Overseas ATM card

[nagasakirams]

https://wise.com/jp/

Thanks!
Perhaps you mean the wise debit card. I was thinking about it. I couldn't find much info on how it works and presumably, I have to put some money on the card before I go.

[nagasakirams]

Prestia (ex-Citibank) Global Pass

https://www.smbctb.co.jp/en/product/globalpass/

Thanks,!
Wish I'd switched over to Prestia when Citibank left. Instead I made the mistake of migrating to Shinsei.

[nagasakirams]

Seven Bank's debit card on the Cirrus network (separate application needed after opening your account)
https://www.sevenbank.co.jp/english/per ... t/how.html

Thanks so much! I'll check it out.
I'm glad to see there are quite a few options after all.

[nagasakirams]

Prestia (ex-Citibank) Global Pass

https://www.smbctb.co.jp/en/product/globalpass/

I second this recommendation! I'm currently in London for the first time since before the pandemic and it appears that almost every place is completely cashless now. The 200 GBP I had converted for spending money prior to arriving is nearly useless. Thank goodness I had tossed my Prestia Global Pass Visa/Debit card into my backpack. It works flawlessly for contactless payments and it is approved in less than a second. Amazing that a Japanese bank managed to get integrated into this system. This is the future.

Thanks! I didn't realize that cashless had become that widespread. Depressing really to be honest. I prefer cash. But maybe this card is the way to go from the ease point of view.

[nagasakirams]

Thank goodness I had tossed my Prestia Global Pass Visa/Debit card into my backpack. It works flawlessly for contactless payments and it is approved in less than a second. Amazing that a Japanese bank managed to get integrated into this system.

What is it about the Presita Global Pass that's better than the other options?

I don't know that it's better for everyone but for me it's more convenient because I already have a Prestia account with direct yen deposits every month so there is no need to transfer money anywhere. I can simply use my normal Prestia ATM card aka "Global Pass" and it just works like a normal contactless Visa card. I just went to Tesco and used my Prestia Global Pass to buy a bottle of grapefruit juice that cost £1.50. When I checked my Prestia account online I could see that it had debited 243 yen for the purchase. According to Google, £1.50 is equivalent to 237 yen at the current exchange rate. I think the spread of 4 yen per £1 is reasonable.

I also have a Shinsei account which offers the option of the Gaica Prepaid Visa card that behaves like a normal credit card but actually debits money from your Shinsei account. Applying for it was a hassle so I never bothered with it. I don't see why they can't combine the Shinsei ATM card and Gaica card functionality into a single card like Prestia does by default.

I'm not sure I get this about the Shinsei. I don't get the Prepaid part if it debits money from the account.
I was put off by the idea of prepaying as I have to decide how much I need before I go. But maybe I'm missing something.

[Tony]

I've not used the giaca as a debit card, but used it as an ATM card when abroad in Europe. You can easily top up in seconds from anywhere just by accessing the gaica website. If you top up in yen, there is no charge for topping up, or withdrawing the money back to your shinsei account later. Doing a currency conversion onto and out of the card does have a fee though.

[TJKansai]

When I checked my Prestia account online I could see that it had debited 243 yen for the purchase. According to Google, £1.50 is equivalent to 237 yen at the current exchange rate. I think the spread of 4 yen per £1 is reasonable.

I haven't had a chance to use the newish Prestia card overseas yet. I used the Citibank JP card in the past and it was convenient.

IMO, ¥4/GBP is a bit steep. Prestia's fees/spreads seem higher than my US-based cards, but then again, this is a Japanese bank. My US cards have no FX fee, plus I earn whatever points. My Japanese credit cards I never use due to the bad FX rates.

[Teflon]

I haven't had a chance to use the newish Prestia card overseas yet. I used the Citibank JP card in the past and it was convenient.

IMO, ¥4/GBP is a bit steep. Prestia's fees/spreads seem higher than my US-based cards, but then again, this is a Japanese bank. My US cards have no FX fee, plus I earn whatever points. My Japanese credit cards I never use due to the bad FX rates.

Yes, you are correct, it is a bit steep. This is especially true if you compare it with a credit card with no FX fees, as you mentioned. I'm not aware of any bank Visa debit cards that have no FX fees but maybe they exist. I've done some experiments here so I can comment a bit more on the various spreads for my US based cards:

#1 Chase Sapphire card purchase of JAL recommended lateral flow COVID "fit to fly" test for next week: £95.07. That showed up on my card history as $125.46 which is very close to the Google quoted conversion rate on that day which was $125.35 so only an 11 cent spread. This is obviously superior to the Prestia card.

#2 Chase contactless Visa/debit card purchase for some shopping: £75.00. That showed up on my checking account as a debit for $99.01 which is very close to the Google quoted conversion rate on that day which was $98.93 so only an 8 cent spread. However, a couple of days later, there was a "foreign exchange rate adjustment fee" of $2.97. That means ($2.97 + $0.08)/£75 equals a spread of 4 cents per £1 which is very similar to Prestia.

In conclusion, it does seem that using a no FX fee credit card is the way to go. Unfortunately, my Chase Sapphire card was issued a few years ago and it didn't come with the contactless payment functionality which means I don't use it often here in London where everything is contactless. I guess for small purchases less than £10 its acceptable to use my Prestia card because its so convenient.

[TJKansai]

I haven't had a chance to use the newish Prestia card overseas yet. I used the Citibank JP card in the past and it was convenient.

IMO, ¥4/GBP is a bit steep. Prestia's fees/spreads seem higher than my US-based cards, but then again, this is a Japanese bank. My US cards have no FX fee, plus I earn whatever points. My Japanese credit cards I never use due to the bad FX rates.

Yes, you are correct, it is a bit steep. This is especially true if you compare it with a credit card with no FX fees, as you mentioned. I'm not aware of any bank Visa debit cards that have no FX fees but maybe they exist. I've done some experiments here so I can comment a bit more on the various spreads for my US based cards:

#1 Chase Sapphire card purchase of JAL recommended lateral flow COVID "fit to fly" test for next week: £95.07. That showed up on my card history as $125.46 which is very close to the Google quoted conversion rate on that day which was $125.35 so only an 11 cent spread. This is obviously superior to the Prestia card.

#2 Chase contactless Visa/debit card purchase for some shopping: £75.00. That showed up on my checking account as a debit for $99.01 which is very close to the Google quoted conversion rate on that day which was $98.93 so only an 8 cent spread. However, a couple of days later, there was a "foreign exchange rate adjustment fee" of $2.97. That means ($2.97 + $0.08)/£75 equals a spread of 4 cents per £1 which is very similar to Prestia.

In conclusion, it does seem that using a no FX fee credit card is the way to go. Unfortunately, my Chase Sapphire card was issued a few years ago and it didn't come with the contactless payment functionality which means I don't use it often here in London where everything is contactless. I guess for small purchases less than £10 its acceptable to use my Prestia card because its so convenient.

I've used my Etrade card debit card at ATMs overseas. In general, the ATM fee is reimbursed and the rate is good, similar to credit cards that do not charge FX fees.

[Tkydon]

On that note, anyone have any suggestions for an FX free CC? Are they the expedition rather than the rule in general? I have limited experience.

What do you mean, an FX Free CC?

Prestia Global Pass - If you have the money in that currency in your Multi-Money Account, they take the money from that Currency with no fee. If not, they convert to JPY at the Spot Rate + their standard commission exchange rate (Y4 for USD). It's stated in the T&Cs.

See all Terms and Conditions here:

https://www.smbctb.co.jp/en/product/globalpass/

So planning and forethought would mean that your FX Spread would be Y1 for USD at the rate you received at the time you converted, instead of Y4 at the time when you spend.