|
Buying merchandise from Japan paying with Japanese Yen - Best Exchange Rate?
02-13-2017, 06:56 PM
|
#1
|
Recycles dryer sheets
Join Date: Sep 2007
Posts: 464
|
Buying merchandise from Japan paying with Japanese Yen - Best Exchange Rate?
Trying to buy an item through a shopping service from Japan , seller and agent want to be paid in their currency. Total value around $20,000.
Wells Fargo rate is 109 to $1
Fidelity Investments rate is 110.33 to $1
Visa Credit Card rate is 113.7 to $1 (through their website)
Unfortunately I can't pay with Visa card without being there myself.
Suggestions?
MP
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
02-13-2017, 07:17 PM
|
#2
|
Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,509
|
why would you have to be there? I've set up trips and paid places in other countries using my credit card. This includes Japan -- I admit it was some time ago.
the visa rate looks like the present exchange rate. Usually their rate is one of the best, but is often as some offset so they make money both ways.
I've also done it buy using forex at fidelity and then wiring the money to the appropriate bank and account. Again, long ago.
|
|
|
02-13-2017, 07:45 PM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Aug 2014
Location: Chicago West Burbs
Posts: 2,996
|
Current conversion rate tonight is 113.748.
Are you cure there won't be any duty added?
|
|
|
02-13-2017, 09:54 PM
|
#4
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,972
|
If you could pay with a CC , and had one that had zero foreign transaction fee, you could save $600
When I just signed up for Barclay Credit card which has zero foreign transaction fee, during the process it asked if I wanted expedited delivery of the card, for only $15. vs normal wait of 7 days.
https://home.barclaycardus.com/cards...astercard.html
|
|
|
02-14-2017, 10:51 AM
|
#5
|
Recycles dryer sheets
Join Date: Sep 2007
Posts: 464
|
I think I received wrong information from Fidelity yesterday.
Talked to their international department this morning, I can convert the currency myself with my brokerage account. The fee is 1% from the published rate. For example, on XE.com, the rate shows 114.40 JPY to 1$, I will get 113.256 yen for every dollar I convert. This is better than Wells Fargo that charges about 3%. A 1% charge is not too bad.
|
|
|
02-14-2017, 04:07 PM
|
#6
|
Thinks s/he gets paid by the post
Join Date: Dec 2014
Posts: 2,509
|
when I did it I did not just ask fidelity to convert it, but bought yen using forex trading and had it put in my account. I then had it wired to a back. As least that is what I think I did. It was over a decade ago.
so could you do forex trading and then take receipt of you yen? you may need to enable it.
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|