Many exchangers had their headquarters in Osaka where honryogae developed, and branches in Edo where many wakiryogae were found, while Kyoto was somewhere between the two.
両替屋は大坂に本店を置くことが多く本両替が発達し、江戸は支店が多く脇両替が多く見られ、京都はその中間的な性格を持っていたといわれる。