< Back What is the local currency? What denominations does it come in? What is the best way to exchange currency? What are commonly-used forms of payment for everyday purchases (such as groceries)? Will I be able to use my credit card around town? If not, list when I’ll need cash. By what method are bills (such as rent and utilities) paid? What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? Will foreign residents be able to find banking services in their native languages? Are there any restrictions on services for those who are new to your country? What are typical banking hours? Are automatic teller machines (ATMs) available around the clock? Is there any other money information that might help me? What is the local currency? Local currency is the U.S. dollar ($), which can be divided into 100 cents. ↑ Top What denominations does it come in? Coins (cents) come in denominations of one (penny), five (nickel), 10 (dime), 25 (quarter) 50 (half dollar) and 100 (silver dollar); the last two are rarely used. Bills (dollars) come in $1, $2 (rare), $5, $10, $20, $50 and $100. ↑ Top What is the best way to exchange currency? Typically, banks offer the best exchange rates, but you will also find that most airports and hotels offer currency exchange services. Additionally, there are also many licensed money changers and foreign exchange offices available throughout the city. ↑ Top What are commonly-used forms of payment for everyday purchases (such as groceries)? The most commonly used forms of payment are: Credit cards, debit cards, personal checks and cash. ↑ Top Will I be able to use my credit card around town? If not, list when I’ll need cash. Yes, credit and debit cards are widely accepted around the city. In some cases, you might find that smaller businesses only accept cash, so it is good practice to carry a small amount of cash with you. ↑ Top By what method are bills (such as rent and utilities) paid? Normally, bills are paid with checks. Increasingly, though, people in Austin are paying bills online using a credit or debit card. Some companies will also allow you to set up an automatic payment schedule using your credit card or bank account. You will need to verify the process with each company. ↑ Top What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? To open a bank account, you will need to show valid identification. Some banks could require that you show your Social Security card before you'll be able to open the account. It's wise to open an account as soon as possible, so that you can receive checks to begin paying bills. ↑ Top Will foreign residents be able to find banking services in their native languages? Yes, there are banks that offer services in languages other than English. Some ATMs also offer language options. You should confirm with your banking institution ahead of time. ↑ Top Are there any restrictions on services for those who are new to your country? Some loans may not be available to foreign transferees. ↑ Top What are typical banking hours? This varies with every institution, but most banks are open from 8 a.m., to 3 p.m., Monday through Friday. Some branches of major banks open for half the day on Saturdays, as well. Most Austin banks offer drive-through banking which usually opens earlier and close later than the bank's lobby. ↑ Top Are automatic teller machines (ATMs) available around the clock? Using the ATM at a bank with which you do not have an account will cost you a fee. This fee—which ranges from $1.25 to $2 per transaction--will go to both the bank hosting the ATM and your own bank. Before you begin your transaction, you will be advised of this and required to accept or decline the charges. Most major banks in Austin also offer Internet banking to their customers. ↑ Top Is there any other money information that might help me? Please contact your Crown representative if you have other questions. ↑ Top IMPORTANT NOTE: Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.