Yen exchange and traveling

Before you leave to come to Okinawa Japan, you really don't need yen right away. Once you get to mainland Japan go to the exchange counter to change your currency to yen, it would be at a low rate, but its better than ordering it weeks in advance from a bank. Its best to carry dollars on you before you get on the plane! Also keep those pennies at home, here in Japan on the military bases they don't have pennies everything is rounded up.

Many places in Japan accept credit cards. And there are many places off base to exchange dollars to yen or yen to dollars. On base is always a lower rate than off base. Many places like Jusco or San-A have currency exchange machines but certain locations have different rates.

Jusco in Chatan is usually the local bank rate (open from 1000-2200 daily)
Jusco in Gushikawa is usually 2 - 3 yen lower
San-A in Hamby town usually 3-5 yen lower (open from 1000-1900)
Lucky LTD are higher yen rates than a bank, Jusco, San-A, and on base. Lucky LTD are the only one's I know that accept large exchanges over $1000.00 to yen or vis-versa.

Travelers Checks
Travelers checks, in yen or dollars, are a safe way of taking larger sums of money to Japan. However, they are not widely accepted in retail locations and must first be cashed at a bank, post office or major hotel. Interestingly enough, some banks offer a better exchange rate for travelers checks in U.S. dollars than they do for U.S. dollars in cash. Identification (Passport) is required to cash travelers checks.

Credit Cards
Credit cards can be used (where accepted) to make purchases at a fairly good exchange rate, but some cards will charge a percentage (usually 5%) of each transaction. Cash advances using credit cards should be avoided if possible, since cash advance fees are high and most credit card companies begin charging interest from the day of withdrawal (no grace period). Cash advances almost always require a pin number, which must be set up in advance.

ATM's
ATM's are perhaps the best option for getting yen. Although there are usually two service charges applied (one from the ATM and one from the card issuing institution), the exchange rate offered is usually quite close to the true (mid-market) exchange rate. To avoid multiple service charges, it is best to take out larger amounts each time. One important thing to note is that most ATM's in Japan are open only during regular banking hours, though in larger cities there has been a trend toward 24-hour ATM's.

Most stateside credit cards/debit cards will not work at Japan ATM's. You have to take money out on base.

To find the yen rate at military bank locations check out: http://dodcommunitybank.com/home/products/currency_exchange