7-11 ATM withdrawals?

Is there any way for me to find out what exchange rate would be offered to me at a 7-11 ATM in comparison with the market rate? I'm trying to figure out what the best way for me to bring $13,000 USD to Japan...

What's the limit to withdraw usually? and is there any better exchange rate than a 7-11 ATM withdrawal?

Thanks!

Ask your bank, it is they who apply the exchange rate, not the ATM operator.

Yeah, the rate will be set either by your bank, or they might follow the rate set by your card issuer.

You can try travellers cheques, they will be registered to yourself and can be replaced if lost. You might be able to get a more favourable exchange rate but $13k is still a lot of money to bring in travellers cheques alone.

Last I checked the withdrawal limit per transaction is 50,000 yen. Don't know if the ATM has a withdrawal limit per day.

The Japan post ATM has a 100,000 yen limit per transaction and I find it works with more banks than the 7-11 ATM.

So exchange rates for everything are determined by the BANK? meaning, the same ATM will give different people different rates if they're with different banks, right?

I'm thinking of doing it with C. Schwab.. PNC only gives me 93% of market rate (terrible...) I could lose $500 because of the difference with the amount that I'm exchanging..

Yes, it's the customer's bank who does the currency exchange, not the ATM operator. The ATM operator does not want your foreign currency, it wants yen.

I'm gonna call them and ask. Is the ATM rate overseas the same they would offer me if I wanted to exchange at the counter here?

It may depend on the bank, with mine it is the same rate plus a small fee for usage of a foreign ATM. (When I pay with my card at a store, it's still the same exchange rate, but without the foreign ATM fee.)

You could get a travel money card (various companies offer these, at least here in Australia), and pre-load it with yen before you leave. Then you won't have to worry about the exchange rate fluctuating while you're overseas. The travel money cards also tend to give better rates than banks, or so I've found.

and those work like regular debit cards? are they visa/mastercard?
what are the most notable companies?

Just to add that withdrawal limits by your bank also come to play.

If you bank limit is much lower than ATM limit, than you can only withdraw up to your bank limit.

So double check with your bank and make sure you apply for overseas withdrawal as some banks may have block overseas withdrawal for safety/security precaution.

They can be VISA or Mastercard depending on the company. They operate like cash cards: you load a certain amount and can use the card to withdraw money at ATMs or make purchases using EFTPOS or credit. You can usually add more funds using the internet. In Australia, most of the major banks each have one, Travelex has one, QantasCash is one for Qantas Frequent Flyer members, and there's also the 28 Degrees Mastercard which I believe is the most popular (as it does not charge for use at ATMs or at point of purchase). Just use Google to do a bit of research and find the one that's best for you.

Go and talk to your bank.

It is best to notify your bank that you will be going overseas and making payments and withdrawals.

travel money card are not always a good idea. They charge you for first activating the card, then have an added transaction fee every time you use it, then have regular maintenance fees, or whatever they are called, even if you don't use them.

I have read horror stories about them on travel blogs. Both Australians and Americans found that few businesses accepted these cards in countries where the majority of cards are chip and PIN (Japan, Europe)

Others have managed to use them abroad, but found out that X amount was gone (all the sneaky card fees) and that they couldn't reload them in a foreign country..

Bringing over $10 000 cash is not allowed in many countries (most of the time we are asked that question at the US border..we usually say "wish I had that much money around" and the US border staff chuckle "me too" but they are serious and regularly seize undeclared money over 10 000).

Anything over $9999 has to be declared and will be under scrutiny by the U.S. Customs and Border Protection for possible illegal activity. If you carry $10K or over and do not declare it, you will not only forfeit the money, but you can also be criminally prosecuted.

I dont have a problem declaring it... isn't that just a form that you need to fill out and sign?

Also, after all I've figured out that Charles Schwab is the best option... They dont charge you any fees at all and reimburse anything the ATM charges you overseas.. This couldn't really get any better. I also heard that their exchange rate is much better that others... I'm gonna have to call them and ask

you can check here to see what foreign exchange rate VISA applied to a transaction for a selected date

http://usa.visa.com/personal/card-benefits/travel/exchange-rate-calcul...

by comparing that to your receipts you can see how much additional charges were added by your bank.

Yes your bank sets your daily limit and Exchange rate.

"Geocontrol" was introduced in 2012 by European cards issuers requiring you to inform them about the location you're traveling to and the length of your stay.
Failing to activate Geocontrol will result in your card being blocked at the first foreign transaction.