Currency, Credit Cards and Changing Money in Japan

Currency
The unit of currency in Japan is the Yen (¥). Notes come in denominations of ¥10,000, 5,000, 2,000 and 1,000. Coins come in denominations of ¥500, 100, 50, 10, 5 and 1.

Credit Cards
Most major credit cards are accepted with Visa and MasterCard being the most widely so, but many shops and banks charge a transaction fee of between 2-4%. American Express is also accepted in a few places in the major tourist areas, but will not be quite as useful.

Despite being a very technologically advanced country, Japan is indeed still a very cash-based society and many transactions, especially outside of the big cities in more rural areas, it is mostly cash only. Small stalls and restaurants often don’t accept credit cards so it is always a good idea to have some cash on you. However, ATMs that accept western cards are wide-spread so it is usually not a problem accessing more cash if required.

Banks & ATMs
ATMs are widespread throughout Japan and cash advances can be obtained, but these can incur a relatively large fee so it’s best to check with your card issuer before travelling. You should also be aware that not all ATMs in Japan accept foreign cards so need to find one with a ‘Global’ sign or the logo of your card company on it.

You may want to notify your bank before leaving home, as some will automatically cancel your card after withdrawals from exotic destinations as a fraud prevention method. The more remote areas have fewer ATM’s so it is worth planning your expenditure to ensure you have enough money to survive in these areas.

Private and government offices are open either from 8:00 a.m. to 5:00 p.m. or from 9:00 a.m. to 6:00 p.m. Most commercial establishments are open from 10:00 a.m. to 8:00 p.m. daily. Banks are typically open from 9:00 a.m. to 3:00 p.m, Mondays to Fridays.

Prepaid cards
Prepaid credit cards are now the safest way to travel with "cash", and are much more cost effective and convenient than Travellers Cheques which are now slowly becoming obsolete. We recommend the Caxton FX Global Traveller card which offers a fixed exchange rate at 2.75% below the prevailing interbank rate when spending overseas and withdrawing local currency from ATMs. Unlike credit cards the application process is straightforward, but you need to allow 7 days for delivery of the card. For more information please visit caxtonfx.com.