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Thread: Easiest way to covert money?

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    Zzzzzzz sleepyhead's Avatar
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    Easiest way to covert money?

    As I'll soon be swanning off (hopefully) to Japan for a couple of weeks I've stumbled upon a slight query.

    I have at least £2000 in a savings account specifically for this trip. I'd like to convert it all to Japanese Yen. Anyone got a real simple step by step guide?

    I'd visit the bank to discuss it only they close at 4:30pm...and I finish work at 4:30pm...and I'm completely out of holiday I can book.

    I was thinking of withdrawing the money, then going to the post office (or wherever) and getting it changed...but walking around with £2k in cash is not big nor clever and at the end of the day, I'd like to have 300,000 Yen (which could be £2050 or whatever) to take to Japan.

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    Re: Easiest way to covert money?

    You got a credit card that doesn't charge you for using it abroad ? Maybe worth doing that, so spend money on a credit card then come home and pay it all off with that money you've got saved.

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    Re: Easiest way to covert money?

    You can go to the Post office and other places and get your foreign currency using your debit card, so no need to withdraw the money before hand.

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    Re: Easiest way to covert money?

    I took adivce from here:-

    http://www.moneysavingexpert.com/tra...p-travel-money

    As such, I've just got the Santandar Zero credit card for the trip. However, it's probably a bit too late now to apply for one in time. I believe there's other links there for the best way to convert currency.

    PS: 2 weeks tomorrow!

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    Zzzzzzz sleepyhead's Avatar
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    Re: Easiest way to covert money?

    Quote Originally Posted by Behemoth View Post
    You got a credit card that doesn't charge you for using it abroad ? Maybe worth doing that, so spend money on a credit card then come home and pay it all off with that money you've got saved.
    Mmmeeehh...not a massive fan of getting more plastic..though saying that the plan is to use the "Pasmo" card out there.

    Quote Originally Posted by rastamanblues View Post
    You can go to the Post office and other places and get your foreign currency using your debit card, so no need to withdraw the money before hand.
    oO That I did not know. Thanks very much...however won't the bank have something to say when £2k+ gets charged to the card in one go? My debit card is RARELY used and I use 1 credit card for buying stuff and pay that off via online banking.

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    Zzzzzzz sleepyhead's Avatar
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    Re: Easiest way to covert money?

    Quote Originally Posted by Gerrard View Post
    I took adivce from here:-

    http://www.moneysavingexpert.com/tra...p-travel-money

    As such, I've just got the Santandar Zero credit card for the trip. However, it's probably a bit too late now to apply for one in time. I believe there's other links there for the best way to convert currency.

    PS: 2 weeks tomorrow!
    I know I'm bumping but I'm too tired to work out how to edit in whilst quoting you Gerrard.

    As i said before, not a massive fan of getting more plastic.

    But yes, 2 weeks to go...might go on a cash splash and buy myself a new pair of glasses for the trip. Still looking for the ideal hand luggage bag that I can put my laptop in. Oh and our first stop getting out of Narita Airport is a place called Mario's. First order of the day, is eat (I have NO idea what we are going to do with our luggage )

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    Re: Easiest way to covert money?

    Quote Originally Posted by sleepyhead View Post
    I know I'm bumping but I'm too tired to work out how to edit in whilst quoting you Gerrard.

    As i said before, not a massive fan of getting more plastic.

    But yes, 2 weeks to go...might go on a cash splash and buy myself a new pair of glasses for the trip. Still looking for the ideal hand luggage bag that I can put my laptop in. Oh and our first stop getting out of Narita Airport is a place called Mario's. First order of the day, is eat (I have NO idea what we are going to do with our luggage )
    Surely you mean what the airline is going to do with your luggage ??

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    Re: Easiest way to covert money?

    Watch your exchange rates!

    The post office and high street banks generally offer some of the worst rates.

    For example, Natwest will give you only 133 Yen to the pound right now.

    A currency exchange place I know of in London will give you 142.

    That's a 18,000 Yen difference, or 135 pounds on your 2000.

    Post Office is currently offering 138. Shop around to save money.

    http://www.natwest.com/tools/persona...es/default.asp
    http://www.thomasexchangeglobal.co.uk/

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    Re: Easiest way to covert money?

    Mark and Spencer is pretty good (the best I've found) for the cash you want to have ready in Yen as far as high street exchange rate goes though according to my friend there are online service with even better rates (I'll look into that before I go there next month). Edit: Ooh, looks like Thomas Global Exchange is a lot better. Is that an effective rate, or do they add some kind of percentage based commission?

    Beware that most Japanese ATM do *not* recognise British cards. The best place to withdraw is from Japanese post office (be sure to check their opening time). I believe Citylink is an exception if you bank with them. Oh, and remember 千 = 1,000 万 = 10,000 (I made that mistake before lol).

    Have fun!
    Last edited by TooNice; 01-10-2009 at 01:26 AM.

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    Re: Easiest way to covert money?

    I used M&S and Thomas Exchange Online before I moved to Japan - Thomas Exchange was by far the best rate but M&S was convenient. I had to do a bank transfer to Thomas Exchange for paying for the Yen, and the money arrived the next day special delivery.

    Obviously, make sure you have someone in to take the delivery, or be sure you can pick it up at your depot after work...

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    Re: Easiest way to covert money?

    Quote Originally Posted by sleepyhead View Post
    oO That I did not know. Thanks very much...however won't the bank have something to say when £2k+ gets charged to the card in one go? My debit card is RARELY used and I use 1 credit card for buying stuff and pay that off via online banking.
    Yes, usually there's a daily limit of about £250 for cash transactions.

    I think you've got two options - leave it in the bank and withdraw it as and when you need it over there - you'll be charged a bit each time but won't have to carry around cash etc. Or phone up the bank in a toilet break, arrange to withdraw the cash (that much will probably need an appointment in advance) and take it to somewhere like M&S (agreed - they gave me the best rates too). Ideally take a friend with you.

    edit, or the above option sounds good!

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    Re: Easiest way to covert money?

    Oh BTW I'm not very VERY jealous of you lot! (Gerrard + Sleepyhead)

    How much spare room have you got in your luggage as I could fill it all with requests for Nissan bits

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    Re: Easiest way to covert money?

    Covert money

    /nothing useful to add.
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    Re: Easiest way to covert money?

    Quote Originally Posted by rastamanblues View Post
    Oh BTW I'm not very VERY jealous of you lot! (Gerrard + Sleepyhead)

    How much spare room have you got in your luggage as I could fill it all with requests for Nissan bits
    Well, I'm planning to only fill my bag half full on the way out anyway, so I'll let you know towards the end if there's any room/weight left. Chances are I'll fill it with Saki or something; which will no doubt then make an appearance at the LAN.

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    Zzzzzzz sleepyhead's Avatar
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    Re: Easiest way to covert money?

    Quote Originally Posted by rastamanblues View Post
    Oh BTW I'm not very VERY jealous of you lot! (Gerrard + Sleepyhead)

    How much spare room have you got in your luggage as I could fill it all with requests for Nissan bits
    Put it this way...my suitcase is going to be more or less empty.

    Do you have a specific Nissan specialist that is based in Tokyo? Pretty sure we are gonna visit Spoon and Mugen at the very least. If I could bring back car bits, I would bring back a Garage Vary body kit, Stage21 bonnet and some CF wing mirrors for the MX5.

    Anyhow, thanks alot everyone for pointing me where to look. (As well as pointing out my typo of Covert and not CoNvert)

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