Travel scamsChanging money

Money exchange scams

112 reported in 76 countries. How each works and how to avoid it.

FranceOccasionalPoor exchange rate when paying in foreign cashA cashier accepts foreign currency but uses an unfavourable exchange rate. This can make the purchase cost more than paying in euros. It is a poor-value payment risk, not necessarily fraud.
SpainOccasionalAirport purchases at a poor exchange rateSome airport businesses accept foreign currency, including US dollars, but use a poor exchange rate. This is a costly payment option rather than necessarily a fraud.
TürkiyeCommonWrong changeThe seller or driver returns less change than you are owed. The trick relies on you being distracted or unfamiliar with the money.
TürkiyeCommonClaiming you paid with a smaller noteYou hand over a large note. The person claims you gave a smaller one and asks for more money. A taxi driver may quickly swap your note for a smaller note.
TürkiyeCommonPoor airport currency-exchange ratesYou exchange money at the airport and receive a much poorer rate than at banks or exchange offices in the city. This is a poor-value transaction, not necessarily fraud.Istanbul
MexicoOccasionalPoor-value currency exchangeAn exchange desk or merchant gives you an unfavorable rate. Rates inside Cancún airport's customs zone can be especially poor. Hotel exchange rates tend to be very unfavorable, while paying merchants in US dollars can also cost more. These are poor-value transactions rather than necessarily fraud.
United KingdomCommonMisleading currency exchangeA 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.London
GermanyOccasionalPoor cash exchange rates and exchange feesA business may accept foreign cash but give an unfavourable exchange rate. Banks may charge considerable exchange fees to non-customers. These costs are not necessarily fraud.
GreeceOccasionalStreet money exchange and counterfeit notesSomeone offers to exchange money in the street or asks you to break a €20 or €50 note. The note you receive may be counterfeit.
ThailandCommonShort-changingYou receive less change than you are owed.Bangkok
ThailandOccasionalCounterfeit 1,000-baht notesA counterfeit 1,000-baht note is passed to you as genuine money.
ThailandOccasionalPoor hotel money-exchange ratesConvenient hotel exchange services may apply high commissions and poor rates. This can be expensive without involving fraud.
PortugalCommonPoor rates at tourist exchange countersExchange counters appear wherever tourists gather. Those closest to attractions typically offer worse rates, so you receive fewer euros for your money.
PolandCommonPoor-value currency exchangeSome exchange offices give much worse rates than other offices. Orange Interchange branches are singled out for poor rates. Airport exchange desks can also have large margins.
VietnamOccasionalPoor or unclear money exchange ratesHotels and travel agencies may offer poor rates or use different rates for different services. Freelance border changers may take advantage of travellers who do not know the going rate.
VietnamOccasionalCounterfeit notes from street money changersPeople exchanging money in the street may give counterfeit notes.Hanoi
MoroccoOccasionalAirport shop exchange-rate markupPrices are usually displayed in euros. Businesses may accept dirham but calculate the payment using their own exchange rate, which can make the purchase more expensive.Marrakech
EgyptOccasionalPoor-rate hotel currency conversionA hotel accepts dollars or euros but uses a poor conversion rate compared with paying in Egyptian pounds. This is a pricing trap rather than proof of fraud.
Czech RepublicCommonMisleading currency exchange offersAn office advertises 0% commission or a good-looking rate but gives a much worse return. The attractive rate may apply only to large exchanges, or the board may highlight the wrong side of the transaction. Staff may falsely say a printed receipt means you cannot cancel.Prague
Czech RepublicCommonPoor exchange rates when paying in eurosA business accepts euros but converts the price at a poor rate. Change may be returned in Czech koruna. This can make a convenient payment much more expensive.
Czech RepublicOccasionalStreet exchange with worthless foreign notesA stranger offers a tempting exchange rate, then hands over expired Belarusian rubles or old Bulgarian leva instead of Czech money.Prague
HungaryCommonPoor rates when paying in eurosA business accepts euros but converts the price at a poor rate. Even well-known businesses may offer an unrealistic rate. Change is often returned in forint.
HungaryCommonPoor exchange-office rates at transport hubsExchange counters in convenient tourist locations may offer much worse rates than offices in the city centre. Rates can also differ between counters at the same station.
HungaryOccasionalStreet money-changing fraudAn unofficial street exchanger offers a poor rate or gives you something other than Hungarian money. You may receive no money at all.
DenmarkOccasionalPoor exchange rates and high commission on StrøgetSome exchange offices offer a low exchange rate and charge a very high commission. You receive fewer Danish kroner than you expected. This is a poor-value exchange deal rather than necessarily fraud.Copenhagen
DenmarkOccasionalBad exchange rates when paying in foreign currencyA business accepts euros or Swedish kronor but uses a poor exchange rate. Paying in a familiar currency can cost more than paying in Danish kroner. Acceptance of foreign cash does not guarantee a fair rate.Copenhagen
IndiaVery commonShort change and disputes over cash paidSomeone gives you too little change or claims you handed over less money than you did. This can also happen at official counters. It occurs across India and is highlighted as a particular problem in Delhi.Delhi
IndiaOccasionalUnusable banknotes passed as changeSomeone gives you demonetised notes or damaged notes that other sellers may refuse. Old yellow ₹500 notes and old red ₹1000 notes cannot be exchanged.
IndiaOccasionalPoor-value currency exchangeThe exchange rate may be much worse than at a city-based money changer. A poor rate can cost you money even when the exchange is genuine.Chennai
BulgariaCommonCounterfeit money from street exchangersSomeone offers to exchange your money, sometimes at an attractive rate, and gives you fake banknotes.
BulgariaCommonPoor exchange rates and unclear feesAn exchanger buys your currency at a very poor rate. Fees or taxes may also reduce the amount you receive.Sofia, Burgas
RomaniaOccasionalPoor exchange rates and misleading rate boardsAn exchange office offers a poor rate or draws attention to a rate that does not apply to your cash transaction. In Mamaia, offices may show separate rates for travellers' cheques and cash.Bucharest, Brașov, Constanța
RomaniaOccasionalHidden exchange commissionAn office deducts commission that is easy to miss, sometimes printed in small letters. The final payout is lower than the headline rate suggests.Constanța
RomaniaOccasionalStreet money-exchange currency switchA stranger offers to exchange money, then gives you a bundle containing Polish złoty instead of the Romanian lei you expected.
South AfricaCommonHidden currency-exchange commissionsThe displayed exchange rate does not show a large commission. The amount you receive can be much lower than expected.
Dominican RepublicOccasionalPoor exchange rates when paying or changing moneyA purchase paid in dollars or euros may use an unfavorable exchange rate. Airport and harbor exchanges also offer poor rates. A poor rate alone does not prove fraud, but it can make your purchase or exchange more expensive.

Reviewed by @snuck