Hello,
I have couple of thousand dollars that I am looking forward to change into Yen.
I went to SMBC (I have SMBC) to see if they can do the exchange but they recommended me to go to those private local exchange spots, get yen and deposit.
They also said some of those exchange spots can give you discount when you have SMBC account? <- this part I couldn’t understand thoroughly.
Any tips on where to exchange in Tokyo?
Also what would be the best way to deposit large amount of cash at once with SMBC?
Via ATM Machine (I heard it only allows up to 30十万 at once though)? or make a reservation with SMBC and deposit with the rep?
Thanks!
3 comments
Use a digital app like Revolut or Wise for the best rates.
https://www.interbank.co.jp/ninja/
buy rate for USD 148.0
google rate for USD 150.18
296000 jpy with interbank
300360 jpy with ‘google rate’
transferwise will give you 298238 JPY for 2000 USD, but may have a fee to withdraw to bank account (200-ish yen) and a fee to ACH USD out of your account ($13 USD) so it seems like actually just walking into ninja exchange and getting it done is cheaper than transferwise for this amount.
Local spots will not give you a good spot. They are a rip-off.