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Converting Travellers Cheques overseas. (Japan)

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gogo419

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Hi all,

Hopefully someone is able to help me here.

I havent ever used travellers cheques before. I am going to Japan in a couple of months and came across the current exchange rates for currency exchange at Narita Airport (Link below)

My understanding from the table on that page is that if i take AUD Travellers cheques with me i am able to convert them to JPY at todays rate of 97.13JPY per AUD?

Am i looking at the the correct way? (Much better rate than the Aussie banks! Or anyone in Australia...?) :)

If someone can confirm this it would be much appreciated.

Cheers gogo
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Hvr

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Travellers cheques are redeemed at the rate of the day (actual time) they are presented. So if you take AUD cheques overseas whatever the rate is, is what you'll be paid. To get the rate at purchase time you would need to purchase the cheques in JPY.

To be honest travellers cheques are dying and a real pain to redeem and even find places to accept them. I suggest you would be better getting a card with the currencies pre-loaded here you get the same benefits of exchange rate as above.
 

gogo419

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Travellers cheques are redeemed at the rate of the day (actual time) they are presented. So if you take AUD cheques overseas whatever the rate is, is what you'll be paid. To get the rate at purchase time you would need to purchase the cheques in JPY.

To be honest travellers cheques are dying and a real pain to redeem and even find places to accept them. I suggest you would be better getting a card with the currencies pre-loaded here you get the same benefits of exchange rate as above.

SOrry should have been more specific. If i cash in an AUD travellers cheque today using the table i linked above. Is the rate i have circled the correct one to look at?

gogo
 

Hvr

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Yes it is, TCs generally pay slightly higher than cash.
 

auriga

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wow, big difference between cash and TC rates for AUD.
 

drron

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Japan is one of the places where TCs are still OK because of the differential to cash.
But change them at NRT.You can change them at banks but if not a Japanese speaker they will sometimes deny they do.Also outside of NRT there are various forms to fill in and be checked.It can take quite a while.
Don't worry about carrying a lot of cash around in Japan.it is one of the safest places to visit.
 
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ashleyn

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+1 for Hvr and drron, travelers cheques are old technology and a PITA. Get yourself a travel debit card or just use credit cards, Japan is very advanced, just have some cash for out of the way places.
 

gogo419

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Thanks for the replies. This will be my 6th time to Japan! :) So have no worries about safety. :) But the fact that the exchange rate is soo much better for TC I will take some in AUD and convert at NRT.

Got my expense forecasting down to a fine art for snowboardong trips now.. So the extra $50 or so I can pocket from a better conversion is an added bonus. (I am a student after all..) ;)

gogo
 

BAM1748

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Travellers cheques are excellent for the America's, but I don't know about Japan. I simply go to a bank and cash a $1000 at a time never had any issues. A trip a year ago to the US I didn't use my CC except for a couple of hotels and used cash entirely and when I got back I had a letter form the bank saying how I could use my card anywhere blah blah. I wrote back and said yes I could but also I choose not to, they even followed up with a call.

Perhaps it's becauseI still prefer the human touch of sittting down at a desk in a classic American bank and enjoying the service I used to get here. :D

Matt
 
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