< 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, cash and personal checks. ↑ 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. You might find that some smaller businesses only accept cash so; it is recommended that you carry a small amount of cash with you. ↑ Top By what method are bills (such as rent and utilities) paid? This varies depending on the company, but bills are typically paid with a check sent via mail. Increasingly though, people pay their bills on line using a credit or debit card. Some companies will also allow you to set up an automatic payment schedule which will debit your bank account on a pre-set date. ↑ Top What are the requirements for opening a bank account? At what stage of the settling-in process should I open it? Crown New York can assist you with setting up your bank account even before you arrive. Please contact Crown as soon as you make the decision to come. You will normally be required to have two forms of ID, a utility bill showing your address in the U .S, and small amount money to make your first deposit. ↑ Top Will foreign residents be able to find banking services in their native languages? Most banking services will be conducted in English, however, some international banks have ATMs and account executives equipped to provide services in other languages (mainly Spanish and some Asian languages). ↑ Top Are there any restrictions on services for those who are new to your country? Some banks may require your Social Security number for opening a bank account. All will require a permanent address in the U.S. ↑ Top What are typical banking hours? It varies with each institution, but most banks are open from 8 a.m., to 3 p.m., Monday to Friday. Some branches of major banks are open for part of the day on Saturday and even Sunday. ↑ Top Are automatic teller machines (ATMs) available around the clock? Yes. However, you will be charged a small fee for using an ATM at a bank with which you do not hold an account. This fee--which is usually between one and two dollars 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. ↑ Top Is there any other money information that might help me? Please contact Crown New York for further details. ↑ 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.