Page 370 - (DK Eyewitness) Travel Guide - New York City

368  SUR VIV AL GUIDE

Banks and Currency

New York is the nation’s banking center. It has a wealth of local,
regional, and major national banks, plus many retail branches
of the leading foreign banks. HSBC is well represented in the
city; the banks of Australia, Canada, Ireland, Japan, and Turkey
also all have offices or branches. Exchange bureaux are located
in airports, the major train stations, and in various locations
throughout the city.
American Express credit cards

Banking you can avoid carrying large
ask your bank which New York sums of money around with you.
New York banks are generally City banks and ATM systems will Though traveler’s checks
open weekdays from 9am to accept your bank card and what are no longer widely used and
6pm. Several banks open earlier fees and commissions will be cannot be cashed easily, even
or close later to suit commuters’ charged on each trans action. in US dollars (other currencies,
needs, and many now stay open Most ATMs are part of either including sterling, are almost
on Saturday 9am–4pm. Tellers the Cirrus or the Plus network. never accepted in the US), many
are avail able to help customers They accept various US bank department stores, shops, hotels,
in the bank, or you can use a cash cards, MasterCard and Visa and restaurants in New York still
withdrawal machine (ATM). Not cards, and certain others. take them. Thomas Cook no
all retail banks exchange foreign Always be aware of your longer issues checks (it prefers
currency or cash traveler’s checks. surroundings when using an preloaded travel cards), though
Your best bet for the latter is ATM. Make sure you shield your you can still cash American
American Express Travel Services. PIN and, if available, use a Express checks without a fee at
machine located within the Amex branches in New York.
bank. Be careful when removing Exchange rates for foreign
your card at the machine. currency are printed daily in
The New York Times and The
Credit Cards, Wall Street Journal and may be
Traveler’s Checks, and posted in bank windows; you
Currency Exchange can also check www.xe.com.
Among the most well-
MasterCard, American Express, established foreign-exchange
Visa, and Diners Club cards are brokers are Travelex Currency
widely accepted throughout Services Inc. and American
the United States, regardless of Express. When you use the
which company or bank issued services of a foreign-exchange
them. These cards can also be broker, you will have to pay
used for purchases, as well as a fee, which will vary widely
ATM for cash withdrawal to obtain cash advances from from one place to the next.
ATMs. Before you travel, it is a There will also be a commis-
ATMs good idea to phone your card sion. Unless it is necessary,
provider and inform them that avoid changing money at
Automated teller machines you will be abroad, or you may hotels or the airport, where
(ATMs) can be found in most find that your card gets blocked rates are poor and fees, high.
bank lobbies. They enable you when you start using it in New Banking company Chase
to obtain American currency York. Charges may be higher has over 400 locations where
24 hours a day from your when using a credit card – again, you can usually exchange
bank account using a debit check with your bank before money, and TD Bank also
or credit card. ATMs usually you leave. Most credit cards has branches throughout
issue American bank notes in charge a foreign transaction fee Manhattan, many of which are
$20 denominations. Among between 1 and 3 per cent, when open on Saturdays and until
the many advantages of ATMs you buy something overseas. 8pm on weekdays.
is the swift, secure exchange In the United States, you
of your money at the whole sale can use a credit card to pay Wiring Money
rate used between the banks. for most purchases in store
Bank fees are generally much and online. Major expenses In emergencies, you can
lower than those charged by such as tours, travel packages, arrange to have money wired
money-exchange offices and expensive rentals are all to you through MoneyGram
(typically $3 per withdrawal). best paid for by credit card. or Western Union, though
Before you leave for New York, Using a card also means that there is a considerable fee.

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