Hello. I have a Turkish bank account that holds Japanese Yen. Obviously, the bank account’s main savings account is in Turkish Lira, but I can buy and hold Japanese Yen.
I know I can withdraw my Turkish Lira at any ATM in Japan. However, I’m holding all my money as Japanese Yen in my foreign currency account, and I also know that 7-Eleven ATMs do not let us choose which account to withdraw from; there are only credit and savings options.
I want to know if it is possible to withdraw Japanese Yen from my bank account at Japanese ATMs. Because the main account of my bank is in Turkish Lira, I have a feeling that the ATMs may not be able to recognize the Japanese Yen. I want to know.
You may ask why I would bother with this. Well, in Turkey right now, the exchange rate for Turkish Lira is very volatile. It is losing value against every other currency, and the difference between buying and selling rates is quite high. For example, the central bank says 1 USD = 20.80 TRY, but banks buy at around 20.50 and sell at around 22.50. It’s the same for the Japanese Yen, but the Turkish Lira keeps declining.
That’s why I thought I could buy Japanese Yen from my bank and use them in Japan, but whether I can use them or not is unknown to me right now. I called my bank and asked them, but they don’t know. I called another bank, and they told me I cannot. Yesterday, I went to the bank and asked directly, but they told me I could choose the account I want to withdraw from, which I know I could not do because I saw videos on YouTube. Maybe some other ATMs would let me choose?
Please enlighten me.
3 comments
This is a copy of your post for archive/search purposes.
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**A question about ATM’s**
Hello. I have a Turkish bank account that holds Japanese Yen. Obviously, the bank account’s main savings account is in Turkish Lira, but I can buy and hold Japanese Yen.
I know I can withdraw my Turkish Lira at any ATM in Japan. However, I’m holding all my money as Japanese Yen in my foreign currency account, and I also know that 7-Eleven ATMs do not let us choose which account to withdraw from; there are only credit and savings options.
I want to know if it is possible to withdraw Japanese Yen from my bank account at Japanese ATMs. Because the main account of my bank is in Turkish Lira, I have a feeling that the ATMs may not be able to recognize the Japanese Yen. I want to know.
You may ask why I would bother with this. Well, in Turkey right now, the exchange rate for Turkish Lira is very volatile. It is losing value against every other currency, and the difference between buying and selling rates is quite high. For example, the central bank says 1 USD = 20.80 TRY, but banks buy at around 20.50 and sell at around 22.50. It’s the same for the Japanese Yen, but the Turkish Lira keeps declining.
That’s why I thought I could buy Japanese Yen from my bank and use them in Japan, but whether I can use them or not is unknown to me right now. I called my bank and asked them, but they don’t know. I called another bank, and they told me I cannot. Yesterday, I went to the bank and asked directly, but they told me I could choose the account I want to withdraw from, which I know I could not do because I saw videos on YouTube. Maybe some other ATMs would let me choose?
Please enlighten me.
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I can’t speak for Turkish banks, but here in Japan generally speaking foreign currency accounts are meant to be used more as investment products and not for regular banking. Meaning your foreign currency funds are not directly accessible by things like ATMs or funds transfers.
I would suggest contacting your bank to find out if it’s something similar. My guess would be that it is.
If it’s less than 1M yen, you can easily bring it into Japan as cash. Exchange while it’s favourable exchange rate and cash out the account. Unless there’s problems out that much from turkey. That doesn’t solve your atm problem tho. Maybe you can get a wise card and load that. But I think the max is also 1M yen.