Travelers Checks at Narita Airport.

[Sascha]

Howdy folks. I landed two days ago at Narita Airport, and was trying to cash my TC and to my surprise the first bank where I cashed in last year wasn't accepting TC anymore, so they send me to the next bank (forgot both names since I was awake for 27 hours). They took TC, but I and other travelers were told that it takes to long to cash them, so they actually refused to take them and send us to Chibia Bank that finally took them, but if I read the tellers face right he also wasn't very happy about it. So it seems like the good old TC are coming to an end. Next time I bring cash. 

[katoftw]

People still use travelers cheques when there are cheaper and quicker options available to them?

Edited May 14, 2015 by katoftw

[miyakoji]

Next time I bring cash. 

You don't really want to be carrying cash around though, do you?

 

People still use travelers cheques when there are cheaper and quicker options available to them?

If I were to go to Japan next week, I'd take traveler's cheques.  What are these cheaper and quicker alternatives?

[westfalen]

I took travellers cheques to Japan on my first two trips, 1990 and 94 but since then have taken Yen I buy before I leave Australia and used my visa card to get extra from post office or 7-11 ATM's if I run out.  In 90 & 94 most large hotels would cash travellers cheques quickly and without problems, but in 94 I went to a bank in Hakata to cash some and took over an hour so I haven't used them since.

 

Take cash, Japan is still very much a cash society and it's perfectly safe and normal to carry big wads of notes, as they say "when in Rome...".  If you really want to take travellers cheques your hotel might be the best place to cash them, if they still do it.

[JR 500系]

Cash is still the language most countries speak, right? I mean, I don't think anyone would reject cash as a form of payment... Do have to be aware where you're travelling in though. Personal experiences tell me Malaysia is a real bad place to carry loads of cash around; better off with TC and CC. Japan on the other hand is mighty safe I think unless you flaunt your cash strapped around your necks begging to be robbed I think it's perfectly alright, just be cautions when you open your wallet to pay.

Edited May 14, 2015 by JR 500系

[westfalen]

I think any precautions you take anywhere else would be more than adequate in Japan, it's not like some countries where the pickpockets and scammers are lined up waiting for you to clear customs.  And I don't know of many other places where you can hand over the equivalent of a $100 bill in a 7-11 and not get told where to go, although I try not to do it if I can help it.

 

The two guys who run the Trainaway Tours trips to Japan that I have been on several times take only cash with them to pay for all their expenses and anything for the 20 or so tour group that has to be paid for.

[ToniBabelony]

It's not uncommon in Japan to see people flipping out an extra wallet, loaded with hundreds of thousands of yen, to support expenses from their regular purse. However, credit card payments are also very common anywhere. Usually at no extra cost. AFAIK, cheques are a particular USA thing, which is seen as something very bothersome and ancient anywhere else.

 

I'd say, go to Japan with a debit card and get a truckload of cash at every opportunity you can use an ATM (usually 7-11 and JP) and pay with CC (Visa, JBC, MasterCard, etc.) wherever possible. Please note that MasterCard and American Express aren't always accepted.

[katoftw]

You don't really want to be carrying cash around though, do you?

 

If I were to go to Japan next week, I'd take traveler's cheques.  What are these cheaper and quicker alternatives?

Carrying cash - Never been to or know much about Japan?

 

Cheaper and quicker options explained by others in this thread.

[katoftw]

I'd say, go to Japan with a debit card and get a truckload of cash at every opportunity you can use an ATM (usually 7-11 and JP) and pay with CC (Visa, JBC, MasterCard, etc.).

This is what I did.  JP and 7-11 are in every second block/street.  Withdrawing money takes about 30 seconds.  And you only pay a conversion fee.

 

No need to go and order cheques.  Then collect cheques later.  Then walk around finding somebody to accept cheques.

[E6系]

Hello,

 

Please just use Visa, Mastercard or JTB in the local ATM.  American Express is also widely accepted for credit card purchases.

 

BTW, I read recently that England is drafting legislation (or has already done so) to abolish cheques in 2018.  Is it true?  I think a good idea.

[tossedman]

Looks like you were going to cash your travellers' cheques for cash right at the airport. Like others have said, might as well skip the ancient and arcane and just use your debit or credit card at the ATM. Last time I used travellers cheques was in 1987 and they were a pita then. Been using ATMs in North America, Europe, Asia and Australia ever since with nary a glitch.

Edited May 14, 2015 by tossedman

[miyakoji]

E6, tossedman,

 

Thanks, when I moved to Japan in 2003, I took traveler's checks. The folks at Chugoku Bank never looked too happy, it took quite a while to get them processed. But, I wasn't comfortable with the idea of carrying around cash, if for no other reason than fear of losing it. And for weeks I thought it was a Chinese bank .

 

I did get cash from an international ATM one year at new year; the postal ATMs were closed and I was out of cash. I hadn't considered doing that as standard practice.

[Ochanomizu]

Hello,

 

It is common to carry cash in Japan, and safe.  You have nothing to fear.

 

Meanwhile, my 80 year old parents still travel internationally 2 - 3 times a year, spending my inheritance .... I don't think they have ever used travelers cheques.

[westfalen]

This is what I did.  JP and 7-11 are in every second block/street.  Withdrawing money takes about 30 seconds.  And you only pay a conversion fee.

And I like looking at the ATM reciept that says my bank balance is 2,600,000. :)

[lurkingknight]

standard precautions are more than enough. One of my travelling companions wore 20000yen with his railpass in a transparent pass holder around his neck both times I've gone with him. While I personally would not wear it visibly like that as it's just an invitation to being robbed, even in japan there can be some pretty destitute people, and that's an easy grab.

 

A wallet and or a backup money belt or pouch somewhere secure on your body is perfectly safe. It's still very much a cash society, but I did notice a huge swing towards credit cards between the 2 years I've been... a lot more places had modernized credit card systems and openly advertised that they took credit cards, whereas just 2 years ago it was kind of hit or miss.

 

 

My atm card that was advertised to work on a network that 7/11 uses did not work there. I was able to get it to work on a JPbank machine in hiroshima near the end of my trip, but that was more of an experiment, I still had plenty of cash.

[miyakoji]

Lurkingknight, what kind of fees did your home bank apply for the overseas withdrawals?

[katoftw]

My bank does the conversion, then adds a 2.5% conversion fee on my credit card.  It was much better than getting cash at home, as most currency places here wanted you give me 5JPY less than the going current rate, but no conversion fee.  Sounds good until you see the rate they will give you and then you realize that getting it in Japan will save you 50%.

 

So each time I withdrew 50,000 yen, with the going rate of around 97JPY to 1AUD last october.  So cost me about $528AUD for each 50,000 yen withdraw.

[lurkingknight]

I didn't make a withdrawl to check, it would've been whatever rate of the day the bank charged plus whatever the system access fee to use the plus network is.

 

I purchased my currency from a currency exchanger here at home that offered an amazing rate back in november.

[Jensen]

Hello,

 

Please just use Visa, Mastercard or JTB in the local ATM.  American Express is also widely accepted for credit card purchases.

 

BTW, I read recently that England is drafting legislation (or has already done so) to abolish cheques in 2018.  Is it true?  I think a good idea.

 

I believe they have but cancelled again with many people complaining!

IIRC its the business industry want to keep it and few 70+ people.

Most people in UK use chip and pin (either debit or credit card), I remember more then 95% transaction are chip and pin excluding cash.

 

Talking of which I usually cash and do a few credit card shopping on larger sum (unexpected shopping or hotel). 

Strange in Japan, I had been ask to input chip, sign on the receipt and non of the before (I think they wave my card).

Anyone knows the standard for typical for you guys?

Cause I always see Japanese people sign it.

[Jensen]

My bank does the conversion, then adds a 2.5% conversion fee on my credit card.  It was much better than getting cash at home, as most currency places here wanted you give me 5JPY less than the going current rate, but no conversion fee.  Sounds good until you see the rate they will give you and then you realize that getting it in Japan will save you 50%.

 

So each time I withdrew 50,000 yen, with the going rate of around 97JPY to 1AUD last october.  So cost me about $528AUD for each 50,000 yen withdraw.

Same for me, the exchange rate really good till they add the foreign transaction fees on either credit or debit. 

I usually get my in London (exchange specialist) or Hong Kong (Bank), they not that far off the actual exchange rate.

Plus I exchange some yen when I think the yen are weak like now against the US$.

Some I'm ready jet off tomorrow if I'm free haha

[railsquid]

Talking of which I usually cash and do a few credit card shopping on larger sum (unexpected shopping or hotel). 

Strange in Japan, I had been ask to input chip, sign on the receipt and non of the before (I think they wave my card).

Anyone knows the standard for typical for you guys?

Cause I always see Japanese people sign it.

 

There's some limit below which legitimation may not be required, not sure exactly how much but maybe 5000 yen? Might also depend on the retailer. We have a credit card for the local supermarket (has a 3% discount), it's in my wife's name but I've never been asked for a signature or the PIN number. However each purchase is generally between 1000 and 2500 yen. Apart from there I usually pay cash, the only place I don't is IKEA who do seem to always require input of the PIN number.

[katoftw]

Talking of which I usually cash and do a few credit card shopping on larger sum (unexpected shopping or hotel). 

Strange in Japan, I had been ask to input chip, sign on the receipt and non of the before (I think they wave my card).

Anyone knows the standard for typical for you guys?

Cause I always see Japanese people sign it.

Each country is regulated by their own banking commission/banks/govt.  So it is different everywhere across the world.  Ours for example has gone through many changes in the past 2 years copying other world banking leaders.  We all use the same technology, but use it in a different way.

[tossedman]

My mother in law just cashed in $800 worth of travellers cheques that she found. They'd been sitting around for the past 33 years or so. Luckily they got an older, more experienced teller at the bank who knew what they were. Her comment was something along the line of "We haven't sold these in years! I can't remember the last time I saw one!". Got them cashed though.

[cteno4]

I just did this last month with like $500 I had from old trips way back. Same reaction from the young teller and I think some of the checks may have been as old as he was!

 

Jeff

[lurkingknight]

lol... was it anything like handing a cashier in japan a 2000y note?

 

I got more on this trip and again, got confused looks when I handed them over.