Kyoto

๐Ÿ’ฑ

Currency Exchange

General information on exchanging foreign currency in Kyoto, including banks, dedicated currency exchange booths, and available options.

Sections

1. Currency Basics in Japan

  • Currency Name: Japanese Yen (JPY, ยฅ)
  • Denominations:
    • Coins: ยฅ1, ยฅ5, ยฅ10, ยฅ50, ยฅ100, ยฅ500
    • Banknotes: ยฅ1,000, ยฅ2,000 (rare), ยฅ5,000, ยฅ10,000
  • Commonly Accepted Foreign Currencies for Exchange: US Dollar (USD), Euro (EUR), British Pound (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), Chinese Yuan (CNY), South Korean Won (KRW), and others depending on the exchange service.

2. Best Places to Exchange Currency in Kyoto

Kyoto offers several reliable options for currency exchange. Here are the most recommended ones:

A. Banks

  • Major Banks: Mitsubishi UFJ Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation (SMBC), and Japan Post Bank.
  • Features:
    • Reliable and secure.
    • Offer competitive exchange rates compared to hotels or smaller kiosks.
    • May charge a small service fee.
  • Working Hours: Typically 9:00 AM to 3:00 PM on weekdays. Closed on weekends and public holidays.
  • Procedure:
    1. Bring your passport (required for identification).
    2. Fill out a currency exchange form (staff may assist if needed).
    3. Hand over your foreign currency and receive Japanese yen.
  • Tip: Banks may have longer wait times, so plan accordingly.

B. Currency Exchange Counters

  • Travelex: A well-known international currency exchange service with locations in Kyoto, including Kyoto Station.
    • Working Hours: Typically 8:00 AM to 8:00 PM (varies by location).
    • Fees: May charge a service fee or offer slightly less favorable rates than banks.
  • World Currency Shop: Operated by major Japanese banks, offering competitive rates.
    • Locations: Found in Kyoto Station and other central areas.
    • Working Hours: Usually 10:00 AM to 6:00 PM.

C. ATMs for Currency Exchange

  • Seven Bank ATMs (found in 7-Eleven convenience stores):
    • Allow you to withdraw Japanese yen directly using an international debit or credit card.
    • Available 24/7.
    • Support multiple languages (English, Chinese, Korean, etc.).
    • Fees: Your home bank may charge a foreign transaction fee, and there may be a small ATM usage fee (typically ยฅ100โ€“ยฅ200 per transaction).
  • Japan Post ATMs:
    • Found in post offices and some convenience stores.
    • Support international cards and offer competitive rates.
    • Working Hours: Vary by location, but many are open 7:00 AM to 11:00 PM.

D. Kyoto Station

  • Kyoto Station is a central hub for travelers and offers multiple currency exchange options:
    • Travelex and World Currency Shop counters.
    • ATMs that accept international cards.
    • Convenient for travelers arriving by train or bus.

E. Airports

  • If youโ€™re arriving at Kansai International Airport (KIX) or Osaka Itami Airport (ITM), you can exchange currency there before heading to Kyoto. Airport exchange counters are convenient but may have slightly less favorable rates compared to banks or ATMs in the city.

F. Hotels

  • Many hotels in Kyoto offer currency exchange services at the front desk.
  • Rates are generally less favorable than banks or ATMs.
  • Convenient for small amounts in emergencies.

3. Expected Fees and Costs

  • Exchange Rate Margins: Banks and official exchange counters typically offer better rates than hotels or small kiosks.
  • Service Fees: Some banks and exchange counters charge a flat fee (ยฅ500โ€“ยฅ1,000) or a percentage of the amount exchanged.
  • ATM Fees: ยฅ100โ€“ยฅ200 per transaction, plus any fees charged by your home bank.

4. Procedures for Currency Exchange

  1. Prepare Your Documents:
    • Bring your passport, as it is required for currency exchange in Japan.
  2. Check Rates:
    • Compare rates at different locations (banks, exchange counters, ATMs) to get the best deal.
  3. Fill Out Forms:
    • At banks or exchange counters, you may need to fill out a form with your details and the amount you wish to exchange.
  4. Receive Your Yen:
    • Count the money carefully before leaving the counter.

5. Tips and Considerations

A. Cultural Etiquette

  • Handling Money: In Japan, it is customary to use both hands when giving or receiving money. Use the provided tray at counters to place or receive cash.
  • Clean and Crisp Bills: Japanese people value neatness, so ensure your foreign currency is clean and not torn or damaged.
  • Politeness: Always be polite and patient, as Japanese culture emphasizes respect and courtesy.

B. Avoiding Scams

  • Avoid exchanging money with unauthorized street vendors or unofficial exchange services, as they may offer poor rates or counterfeit currency.
  • Stick to reputable banks, ATMs, or exchange counters.

C. Plan Ahead

  • Exchange a small amount of yen before arriving in Japan for immediate expenses (e.g., transportation, food).
  • Use ATMs for additional cash as needed, as they often provide better rates than exchange counters.

D. Credit Cards and Cash

  • Japan is still a cash-centric society, especially in Kyoto, where many traditional shops, temples, and small restaurants may not accept credit cards. Always carry enough cash for daily expenses.
  • Credit cards are widely accepted at hotels, department stores, and larger restaurants.

6. Working Hours and Availability

  • Banks: 9:00 AM to 3:00 PM (weekdays only).
  • Currency Exchange Counters: 8:00 AM to 8:00 PM (varies by location).
  • ATMs: Many are available 24/7, especially in convenience stores like 7-Eleven, Lawson, and FamilyMart.

7. Recommendations for Best Exchange Rates

  • Use ATMs for the most competitive rates, especially Seven Bank or Japan Post ATMs.
  • Avoid exchanging money at airports or hotels unless necessary, as their rates are less favorable.
  • Check online for real-time exchange rates to compare with local rates before exchanging.

By following these guidelines, you can efficiently and safely exchange currency in Kyoto while respecting Japanese cultural norms. Enjoy your trip to this beautiful city!