RResidents in Japan

Will new yen design invalidate old money deposited into bank?

I’m leaving Japan and putting all my yen into my Wise account so I can exchange it later for USD.

My husband is spouting something about how the new yen design will invalidate all old yen, possibly including what people have already deposited into banks. He says the government will check everyone’s bank accounts.

This all sounds like a lot of nonsense, and he tends to watch a lot of conspiracy videos on YouTube, so I thought I’d ask if anyone here knows what he’s talking about and if his claims have any merit, or if there’s anything related to this that I need to look out for. I can’t find any information.

21 comments

  4. >This all sounds like a lot of nonsense,

    Because it is. On the plus side, you could always offer to take any useless yen off the hands of your husband / his friend’s, assuming they think it will no longer be worth anything…

    But honestly. Wow. These just get weirder and weirder.. a new bank note design destroying electronically recorded balances. (Bonus points if your husband also mentioned that NFTs were involved…)

  5. He is probably talking about CBDC (Central Bank Digital Curreny) This will come in the not so far future and at some point most governments, including the Japanese government will move away completely from cash money. This is a popular topic amongst financial conspiracy theorists.

    This however has nothing to do with your money on wise nor is it realistic that the Government will invalidate saving of the people.

    Your husband is clearly watching wayyy too many conspiracy theories and needs help.

    Let me guess, he is also a crypto bro or gold bug who wants to save his money in crypto or precious metals.

  7. He is right. Kishida’s minions will check each bank vaults in Japan and burn the old notes. Everyone will start with a clean slate once the new design are made available.
    S/

  9. Does he seriously think each person in Japan has a personal bank vault where the EXACT money they deposited into their account is carefully collected from the atm/bank branch they deposited it in and placed??? How does he think online transactions work then? Most people don’t actually collect cash and deposit into their account. It’s digital.

  10. I can’t imagine being in a relationship with someone this dumb. Imagine for a second if this was true. You know how catastrophic that would be for the population.

  11. This is a known right wing grift/conspiracy theory called “The Great Reset” that is often pushed by grifters to sell FX at insanely inflated values.

  14. This is a form of mental illness I’m afraid. Is he anti-vax, Trump supporter, flat earth etc?

  15. Oh no! All that money that I put in my UK bank account will be invalid because that had the queen’s face on!!

    I’m sorry to be rude op, but that is extremely stupid of him.

  16. > possibly including what people have already deposited into banks. He says the government will check everyone’s bank accounts.

    I hope he has some other redeeming qualities.

  17. I think, there are too many yen deposited under mattresses and in other “safe places” in Japan. If they’d invalidate those, Japan’s economy would likely implode, haha.

  18. I just asked my husband about this and he laughed and said he hasn’t heard anything about it.

  19. I’m so glad he’s becoming your ex. The new coin designs haven’t invalidated the old coins, so a new paper yen design won’t invalidate the old ones either. And the yen design won’t do anything to money in the bank.

    Honestly, all it’s going to do is make some old people confused when they get some new yen bills that don’t look like the old ones, and then they’ll bitch about how the young are ruining the country. And everyone will hopefully ignore them, although who fucking knows with politicians. The politicians could listen to them and bring back the old designs.

    But either way, money in the bank is safe. Because the computer doesn’t scan the bills and give you the exact same bills when you withdraw the money.

  21. Is your husband a wizard? Does he believe in dragons? Does he carry his coins in a little kinchaku? Where does he keep the key to his vault?

    You poor dear.

    What is going on today? I’m so bewildered.

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