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Currency in the USA

The official currency of the United States is the US Dollar (USD), subdivided into 100 cents. Notes are available in denominations of $1, $5, $10, $20, $50, and $100. Coins are available as 1¢ (penny), 5¢ (nickel), 10¢ (dime), 25¢ (quarter), 50¢ (half-dollar), and $1 coins.

When handling cash, always check for counterfeit bills. The US Secret Service provides guidelines to identify legitimate currency.

Banking Services

• Major banks include Chase, Bank of America, Wells Fargo, Citibank, and US Bank.
• ATMs are widely available in cities, airports, shopping centers, and tourist areas.
• Most ATMs accept international debit and credit cards; check fees with your bank.
• Opening a local bank account is optional for short-term visitors; generally required for long-term stays.
• Bank hours: typically 9am–5pm on weekdays; closed or limited hours on weekends and holidays.

Credit & Debit Cards

• Visa, Mastercard, and American Express are widely accepted. Discover cards may not be accepted everywhere.
• Swipe or chip transactions are standard; contactless payments are increasingly common.
• Always carry a small amount of cash for minor purchases or locations that don’t accept cards.
• Notify your bank before traveling to prevent your card from being blocked.
• ATM withdrawals may incur foreign transaction fees; check your bank’s policy.

Tipping Etiquette

Tipping is customary in the USA, typically 15–20% of the bill for restaurants. Other tipping guidelines:

• Taxi or rideshare: 10–15%
• Hotel housekeeping: $2–$5 per night
• Concierge or porter: $1–$5 per service
• Food delivery: 10–15% of total bill

Taxes in the USA

Sales tax varies by state (0%–10%), usually added at the point of purchase. Prices in stores generally do not include tax. There is no VAT like in other countries.

Income tax is applicable for residents and working visa holders; tourists generally pay tax included in purchases only.

Online Payments & Digital Wallets

Digital payments are common in the USA. Popular options:

• PayPal, Venmo, Zelle – for peer-to-peer transfers
• Apple Pay, Google Pay, Samsung Pay – for contactless payments
• Most stores and restaurants accept card-based digital wallets

Money Safety Tips

• Carry only essential cash; use cards for larger transactions.
• Be aware of pickpockets in crowded tourist areas.
• Use hotel safes for storing valuables.
• Check ATMs for tampering before use.
• Keep emergency bank and card contacts handy.

Currency Exchange & ATM Tips

Foreign travelers may need to exchange money or withdraw cash from ATMs. Keep these points in mind:

• Airport exchange counters usually charge higher fees; use city banks for better rates.
• ATMs display the exchange rate before confirming withdrawal; check fees beforehand.
• Some ATMs accept international cards only from major networks (Visa, Mastercard).
• Notify your bank of travel plans to prevent card blocking.

Mobile Payments & Fintech Apps

The US is highly digital. Many travelers can use mobile apps for money management and payments:

• Apps like Cash App, PayPal, Venmo, and Zelle enable easy peer-to-peer transfers.
• Mobile banking apps allow checking balances, paying bills, and locating ATMs.
• Contactless NFC payments via Apple Pay, Google Pay, and Samsung Pay are widely accepted.
• Some apps provide budgeting, currency conversion, and travel expense tracking.

Currency Scams & Safety Alerts

• Be cautious of fake bills, especially in small shops or markets.
• Beware of ATM skimmers or devices attached to card readers.
• Do not share card PINs or sensitive banking info with strangers.
• Check your transaction statements regularly for unauthorized charges.
• Report lost/stolen cards immediately to your bank.

Traveler Banking Tips

• Use a combination of cash and cards to avoid running into payment issues.
• Keep emergency cash in a separate location from your main wallet.
• Carry multiple payment methods (credit, debit, prepaid travel card).
• Save bank contact numbers for reporting lost cards or disputing transactions.
• Check for foreign transaction fees before using cards abroad.

US Coins & Practical Usage

Understanding US coins helps with small purchases and tipping:

• Penny (1¢) – rarely used for large transactions, mostly for exact change.
• Nickel (5¢), Dime (10¢), Quarter (25¢) – commonly used in vending machines, parking meters, and tips.
• Half-dollar (50¢) – rarely seen, but legal tender.
• $1 coin – occasionally used, but bills are preferred for larger amounts.

Official U.S. Government Resources on Money & Banking

• Federal Reserve – U.S. Currency, Notes, and Banking Policies
• U.S. Department of the Treasury – Financial Sanctions & Currency Information

Quick Currency Reference

Handy table for common US denominations:

Currency Conversion & Expense Apps

• XE Currency – real-time exchange rates and offline mode.
• Currency Converter Plus – supports multiple currencies.
• Mint – track expenses and budgets in USD.
• TravelMoney – helps plan your daily spending efficiently.

Money & Payments — FAQs