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Common in United Kingdom

Scam in United KingdomChanging money

Misleading currency exchange in United Kingdom

Currency exchange shops, especially Leicester Square and Tottenham Court Road.

How it works

A shop advertises 'no commission' but builds a large charge into its exchange rate. Rates may also be misrepresented, leaving you with far fewer pounds than expected.

Warning signs

  • 'No commission' is promoted without a clear final payout.
  • The buying and selling rates are far apart.
  • The amount offered is much worse than a reference exchange rate.

How to avoid it

  1. Ask exactly how many pounds you will receive before handing over money.
  2. Compare the final payout at more than one provider.
  3. Avoid changing money in Leicester Square or Tottenham Court Road.
  4. Consider withdrawing cash from an ATM inside a bank.

If it happens to you

Keep the receipt and any record of the advertised rate. Ask the business to explain the difference and report suspected deception.

  1. Move to a safe, busy place. Do not chase a thief or confront anyone carrying a weapon.
  2. Call 999 or 112 if you are threatened, injured or being held against your will. For a crime that does not need an emergency response, call 101.
  3. Freeze missing cards and contact your card issuer about unauthorised or forced payments. If your phone was stolen, lock it remotely and contact your mobile provider.
  4. Save receipts, booking details, messages and payment records. Write down the location, time and what happened while you remember it.
  5. Report the incident to the relevant police or transport staff. Ask for a report reference and contact your insurer.
  6. If your passport is missing, contact your embassy or consulate through its official contact details.
What it can costCharges hidden in the exchange rate can be as high as 50%.
Where it happensCurrency exchange shops, especially Leicester Square and Tottenham Court Road.London

What travellers report

Posts about this scam on other sites, summarised in our words. Open one to read the original.

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Questions

What is the misleading currency exchange scam in United Kingdom?

A shop advertises 'no commission' but builds a large charge into its exchange rate. Rates may also be misrepresented, leaving you with far fewer pounds than expected.

How can I spot it early?

'No commission' is promoted without a clear final payout. The buying and selling rates are far apart. The amount offered is much worse than a reference exchange rate.

How do I avoid misleading currency exchange in United Kingdom?

Ask exactly how many pounds you will receive before handing over money. Compare the final payout at more than one provider. Avoid changing money in Leicester Square or Tottenham Court Road. Consider withdrawing cash from an ATM inside a bank.

What should I do if it happens to me?

Keep the receipt and any record of the advertised rate. Ask the business to explain the difference and report suspected deception.

Where in United Kingdom does this happen?

Currency exchange shops, especially Leicester Square and Tottenham Court Road. It has been reported in London.

How much can it cost me?

Charges hidden in the exchange rate can be as high as 50%.

How common is this scam in United Kingdom?

Common. The United Kingdom is generally safe to visit, but tourists can face theft, street cons and misleading prices. London has several scams aimed at visitors, including rigged street games, ticket-machine theft and costly currency exchange. Watch your phone, refuse pushy offers and check prices before paying.

Who can I report it to?

Emergency services: call 999 or 112 for an immediate serious threat to life or safety. Ask for the service you need and give your exact location, including the town or city. Local police: call 101 to report a crime or concern that does not need an emergency response. In London, the Metropolitan Police covers most of the city; the City of London Police covers the City of London. British Transport Police: speak to an officer or station staff about railway incidents. For the tissue-selling scam on trains, text 61016 when above ground. ATM premises or bank: tell staff if a machine has suspicious attachments or appears altered. Also report it to police on 101, or 999 in an emergency. Do not try to remove a device. Card issuer or bank: use the official banking app or a verified contact number to freeze cards and report suspicious, unauthorised or forced payments. Mobile provider: use the provider's official contact channel to report a stolen phone and block the SIM. Embassy or consulate: contact your country's embassy or consulate through its official contact details if your passport is stolen or you need document assistance. Travel insurer or rental company: report the loss through their official claims or support channel. Keep the police reference, receipts and supporting records.

What number do I call in an emergency in United Kingdom?

Emergency police, ambulance, fire and rescue: 999, Alternative emergency number: 112, Non-emergency police: 101.

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