🇺🇸 New York City Money Guide

Currency: US Dollar ($)
Currency Code: USD
Exchange Rate: N/A (local currency)

The US Dollar is the local currency in New York City. While this eliminates exchange rate concerns for American travelers, international visitors should be aware of a few points. ATMs from major banks like Chase, Bank of America, Citibank, and Capital One are ubiquitous throughout Manhattan, Brooklyn, and other boroughs. Using an ATM from your own bank's network avoids the $3-5 out-of-network fees charged by most US ATMs. International visitors should use ATMs at major banks rather than standalone machines in delis or convenience stores, which charge $3-6 per transaction. Currency exchange at JFK, Newark, or LaGuardia airports is expensive — rates are 5-8% worse than in the city. Travelex offices in Midtown and money exchange services on Broadway offer slightly better rates. Credit cards are accepted virtually everywhere in NYC — from upscale restaurants to food trucks and subway stations. Visa and Mastercard are universal, and American Express has strong acceptance. Contactless payments and Apple Pay are widely accepted. NYC is increasingly cashless, but some small bodegas, food carts, and Chinatown businesses may prefer cash. Having $20-50 on hand is wise for tips and small purchases. Sales tax of 8.875% is added to nearly all purchases (except groceries and clothing under $110) and is not included in the displayed price — factor this into your budget.

The United States has the most aggressive tipping culture in the world, and New York City takes it to the extreme. At restaurants, 18-20% of the pre-tax bill is the standard tip, with 15% considered the minimum for acceptable service and 25%+ for exceptional experiences. Many restaurants now present suggested tip amounts of 20%, 25%, and 30% on card terminals. Note: the tip should be calculated on the pre-tax subtotal, not the total including the 8.875% sales tax. For counter-service cafes and coffee shops, tip jars and tablet screen prompts are everywhere — $1-2 or 15-20% is common but not as obligatory as at sit-down restaurants. Bartenders receive $1-2 per drink or 15-20% of the tab. Hotel bellhops receive $2-5 per bag, housekeeping $3-5 per night (left daily, not at checkout), and doormen who hail a cab get $1-2. Taxi and rideshare drivers receive 15-20%. Delivery drivers (UberEats, DoorDash, etc.) receive $3-5 or 15-20%. Tour guides receive $5-10 per person for walking tours. Hair stylists receive 20%. Coat checks receive $1-2 per item. Yes, tipping in NYC can add 20-25% to your total costs — budget accordingly.

New York City is generally safe but has scams targeting tourists, especially in Midtown Manhattan and Times Square. Costumed Characters in Times Square (Elmo, Spider-Man, Statue of Liberty) pose for photos then aggressively demand $5-20 per photo. If you want a photo, agree on $1-2 beforehand. Fake Ticket Sellers near Times Square and at the TKTS booth approach tourists offering "discount" Broadway tickets that are either counterfeit or wildly overpriced — only buy from the official TKTS booth (look for the big red steps in Duffy Square) or the theater's own box office. CD Hustle artists in Times Square and Central Park hand you a "free" CD of their music, then demand $10-20 and become aggressive — simply do not take anything handed to you. Three-Card Monte runs in various Midtown locations and is always rigged. Fake Monks and Buddhist nuns in Central Park, Times Square, and near the Brooklyn Bridge hand you a card or trinket then demand "donations" of $10-20 — politely decline and walk away. Pedicab (rickshaw) Overcharging is common in Central Park and Midtown — drivers quote per-minute rates that result in $50-150 for a short ride. Always negotiate a fixed price. The Subway is safe but pickpocketing occurs on crowded trains, especially the 4/5/6 at Grand Central, the N/Q/R at Times Square, and the L at Union Square during rush hour. Fake Parking Attendants in Lower Manhattan collect parking fees for spots that are actually free — check signage yourself. Restaurant scams are rare in NYC, but always verify that tax and tip have not been added twice to your bill.

Quick Price Reference

Daily Budget Guide

New York City is expensive, but iconic experiences can be found at every budget level. Budget travelers can manage on $80-120 per day with hostels ($40-60/night), dollar pizza slices ($1-1.50 — yes, still!), halal cart meals ($6-8 in Midtown), and a 7-day unlimited MetroCard ($34). Bagels cost $1.50-3, and a deli sandwich runs $8-12. Free activities abound: walking the Brooklyn Bridge, exploring Central Park, riding the Staten Island Ferry (free with Manhattan skyline views), visiting free museums (MoMA is free on Fridays, Met is "pay what you wish" for NY residents), and people-watching in Washington Square Park. Mid-range travelers spending $180-300 per day can enjoy midtown hotel rooms ($150-250/night), sit-down restaurant meals ($25-50), Broadway shows ($80-150 via TKTS day-of tickets), and attractions like Top of the Rock ($44) or the 9/11 Memorial Museum ($28). Luxury travelers should budget $500+ per day for boutique hotel rooms ($300+/night), fine dining ($80-200), and helicopter tours ($250+). Money-saving tips: the CityPASS ($129) bundles 5 major attractions at 40% savings. Happy hours (typically 4-7pm) offer half-price drinks and appetizers. Chinatown, Jackson Heights (Queens), and Flushing offer incredible food at a fraction of Manhattan prices.

The United States does not offer VAT refunds to tourists as there is no federal value-added tax. However, New York has some built-in savings: clothing and footwear items priced under $110 per item are exempt from both New York State (4%) and NYC (4.5%) sales tax. This makes New York a surprisingly good place for shopping compared to other states. There is no process needed — the exemption is applied automatically at checkout. This applies to most clothing, shoes, and fabric accessories but not to accessories like jewelry, watches, or handbags over $110. For electronics, cosmetics, and other taxable goods, the full 8.875% sales tax applies. International visitors may be able to claim tax refunds on certain goods through specialized services, but these are not widely available.