I just noticed upon withdrawing money from my US account at my local 7-11 ATM that there now exists a **3.50% conversion fee** per transaction, which didn’t exist before. Meaning I just basically paid 7-11’s ATM a fee of $32 for withdrawing 10 万円.
Does anybody have suggestions about places with a better exchange rate, or minimal conversion fee to withdraw from an international account into JPY?
3 comments
What about Yucho ATMs?
[https://www.reddit.com/r/japanlife/comments/vqnx01/7eleven_atm_withdraw_fee_to/](https://www.reddit.com/r/japanlife/comments/vqnx01/7eleven_atm_withdraw_fee_to/)
top comment explains what’s happening.
Don’t convert. Unless I misread you, this happens because you ask for conversion from USD at the ATM. You should never do that; instead, choose to withdraw/charge in JPY. Your CC/debit card company will then do the conversion for you and that will be in principle quite close to the market rate. I’d be surprised if your bank/cc company charge a percentage conversion fee at the ATM in Japan. Edit: of course the atm will always charge you a fee for the withdrawal itself, but that’s normal and not relate to the currency/conversion but because you withdraw from an institution outside Japan.