The United States dollar is the primary currency, issued as Federal Reserve Notes in denominations of $1, $5, $10, $20, $50, and $100. Coins circulate in values of 1 cent (penny), 5 cents (nickel), 10 cents (dime), 25 cents (quarter), 50 cents (half dollar), and $1, though half dollars and dollar coins appear rarely in daily transactions. The dollar symbol is $, and the currency code is USD. All prices quoted throughout the country use this single currency, though informal economies in border regions may accept foreign cash at merchant discretion.
Cash remains functional across the United States but card infrastructure dominates. Contactless payment terminals accept tap-to-pay credit and debit cards in most urban retailers, restaurants, and transit systems. Mobile payment platforms including Apple Pay, Google Pay, and Samsung Pay function wherever contactless readers exist. Chip-and-PIN cards issued outside the United States work at most terminals, though some older machines require chip-and-signature or magnetic stripe. Magnetic stripe fallback exists but is declining as card issuers phase out the technology. Gas stations frequently require ZIP code entry for domestic cards at automated pumps; foreign cardholders should pay inside the station instead.
ATMs operate through multiple interbank networks. Machines display participating network logos—common ones include Cirrus, Plus, Star, and Allpoint—and accept cards showing matching symbols. Withdrawal fees split into two parts: the ATM operator's surcharge, typically $2.50 to $5 per transaction, and the cardholder's own bank's foreign transaction or out-of-network fee. Surcharges appear on-screen before transaction completion. Fee-free ATM access exists through networks like Allpoint, which partners with certain banks and credit unions to waive operator surcharges at participating machines. Large bank ATMs (Chase, Bank of America, Wells Fargo, Citibank) blanket cities but charge non-customers. Credit unions often belong to shared networks allowing fee-free use of thousands of machines nationwide for their members. Cash withdrawal limits range from $300 to $1,000 per transaction depending on the ATM operator and card issuer.
Banks open weekdays, generally 9:00 AM to 5:00 PM, with some branches offering Saturday morning hours. National banks maintain branches in multiple states; regional banks concentrate in specific areas. Credit unions serve members based on employment, geography, or affiliation but some accept broad membership categories. Opening a bank account as a non-resident requires documents that vary by institution—passport, visa, proof of address, and often a Social Security Number or Individual Taxpayer Identification Number. Some banks refuse accounts without SSN or ITIN. Tourist accounts do not exist as a product category, though some institutions open accounts for foreign students or workers with appropriate documentation.
Tipping operates as a wage supplement embedded in service industry compensation. Restaurant servers receive $2.13 per hour federal minimum for tipped employees in many states, though some states mandate higher tipped minimums or require full minimum wage before tips. Standard restaurant tips range from 18% to 22% of the pre-tax bill for adequate service, with 15% considered low and 25% or more for exceptional attention. Tips go directly to servers, though some restaurants pool tips among front-of-house staff. Bartenders receive $1 to $2 per drink or 15% to 20% of the tab. Hotel housekeeping staff receive $3 to $5 per night, left daily rather than at checkout since staff rotate. Bellhops and doormen receive $2 to $5 per service (bag delivery, taxi hailing). Taxi and rideshare drivers receive 15% to 20%. Food delivery drivers receive 15% to 20% with a minimum of $3 to $5 regardless of order size. Hairdressers and barbers receive 15% to 20%. Tips can be added to credit card payments via printed line on receipts or through app interfaces for rideshare and delivery services.
Sales tax applies to most goods and services but does not appear in displayed prices. Retailers, restaurants, and service providers show pre-tax amounts on menus, tags, and websites; tax adds at register. Rates combine state, county, and municipal taxes, resulting in totals between 0% (no sales tax in Delaware, Montana, New Hampshire, Oregon) and 10.25% in some California localities. Tax-free shopping for tourists does not exist as a formal refund program at the federal level, though Louisiana offers foreign visitor tax refunds through participating retailers on purchases exceeding $500. Most states exclude groceries and prescription medications from sales tax, but prepared restaurant food bears full tax. Hotel occupancy taxes add separate percentages to room rates, often totaling 10% to 18% when combined with sales tax.
Credit cards function universally in urban and suburban areas. Visa and Mastercard acceptance reaches near-total among businesses that accept cards. American Express sees wide but not universal acceptance, particularly among small merchants who avoid its higher processing fees. Discover has lower acceptance than the other three. Foreign-issued cards work without restriction, though some merchants in rural areas or small independent businesses prefer cash due to processing costs or equipment limitations. Contactless limits typically allow transactions up to $250 without PIN entry, though merchants can set lower thresholds. Dynamic currency conversion appears at some terminals, offering to charge foreign cards in their home currency; this option almost always delivers worse exchange rates than allowing the charge in USD and letting the card issuer convert.
Currency exchange services cluster in airports and tourist-heavy urban districts. Exchange counters and kiosks charge markup rates between 5% and 15% on top of interbank rates, with airport locations typically at the higher end. Banks exchange currency for account holders, often at better rates than retail exchange services, but may require ordering foreign currency in advance for less common denominations. Traveler's checks have largely disappeared from use; most businesses no longer accept them and banks that cash them do so only for account holders.
Merchants that refuse card payments exist primarily in cash-only restaurants, food trucks, farmers' markets, small independent retailers, and some service providers like laundromats or parking lots. Signs reading "Cash Only" or "No Cards" appear at entry or register. Some businesses set card payment minimums—typically $5 to $10—or add surcharges for card transactions, though surcharge legality varies by state. Card networks prohibit minimum purchase requirements for credit cards under merchant agreements, but enforcement depends on cardholder complaints.
Digital-only banks and financial services include Chime, Varo, Current, and others offering accounts through mobile apps without physical branches. These services provide debit cards, ATM access through partner networks, and mobile check deposit. Prepaid debit cards sold at retailers allow cash loading and card spending without bank account requirements. Peer-to-peer payment platforms like Venmo, Zelle, Cash App, and PayPal handle transfers between individuals and increasingly between customers and businesses. Each service has different funding sources—bank accounts, debit cards, credit cards—and fee structures. Instant transfers typically cost 1% to 1.75% while standard bank transfers take one to three business days without fees.
Wire transfer services operate through Western Union and MoneyGram locations, concentrated in pharmacies, grocery stores, and check-cashing outlets. International money transfer apps including Wise, Remitly, and WorldRemit offer lower fees than retail wire services for transfers to bank accounts abroad. Fees vary by destination, amount, and transfer speed. Banks conduct wire transfers for account holders but charge higher fees than dedicated transfer services—typically $25 to $50 for outbound international wires.
Cryptocurrency acceptance exists among some retailers and service providers, particularly in technology-focused cities like San Francisco, Austin, and Miami. Bitcoin ATMs operate in various locations allowing cash-to-crypto exchange and vice versa, charging transaction fees between 7% and 20%. Mainstream payment adoption remains limited; cryptocurrency functions more as an investment asset than daily transaction medium for most residents and visitors.
Budgeting requires accounting for tax and tip additions that increase posted prices by 25% to 35% in full-service restaurants, and by the local sales tax rate (typically 5% to 10%) on retail goods. A menu price of $20 becomes $22 after 10% tax and $26.40 after adding an 18% tip. Hotel rates quoted online often exclude resort fees—mandatory daily charges ranging from $20 to $50 in tourist-heavy properties in Las Vegas, Miami, and Hawaii—plus occupancy taxes. Final hotel bills can exceed quoted rates by 30% to 40%.
Cost of living varies dramatically between regions and cities. San Francisco, New York City, Los Angeles, Boston, and Seattle rank among the highest-cost cities. Houston, Phoenix, and San Antonio offer substantially lower costs. Rural areas in the Great Plains and South typically show the lowest costs, though visitor infrastructure may be limited.