You are traveling to a new country, one you are unfamiliar with and have not already exchanged your currency, mistake number one. Though it can benefit you monetarily to exchange your money upon arrival, it can open you up to a travel scam. One of the easiest travel scams to fall prey to when traveling abroad is when you are exchanging your currency. Not knowing the rates of exchange, not going to a qualified money exchanger, and not paying attention can all lead you to losing money while exchanging your money. Learn common ways this travel scam is used and how to avoid it with Bill Bailey as we take a closer look at how you can avoid the currency exchange travel scam.
Bill Bailey Discusses Falling Prey To The Black Market Currency Exchange Travel Scam
If you think that you are going to save a bundle by exchanging your money at an unqualified location, such as a street vendor, avoiding fees and getting a better rate, you are horribly mistaken. Those who are offering you a better deal that a bank or currency exchange office are out there for one reason, to scam you. Many who fall prey to this travel scam learn later that they were not so lucky when they find that the money they received is fake or far less than they should have received.
Bill Bailey advises you to stay away from the currency exchange travel scam, it is just that, a scam, where you lose and have no financial recourse for you loss. Even choosing an establishment such as a bank can leave you prey to this travel scam as well. Cashiers counting slowly or to quickly may often be a rouse to sidetrack you from the actual exchange and leave you vulnerable to the scam. Be sure that before you actually leave the counter, you count the bills out yourself in order to better protect your money. It is important also to note, that black market exchanges are illegal and as such, you will not be protected if you do get scammed. You are in control of your money, be wise and use only banks and money exchanges to avoid losing out.
Bill Bailey Advises You To Be Vigilant And Avoid Travel Scams
Bill Bailey reminds you that travel scams don’t just happen in one country. Scams such as the currency exchange scam can happen in any country. In order to avoid this type of travel scam, be sure to exchange your money at a qualified exchange. As an experienced traveler, Bill Bailey reminds you to be vigilant when dealing with currency, or you may fall victim to this or many other travel scams.