Using credit cards is fraught because merchants have to bear the cost of the "cash back" and processing fees and they work on very thin margins as it is. I don't think it is fair, but that is a different discussion. Nice to hear your explanation, Barrett.
Lots of great info! You absolutely want to figure it out before you’re there. Being stuck not able to access your money is super frustrating. We ran into the scenario of having to physically insert our card vs. tapping it, and being totally denied for charging over a certain dollar limit we were unaware of. Reading the fine print on our Wise card made it perfectly clear why it happened. For those planning to live there, the hurdle is obtaining a branded (Visa, MC etc) card tied to your Japanese address. I can’t download any Japanese apps (Paypay) because my Apple Store is tied to my US based credit card and address. I’ll be getting a Mobal branded pre-paid card with my full name (first, middle and last name) that will hopefully work until I meet the 6-month residency requirement banks need before they will issue one. It’s not easy but it’s part of the experience I suppose.
Thank you for sharing your experience! I have that issue as well with everything being tied to one App Store. I wish there was an easier way to access both!
I have an upcoming trip to Japan where I’ll be studying at a language school for an extended period of time. Why can’t you use an American credit card with no foreign transaction fees and pay off the credit card monthly with your linked checking account? I’d say 95% of places take American cc. The other 5% of places might accept suica if not the last resort is paying cash.
On my last trip to South Korea, I mostly used credit cards. Apple Pay is accepted here and there but not as much as it is in Japan. Before that, we used their WOWPASS which is like a tourist debit card. I withdrew from Schwab find as well. There was a kiosk ATM that was processing my card for a few very long minutes though.
I assume that in Japan you need to pay for gas, Internet, water, electricity on a monthly basis? How do you do that when you are not in Japan and your Japanese flat stays empty? I mean, you can’t just cancel and then re-sign contracts every 3-6 months when you travel back and forth, right? Do you receive mail from Japanese governmental offices and Japanese business partners on your Japanese address? If yes, what do you do if you are at that time in Hawaii?
We’re fortunate to have help with handling all of that. There are also services that help out with handling these types of situations such as MailMate. I’m aware of other people who have a similar type of lifestyle but I’m not really sure how they’re managing it.
Cash is good but there are some places in Japan that are cashless. Basically we need to prepare for both situations. They weren’t giving out new Suica cards but there is a tourist version. For tourists with smartphones though, they’re usually not needed as they can be activated in the phone. Many have switched to that and don’t bring their card around anymore.
As far as credit card is concerned, many banks in Asia including Japan, offer domestic card merchant accounts. Those are designed deliberately to not accept foreign cards. High merchant fee and fraud are the key reason why foreign credit cards are undesirable.
@ yup. I think many (not all) American Express card have foreign transaction fee. My experience is more VISA cards have zero fee, so I usually use those first if possible
@@jirojiro1029 It all depends on the card and the issuing bank. Most Visa card here has a 2.5% foreign transaction fee and that's why I mostly use cash or the Suica card (when possible).
I appreciate your post! My safepal wallet holds USDT and I’ve got the seed phrase (proof inner hobby bounce blouse able donate virtual luggage cart morning ticket). Could you explain how I can transfer it to Binance?
Using credit cards is fraught because merchants have to bear the cost of the "cash back" and processing fees and they work on very thin margins as it is. I don't think it is fair, but that is a different discussion. Nice to hear your explanation, Barrett.
Yeah it’s a tough situation. I heard there’s discussion about charging higher processing fees for foreign cards but we’ll have to see what happens.
Lots of great info! You absolutely want to figure it out before you’re there. Being stuck not able to access your money is super frustrating. We ran into the scenario of having to physically insert our card vs. tapping it, and being totally denied for charging over a certain dollar limit we were unaware of. Reading the fine print on our Wise card made it perfectly clear why it happened.
For those planning to live there, the hurdle is obtaining a branded (Visa, MC etc) card tied to your Japanese address. I can’t download any Japanese apps (Paypay) because my Apple Store is tied to my US based credit card and address. I’ll be getting a Mobal branded pre-paid card with my full name (first, middle and last name) that will hopefully work until I meet the 6-month residency requirement banks need before they will issue one. It’s not easy but it’s part of the experience I suppose.
Thank you for sharing your experience! I have that issue as well with everything being tied to one App Store. I wish there was an easier way to access both!
I have an upcoming trip to Japan where I’ll be studying at a language school for an extended period of time.
Why can’t you use an American credit card with no foreign transaction fees and pay off the credit card monthly with your linked checking account? I’d say 95% of places take American cc. The other 5% of places might accept suica if not the last resort is paying cash.
You can, that’s what I do.
You have been in South Korea a few times. What payment methods do you use there? Do Charles Schwab and SMBC Prestia work there without any issues too?
On my last trip to South Korea, I mostly used credit cards. Apple Pay is accepted here and there but not as much as it is in Japan. Before that, we used their WOWPASS which is like a tourist debit card.
I withdrew from Schwab find as well. There was a kiosk ATM that was processing my card for a few very long minutes though.
I assume that in Japan you need to pay for gas, Internet, water, electricity on a monthly basis? How do you do that when you are not in Japan and your Japanese flat stays empty? I mean, you can’t just cancel and then re-sign contracts every 3-6 months when you travel back and forth, right?
Do you receive mail from Japanese governmental offices and Japanese business partners on your Japanese address? If yes, what do you do if you are at that time in Hawaii?
We’re fortunate to have help with handling all of that. There are also services that help out with handling these types of situations such as MailMate. I’m aware of other people who have a similar type of lifestyle but I’m not really sure how they’re managing it.
That's very useful information. When it comes to travelling only, I guess cash is king? I heard that they have suspended the Suica card. Is that true?
Cash is good but there are some places in Japan that are cashless. Basically we need to prepare for both situations.
They weren’t giving out new Suica cards but there is a tourist version. For tourists with smartphones though, they’re usually not needed as they can be activated in the phone. Many have switched to that and don’t bring their card around anymore.
@@barrettish Thanks for the info. So my old suica card cannot be used anymore 😅 I think I still have some money left there 😂
I’m not sure actually… you can try! lol
As far as credit card is concerned, many banks in Asia including Japan, offer domestic card merchant accounts. Those are designed deliberately to not accept foreign cards. High merchant fee and fraud are the key reason why foreign credit cards are undesirable.
Interesting, thanks for the info! Is fraud more common with foreign cards?
You should mention that AE has foreign transaction fee
If by AE you mean American Express, it depends on the card the person has.
@ yup. I think many (not all) American Express card have foreign transaction fee. My experience is more VISA cards have zero fee, so I usually use those first if possible
@@jirojiro1029 It all depends on the card and the issuing bank. Most Visa card here has a 2.5% foreign transaction fee and that's why I mostly use cash or the Suica card (when possible).
I appreciate your post! My safepal wallet holds USDT and I’ve got the seed phrase (proof inner hobby bounce blouse able donate virtual luggage cart morning ticket). Could you explain how I can transfer it to Binance?
lol