Banking and Currency
Currency
US
Dollar (US$) = 100 cents. Notes are in denominations of US$100, 50, 20,
10, 5, 2 and 1. Coins are in denominations of US$1, and 50, 25, 10, 5
and 1 cents
Currency exchange
Hotels
do not, as a rule, exchange currency and only a few major banks will
exchange foreign currency, so it is advisable to arrive with US Dollars
Credit & debit cards
Most
major credit cards are accepted throughout the USA, including American
Express, Diners Club, MasterCard and Visa. Check with your credit or
debit card company for details of merchant acceptability and other
services that may be available. Visitors are advised to carry at least
one major credit card, as it is common to request prepayment or a
credit card imprint for hotel rooms and car hire, even when final
payment is not by credit card.
Travelers cheques
Widely
accepted in hotels, stores and restaurants, provided they are US Dollar
cheques; Sterling traveller's cheques are not acceptable and few banks
will change these. Change is issued in US Dollars. It should be noted
that many banks do not have the facility to cash traveller's cheques
(the US banking system differs greatly from that of the UK) and those
that do are likely to charge a high commission. One or (in some cases)
two items of identification (passport, credit card, driving licence)
may also be required. To avoid additional exchange rate charges,
travellers are advised to take traveller's cheques in US Dollars.
Currency restrictions
There
are no limits on the import or export of either foreign or local
currency. However, amounts in excess of US$10,000 or the equivalent
(including foreign currency, traveller's cheques, money orders and
‘bearer bonds’) must be registered with US Customs on Form 4790.
Failure to do so may result in civil and criminal prosecution,
including seizure of the money. There is an embargo on transactions of
US currency with Cuba, Iran, Iraq, Libya and Korea (Democratic People's
Republic of).
Exchange rate indicators (approximately):
For exchange rates, please check:
www.xe.com/ucc
Banking Hours
Variable, but generally Mon-Fri 0900-1500.