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TD Canada Trust debit visa card & First class visa

Toronto, Canada
7 posts
TD Canada Trust debit visa card & First class visa

Hi All,

I am leaving to Japan for two weeks in a week. I am wondering how easy it is to use my TD bank cards there to make a purchase or withdraw cash? I have the TD first class visa and the debit card. I went to the branch today when exchanging Japanese Yen and was told that there is NO transaction fees if I make a purchase in Japan - is that true? The teller also said there will be a $10 transaction fee if I withdraw cash.

Then I called the TD hotline to confirm this info and was told that there is a 2.5% service charge on ATM and 3.5% on Visa. SO i am totally confused.

It will be great if someone have the experienced of using TD cards in Japan can help me out.

Thank you!

11 replies to this topic
Toronto, Canada
Level Contributor
12,190 posts
25 reviews
1. Re: TD Canada Trust debit visa card & First class visa

You can use your TD card at 7-11 bank machines (at 7-11 stores), Post Office ATMS and certain ATM"S at airport. There are some others.

As for fees in Japan, some are free, others have a small charge 108 yen or 216 yen. Then you have to pay exchange rate which TD will have some built in profit on.

I personally refuse to deal with TD--some of the fees depend on exactly what bank account you have with them. The ATM fee TD will charge is likely $5.00 not 10.00 plus whatever fee is added in Japan. There is always a spread between rates

Toronto, Canada
10 posts
2. Re: TD Canada Trust debit visa card & First class visa

I personally do not deal with TD bank Credit cards or debit cards. But I have checked with Scotia bank and HSBC bank, and both said the same thing, 2.5% transaction fee added to all foreign purchases on the credit cards. $ 5.00 service charge for each cash withdrawal made on the debit cards. Hopefully, this helps.

Toronto
Destination Expert
for Tokyo
Level Contributor
25,930 posts
30 reviews
3. Re: TD Canada Trust debit visa card & First class visa

Pretty standardized fees among the big banks.

There is no transaction fee using credit cards for purchases, anywhere in the world.

There is 2.5 % currency exchange fee for Visa purchases.

3 % currency exchange fee for ATM withdrawals with ATM / debit card, plus $5 per withdrawal, unless you have certain account. Likewise $0 per withdrawal with RBC(all-inclusive account), HSBC (Premier), ..., plus 3% currency exchange.

Using Visa to get cash from an ATM, 1% cash advance fee (maximum $10 in Canada, $5 elsewhere), plus $3 ATM fee, plus interest

All of these published on TD website.

I have TD Unlimited Account and pay $0 per withdrawal at ATM in Japan, plus 3% currency exchange.

Edited: 19 September 2018, 14:02
Toronto, Canada
7 posts
4. Re: TD Canada Trust debit visa card & First class visa

Thanks for the information!

I have read some of your earlier post and found them useful!

So the 2.5% transaction fee is built in into the conversion rate which is the same conversion rate I get if I go to a branch in Canada and exchange Yen?

Toronto, Canada
7 posts
5. Re: TD Canada Trust debit visa card & First class visa

Thanks bibimbob!

So is the 3% currency exchange fee going to be on top of the exchange rate TD offers?

Say if I can exchange at the TD branch today at the rate of 0.012, it will be another 3% on top of 0.012 if I withdraw in a ATM in Japan today?

This is where I am confused at.

THANK YOU

Toronto, Canada
Level Contributor
12,190 posts
25 reviews
6. Re: TD Canada Trust debit visa card & First class visa

You will not get Japanese yen cheaper at TD Bank in Canada than you will from ATM machine in Japan.

Remember, it costs the Canadian bank $$ to have foreign cash currency on hand. Frankly, rates change every day and you could win or lose more based on standard differences in exchange between for example today and a week from today.

If you absolutely must have a lot of cash , there are places in the GTA cheaper than the banks for foreign currency, but unless you are exchanging a lot of cash, say 5 to 10,000 CAD minimum, not really worth hunting them down

Toronto
Destination Expert
for Tokyo
Level Contributor
25,930 posts
30 reviews
7. Re: TD Canada Trust debit visa card & First class visa

>> You will not get Japanese yen cheaper at TD Bank in Canada than you will from ATM machine in Japan.

XE.com interbank rate .0115090

TD "order foreign currency online" .01195 (3.83% markup)

College Currency (Toronto downtown currency dealer) .01184 (2.87% markup)

ATM withdrawal in Japan 3% markup = .01185 , plus flat foreign ATM fee, if you don't have the right account

>> Say if I can exchange at the TD branch today at the rate of 0.012, it will be another 3% on top of 0.012 if I withdraw in a ATM in Japan today?

No. See example above.

Edited: 20 September 2018, 09:12
Phoenix, Arizona
Level Contributor
1,288 posts
6 reviews
8. Re: TD Canada Trust debit visa card & First class visa

And if you are going through LAX or other major airport, do NOT use the exchanges there unless you really need to. Recently coming back from Taiwan I found $NT3000 I had forgotten to exchange before I left. Was charged 6% + a $10 fee at LAX.

Toronto, Canada
7 posts
9. Re: TD Canada Trust debit visa card & First class visa

Thanks all for the info!

I work in DT Toronto so I found this currency dealer called Goldium who offered me a rate of 0.01172 which was way better than the banks and other currency dealers.

I exchanged enough for the trip if I do not go crazy shopping in Japan, but I will use my TD debit card at one of the ATMs in Japan to see what rate it is going to charge me at.

THANK YOU ALL!

Toronto, Canada
7 posts
10. Re: TD Canada Trust debit visa card & First class visa

Hi All,

I have come back from my trip and will want to provide some updates on the experience of using my TD debit card in Japan. So i ran out of cash eventho I exchanged enough before I left and I used an ATM machine in one of the local banks in Japan with my TD debit visa, the Jap bank charged me 216 yen( less than $3CAD) for service fees and TD converted Yen at 0.01181 and there was no service fees charged by TD cuz I had a premium account. The rate was not bad at all.

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