The Japanese currency is the Japanese yen, abbreviated ¥ (or JPY in foreign exchange contexts). As of April 2011, the yen hovers at around 82 to the dollar. The symbol 円 (pronounced en) is used in the Japanese language itself.
Coins: 1 (silver), 5 (gold with a center hole), 10 (copper), 50 (silver with a center hole), 100 (silver), and 500 yen. There are two ¥500 coins, distinguishable by their color. (The new ones are gold, the old ones are silver).
Bills: 1,000 (blue), 2,000 (green), 5,000 (purple), and 10,000 yen (brown). ¥2,000 bills are rare. New designs for all the bills except ¥2,000 were introduced in November 2004, so there are now two versions in circulation. Most merchants will not object to receiving a ¥10,000 bill even for a small purchase.
Japan is still fundamentally a cash society. Although most stores and hotels serving foreign customers take credit cards, many businesses such as cafés, bars, grocery stores, and even smaller hotels and inns do not. Even businesses that do take cards often have a minimum charge as well as a surcharge, although this practice is disappearing. One tip: the most popular credit card in Japan is JCB, and you can use Discover cards anywhere with a JCB logo. Most merchants are not familiar with this, but it will work if you can convince them to try!
The Japanese usually carry around large quantities of cash — it is quite safe to do so and is almost a necessity, especially in smaller towns and more isolated areas. In many cities, the Japanese can also use mobile phones to pay for their purchases where mobile phones function like credit cards and the cost is billed to them with their mobile phone bill. However, a Japanese phone and SIM card is required to make use of this service so it's typically not available to foreigners on short visits. If you already have a Japanese phone, be aware that initializing the prepaid card on a rental SIM will incur data charges, though this will most likely be less than the cost of a physical card.
Almost any major bank in Japan will provide foreign currency exchange from US dollars (cash and traveller's checks). Rates are basically the same whichever bank you choose. Having to wait 15-30 min, depending on how busy the branch gets, is not unusual. Other currencies accepted are euros; Swiss francs; Canadian, Australian, and New Zealand dollars; and British pounds. Among other Asian currencies, Singapore dollars seem to be the most widely accepted, followed by the Korean won and Chinese yuan.
Exchange rates for US dollars and euros are typically very good (about 2% below the official rate). Exchange rates for other currencies are very poor (up to 15% below the official rate). Other Asian currencies are generally not accepted (currencies from nearby countries, like won, yuan, and HK$, are exceptions). Japanese post offices also can cash traveller's checks or exchange cash for yen, at a slightly better rate than the banks. Traveller's checks also have a better rate of exchange than cash. If you are exchanging amounts in excess of US$1,000 (whether cash or T/C), you will be required to provide identification that includes your name, address, and date of birth (to prevent money laundering and the funding of terrorism ). Since passports usually do not show your address, bring along another form of ID such as a driver's license that shows your address.
Japanese ATMs, known locally as cash corners (キャッシュコーナー kyasshu kōnā), generally do not accept foreign cards and the availability of credit card advances, known as cashing (キャッシング kyasshingu), is spotty. The major exceptions are:
Over 12,000 Japanese 7-Eleven stores with ATMs accept foreign cards for cash withdrawals. Accepted cards include Mastercard, Maestro, Visa, American Express, JCB and UnionPay, and ATM cards with the Cirrus and Plus logos. These are the most useful as they are everywhere and are accessible 24/7.
JP Bank (ゆうちょ Yū-cho), formerly the Postal Savings Bank and hence found in almost every post office, which in turn has a branch in almost every village. Most postal ATMs provide instructions in English as well as Japanese. Plus, Cirrus, Visa Electron, Maestro, and UnionPay are accepted, and you can do credit card advances on Visa, Mastercard, Amex and Diners Club. Your PIN must be 6 digits or less.
Citibank, which has a limited network (see for a list) but does have ATMs at the major airports.
HSBC (香港上海銀行) ATMs are few and far between, but these are capable of taking Visa and MasterCard.
Shinsei Bank (新生銀行) ATMs, which accept Plus and Cirrus, are located at major Tokyo Metro and Keikyu stations, as well as in downtown areas of major cities.
SMBC (三井住友銀行) and Mitsubishi UFJ(三菱東京UFJ銀行) ATMS will take UnionPay cards.
One thing to beware: many Japanese ATMs are closed at night and during the weekends, so it's best to get your banking done during office hours! An exception is 7-Eleven, which is open 24 hours.
Also, a note for those with UnionPay cards: 7-Bank and Yucho both take an additional ATM fee in addition to the fee charged by the issuer. The SMBC/MUFG will not, so it's best to withdraw cash while their ATMs are active.
On top of these, there are cash dispensers (abbreviated to CDs in Japan), intended for credit card cash advances. Some will work with foreign-issued ATM/debit/credit cards.
SMBC, UC Card, and Mitsubishi UFJ Card machines will take Visa and MasterCard.
Orico machines will take MasterCard only.
AEON machines take Visa, MasterCard, and UnionPay.
JCB machines will take Visa, MasterCard, American Express, JCB, and UnionPay.
Note the difference between CDs and ATMs, even for the same financial institution. For example, for foreign-issued cards SMBC and MUFG bank ATMs only take UnionPay, while SMBC and Mitsubishi UFJ Credit cash dispensers take only Visa/Mastercard.
Vending machines in Japan are known for their pervasiveness and the (notorious) variety of products they sell. Most will take ¥1,000 bills, and some types such as train ticket machines will take up to ¥10,000; none accept ¥1 or ¥5 coins, nor ¥2,000 notes. And even the most high-tech vending machines do not take credit cards, save for certain ones in train stations (though there are limitations — for example, JR East ticket vending machines require a PIN of four digits or less; most credit card customers would be better off purchasing from a ticket window). Note that cigarette vending machines require a Taspo card (age verification), which unfortunately are off limits to non residents, but local smokers are usually happy to lend you theirs.
Prepaid electronic cards are quite popular in Japan for small purchases. There are cards for train fares, convenience stores purchases, and public telephones, though they aren't interchangeable.
There is a 5% consumption tax on all sales in Japan. As of April 2004, the tax must now be included in all displayed prices (which is why so many prices are awkward amounts like �105 or �525), but some stores still also display tax-excluded prices, so pay attention. The word zeinuki (税抜) means tax-excluded, zeikomi (税込) means tax-included. If you cannot find out any words in the price card, most of them are tax-included.
Always keep a sizeable stack of reserve money in Japan, as if you run out for any reason (wallet stolen, credit card blocked, etc), it can be difficult to have any wired to you. Western Union has a very limited presence even in the larger metropolitan areas (their agreement with Suruga Bank ended in 2009, and they have just started a new agreement with Daikokuya as of April 2011), banks will not allow you to open accounts without local ID, and even international postal money orders require proof of a residential address in Japan.
The Most Frequently Asked Travel Questions about Japan
Where To Stay & Best Hotels in Japan - updated Apr 2024
SAVE up to 75% on Last Minute deals! Search for discount Japan hotels, motels, apartments, hostels, guest accommodations and vacation resorts. Book now and pay at the hotel. Instant email confirmation!
Japan Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.
