Currency and Paying in USA

by Arrive USA | November 30, 2023

Share on social media:

Understanding U.S. Currency

The United States Dollar (USD), the official currency of the United States of America, stands as one of the most recognized and influential currencies in the world. The ubiquity of the USD in global finance is a testament to its stability and the trust it commands worldwide. It’s not just a medium of exchange but also a staple in international trade and investment, reflecting the interconnectedness of the global economy.

Paper Money: U.S. banknotes come in denominations of $1, $5, $10, $20, $50, and $100. Each denomination has a unique color and design, featuring prominent U.S. historical figures and national symbols.
Coins: The most common coins are the penny (1 cent), nickel (5 cents), dime (10 cents), and quarter (25 cents). Less frequently used are the 50-cent coin and the $1 coin. Each coin has a distinctive size and edge, making them easy to identify by touch.
Special Features: U.S. currency incorporates various security features, such as watermarks, color-shifting ink, and security threads, to prevent counterfeiting. These features also add an element of intrigue for travelers interested in currency design.

Tips for Currency Exchange

1. Exchange Rates:

Fluctuating Rates: The value of the USD against other currencies fluctuates based on various economic factors. Keep an eye on the exchange rate trends leading up to your trip for the best timing to exchange money.
Checking Rates: Use reliable financial news sources, currency conversion apps, or websites to check current exchange rates. This knowledge will help you make informed decisions and avoid surprises.

2. Where to Exchange Currency:

Airports: While convenient, airport currency exchange counters often offer less favorable rates and higher fees. They are best used for small, immediate currency needs upon arrival or before departure.
Banks: Local banks in the U.S. typically offer better exchange rates and lower fees. Some banks also allow you to order foreign currency online in advance.
Currency Exchange Services: Dedicated currency exchange services are available in major cities and tourist areas. Compare rates and fees before choosing where to exchange.

3. Tips for Currency Exchange:

Compare Rates: Don’t settle for the first exchange rate you find. Compare rates at a few different places to get the best deal.
Understand Fees: Be aware of any service fees or additional charges that may apply when exchanging currency.
Exchanging Back: If you have leftover USD at the end of your trip, consider exchanging it back to your local currency before leaving the U.S., as it might be more challenging to find good exchange rates for USD in other countries.

4. Using Credit and Debit Cards:

Widespread Acceptance: Credit and debit cards are widely accepted in the U.S., and using them can sometimes offer better exchange rates than cash transactions.
Notify Your Bank: Inform your bank of your travel dates and destination to avoid any security blocks on your card.
Check for International Fees: Be aware of any international transaction fees that your bank may charge.

5. ATMs:

Convenient Cash Withdrawals: ATMs are a convenient way to withdraw USD using a foreign bank card. They are widely available across the U.S., including in banks, shopping areas, and airports.
Be Mindful of Fees: There may be fees associated with ATM withdrawals, including service charges from the ATM provider and your home bank.

Budgeting for Your Trip

Traveling to the United States can range from moderately expensive to very costly, depending on your travel style, destinations, and activities. The U.S. offers a vast array of experiences catering to different budgets, but understanding the potential expenses is key to planning a successful trip. For Understanding Prices, sales tax in the U.S. is not included in the displayed price, so expect to pay a little more at checkout. Here’s an overview of daily expenses for a 15-day trip, considering various travel styles:

Average cost for a 15 days trip:

If you are planning to have a budget style trip you should keep in mind this estimation cost:

Accommodation: Budget travelers can opt for hostels, budget hotels, or shared Airbnb rooms, costing approximately $50 to $100 per night.
Food: Eating at fast-food restaurants or self-catering can keep costs low, around $15 to $30 per day.
Transportation: Using public transportation and occasional rideshares, expect to spend about $15 to $30 per day.
Activities: Free or low-cost attractions, such as museums with free entry days, hikes, and city tours, can limit spending to about $10 to $20 daily.
Daily Estimate: $90 – $180

If you are planning to have more commodities, be more confortable and do more expensive activities we recommend you to keep in mind this estimation:

Accommodation: Mid-range hotels or private Airbnb rentals average between $100 and $200 per night.
Food: Dining at casual sit-down restaurants can cost about $30 to $60 per day.
Transportation: Renting a car or using more convenient transport options might cost $30 to $60 per day.
Activities: Paid attractions like theme parks, guided tours, or special events can range from $40 to $100 daily.
Daily Estimate: $200 – $420.

Overall 15-Day Trip Estimate:

Budget: $1,350 – $2,700
Mid-Range: $3,000 – $6,300

The tipping culture

Tipping is an integral part of the service industry in the United States, and understanding it is important for travelers. Unlike many other countries where tipping is optional or included in the bill, in the U.S., tipping is expected and often constitutes a significant portion of a service worker’s income. Here’s a guide to help you navigate the tipping culture during your visit:

General Tipping Guidelines

Restaurants: For sit-down dining, a tip of 15-20% of the total bill before taxes is standard. For exceptional service, some people tip up to 25%. At buffets, a smaller tip of around 10% is appropriate.
Bars: Tip bartenders typically $1 to $2 per drink or 15-20% of the total tab.
Fast Food and Takeout: Tipping is not generally expected, but for large orders or exceptional service, a small tip is appreciated.

Tipping for Other Services

Taxi Drivers: A tip of 15-20% of the fare is customary. For short trips, rounding up to the nearest dollar is common.
Rideshare Services (e.g., Uber, Lyft): While not mandatory, a tip of 10-20% is appreciated, especially for excellent service or challenging driving conditions.
Hotel Staff: Tip bellhops $1 to $2 per bag. Housekeeping staff should be tipped $2 to $5 per night, usually left daily with a note indicating it’s a tip.
Tour Guides: For group tours, a tip of $5 to $10 per person per day is typical; more for private tours.

Tipping Etiquette

Cash vs. Card: Tipping in cash is preferred, even if you’re paying the bill with a card. This ensures that the tip goes directly to the service provider.
When to Tip: Generally, tips are given at the end of the service. In restaurants, it’s after you receive your bill.
Service Quality: Tipping is meant to reward good service. While it’s customary to tip, if the service is exceptionally poor, it’s acceptable to tip less or not at all. However, consider if the issue was within the server’s control before deciding.

Cultural Considerations

Cultural Differences: If you’re visiting from a country where tipping is not customary, adapting to the U.S. tipping culture can be a significant shift. Remember, it’s a part of how many service workers earn a living wage.
Budgeting for Tips: Include tips in your travel budget. While they might seem small individually, they can add up over the course of your trip.