Japan is a cash society; however, credit and debit cards are accepted in most places in Japanese cities. Establishments such local restaurants, markets and rural inns (ryokans) are cash only.
A Few Final Notes and Links
While credit cards are become more widely accepted in Japan, cash is still king in Japan. Don't assume that you can use a credit card in small stores, restaurants and accommodations, particularly “mom and pop” places. Always carry sufficient Japanese cash as a backup.
Japan is a cash society, but credit cards and debit cards are accepted in most places in Japanese cities. Establishments such as local restaurants, markets and rural inns (ryokans) are cash-only. In the places where you can use your card, you may have issues if your card doesn't have your name on the front.
Since Japan is still predominantly a cash-based society, it's important to always have some notes and coins on hand. You can take Aussie dollars from home to Japan, but you'll be limited to where you can exchange the currency on arrival.
While there are ATMs all over Japan, not all of them accept foreign cards which makes it sometimes hard to make withdrawals. Also keep in mind that most banks will charge a foreign transaction fee if you're using your Australian debit card.
Assessing the reasons why Japanese consumers prefer cash, Statista notes its security and reliability are highly valued. Over 55 percent of respondents cited concerns over personal information leakage as being a major drawback of cashless options.
For example, if you are traveling from the U.S., wait to exchange your dollars for yen until you have arrived in Japan. However, you will get the most favorable rates for yen in Southeast Asian countries rather than in Japan.
While 36% of consumption in cash-loving Japan was covered by these payments last year, the share remains below that of Western markets, where the cashless ratio hovers around 60%. But Japan's usage rate continues to climb.
You will not get significantly better rates at money exchangers in Japan. The rates for exchanging Australian Dollars (or in fact anything other than US Dollars or Euros) are much worse in Japan than Australia. Expect 10-12% off the xe.com spot rate for Australian cash. Note that you can't just use any ATM you find.
What was the last thing you paid for with cash? Chances are most of your purchases are done digitally. Most transactions in Australia are carried out electronically using tools such as tap and go, bank transfer, direct debit or credit facilities.
Sweden is also one of the few countries where vendors can legally refuse to accept cash as payment. Many commentators believe Sweden will be the world's first fully-cashless society and that it could happen as soon as March 2023!
There's no paywave in Japan (so please, don't forget your wallet) | escape.com.au.
Although you can convert Australian dollars to Japanese yen in Japan, it's generally cheaper to do it at home in Australia before you leave, where you are likely to get better exchange rates.
$1000 should be sufficient, but you must be strict with yourself. $50 a day just about creeps overbudget. I think you should set yourself about $30 a day and maybe sometimes jump up to $50/60 if you wanna try something. Don't worry too much.
How much money should I bring to Japan for 2 weeks? A good rule of thumb is to have about 10,000 to 20,000 yen with you in cash at all times. For 2 weeks, 100,000 yen (£650, $780) was plenty cash for us. Most shops and restaurants now accept cards in Japan.
Japanese people's fear of fraud keeps credit card usage from being the main channel of payment when making purchases. Many of them are afraid of credit card scams and are hesitant to use them unless they are required to.
Credit cards were the most used cashless means of payment in Japan, according to a survey conducted from February to March 2023. Around 68.2 percent of the respondents stated that they used credit cards in their daily lives, while 8.7 percent only used cash.
Using debit cards overseas
They are widely accepted. Use your debit cards to pay in-store and withdraw cash using your Debit Mastercard (look for the Mastercard symbol) or Keycard (look for the Cirrus symbol) to withdraw up to the equivalent of $2,000 AUD a day in local currency.
Japanese Coins and Notes
While major cities like Tokyo and Osaka accept foreign cards, most establishments around Japan (including accommodations, restaurants, and shopping centres) prefer cash. Your may enjoy smoother travels around Japan if you have both cash and card on hand.
Using a mix of travel money options
Many travellers visiting Japan opt for a combination of traveller's cheques and debit, credit, and travel cards. Debit and travel cards are a good way to pay for your everyday spending, while credit cards can be used for deposits, big purchases and emergency situations.
Australia is heading towards becoming a cashless society, with cash expected to make up just 10 per cent of all transactions by 2025. The prediction comes from market consultant Lance Blockley, who says the pandemic has sped up the shift to cashless payments.