No Fee Currency Exchange in Japan (from USD)

Currency

One of the most frustrating aspects of travel can be currency exchange. On my first trip to Japan, I went to the bank, ordered Japanese yen, lost some USD in the conversion process for fees, and lost more USD in fees and conversion on the way back! I probably lost several hundred dollars due to the fees for exchanging cash at the bank. BUT - I found a better way…

On my second trip, I discovered a secret to currency exchange that not many people seemed to know about. Capital One’s 360 checking account. Capital one had no international transaction fees, no ATM fees on Seven Bank ATMs during 7 am and 7 pm, and an EXACT exchange rate. That means they didn’t short me any yen in the exchange process. The airports may give you 107 yen for every 1 USD, when the actual exchange rate is 110 yen for 1 USD (just an example). They keep that 3 yen per dollar as their fee for doing business. However, Capital One did not do this. They gave me the full 110 yen for 1 USD. They gave the exact exchange rate… Through a Seven Bank ATM.

So how did it work for me?

  1. I got a Capital One 360 Checking Account.

  2. I put USD into my new account.

  3. I went to Japan, went to any 7 - Eleven in Japan or any other Seven Bank ATM (they have them in the airports, too).

  4. I got cash out of the ATM, between 7 am and 7 pm with no ATM fees, no international fees, just an exact exchange rate for cash.

Additionally, I used my 360 debit card at any location that accepts mastercard in Japan, also without any international fees. Almost every other bank I checked has international fees to use a debit card in another country. Not Capital One.

So if you’re planning a trip to Japan and struggling with currency exchange, try getting a 360 Checking from Capital One to save yourself the money on fees, because believe me… those can really add up.

There are some cash limits, so check your card conditions and Seven Bank ATMs for details. I used this trick in both 2018 and 2019. This is not a paid review in any way. I just wanted to share my experience with you. Also, I’m sure that companies change their conditions and fees from time to time, so let me know if you see something that doesn’t work anymore.