When you need to buy or sell foreign currency in New York City,
forex the rates you get at a bureau de change will depend on what currency you are buying and selling. Some money changers charge a margin on both the buy and sell rate.
To avoid these fees, consider a smart multi-currency card like TransferWise or Monzo. These cards offer lower fees and better exchange rates than banks or bureaux de change.
Locations
A quick online search of “forex bureau near me” will bring up currency exchange kiosks, banks, money service businesses and loan agencies in your area. However, not all of them offer the same foreign exchange services. Some may charge higher markups on the buy and sell rates of your currency, or have shorter hours of operation. For example, most banks will only provide foreign currency exchange during banking hours. If you need foreign currency immediately, you’ll want to find a place that can accommodate your needs. CXI has a network of customer locations in convenient, safe shopping malls, open seven days a week and providing better exchange rates than local banks and airports.
Hours
Forex market hours are the specific times during which traders and investors can trade international currency. The forex market is open five days a week, with the exception of weekends. It is not centralized and has multiple local trading sessions that overlap. These markets are vital to global businesses and central banks.
Many banks and credit unions offer foreign currency exchange services. They are typically open during regular business hours, from 9 a.m. to 5 p.m. on weekdays and for limited hours on Saturdays. Depending on the location, fees and exchange rates may vary. You can find a list of foreign exchange locations near you by turning on your phone’s location services and searching online for “currency exchange near me.” Search results may include money service kiosks, loan agencies, or travel companies that offer foreign currency exchange services.
CXI has a network of company-owned and franchised retail locations in the Manhattan area that provide foreign currency exchange on demand. These locations also cash American Express foreign and US traveler’s cheques and sell gold bullion, including American Eagle coins1, Canadian Maple Leaf coins1 and Royal Canadian Mint bars1. All CXI locations are open seven days a week during mall hours.
Fees
Most bureaux de change will quote two rates for exchanging currency: the "buy" rate (what they will sell you the currency at) and the "sell" rate (what they will buy back from you). Typically, there is a margin between these two rates, which can be expensive.
You can avoid paying commission and fees by buying your currency online, before you travel. This way, you can lock in Travelex's best exchange rate, compared to walk-in rates, and pay like a local with Wise – our card that gives you access to over 50 currencies. Plus, you may qualify for personalised discounts. Check out our Fees & Pricing for more information.