Just landed - wondering what gives the better rate in Japan: ATM withdrawal or airport exchange counter?
ATM is better by far. At Osaka Itami Airport, the money changer’s rate was awful - I think they offered 35 yen per AED. Used my Mashreq Mastercard at a Lawson Bank ATM instead and got almost 38. No contest. Only time I’d use the airport counter is if I landed super late and all ATMs were down, which hasn’t happened so far.
I did both just to compare. Got 35,000 yen from the exchange counter at Narita and then another 35,000 yen from a Seven Bank ATM with my ING debit card. The ATM gave me around 5 percent more yen for the same euro amount, even after a €2 withdrawal fee. I always trust ATM rates more than airport exchange desks, which usually build in a big markup.
Just flew into Kansai Airport last week. The money exchange counter offered 143 yen per SGD, but when I used my DBS Visa debit card at a Seven Bank ATM, I got 147 yen per dollar even after fees. That’s a huge difference. Airport counters are convenient, but the rates are not great. ATMs inside 7-Eleven or Japan Post are much better for real-time FX rates.
I landed at Haneda and checked the Travelex counter rate for USD to yen. It was way worse than what I got 10 minutes later from a 7-Eleven ATM inside the terminal. Used my Charles Schwab debit card, no ATM fee, and the exchange rate was way closer to market rate. Hands down, ATM wins. Just avoid DCC if it asks whether to charge you in USD, always choose yen.