Sapporo
๐ฑ
Currency Exchange
Options for exchanging foreign currency to Japanese yen at banks, airports, and exchange counters.
Sections
1. Overview of Currency 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
- Exchange Rate: The exchange rate fluctuates daily. As of late 2023, ยฅ1 is approximately 0.0067 USD or 0.0063 EUR. Always check the current rate before exchanging.
2. Where to Exchange Money in Sapporo
Sapporo, the capital of Hokkaido, is a modern city with various options for currency exchange. Here are the most reliable places:
a. Banks
- Major Banks:
- Hokkaido Bank
- Sapporo Bank
- Japan Post Bank (Yucho Ginko)
- Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation (SMBC)
- Services: Banks offer currency exchange services, but they may have limited hours (typically 9:00 AM to 3:00 PM on weekdays). Youโll need your passport for identification.
- Exchange Rates and Fees: Banks generally offer competitive rates but may charge a small handling fee (ยฅ500โยฅ1,000 depending on the amount exchanged).
b. Currency Exchange Counters
- Travelex: Travelex has counters in major areas, including Sapporo Station and New Chitose Airport. They are convenient and tourist-friendly, with extended hours compared to banks.
- World Currency Shop: Located in department stores like Daimaru Sapporo, this is another reliable option for exchanging foreign currency.
- Airport Exchange Counters: New Chitose Airport has several currency exchange counters that operate from early morning until late evening. These are ideal for immediate needs upon arrival.
c. ATMs
- International ATMs: Found in convenience stores (7-Eleven, Lawson, FamilyMart) and post offices. These ATMs accept foreign cards (Visa, Mastercard, Cirrus, Plus, etc.) and allow you to withdraw yen directly from your home bank account.
- Fees: ATM fees vary but are typically ยฅ100โยฅ300 per transaction, plus any fees charged by your home bank.
- Exchange Rate: ATMs often use the mid-market rate, which is favorable, but your bank may add a foreign transaction fee.
d. Hotels
- Some high-end hotels in Sapporo offer currency exchange services at the front desk. However, the rates are usually less favorable than banks or exchange counters.
e. Local Money Exchange Shops
- Smaller exchange shops can be found in tourist-heavy areas like Susukino and Odori Park. While they may offer competitive rates, always verify their legitimacy and check for hidden fees.
3. Typical Exchange Rates and Fees
- Exchange Rates: Banks and ATMs generally offer better rates than hotels or smaller exchange shops. Travelex and World Currency Shop are also competitive but may have slightly higher margins.
- Fees:
- Banks: ยฅ500โยฅ1,000 per transaction
- ATMs: ยฅ100โยฅ300 per withdrawal
- Exchange Counters: Often no explicit fee, but rates may include a margin.
4. Procedures for Currency Exchange
- At Banks:
- Bring your passport (mandatory for foreigners).
- Fill out a currency exchange form (staff will assist if needed).
- Hand over your foreign currency and receive yen in return.
- At Exchange Counters:
- Present your passport.
- Specify the amount and currency you wish to exchange.
- Complete the transaction and collect your yen.
- At ATMs:
- Insert your card and select your preferred language.
- Choose "Withdraw Yen" or "Foreign Card Withdrawal."
- Enter the amount and confirm the transaction.
5. Tips and Considerations
a. Plan Ahead
- Exchange a small amount of yen before arriving in Japan for immediate expenses like transportation or food.
- Avoid exchanging large sums at airports, as rates are often less favorable.
b. Use ATMs Strategically
- ATMs in convenience stores and post offices are widely available and operate 24/7, making them a convenient option for withdrawing yen.
- Check with your home bank for any international withdrawal fees or daily limits.
c. Avoid Black Market Exchanges
- Japan is a highly regulated country, and black market currency exchange is virtually nonexistent. Always use official channels.
d. Keep Small Denominations
- Many small businesses, vending machines, and public transportation systems prefer cash, especially coins and smaller bills (ยฅ1,000 or ยฅ5,000). Larger bills like ยฅ10,000 may not be accepted in some places.
e. Credit Cards and Digital Payments
- While cash is still king in Japan, credit cards (Visa, Mastercard, JCB) are increasingly accepted in urban areas like Sapporo, especially in department stores, hotels, and restaurants.
- Digital payment systems like Suica, Pasmo, and PayPay are also gaining popularity. Consider loading a prepaid IC card for convenience.
6. Cultural Practices and Policies
- Politeness: When exchanging money, itโs customary to use both hands when handing over or receiving cash. This is a sign of respect.
- Clean Currency: Japanese people value clean and crisp banknotes. Avoid presenting torn or heavily worn foreign currency, as it may be rejected.
- Receipts: Always keep your receipt after exchanging money. It may be required if you need to exchange yen back into your home currency when leaving Japan.
7. Emergency Options
- If you run out of cash and cannot find an exchange facility, head to a 7-Eleven or Japan Post ATM, as they are the most reliable for foreign cards.
- Some international credit cards allow cash advances, but this should be a last resort due to high fees.
8. Final Recommendations
- For tourists: Use ATMs for small amounts and exchange larger sums at banks or Travelex counters for better rates.
- For immigrants: Open a local bank account as soon as possible to avoid frequent currency exchange fees. Use international remittance services like Wise or Western Union for transferring money from your home country.
By following these tips and utilizing the resources available in Sapporo, you can ensure a smooth and hassle-free experience when managing your finances in Japan.