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Posted by on Mar 5, 2014 in Barclays Arrival, Credit Cards, Miscellaneous | 0 comments

A&S Foreign Exchange Has the Best FX Rates in NYC

When traveling internationally for your honeymoon or other trips, I highly recommend getting a no foreign exchange fee credit card, such as the Barclays Arrival credit card, which offers a fantastic signup bonus. You should also exchange for some foreign currency ahead of time, because it’s easy to get hit with ATM fees overseas or worse yet, get gouged by currency services providers, such as Travelex. If you are based in New York City, I recommend A&S Foreign Exchange for your FX needs. They are conveniently located near Penn Station at 357 7th Avenue and in my opinion, offers the best exchange rates in NYC.

 

A&S Foreign Excahnge located at 357 7th Avenue in New York City

A&S Foreign Exchange located at 357 7th Avenue in New York City

 

A&S Foreign Exchange

From the outside, A&S Foreign Exchange looks nothing like a foreign exchange service provider. It’s actually located inside a souvenir gift shop, but there is a large banner at the top that says, “A&S Foreign Exchange.” Feel free to get 5 New York T-Shirts for $10.99 while you are there! Near the door is also an easel sign claiming the best exchange rates in the city so don’t worry as you are at the right place.

 

In my opinion, they do indeed have the best foreign exchange rates in NYC

In my opinion, they do indeed have the best foreign exchange rates in NYC

 

The best aspect of A&S Foreign Exchange is their website, which lists their current foreign exchange rates. At the time of writing this post, A&S Foreign Exchange was selling CAD for 1.09, EUR for 1.38, and JPY for 102.00. For comparison purposes, the market rate at the time was 1.11 for CAD, 1.38 for EUR, and 101.80 for JPY. That means A&S Foreign Exchange was selling CAD slightly worse than the market rate, EUR at the market rate, and JPY slightly better than the market rate – all without any fees.

Being the skeptic that I am, I called A&S Foreign Exchange at (646) 473-1222 to confirm I would get the website listed rates before I went over, and the guy on the phone confirmed those rates were accurate if I came by in the next two hours. You may wonder how they make any money, which is a good question, and I think they mostly make money from travelers who sell foreign currencies for USD. As a result, A&S Foreign Exchange is probably best for those buying foreign currencies rather than selling foreign currencies.

I headed over and sure enough, I was able to get the FX rates listed on the website. Regardless of how much money you exchange, you need to show ID, and they had a sign requiring Social Security Number for large transactions $3,000 and above. I only made a small exchange so my ID alone was sufficient.

 

The Main Point

A&S Foreign Exchange offers the best exchange rates in New York City, and the whole transaction was seamless. Their Yelp reviews also reveal plenty of happy customers. By combining fair currency exchange rates with a no foreign exchange fee credit card, you’ll be well prepared to save money on your international trip.

 

Disclaimer: I may receive referral credit for some of the links above, which I appreciate

 

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