The Benidorm Currency Exchange Scam

What is the Benidorm Currency Exchange Scam? The currency exchange scam is big business in Benidorm – and unfortunately it is perfectly legal. So if you get scammed you can expect no help from the authorities.

This is how the scam works…

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In several locations around Benidorm you will come across currency exchange offices. They will have a huge sign outside – telling you today’s exchange rate – always a better rate than you might expect. These places look very respectable, very plush and very bank-like. But they are not banks.

Thousands of people use them. They read the sign, go inside, hand over their Pounds and walk out with a bunch of Euros. But when they get outside and count their Euros they find that they have far fewer than they expected.

They go back inside to query the amount – and a smug member of staff points to some very small print in the exchange agreement. The advertised exchange rate is only for amounts of £2000 or more. Some of them use other cop-outs – but the result is the same – they haven’t broken the law – and you’ve been done! The exchange rate that you actually get in these places is far, far worse than you’d get in a bank or even from your hotel.

YOU HAVE BEEN WARNED
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