Question 1

What is the "ATM Dynamic Currency Conversion (DCC) Trap" scam in Corfu?

Accepted Answer

ATMs across Corfu — including at Corfu Airport, in Corfu Town, and at resort area bank machines — routinely offer travelers the option to complete withdrawals in their home currency rather than euros, a practice called Dynamic Currency Conversion (DCC). This locks in an exchange rate set by the ATM operator that is typically 10–15% worse than the rate your home bank would apply. The ATM interface is deliberately designed to make the DCC option appear safer or more transparent, with the conversion button often larger or pre-highlighted, while the option to decline and pay in euros is less prominent. Always select "pay in local currency" (euros) when prompted at any ATM or card terminal in Corfu. Never select the option to pay in your home currency, regardless of how the screen frames it. If the ATM does not give you the option to decline conversion, cancel the transaction and use a different machine. The same rule applies to card payments at restaurants, shops, and hotels — if a terminal asks which currency to charge, always choose euros.

Question 2

What is the "Money Exchange Short-Changing Near Old Port" scam in Corfu?

Accepted Answer

Currency exchange booths near Corfu Town's Old Port and in the main tourist streets occasionally short-change customers or offer exchange rates significantly below the interbank rate without clearly disclosing their margin. The discrepancy is most significant for travelers exchanging larger amounts of currency. Use ATMs from established Greek banks (Piraeus Bank, Alpha Bank, National Bank of Greece) for the best available exchange rate. If using an exchange booth, calculate the expected amount before handing over currency and count the returned euros carefully. Avoid exchange booths that display misleading "0% commission" signs while offering poor underlying rates.

Money & ATM Scams in Corfu

ATM Dynamic Currency Conversion (DCC) Trap

Money Exchange Short-Changing Near Old Port

Experienced a scam here?