Scam in BoliviaChanging money
Unfavourable money-exchange quotes in Bolivia
How it works
A changer offers a less favourable rate to a visitor who has not compared quotes. A displayed rate may differ from the rate available when you ask. In Cochabamba, some street changers offer worse rates for US$20 notes or smaller bills. A poor rate alone does not prove fraud.
Warning signs
- The quoted rate is worse than nearby offers.
- The rate changes after the changer sees your notes.
- The changer will not state exactly how many bolivianos you will receive.
How to avoid it
- Compare several quotes before handing over cash.
- Ask for the actual rate rather than relying only on the sign.
- Confirm the final amount and any fee.
- Walk away if the terms are unclear or unattractive.
If it happens to you
If you have not completed the exchange, decline and try another business. If the amount differs from your agreement, raise it immediately while keeping your safety in mind.
- Get somewhere safe. During a violent robbery, put your safety ahead of your belongings.
- Seek medical help promptly if you are injured or think you were drugged.
- Block stolen cards. If your phone is missing, use another device to lock it and secure important accounts.
- Write down the time, place, agreed price and what happened. Save receipts, messages and any vehicle or company details you already have.
- Report the incident to police. For taxi problems, also contact the company; in Cochabamba, report overcharging to 800-14-0201.
- Contact your insurer and, if your passport is missing or you need help, your embassy or consulate. Keep copies of reports and receipts.
What travellers report
Posts about this scam on other sites, summarised in our words. Open one to read the original.
Questions
What is the unfavourable money-exchange quotes scam in Bolivia?
A changer offers a less favourable rate to a visitor who has not compared quotes. A displayed rate may differ from the rate available when you ask. In Cochabamba, some street changers offer worse rates for US$20 notes or smaller bills. A poor rate alone does not prove fraud.
How can I spot it early?
The quoted rate is worse than nearby offers. The rate changes after the changer sees your notes. The changer will not state exactly how many bolivianos you will receive.
How do I avoid unfavourable money-exchange quotes in Bolivia?
Compare several quotes before handing over cash. Ask for the actual rate rather than relying only on the sign. Confirm the final amount and any fee. Walk away if the terms are unclear or unattractive.
What should I do if it happens to me?
If you have not completed the exchange, decline and try another business. If the amount differs from your agreement, raise it immediately while keeping your safety in mind.
Where in Bolivia does this happen?
Exchange agencies and street money changers. Businesses accepting foreign cash may also offer poor rates.
How common is this scam in Bolivia?
Common. Tourist theft and scams are a concern in Bolivia, especially in crowded areas and around tourist transport. Main risks include pickpockets, fake taxis, fare overcharging, dishonest money exchange and distraction theft. Some incidents are more serious, including taxi robberies and passengers being drugged on overnight buses.
Are there similar scams in Bolivia?
Yes: counterfeit notes during money exchange, short-changing during money exchange.
Who can I report it to?
Police: report theft, robbery, impersonation or suspected fraud once you are safe. Give the location, time, description and any evidence. Ask for a written report for insurance. Cochabamba municipal taxi-overcharging service: call the toll-free number 800-14-0201 to report taxi overcharging. Taxi company or dispatcher: give the company the journey details and any vehicle information. In Cochabamba, a radio-taxi dispatcher can also be asked to confirm the fare. Card issuer: use your banking app or the issuer's verified contact number to block a stolen card and report unauthorised transactions. Embassy or consulate: contact your country's embassy or consulate for a stolen passport or serious incident. Embassies are based in La Paz, and some countries also have consulates in Santa Cruz. Travel insurer: report the loss through your insurer's claims or assistance service. Keep police paperwork, receipts and other evidence. Hotel or hostel reception: report a bag theft during check-in immediately. Ask staff to record what happened and help you contact police.
Reviewed by @snuck