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How much in Traveler's Checks should I bring to Japan for a one year study abroad?

• Hello, I will be doing a study abroad program in Japan for one year starting the end of this month. I will be paying for it with financial aid, but most of that won't be direct deposited into my US bank account until the semester starts. In the meantime, I have a $5000 scholarship already deposited into my bank account. I was told I should bring traveler's checks with me to Japan, but I don't know how much of that $5000 I should bring in traveler's checks and how much I should leave in my bank account and try to withdraw through an atm or something. In September, when the the rest of my aid comes through, I imagine I will have to transfer that money to a bank account I will open in Japan, but I am not sure how to transfer that money when I will already be outside of the US. Can I do that through online banking? Also, how much of the traveler's checks should I exchange at the airport and where is the best place to exchange the rest of them? I will need to pay rent and transportation upon arrival. Thanks for any advice anyone can give me. I have never traveled outside of the country before and I feel like I have no idea what I am doing.

• Answer:

  If you have an ATM card you can withdrawal money at international ATMs in Japan. International ATMs can be found at the Post Office, Citibank Branches, and 7-11 stores. Note that your bank usually has a daily withdrawal limit so you can only take out a certain amount of money each day. Contact your bank to find out what the limit might be for international withdrawals. International wire transfers are a bit more difficult depending on what bank you have, for example Bank of America does not do online international wire transfers. Before I had a job in Japan I had to get money from from my US account, so what I did was take a large amount of cash with me at first to set things up, then I just withdrew money with my ATM card. So what I would do is take as much as you need in traveler's check to cover your first month, you can exchange at the airport exchange office to JPY in cash. It is generally safe to carry around large cash with you, just keep it secured place. The rest you can use your ATM card and withdrawal when needed. Remember you have a daily limit on ATM withdrawals so you won't be able to get 5000USD all in one day. Also contact your bank to see how International wire transfers work when you are not in the US. Luckily for me, all I did was transfer the money to a relative in the US, (from my US account) and my relative went to the bank and did the wire transfer (in the US) from their account. Maybe that is something you can set up with your parents. When your money arrives, do a domestic transfer online to their account, then they do a international wire transfer to your Japanese account. Again each bank has different procedures so check with the bank. Any case for the first month, take as much as you think you will need and transfer it at the airport office.