Question 1

What is the "Street Currency Exchange Shortchange" scam in Beijing?

Accepted Answer

Unofficial money changers near tourist areas offer attractive exchange rates but use sleight of hand to short-count cash, mix in foreign currency notes with RMB, or swap the bundle after the tourist has verified the amount. Exchange money only at official bank branches such as Bank of China or ICBC, or at licensed bank ATMs. Never exchange currency on the street regardless of the rate offered.

Question 2

What is the "Counterfeit Banknote Shortchange" scam in Beijing?

Accepted Answer

Counterfeit 100-yuan notes circulate in Beijing markets, souvenir stalls, and informal cash transactions. Vendors sometimes give fake bills as change, relying on tourists being unfamiliar with Chinese currency security features. The notes look convincing under casual inspection but lack the colour-shifting ink, watermark portrait, and security thread found on genuine bills. ATMs occasionally dispense fakes sourced from compromised cassettes at less-regulated locations. Always use ATMs inside major bank branches (ICBC, Bank of China, China Construction Bank) rather than standalone machines in markets. Hold received 100-yuan notes up to light and check for the watermark and colour-shift on the numeral. If change seems suspect, ask the vendor to use a counterfeit-detection pen, which are common at Chinese cash registers.

Money & ATM Scams in Beijing

Street Currency Exchange Shortchange

Counterfeit Banknote Shortchange

Experienced a scam here?