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Posted On: 2020-01-17

How to handle money and costs in Japan:

Despite a reputation for technology, Japan is still very much a cash-based economy, but trends have gradually been changing, and there has been a significant increase in the acceptance of other payment methods. While going to a new country for job, a candidate/job seeker must understand the dynamics of money and how he/she can use it to his/her advantage. The Japanese Yen is a world-renowned currency but is not found easily in other parts of the world. That said, understanding the systems that work will make your journey in Japan a smoother one, rather than you hunting places to make your next payment. Below are the modes of payment, you should keep in mind for handling money transactions comfortably & wisely in Japan:

• Cash- Japan is very much a cash-driven economy, with a lot of places still only accepting cash. The national currency in Japan is the Japanese Yen (¥).You must have cash when traveling to small cities and rural areas. It’s also preferred to use cash if the worth may be a bit. In other words, you'll want to possess small denominations for taxis, tourist attractions, small restaurants, and shops. Coins are great to own handy for travel lockers, public transportation, and vending machines.

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• Debit Cards- Debit cards from your home country generally aren't advised because of the fees – there are withdrawal fees, international ATM fees and, depending on your bank, you might get a foul conversion rate (plus more fees). They also cannot be used over the counter in Japan.

• Travel Cards-To make your travel much easier, always remember to carry travel cards in Japan. These are handy as you can load Japanese Yen onto your card before you go, and transfer money electronically from other accounts while you are in Japan. This is most suited for travelers on a short-term stay and is a helpful way to avoid carrying bundles of notes in your purse.

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