Better Rates than Airports and Banks: A Detailed Guide to MoneyBank’s Foreign Currency Exchange Services

• This article is for reference only as it is merely a translated version of the Japanese article below.
  【空港・銀行よりもお得】外貨両替マネーバンクのサービス内容を解説 (Japanese version)

MoneyBank offers foreign currency exchange services with better rates compared to airports and banks.

This article provides a comprehensive explanation of MoneyBank’s services for those looking to exchange JPY into foreign currency.

This information is based on data as of June 2023.

MoneyBank’s Foreign Currency Delivery Service

MoneyBank’s foreign currency exchange service is operated by Star Capital Co., Ltd.

It allows customers to receive foreign currency at their home or apartment without having to visit an airport or bank.

Comparison of Exchange Rates: Banks, Airports, and Other Providers

Here is a comparison of the exchange rates offered by MoneyBank and its competitors.

Comparison Targets

• MoneyBank
• Mizuho Bank
• Mitsubishi UFJ Bank
• GPA Foreign Currency Exchange Specialist (Narita Airport Group)
• Foreign Currency Exchange Dollar Euro (competing delivery service)

The lower the numbers in the table, the less cost is incurred for the exchange.

Foreign Currency Exchange Rate Comparison Table

Among the 17 currencies compared, MoneyBank offers the most favorable rates for 10 of them.

When comparing the costs by service type, foreign currency delivery services generally offer better rates.

What is “Out of Stock”?

• “Out of Stock” refers to a temporary situation where MoneyBank does not have the desired foreign currency in inventory.

In such cases, the currency can usually be purchased within a few days to a week.

Currency Exchange Simulation

A simulation for exchanging JPY to USD is shown below.

Amount of JPY required to receive 1,000 USD

• MoneyBank: 144,000 JPY
• Mizuho Bank: 144,660 JPY
• Mitsubishi UFJ Bank: 144,450 JPY
• GPA (Narita Airport): 144,360 JPY
• Foreign Currency Exchange Dollar Euro: 144,440 JPY

To obtain 1,000 USD, MoneyBank allows for an exchange at a cost of 660 JPY less than Mizuho Bank.

＼ Better Rates than Airports and Banks! ／

Reasons Why MoneyBank’s Foreign Currency Exchange is Cost-Effective

MoneyBank offers favorable exchange rates for two primary reasons.

Why MoneyBank’s Exchange Rates are Favorable

• No costs for land, rent, or similar expenses.
• Reduced personnel costs.

MoneyBank operates without physical stores, so it does not incur fixed costs like rent or utility expenses.

Additionally, since face-to-face transactions are unnecessary, personnel costs are also minimized.

These factors contribute to MoneyBank’s ability to offer advantageous exchange rates.

Service Details: MoneyBank Foreign Currency Exchange

Currencies Available

MoneyBank offers exchange services for 17 different currencies.

Currencies Handled by MoneyBank

• USD (US Dollar)
• EUR (Euro)
• GBP (British Pound)
• CNY (Chinese Yuan)
• KRW (South Korean Won)
• AUD (Australian Dollar)
• NZD (New Zealand Dollar)
• CAD (Canadian Dollar)
• HKD (Hong Kong Dollar)
• SGD (Singapore Dollar)
• THB (Thai Baht)
• TWD (Taiwan Dollar)
• CHF (Swiss Franc)
• IDR (Indonesian Rupiah)
• PHP (Philippine Peso)
• MYR (Malaysian Ringgit)
• VND (Vietnamese Dong)

Exchange Amount Limits

Minimum Amount

The minimum exchange amount is 70,000 JPY for all currencies.

Maximum Amount

The maximum exchange amount varies depending on the currency.

Transactions Exceeding 2 Million JPY

If exchanging multiple currencies results in a total exceeding 2 million JPY, it is necessary to contact MoneyBank.

Handling of Coins

MoneyBank does not handle coins.

Specification of Banknote Denominations

Customers cannot specify the number of banknotes when exchanging.

However, MoneyBank includes small denominations, which are convenient for travel, business trips, and studying abroad, ensuring a user-friendly experience.

The combination of banknotes can be confirmed on the application form screen (detailed later).

Service Hours

The service hours for foreign currency sales (JPY to foreign currency) are from 8:00 AM to 10:00 PM.

Payment Methods

The only accepted payment method is bank transfer (Rakuten Bank).

The transfer fee is the responsibility of the purchaser.

Payment Deadlines

• Applications made between 12:00 AM and 10:00 AM on weekdays: Payment must be completed by 2:00 PM on the same day.
• Applications made between 10:00 AM and 12:00 AM on weekdays: Payment must be completed by 2:00 PM on the next business day.
• Applications made on weekends or holidays: Payment must be completed by 2:00 PM on the next business day.

Note: If MoneyBank is closed (e.g., during the Obon season or New Year holidays), the application will be treated as if made on a holiday.

If the payment deadline is missed, the application will be automatically canceled.

Methods of Receiving Currency

There are two methods to receive foreign currency:

1. Delivery (Delivery Time)

Delivery service is available throughout Japan.

The delivery time varies depending on whether standard or express delivery is selected, but typically, the currency arrives within two days.

Standard Mail

Express Mail (+500 JPY)

2. Airport Post Office

You can also pick up foreign currency at the airport post office.

The holding period is 10 days from the time the foreign currency arrives at the airport post office. (No arrival notification will be sent.)

Contact Method

Inquiries can be made via the contact form.

As of June 21, 2023, phone inquiries are temporarily suspended.

Recommended for: Foreign Currency Exchange Money Bank

There are three key characteristics of people who may find Foreign Currency Exchange Money Bank a highly recommended service.

Want to Save on Exchange Fees

Foreign Currency Exchange Money Bank offers more favorable rates than airports or banks for purchasing foreign currency.

It is recommended for those looking to exchange currency at a lower cost.

No Time to Visit a Store

Delivery service is available nationwide in Japan.

Since there is no need to visit a physical store, it is ideal for those who don’t have time to stop by a currency exchange location.

Don’t Want to Wait in Line at Exchange Counters

During busy seasons, airport currency exchange counters may have long waiting times.

This service is perfect for those who wish to avoid the crowds at exchange counters.

Application Procedure: Foreign Currency Exchange Money Bank

New Registration (Optional)

Registering as a new user will save time by reducing the amount of information required for future applications.

To register, click on “Register and Apply.”

If opting not to register, click on “Apply without Registering” and proceed to the “Transaction Information Input” section.

Enter personal information, agree to the terms and conditions, and click “Confirm.”

Check the entered details and click “Register.”

A confirmation email for the membership registration will be sent to the registered email address.

If the email is not received, refer to the FAQ section titled “I applied, but haven’t received an email.”

Click on the URL provided in the email.

Enter the registered email address and password, then click “Login.”

Click “Buy Foreign Currency.”

Transaction Information Input

Enter transaction information, check the required boxes for important notices, and click “Next.”

Basic Information Input

Input basic information, agree to the terms and conditions, and click “Confirm Input.”

Confirmation of Input Details

The entered information will be displayed.

On this page, you can check the denomination of the banknotes. Click “Submit Application with the Above Details” to complete the process.

Summary of This Article

The features of Foreign Currency Exchange Money Bank have been explained. Here is a summary of this article:

• The main reason for its affordability is the absence of store overhead and reduced labor costs.
• It handles 17 different currencies.
• The minimum transaction amount is 70,000 JPY.
• The maximum transaction amount is 1,000,000 JPY.
• It is not possible to specify the number of banknotes for exchange.
• The service is available from 8:00 AM to 10:00 PM.
• Payment is made via bank transfer.
• Currency can be received via home delivery or at airport post offices.
• It is recommended for those who want to save on exchange fees, have no time to visit a store, or don’t want to wait in line at exchange counters.
• Applications can be made online.

＼ More Affordable Than Airports and Banks! ／