Money, Currency and Cards in Japan
General Advice
The yen is the Japanese currency unit (¥). There are four kinds of bills, 10,000 yen, 5,000 yen, 2,000 yen 1,000 yen and six kinds of coins, 500 yen, 100 yen, 50 yen, 10 yen, 5 yen, 1 yen.
Japan retains a strong tradition of cash, with credit cards only slowly being accepted. All money must be exchanged at an authorised bank or money changer. Major credit cards are now more widely accepted and whilst ATMs are available only international banks accept foreign credit or debit cards, and these can be more difficult to find outside major population centres Branches of Citibank are the most likely to have ATMs, and also to accept foreign credit cards; they also have the benefit of being open 24/7.
Increasingly unpopular due to high charges travellers’ cheques can be exchanged at most major banks, in larger larger hotels and some duty-free shops.
Money Exchange
You can exchange your home currency into yen at authorised foreign exchange banks. You can change your money before you leave the airport as there are currency exchange booths in the arrivals area in Narita Tokyo International Airport or Kansai International Airport. Alternatively there are banks in most major towns and cities that will exchange foreign currency.
ATM Availability
ATMs are increasingly available although only international banks accept foreign credit or debit cards, and these are hard to find outside of towns. Around 12,000 7-eleven stores began to accept foreign cards from July 2007 and some post offices also have ATMs which accept foreign cards. ATMs are increasing in popularity and this will soon provide a boon for the traveller.
Credit Cards
Cash is the most common form of payment, with credit cards only just starting to become more popular. Travellers may still encounter difficulties with foreign credit cards although American Express, Diners Club, MasterCard, Visa and other major credit cards are widely accepted in towns.
Travellers Cheques
Travellers’ checks and some foreign currencies can be used as a means of payment at most large hotels and at duty-free shops. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Japanese Yen or US Dollars.
