Anyone else notice a new screen during withdraws from 7-Eleven ATMs? There’s info showing a 3.5% exchange fee.
In the last decade living here, 7-11 has been great for withdrawing dollars, but I always thought the fee was much lower than 3.5%. Honestly I’ve never been sure what the fee was, other than negligible. Sure, in recent months the yen has crashed so withdrawing dollars is still a win, but just surprised by the recent change. Or was it always 3.5% and I was just too ignorant to notice?
7-11’s terrible ATM info website is of little help.
Cheers
11 comments
Yes I just noticed that too. Could just be the yen fluctuating but when I chose dollars the other day there was a few more dollars charged to my card than when I chose yen today.
It’s due to the weak yen.
I noticed this too and canceled the transaction. I’m glad I got about ＄8K out before this started.
Anyone know a better option now?
I’ve been withdrawing from JPost ATMs with my USA debit card. My bank charges a flat $5 foreign ATM fee + 2.5% foreign transaction fee.
I also noticed that, perhaps it s a JPost thing, but I can’t withdraw more than 30000 in a single transaction and not more than 30000 a day. Yen, these are in yen.
If you open an account with Charles Schwab they will reimburse all ATM withdrawal fees
TLDR; select YEN.
select the YEN option and it will withdraw yen using your debit card provider’s exchange rate. this is the regular behavior you are accustomed to.
if you select the DOLLAR option, you are allowing 7-11 to use *their* exchange rate, which will take an additional ~3% that goes into their pocket. there is no reason to ever do this, as far as i am aware.
you’ll also see this behavior occasionally at some businesses such as Burger King.
Capital one offers no atm fees withdrawn in yen.
Yup, I saw it and I was like “yeah, please take it out in yen.” it was still cheaper.
DO NOT USE THE USD OPTION. ITS MORE EXPENSIVE BY ABOUT 10 BUCKS (when taking out 50000yen)
It’s called “Dynamic currency conversion” and it’s been happening for a long time with PayPal or when you use cards overseas at stores etc.
Good thing is it’s usually optional, but sometimes they make it hard to find.
Is there any ATM that doesn’t charge withdrawal fees for international cards? And besides JPost and 7-11, is there any bank/ATM that allows withdrawal of more than 5 man?