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Want to exchange USD 2012/3/7 19:42
I am looking to exchange a very large amount of USD to JPY. I'm looking to avoid any commission fees with this. Some places I've heard of charge a percentage of the overall value on top of the exchange rate. Can anyone confirm this? What are the rates they charge? Can the Post Office echange large amounts at one time with no commission? Any help would be appreciated.
by themosth8d  

Re: Want to exchange USD 2012/3/9 17:06
I think we need an indication what kind of 'large amount' you are talking about.

I exchanged an equivalent of 1 Mio JPY once without pre-informing the exchange bureau beforehand. They didnt seem susprised and all in all I payed around 10'000 JPY commission.

What do you mean by 'you do not want to pay comission'? You dont want to pay commission at all or a fixed amount instead of on a percentage basis?
by asdf (guest) rate this post as useful

Re: Want to exchange USD 2012/3/12 16:25
about 8-9 million yen is what i am looking to exchange for. i dont want to pay commission means just that. someplace that does exchanges for a flat exchange rate. I.E. if a bank or some such place gives an exchange rate of 79 JPY while the banks trade at 81 JPY and then charges me an additional 10% on top of that is not desirable. if there is a place there that trades for a flat exhange rate i would like to know where that is.

10 percent of what i want to exchange is nearly 10k USD.
by themosth8d rate this post as useful

Re: Want to exchange USD 2012/3/13 10:51
This might be a stupid question, but is the money in cash or not? If not, just place a simple order in your online account. If yes, you might have to answer a few investigating answers if you exchange it at a bank as this is an unsual large amount of cash. (source of money/purpose/...)

Depending on your answer I will post next steps :)
by asdf (guest) rate this post as useful

Re: Want to exchange USD 2012/3/13 12:22
cash.

my bank does not deal in foreign currencies. i have to do the exchange in japan because its difficult and risky to carry that amount of cash into the country.

either way just looking for options.
by themosth8d rate this post as useful

Re: Want to exchange USD 2012/3/14 13:47
You could try going to your local AAA. They do currency exchanges. I did so the last time I headed over there. Some,. I can't remember how much. I did the rest at the airport (Dulles).
by SSJ Jup81 rate this post as useful

Re: Want to exchange USD 2012/3/14 16:58
I am still confused - you do not want to bring JPY into Japan as this is kinda risky, right? But carrying exactly the same amount in USD is not risky to you?

Or do you withdraw the USD in Japan from your bank account and then exchange to JPY? Why not withdraw JPY in the first place then?

*confused*

Oh and you still did not inform us of the purpose...
I really wonder why you need such an amount in cash as this is very unusual (even in Japan where paying in cash is very common)


by asdf (guest) rate this post as useful

Re: Want to exchange USD 2012/3/15 09:45
I would consider a wire transfer for such a large amount of money. The cheapest way to do this will likely cost you a few percent in the exchange rate plus a flat wire transfer fee. It may be worth your time to shop around for banks that offer good rates and fees.
by yllwsmrf rate this post as useful

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