Understanding JCB Exchange Rates and Fees: A Credit Card Comparison

• This article is for reference only as it is merely a translated version of the Japanese article below.
  JCBの為替レートや手数料をわかりやすく解説｜クレジットカード比較 (Japanese version)

“Interested in knowing how JCB exchange rates compare?”

“Which card has the lowest fees for international use?”

For those who travel abroad frequently, these questions might sound familiar.

Using credit or debit cards overseas involves dealing with exchange rates and additional fees, leading to uncertainty about how much will be charged in JPY.

International brands like JCB and Visa set their own standard rates, which are updated daily for each currency, so it’s crucial to pay attention.

This article explains JCB’s exchange rates and the timing of their application, and presents research on the most advantageous international brands for each currency.

If you often use credit or debit cards abroad or want to minimize fees, this guide is essential.

What is JCB’s Exchange Rate?

JCB’s exchange rate refers to the ‘standard rate’ set by JCB for each currency on a daily basis and updated once each day.

The difference between the market (forex) rate and JCB’s rate is as follows:

JCB publishes its exchange rate (standard rate) on its official website.

The section “How to Check JCB’s Exchange Rate (Today and Historical)” will provide detailed explanations later in the article.

What are JCB Exchange Fees?

When using a JCB credit or debit card abroad, transactions are generally settled in the local currency, and the billing later arrives converted into JPY.

The billed amount in JPY includes the actual transaction amount plus an “exchange fee.”

The exchange fee consists of two components: the “exchange rate fee” and the “international service fee.”

The international service fee varies depending on the combination of the international brand and the credit card, and is not uniform.

For an example of international service fees based on different international brand and credit card combinations, please refer to the table below.

If you wish to save on international service fees when using a credit or debit card abroad, it is advisable to thoroughly check before issuing the card.

When Do Exchange Rates Apply to Credit Cards like JCB?

Exchange rates for credit and debit cards, including JCB, are applied when the transaction data reaches the payment center of the respective international brand.

It’s important to remember that the rate is not based on the day of the transaction but rather when the data is processed, which usually takes about 2-4 days, although it can take longer depending on the circumstances.

If there is a difference between the rate on the day of the transaction and the day it reaches the payment center, this can lead to discrepancies in the amount when converted to JPY.

For those who wish to confirm the exact amount billed in JPY, it’s advisable to check the transaction details.

How to Check JCB’s Exchange Rate (Today and Historical)

As previously mentioned, JCB’s exchange rate (standard rate) can be checked on the official website, and historical rates are also available.

This section will explain how to verify JCB’s exchange rate and how to calculate an estimate of the transaction amount.

JCB’s Exchange Rate is Published Daily

JCB’s exchange rate (standard rate) can be viewed under “Standard Rates for Transactions Overseas” on the official website.

The standard rate is published, allowing you to calculate an estimate of the amount used abroad yourself.

It is important to note that amounts are rounded down to two decimal places and the exact day the transaction data reaches the settlement center is not known, so the calculated amount is only an estimate.

For the calculation method, please refer to the section “How to Calculate and Verify Using JCB’s Exchange Rate” explained later.

Other international brands like Visa and Mastercard do not publish their exchange rates, and their rates must be calculated to be understood.

Historical Exchange Rates Are Also Available

JCB allows for the verification of past exchange rates (standard rates).

From the “Base rate” page on the official website, you can check the standard rates for the past three months.

However, it is important to note that the rates are based on the US Dollar.

When you want to find the standard rate for JPY, look for “JPY” and the number to the left of “Sell” will be the standard rate.

Calculating and Verifying JCB Exchange Rates

To estimate the transaction amount using JCB’s exchange rate (standard rate), use a calculator with the following formula:

[Transaction Amount] × [International Service Fee] × [JCB Standard Rate]

As previously explained, the international service fee varies by credit card and debit card brand, and needs to be researched.

For example, let’s calculate the JPY amount for a transaction of 1,000 USD made with a JCB Rakuten card in Hawaii on October 3, 2023:

1,000 USD × 1.63% (overseas service fee for Rakuten card) × 150.08 (JCB standard rate) = approximately 152,526 JPY

At the time of writing, the market exchange rate* for USD is 149.68 JPY, which results in a fee of about 2,846 JPY for a transaction of 1,000 USD.

*Market rate: The exchange rate shown when searching “1 USD to JPY” on Google.

For those who want to know the exact amount and day the standard rate was applied, check “MyJCB” or the transaction details.

JCB, Visa, Mastercard | Credit Card Exchange Rate Comparison Choose the Most Advantageous International Brand for Each Currency

As mentioned earlier, the amounts charged on credit and debit cards used abroad include an exchange rate (standard rate) added by each international brand.

However, it is difficult to understand and compare the standard rates of Visa and Mastercard without performing specific calculations.

Therefore, an investigation was conducted into the exchange rates by each international brand and currency, and a comparison table has been created.

Please refer to the table below for the results.

Exchange Fees (Spread) When Paying in JPY for Transactions Made in Foreign Currency

According to the research, the following are the currencies where JCB offers the most advantageous rates:

• United States Dollar (USD)
• Euro (EUR)
• South Korean Won (KRW)
• Australian Dollar (AUD)
• Singapore Dollar (SGD)
• Thai Baht (THB)

JCB, a Japanese international brand, can be used without issues in popular destinations for Japanese travelers such as Hawaii, Guam, South Korea, and Taiwan.

However, it is important to note that JCB has fewer member stores compared to Visa and Mastercard, so caution is advised when using it abroad.

Use the results of this investigation to select the most suitable and advantageous credit or debit card for yourself.

For those interested in recommended cards for use abroad, please refer to the following article.

• Credit card
  【Recommended for International Travel】Top 7 Credit Cards | Fee & Reward Rate Comparison
• Debit Card
  Top 3 Recommended Debit Cards for Use Abroad | Comprehensive Explanation of Fees and Benefits

Frequently Asked Questions About JCB Exchange Rates

We have compiled a list of frequently asked questions about JCB exchange rates.

If you have any concerns or questions, please use this information as a reference.

Is there a way to check or find out the exchange rates for Visa and Mastercard?

The methods to check and find out the exchange rates for Visa and Mastercard are detailed in the following article.

• Thorough Explanation of Visa Exchange Rates: A Survey on the Most Cost-Effective Credit and Debit Cards for Each Currency
• Explaining Mastercard Exchange Rates and Fees

You can easily find out using a converter (automatic calculator), so please refer to it.

What are the Fees for USD Transactions with JCB Cards?

The fees for transacting in USD with JCB cards include two components: the international service fee and the JCB standard rate (exchange rate fee).

The international service fee depends on the combination of the card and the international brand.

For instance, as of October 6, 2023, the fee for a transaction of 100 USD with a JCB Rakuten card would be calculated as follows:

100 USD × 1.63% (overseas service fee) × 148.71 (JCB standard rate) = approximately 15,113 JPY

Comparing this with the market rate, where 100 USD equals 14,891 JPY, the fee would be approximately 222 JPY.

How Much are the Exchange Rate and Fees for Rakuten Card?

The fees for foreign currency transactions with Rakuten Card include the international service fee and the standard rate set by the respective international brand.

The overseas service fee for JCB, Visa, and Mastercard is consistently 1.63%.

The JCB standard rate is updated daily, and as of October 6, 2023, the standard rate for USD is 148.71. Visa and Mastercard rates are also set daily but are not publicly disclosed.

For those who want to check the Visa or Mastercard standard rates or estimate transaction amounts, please consider the following resource:

“Is there a way to check or find out the exchange rates for Visa or Mastercard?“

Conclusion: Understand JCB’s Exchange Rates to Choose the Right Credit Card

This article has discussed JCB’s exchange rates, fees, and the timing of their application, along with a thorough investigation into the most cost-effective international brands per currency.

JCB’s standard exchange rate is updated daily and can be checked on their official website.

When using a credit or debit card internationally, the transaction is calculated based on the standard rate at the time it reaches the payment center.

The most beneficial card varies by international brand and currency, so use this article to select the best card for your needs.

Whether traveling abroad, working, or studying overseas, use this information to enjoy shopping and dining without unnecessary fees.

• Credit card
  【Recommended for International Travel】Top 7 Credit Cards | Fee & Reward Rate Comparison
• Debit Card
  Top 3 Recommended Debit Cards for Use Abroad | Comprehensive Explanation of Fees and Benefits