Cheapest way to convert Japanese Yen to US Dollars?
October 8, 2013 10:59 AM Subscribe
Someone is going to be sending me money - they live in Japan. What is the cheapest way to send the money? The amount is going to be somewhere between $1500-6000, probably closer to the 1500.
I have an account with xetrade and they have worked well in the past for UK/US money transfers but I notice that Japanese residents cannot sign up on that site. Where can I get the best rate possible?
I also have a forex account with my broker but 'hedging' is probably too complicated for this transfer unless someone here thinks differently.
I will also be visiting this person in December so there is the possibility they could give me some cash and I could convert once I reach the US again, although I'm sure there are limits on the amounts of money I can take overseas.
posted by locussst to work & money (5 answers total)