Make the Most of Your Overseas Trip by Exchanging Currency During a Strong Yen!
In July, the Bank of Japan decided to raise its policy interest rate to 0.25%. On July 3rd, the exchange rate hit a near 37 and a half year low of 161.90 yen to the dollar, but by September 4th, the yen had strengthened to around 145 yen to the dollar.
Exchanging 10,000 yen in July would have gotten you about 62 U.S. dollars, whereas in September, it would get you about 69 U.S. dollars. Exchanging currency when the yen is strong allows you to receive more foreign currency. However, when the yen weakens, the amount of foreign currency you can get decreases, which may cause some to hesitate about traveling abroad.
When traveling overseas, you might have to deal with unfamiliar local currencies, making it difficult to quickly understand how much each coin is worth and to make smooth payments. Recently, there has also been an increase in the number of stores that do not accept cash and in opportunities to use ride-hailing apps.
This time, we introduce the Sony Bank issued Visa debit card, “Sony Bank WALLET“, which can be used for shopping and dining payments just like in Japan, and also allows you to withdraw cash from overseas ATMs.
Use Your Stored Foreign Currency Directly and Withdraw Cash from Overseas ATMs!
The “Sony Bank WALLET” is a card that can be used at over 200 countries and regions worldwide Visa merchants. It allows you to use stored foreign currency in 10 different currencies including U.S. dollars, Euros, British pounds, Australian dollars, New Zealand dollars, Canadian dollars, Swiss francs, Hong Kong dollars, South African rand, and Swedish krona without unnecessary fees.
Dealing with foreign exchange rates can be a hassle when traveling abroad. You might want to prepare local currency with as little foreign exchange cost as possible, but exchanging currency at airports, hotels, or currency exchange offices can be high in exchange costs and take time and effort.
With “Sony Bank WALLET“, you can prepare local currency as a foreign currency deposit before traveling abroad at a favorable exchange rate, make payments at shops and restaurants directly from your foreign currency account, and keep unnecessary fees to a minimum.
Furthermore, if you need local currency, you can withdraw it from overseas ATMs featuring the “Visa” or “PLUS” mark, using the currency in your foreign currency deposit account, so you can rest assured even when visiting shops where cards are not accepted.
No Worries if You Run Out of Foreign Currency with ‘Assist from Yen’
Even if your foreign currency ordinary deposit account runs out of balance, it’s okay. The ‘Assist from Yen’ feature allows you to automatically convert from your yen ordinary deposit account, enabling cashless payments at stores and withdrawals of local currency from ATMs just like using yen in Japan.
Before traveling or studying abroad, it’s important to plan your finances locally, and ideally, purchase foreign currency when the exchange rates are in favor of the yen, to prepare the necessary funds locally. However, there might be times when your expenses unexpectedly increase. If you have a balance in your yen ordinary deposit account, automatically purchasing the required amount of foreign currency without additional fees and instantly applying it to payments can be very convenient.
The “Sony Bank WALLET“, which allows you to directly debit your local currency foreign currency deposits for shopping overseas and withdraw local currency when needed from overseas ATMs, is perfect for overseas travel. Don’t miss this opportunity to open a Sony Bank account and enjoy your trip abroad.
