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020524 Best Ways to Get Japanese Yen

Best Ways to Exchange Japanese Yen: Cards & How to Withdraw Cash from 7 Bank ATMs

profileJustin Oh

Heading to Japan soon, but not sure what’s the best way to exchange your Singapore dollars for the weak Japanese Yen?

Well, you’ve come to the right place!

Source: Giphy

Here’s the ultimate guide to changing SGD for JPY!

Disclaimer: The information provided in this article is based on the research and experience of the author, who has been to Japan twice in the past 6 months with a third trip this year. 


TL;DR: Best Ways to Exchange Japanese Yen

Platform/Money ChangersExchange Rate (1SGD=X)Overseas Cash Withdrawal FeesATMs That Qualify For Free Withdrawals
For Smaller Cash Amounts
amaze by Instarem~114.76 JPY2%-
YouTrip114.70 JPYFree cash withdrawals of up to S$400 per calendar month, 2% thereafter7 Bank (7 Eleven)
Revolut114.36 JPYFree for first S$350 or first five withdrawals (Standard members) per rolling month

2% thereafter
7 Bank (7 Eleven)
For Larger Cash Amounts
Singapore Money Changers<114.31 JPY--
DBS Multiplier~113.51 JPY~770 JPY (¥550 DBS fees + ¥220 7 bank ATM fees)-

Rates accurate as of 11.30 am, 2 May 2024. Money changer rates sourced from CashChangers.co.

In This Article:


Current State of Payment in Japan

Many Singaporeans still believe that Japan is a heavily cash-based society. While that is true in Japan’s suburban and countryside areas, major cities such as Tokyo and Osaka have made strides in digital payment!

From my recent 12-day solo trip to Osaka/Kyoto/Nara, I made about 75% of my purchases with the amaze + Citi Rewards combo, which allows me to earn 4 miles per dollar and charges my Citi Rewards card in SGD for a pretty decent rate. As for my cash purchases, I spent less than S$300, a combination of leftover Japanese Yen from my previous trips and withdrawals made from both my YouTrip and Revolut cards!

Feel free to use my experience to gauge how much cash you need to bring/withdraw when you are there!

Best Ways for Digital Payment and Cash Withdrawal

The best ways to get cash for your Japan Trip depend on how much you intend to spend in cash.

Under S$1,000

For low amounts of under S$400 to S$1000, the best method is to use Multi-currency Cards and withdraw cash while you are in Japan.

These offer you the best exchange rates and (usually) free withdrawals (up to a specified amount) from 7 bank ATMs! Don’t worry, 7 bank ATMs are pretty common, just like 7-Eleven in Singapore.

For popular cards like YouTrip and Revolut, all you need to do is sign up for a free account, top the account up with SGD and bring your physical card to Japan to withdraw money from the ATMs!

As you can see, there are limits to the amount of cash you can withdraw for free. If you are kiasu (Hokkien: scared to lose) enough, you can sign up for multiple cards to withdraw up to S$1,450 without withdrawal fees each month.

However, as a word of caution, there have been numerous reports of fraudulent transactions, so be sure to lock your card when not in use!

Over S$1,000

For families or people who spend a lot more in cash when in Japan, it makes more sense to change money at local money changers in Singapore or pay a fixed withdrawal fee with a Multi-Currency Account.

One example of an MCA is the DBS Multiplier paired with the DBS VISA Debit Card, which you can use to withdraw cash from an ATM in Japan. It will cost you up to S$7 per withdrawal. While this may look expensive compared to the 2% fees that other multi-currency cards charge, it is a flat fee, which means you save more if you withdraw high amounts.

The breakeven point is if you are withdrawing an extra S$350 worth of cash after using up your free withdrawal limit. For example, if I only have a YouTrip card and I estimate that I will require S$1,000 worth of cash, it is cheaper to withdraw the first S$400 for free and the remaining S$600 through the DBS Multiplier/VISA Debit Card combination, rather than incur a 2% fee on the S$600 which will cost me S$12.

But since using this method to withdraw cash in Japan is quite a hassle, it is much easier to just convert your money in one go at a money changer. But just remember to keep your cash safe and separate your money into different bags! You don’t want to lose your money all in one go.

How to Withdraw Cash from 7 Bank ATMs

For those of you who have multi-currency cards like YouTrip and Revolut, here’s how you can withdraw money in Japan for free (up to the specified limit):

  1. Find your nearest 7 Bank ATM and make sure you have SGD or JPY stored in your account
  2. Insert your multi-currency card
  3. Select your language
  4. Click on ‘Withdrawal’
  5. Select ‘Checking’
  6. Enter your pin
  7. Enjoy your fee-free withdrawal!

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About Justin Oh
Your average Zillennial who is obsessed with anime, games, movies and of course, personal finance. Join me as I break down personal finance into easily digestible and fun bits!
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