Why is the “low fee” often the expensive option?
Because the fee isn’t where the cost hides. Banks and airport booths advertise a small fee, then apply an exchange rate several percent worse than the real one. On a few hundred pounds that gap dwarfs the fee. Always compare against the mid-market rate, not the headline charge.
What’s the cheapest route in practice?
Send with a specialist that uses the mid-market rate, before you travel, then withdraw yen from ATMs in Japan as you go. That combination beats a bank wire and an airport counter almost every time, and it leaves you carrying cash where the countryside still needs it.
I use Wise for this and check the quoted rate against the mid-market rate (as of 2026-05) before sending.
| Route | Headline fee | Real rate | Verdict |
|---|---|---|---|
| Specialist transfer | Low | Mid-market | Best |
| Bank wire | Low–medium | Poor | Costly |
| Airport exchange | “None” | Worst | Avoid |