How does currency exchange shops survive when banks exist?

Question

I am not familiar with the finance scene. Do currency exchange shop exist solely based on the specialized currency exchange profession?

In: 6

Answer 1

I think some of them survive because they are in an area with high demand and little waiting.

There is (at least one, maybe not) a guy at the Mexico/Guatemala border that walk around with a fanny pack on that exchanges money for those 2 countries as well as for US currency. He stays in business because it is a high-demand area, he has the cash on him so no waiting, and he is always there.