Currency exchange is one of the primary things you will be required to do after you reach New York for your studies. There are a lot of currency exchanges in New York where you can avail the service. However, it is very important to be aware of the charges and the laws of the government of the country. In this blog, we will discuss all the renowned foreign exchange centres in New York City with a strong track record for the service.
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Also Read: Ever wondered how Exchange Rates are regulated? Check out this blog on Role of Central Banks in Foreign Exchange Markets
Best Currency Exchange Centers in New York
If you are living and studying at a University in New York, you must know about some of the top currency exchange centres in the city. Always choose an exchange that is renowned and authorised to assure that you are not falling under any kind of scam. Let’s check some of the best currency exchange centres in New York:
Travelex
Travelex is one of the renowned currency exchange centres in New York City. There are several branches of Travelex in areas like Newark Liberty Airports, LaGuardia, and JFK. Apart from these branches, Travelex Exchange has six more offices in the famous Times Square, Herald Square etc. If you have INR and you want to exchange it with USD, you can visit this centre during their office hours. They offer genuine exchange rates and low transaction fees or commissions. Travelex is open on all 7 days a week.
CXI (Currency Exchange International)
CXI is another most famous and trustworthy exchange in the city of New York. If you are near Grand Central, Union or Penn stations you can visit their branch offices at these places. They are located inside the Apple Bank Branches. Check this list of offices and visiting hours of CXI:
| Office Area | Address | Contact | Opening Hours |
| Avenue of the Americas | 1330 Avenue of the Americas | +1 (212) 956-2400 | Monday to Friday: 8:30 am-8:00 pm Saturday: 9:00 am-8:00 pm Sunday: 11:00 am-7:00 pm |
| Grand Central Station | 122 East 42nd Street | +1 (212) 972-6800 | Monday to Friday: 8:30 am-9:00 pm Saturday: 9:00 am-9:00 pm Sunday: 11:00 am-8:00 pm |
| Penn Station | 371 7th Avenue | +1 (212) 695-1599 | Monday to Friday- 8:30 am-9:00 pm Saturday: 9:00 am-9:00 pm Sunday: 11:00 am-8:00 pm |
| Union Station | 4 Irving Place | +1 (212) 533-0003 | Monday to Friday- 8:30 am-8:00 pm Saturday: 9:00 am-8:00 pm Sunday: 11:00 am-7:00 pm |
| Upper East Side | 812-814 Lexington Ave | +1(212) 421-2220 | Monday to Friday- 8:00 am-7:00 pm Saturday: 9:00 am-5:00 pm Sunday: 10 am-4:00 pm |
Also Read: Want to exchange currency in India? Check this blog on Top Foreign Exchange Companies in India
A&S Foreign Exchange
A&S Foreign Exchange is known for its fast services in currency exchange and other forex services. This exchange allows you to make transactions with all the major currencies in the world. The exchange rate and commissions are low and they provide exceptional customer support service. If you are near Penn Station or Madison Square Garden, you can easily reach their office situated at 357 7th Avenue, New York. The office is open from 9:30 am to 7:00 pm on Monday to Friday. If you are visiting on Saturday, it will be open from 11:00 am to 6:00 pm. You can contact the A&S Foreign Exchange office by calling +1 (646) 473-1222.
Things to Keep in Mind Before Exchanging Currency
When you visit a foreign country, you are not aware of a lot of things and the local laws. Due to this, fraudulent activities may occur and you may end up losing your hard-earned money. To avoid such scams, always do your research properly and find legal and completely authorised centres for currency exchange.
- Do the transactions directly without dealing with a broker or middleman
- Research properly and find out the best currency exchange centres that are offering cheaper services.
- Don’t exchange currency in small amounts as you have to visit regularly which may attract potentially high service charges and exchange rates. Try to exchange a bigger amount of currency at a time.
- If possible, don’t exchange your currency at airports and hotels as they will charge you higher exchange rates and transaction fees.
FAQs
There is some renowned currency exchange in New York City that offers exchange services at genuine exchange rates. Among the most preferred exchange centres, A&S foreign exchange offers you the best exchange rates and low commissions.
You can visit Travelex, CXI or A&S foreign exchange for cheaper rates on your currency exchange.
Not all currency exchanges charge you high rates and commissions. You can easily find merchants that offer exchanges on genuine rates and low commissions.
Both things have their advantages and disadvantages. It will be easy for you to get your currency exchanged in your home country but carrying a huge amount of cash will be difficult. If you exchange currency abroad, you may have difficulty in finding authentic centres but once you get details about centres, it will be convenient for you.
The A&S Foreign Exchange is located at 357 7th Avenue, New York.
Currency Exchange is one of the most important things you need to do after reaching abroad. Try not to exchange your currency at airports and hotels. Find authorised exchange centres who are offering low exchange rates and commissions. This will help you save yourself from any type of scams and other fraudulent activities.
To know more about the loan application process, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
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