating hours (usually 9:00 AM to 3:00 PM on weekdays) and longer processing times.
  • Procedure: Bring your passport, as it is required for identification when exchanging currency at banks.

B. Currency Exchange Counters

  • Locations:
    • Fukuoka Airport (FUK): Currency exchange counters are available in both the international and domestic terminals. These are convenient for travelers arriving in or departing from Fukuoka.
    • Hakata Station: As a major transportation hub, Hakata Station has currency exchange services, including Travelex counters and ATMs that accept foreign cards.
    • Tenjin Area: The Tenjin district, Fukuoka’s shopping and entertainment hub, has several currency exchange offices, such as Daikokuya and World Currency Shop.
  • Advantages: These counters are convenient and often have extended hours compared to banks. However, exchange rates may not be as favorable as those offered by banks.

C. ATMs

  • International-Friendly ATMs:
    • Seven Bank ATMs (found in 7-Eleven convenience stores)
    • Japan Post Bank ATMs (located in post offices and some convenience stores)
    • Aeon Bank ATMs (in Aeon malls and supermarkets)
  • How It Works: These ATMs allow you to withdraw Japanese yen directly using your foreign debit or credit card. The exchange rate is determined by your home bank, and there may be additional fees (see below for details).
  • Availability: ATMs are widely available and accessible 24/7, making them a convenient option.

D. Hotels

  • Some high-end hotels in Fukuoka offer currency exchange services at their front desks. While convenient, the rates are often less favorable than banks or ATMs.

E. Online Currency Exchange Services

  • Some services allow you to pre-order Japanese yen online and pick it up at the airport or a designated location. This can save time and ensure you get a competitive rate.

3. Fees and Costs

  • Exchange Rate Margins: Banks and exchange counters typically add a small margin to the mid-market exchange rate. This margin varies but is usually between 2-5%.
  • Service Fees:
    • Banks and exchange counters may charge a flat fee or a percentage of the amount exchanged.
    • ATMs may charge a withdrawal fee (Β₯100-Β₯300 per transaction) in addition to any fees imposed by your home bank.
  • Credit Card Fees: If you use a credit card for cash advances, expect higher fees and interest rates.

4. Step-by-Step Procedure for Currency Exchange

At a Bank or Exchange Counter:

  1. Prepare Your Documents: Bring your passport, as it is required for identification.
  2. Check Rates: Look for the posted exchange rates and confirm the rate before proceeding.
  3. Fill Out Forms: You may need to complete a simple form with your personal details and the amount you wish to exchange.
  4. Receive Your Yen: Count the cash before leaving the counter to ensure accuracy.

At an ATM:

  1. Locate an International-Friendly ATM: Look for ATMs with English language options and compatibility with foreign cards (e.g., Visa, Mastercard, Cirrus, Plus).
  2. Insert Your Card: Follow the on-screen instructions to select your language and transaction type.
  3. Enter the Amount: Specify the amount you wish to withdraw in yen.
  4. Confirm Fees: The ATM will display any applicable fees before completing the transaction.
  5. Collect Your Cash and Receipt: Keep the receipt for your records.

5. Recommended Practices

  • Compare Rates: Check exchange rates at multiple locations to find the best deal. Online tools like XE or OANDA can help you monitor real-time rates.
  • Avoid Airport Exchanges for Large Amounts: While convenient, airport exchange counters often have less favorable rates. Use them only for small amounts or emergencies.
  • Withdraw Larger Amounts at ATMs: To minimize fees, withdraw larger sums at once rather than making multiple small transactions.
  • Carry Small Denominations: Many small businesses in Japan prefer exact change, so having smaller bills and coins is helpful.
  • Keep Receipts: Retain receipts for currency exchanges in case you need to exchange leftover yen back to your home currency.

6. Cultural and Local Tips

  • Politeness: Staff at banks and exchange counters are typically very polite and professional. Bowing and saying "arigatou gozaimasu" (thank you) is appreciated.
  • Language Barrier: While many exchange counters and ATMs offer English support, not all bank staff may speak fluent English. Having a translation app or a written note with your request in Japanese can be helpful.
  • Cash Usage: While Fukuoka is modern, cash is still king in many places. Always carry some cash, especially when visiting smaller towns or rural areas nearby.
  • Tipping: Tipping is not customary in Japan, so there’s no need to tip staff at exchange counters or banks.

7. Emergency Tips

  • Lost or Stolen Cards: If your card is lost or stolen, contact your home bank immediately to block the card. Many international banks have partnerships with Japanese banks for emergency cash services.
  • After-Hours Needs: If you need cash outside of regular banking hours, head to a 7-Eleven or FamilyMart convenience store, as their ATMs operate 24/7.

By following this guide, you’ll be well-prepared to handle currency exchange in Fukuoka efficiently and confidently. Enjoy your time in this beautiful city!