Interest in overseas travel has been on the rise since Japan’s border measures against COVID-19 ended at the end of April 2023. According to a survey by Sony Bank, a total of 62.6% of respondents in 2023 are planning or intend to travel abroad.
Utilize Miles for Overseas Travel Especially When Travel Costs are High!
Many may be worried about the cost of travelling overseas due to global inflation and the historically weak yen in 2024. While accumulating points through reservation sites and partner store payments is one method to save on travel expenses, it’s often mentioned that acquiring enough points for a trip is challenging.
Using miles for airplane tickets as a cost-saving measure is popular, but generally accumulating enough miles for international flights requires frequent flying or large credit card payments.
This article introduces a new way to efficiently earn miles without the need for frequent flight travels or big spending, and how to use local currency overseas without unnecessary expenses.
Accumulate Miles Surprisingly Fast with “ANA Mile Linked Foreign Currency Time Deposits” in Just 5 Minutes!
Earning miles through “regular banking transactions” is gaining attention as a new method.
Amid growing interest in asset formation and management, many are using foreign currency savings and investment trusts through banks. The “ANA Mile Linked Foreign Currency Time Deposits” offered by Sony Bank enables customers to earn a significant amount of miles just by keeping their assets in the bank. Eligible only for holders of the ANA Mileage Club / Sony Bank WALLET Visa debit card, customers can earn miles at the end of the term simply by choosing their preferred currency and period. While there is a risk of loss due to fluctuating exchange rates, profits can be made when the yen weakens against your foreign currency. Procedures for deposits are simple, and can be done through a smartphone in your spare time. This allows for mileage accumulation without the need for regular flights or large credit transactions.
The ANA Mileage Club / Sony Bank WALLET is free to hold and allows you to consolidate miles earned from an ANA credit card into one account, making it efficient to collect miles.
Use Accumulated Miles for an Annual Trip to Hawaii!
For an ANA international round-trip ticket to Hawaii, you will need 40,000 miles for economy and 58,000 for premium economy (based on regular season, per person). For those curious about how many miles can be accumulated with the ANA Mileage Club / Sony Bank WALLET, here are some ways to do so.
(1) ANA Mile Linked Foreign Currency Time Deposits Exclusive to ANA Mileage Club / Sony Bank WALLET holders, the amount of miles earned depends on the currency and period of deposit.
For example, depositing 2.5 million yen worth of US dollars for one year can accumulate 56,248 miles (as of June 2024).
(2) Foreign Currency Deposits and Investment Trust Balances Miles can also be earned based on the balance of foreign currency deposits and investment trusts at the end of each month (up to 4,800 miles annually). For instance, maintaining a balance of 5 million yen throughout 12 months can accumulate 1,800 miles per year.
(3) Domestic Shopping with Card Domestic shopping also earns you 5 miles per 1,000 yen spent, allowing for mileage accumulation even for small payments (up to 40,000 miles annually). For instance, shopping for 100,000 yen per month can earn you 500 miles, accumulating to 6,000 miles in a year.
Adding these up, you can accumulate 62,360 miles in a year – enough for a round trip to Hawaii (40,000 miles for economy, regular season) and even a trip to Okinawa (18,000 miles, regular season), making your travels more enjoyable.
Use Accumulated Foreign Currency Directly Overseas and Withdraw From ATMs!
The ANA Mileage Club / Sony Bank WALLET can be used for shopping at over 200 countries and regions’ Visa merchants. If using one of the target ten currencies, accumulated foreign currency can be used directly without any unnecessary fees.
When preparing for overseas travel, converting local currency through Sony Bank can save on exchange costs compared to traditional methods, including airports and hotels. This convenience extends to shopping and restaurant payments, directly drawing from your foreign currency account, minimizing unnecessary fees. Additionally, you can save the effort and time normally spent searching for exchange centers.
When Using Miles for Award Tickets, Each Mile Can Be Worth More Than 9 Yen!
Among those who have travelled overseas recently, 21.0% used miles, and 36% plan to use them for future travel. Those who used miles for their most recent trip felt that each mile was worth an average of 9.4 yen.
Furthermore, it was clear that those who use miles tend to have higher financial satisfaction with their travels.
Although exchanging miles for allied points generally equates to 1 mile = 1 point, converting them to award tickets significantly increases their value. Despite inflation and a weak yen, wisely using miles can make traveling more affordable.
