What is the local currency? The Japanese yen. What denominations does it come in? Coins: 1, 5, 10, 50, 100, and 500 yen. Bills: 1,000, 2,000, 5,000, and 10,000 yen (Note: 2,000 yen note is not very common) Many vending machines accept notes as well as coins. What is the best way to exchange currency? Try the airport and banks. Hotels tend to charge a higher fee. What are commonly-used forms of payment for everyday purchases (such as groceries)? Cash and credit cards are both used. However, small restaurants and shops often do not accept credit cards. In addition, paper checks are not used. Will I be able to use my credit card around town? If not, list when I’ll need cash. Always carry cash. You will use it for transportation, local shops and medical facilities. Department stores and some restaurants accept credit cards. It is recommended that upon moving to Japan, you apply for a Visa or American Express card from a Japanese bank. By what method are bills (such as rent and utilities) paid? Direct debit bank transfers are often used. Utility bills can also be paid at convenience stores such as 7-11 and Lawsons. What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? For local banks, a home address is needed to open an account. Citibank is popular with foreigners for multiple currency accounts. Keep in mind that a working visa is required to open an account at Citibank. Will foreign residents be able to find banking services in their native languages? Yes. Citibank, UFJ Bank and Mitsui-Sumitomo all have English-speaking staff available. However, not all Japanese banks will have an English speaker. Are there any restrictions on services for those who are new to your country? There are no checking accounts. What are typical banking hours? 9 a.m. to 5 p.m. After these hours, you can use ATM machines at convenience stores. Are automatic teller machines (ATMs) available around the clock? Not all bank ATMs are available 24 hours a day. Is there any other money information that might help me? Always carry cash in Japan. IMPORTANT NOTE: Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.