How it works:
- Situation: there are some rogue money changers which will advertise very favourable rates.
- Scam 1: the favourable rate is only if you exchange a certain minimum amount.
- Scam 2: tiny footnotes or footnotes in Italian that there is a 20% commission and that the transaction is irreversible.
Places to beware:
What to do:
- Change at a bank, or use your ATM to withdraw Euros from your home bank account.
- Else, make sure to look at the correct exchange rate (buying vs selling), check if there’s a minimum amount required and if there are any additional fees.