Where to exchange currency in NYC: Best exchange offices & tips

Send money abroad

Written by BOSS Money Content Team

August 03, 2026 • 8 min read

New York City welcomes millions of tourists¹, international students, expats, business travelers, and immigrants every year. In fact, the five boroughs attracted more than 64 million visitors in 2025² alone. This makes it one of the world’s busiest travel destinations.

Finding the right place for currency exchange in NYC can save you more money than you might expect. Some exchange offices offer fair rates and clear pricing. While others make money through hidden markups or extra fees. Knowing the difference helps you keep more of your money for shopping, dining, sightseeing, or your next trip.

This article explains where to exchange currency in NYC, how exchange rates work, when to use banks or ATMs, and how to avoid common mistakes.

What to know before exchanging currency in NYC

Before you visit any NYC currency exchange office, it helps to understand a few simple terms. They can make a big difference to how much money you receive.

Exchange rate

The exchange rate tells you how much one currency is worth compared to another. For example, it shows how many US dollars you receive for one euro or one British pound.

Exchange rates³ change throughout the day because currencies are traded around the world.

Mid-market rate

The mid-market rate is the real exchange rate used between banks. It is often called the "market rate" or "interbank rate."

You can check the current mid-market rate online before exchanging money. It gives you a good idea of what a fair rate looks like.

No exchange office will usually offer the exact mid-market rate because they need to earn money. However, the closer they are to it, the better the deal is for you.

Service fee

Some exchange offices charge a service fee for every transaction. For example:

Flat fee of $5 or $15
Percentage fee⁴ based on the amount exchanged

Always ask about service fees before handing over your money.

Hidden markup

A hidden markup is one of the most common ways exchange offices earn money. Instead of charging a visible fee, they simply offer you a worse exchange rate.

For instance, if the market rate is 1 euro = $1.17, an exchange office might offer only $1.12. That difference is their profit.

This hidden cost is often much higher than a small service fee.

Commission

Commission is another charge some businesses add when exchanging currency. It may be:

A percentage of the total amount
A fixed amount

Some offices advertise "No Commission." It often sounds great – but it does not always mean you're getting the best deal.

Buy vs. sell rates

Exchange offices usually display two prices.

Buy rate: The office buys your foreign currency.
Sell rate: The office sells foreign currency to customers.

These rates are different because the business makes money from the gap between them.

"No Commission" vs. "Good Exchange Rate"

This is where many travelers lose money. Imagine two exchange offices.

Office A: No commission and poor exchange rate
Office B: Small $5 fee and better exchange rate

Even after paying the $5 fee, Office B could leave you with more money. That is why you should always compare the final amount you receive, not just whether commission is charged.

Best places to exchange currency in NYC

If you're wondering about the best currency exchange in NYC, you'll find several reliable options across Manhattan and other boroughs. Each one has different strengths depending on your needs.

Exchange Office	Area	Pros	Cons
Currency Exchange International (CXI)	Midtown, Upper East Side and other locations	Many currencies, transparent pricing, online rate reservations	Rates vary by location
UNO Forex	Midtown Manhattan	Competitive rates, tourist-friendly	May have waiting times during busy periods
A&S Foreign Exchange	Midtown Manhattan	Often praised for competitive exchange rates	Smaller network of locations
Chase (customers)	Various NYC branches	Convenient for account holders	Limited currency availability for non-customers
Citibank	Multiple branches	Trusted bank, secure transactions	Exchange services may be limited
TD Bank	Throughout NYC	Good option for existing customers	Not every branch stocks foreign currency
HSBC	Selected branches	International banking experience	Services depend on branch
Travelex	Airports and city locations	Easy to find, many currencies	Rates and fees are often less competitive

The best money exchange in NYC depends on what matters most to you. If you want convenience, banks may be enough. However, if you want access to many currencies, a specialist exchange office often gives you more choices.

Before you exchange, compare rates online or call ahead if possible.

Should you exchange money at JFK Airport?

In most cases, no. Airport exchange counters are convenient, but convenience usually comes at a price.

Many airport currency exchange businesses offer:

Lower exchange rates
Higher service fees
Wider gaps between buy and sell rates

This means you could lose more money than you would at an exchange office in Manhattan.

For example, exchanging several hundred dollars at the airport instead of in the city could easily cost you an extra $20 to $50, depending on the currency and the day's rates.

When is it worth using JFK?

There are a few situations where it makes sense. You may need a small amount of cash for:

A taxi
The AirTrain
Public transport
Food or drinks after a long flight

In that case, exchange only a small amount. Once you reach Manhattan, you can compare options and exchange the rest at a better rate.

Banks vs currency exchange offices

Many people wonder whether banks or exchange offices offer better value. The answer often depends on your situation.

Banks

Banks are a reliable option for exchanging foreign currency, especially if you already have an account with them.

Trusted and secure
Convenient if you already have an account
Sometimes better rates for existing customers
Lower risk of scams

Some banks only exchange currency for customers
Limited selection of foreign currencies
Not every branch offers exchange services
Business hours may be shorter

Currency exchange offices

Specialist currency exchange offices focus on buying and selling foreign currencies. They are often located in busy tourist areas and may offer a wider range of currencies than banks.

More currencies available
Convenient tourist locations
Fast service
Often open longer hours

Rates can vary widely
Some charge extra fees
Hidden markups are possible

Which is more cost-effective?

If you're already a customer at a large bank, start there. If not, compare a few specialist exchange offices before making a decision.

Never assume the first exchange office you see offers the best deal.

Can you use ATMs instead?

Sometimes, using an ATM is actually cheaper than visiting a currency exchange office. Many debit cards use exchange rates that are close to the mid-market rate.⁵

However, there are three costs to watch for.

Foreign transaction fee

Some banks charge a percentage every time you withdraw money overseas. This is usually around 1% to 3%.⁶

ATM fee

The ATM owner may also charge a separate fee. This could range from a few dollars to over $5 per withdrawal.⁷ Your own bank may add another fee on top.

Dynamic Currency Conversion (DCC)

This is one of the easiest mistakes to make. When using an ATM or card terminal, you may see a message asking whether you want to pay in:

Your home currency
US dollars

Always choose US dollars when you're in New York. If you choose your home currency, the machine uses Dynamic Currency Conversion (DCC).

While it may seem helpful, DCC often uses a much poorer exchange rate than your own bank would provide. It means you could pay substantially more without realizing it.

If your bank offers low international fees and refunds ATM charges, withdrawing cash from an ATM can be one of the most cost-effective ways to get US dollars.

Otherwise, a reputable currency exchange in NYC may offer better value for larger amounts.

Should you exchange money before arriving in New York?

Many travelers ask whether it is better to exchange money before their flight or wait until they arrive in New York. It depends on your travel plans, how much cash you need, and the exchange rates available in your home country.

When it makes sense to exchange before you arrive

Exchanging a small amount before your trip can give you peace of mind. You'll have cash ready for small expenses as soon as you land, such as:

Public transportation
A taxi or rideshare
Snacks or drinks
Tips
Emergency purchases

Having around $50 to $100 in cash is usually enough for your first few hours in the city.

When it doesn't make sense

If your local bank or exchange office offers poor rates or high fees, it may be better to wait until you reach New York.

NYC has many banks and specialist exchange offices, giving you more opportunities to compare prices. You may also find that using your debit card at an ATM offers a better exchange rate than exchanging cash before your trip.

If you decide to wait, avoid exchanging money at the airport unless you only need a small amount immediately.

The best approach for many travelers is a mix of both: bring a small amount of US dollars with you and exchange or withdraw the rest after comparing your options in the city.

Tips to get the best exchange rates

Getting a better exchange rate doesn't have to be difficult. A few simple habits can help you keep more of your money.

Compare rates online

Before visiting an exchange office, check today's exchange rates online. Many providers also publish their current rates on their websites.

Check the mid-market rate

Use the mid-market rate as your benchmark.

Remember, you probably won't receive this exact rate, but it helps you understand how much markup an exchange office is adding.

Avoid airports

Airport exchange counters are built for convenience, not value. Whenever possible, wait until you reach the city center.

Avoid hotels

Many hotels offer currency exchange for guests. While convenient, hotel exchange desks often have some of the least competitive rates available.

Don't exchange small amounts over and over

Every exchange can include a fee or markup.

Instead of making several small exchanges during your trip, consider exchanging a larger amount once if you know you'll need the cash.

Ask about the total cost

Never focus only on the advertised exchange rate. Ask questions like:

Is there a commission?
Is there a service fee?
How many US dollars will I receive in total?

The final amount matters more than any advertised promotion.

Keep your receipt

If you think you may exchange leftover money back into your home currency before leaving the United States, keep your receipt. Some exchange offices offer better buy-back terms for customers who still have proof of their original transaction.

Do you even need to exchange cash?

The answer may surprise you. In today's New York City, many visitors need far less cash than they expected.

Most restaurants, shops, hotels, museums, attractions, grocery stores, and even many street vendors accept digital payments.

You can usually pay with:

Apple Pay
Google Pay
Visa
Mastercard
Contactless debit cards
Contactless credit cards

According to one report, contactless and mobile payments⁸ continue to grow rapidly across the United States, with many businesses now accepting tap-to-pay options as standard.

Sending money internationally? There may be a better option

Perhaps you're visiting New York and want to send money to your family overseas. Maybe you're an international student supporting relatives back home, or you're an immigrant sending part of your income abroad.

In these situations, using a local currency exchange office may not be the most cost-effective choice.

Instead of exchanging cash first and then finding another way to send it, you may benefit from using a dedicated international money transfer service like BOSS Money.

BOSS Money is designed for people who want to send money internationally in a simple and transparent way.

Some of its features include:

Transparent exchange rates
Upfront recipient amount, so you know exactly what the other person will receive
Competitive foreign exchange (FX) rates
Bank deposits in many countries
Cash pickup at participating locations
Mobile wallet transfers where available
No need to carry large amounts of cash

This approach can be safer than carrying significant amounts of money around the city. You can send money directly through a dedicated international money transfer service instead of exchanging cash first.

If your goal is paying for shopping, meals, or attractions in New York, a money exchange in NYC or an ATM may still be the right choice.

But if your real goal is sending money overseas, comparing international transfer services could help you save both time and money.

FAQs

Where can I exchange currency in NYC?

You can exchange foreign currency at specialist exchange offices, selected banks, and some airport locations. Popular options include Currency Exchange International (CXI), UNO Forex, A&S Foreign Exchange, and bank branches such as Chase, Citibank, TD Bank, and HSBC.

What is the best currency exchange in NYC?

There is no single answer because exchange rates change throughout the day. Many travelers consider specialist exchange offices among the best places to exchange currency in NYC because they often carry a wider range of currencies than banks.

Is it better to exchange money at a bank?

Banks can be a good option if you already have an account and your branch offers foreign exchange services. Existing customers may receive better rates or lower fees. However, specialist exchange offices may provide more currency choices and longer opening hours.

Should I exchange money at JFK Airport?

Typically, no. Airport exchange counters often have less favorable exchange rates and higher fees than providers in Manhattan. If possible, exchange only enough money to cover immediate transportation or other urgent expenses after landing.

Can I exchange foreign currency back to USD?

Yes. Many banks and specialist exchange offices in New York allow you to exchange foreign currencies back into US dollars. The currencies accepted and the rates offered vary by provider.

Where can I exchange euros in NYC?

Euros are one of the most widely traded currencies in New York. Most banks and specialist currency exchange offices can exchange euros into US dollars.

Where can I exchange pesos in NYC?

Many exchange offices throughout Manhattan exchange Mexican pesos and several other Latin American currencies. Some banks also offer this service, although availability may depend on the branch and the currency.

Do exchange offices charge fees?

Some do, while others advertise "no commission." However, even if no commission is charged, the provider may use a less favorable exchange rate. Always ask how many US dollars you will receive after all fees and markups are included.

Final thoughts

Finding the best place to exchange currency in New York doesn't have to be complicated. Whether you're exchanging euros, pounds, pesos, or another currency, taking a few minutes to compare rates can help you keep more of your money.

Before choosing an exchange provider, remember to check the current mid-market rate, ask about all fees, and avoid making decisions based only on "no commission" signs. Banks, specialist exchange offices, and ATMs each have advantages, and the right choice depends on your needs.

And if your goal is to send money internationally rather than to spend cash in New York, comparing services like BOSS Money may offer a more convenient and cost-effective solution.

With a little planning, you can enjoy your visit while making smarter decisions about your money.

Sources: all third party information obtained from applicable website as of July 30, 2026

https://ryo.co/en/articles/united-states/new-york-city/things-do-new-york/
https://ny1.com/nyc/all-boroughs/news/2026/07/16/new-report-finds-international-visits-to-nyc-hotels-lag
https://www.investopedia.com/terms/e/exchangerate.asp
https://www.bankrate.com/banking/exchanging-currency/#fees
https://www.eskimo.travel/en/blog/money-exchange-vs-atm-withdraw?srsltid=AfmBOoo399lwP37S9Cpt2nuLKb0UuMFC7vMzl7R0DSb2tKk_E2fVllVk
https://www.investopedia.com/terms/f/foreign-transaction-fee.asp
https://www.cnbc.com/select/how-to-avoid-atm-fees/
https://www.marqeta.com/blog/tapping-into-the-future-a-guide-to-contactless-payments

This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.