Question 1

What is the "Street Money Changer Short-Change" scam in Fuerteventura?

Accepted Answer

Informal money changers approach tourists around Corralejo market and near the Morro Jable seafront promenade offering exchange rates that appear better than bank rates. They use sleight-of-hand to short-change customers, fold bills deceptively, or distract during the count to hand over less cash than agreed. Currency exchange outside licensed bureaux de change is unregulated and offers no recourse. Use only official bank branches, ATMs, or licensed currency exchange offices (Oficinas de Cambio) for exchanging money. There is no reason to use an informal street exchanger on a euro-zone island — your bank card will give a competitive rate at any ATM. If approached, firmly decline.

Question 2

What is the "ATM Dynamic Currency Conversion" scam in Fuerteventura?

Accepted Answer

Standalone ATMs in Corralejos town centre and at resort shopping centres in Caleta de Fuste and Jandia routinely offer dynamic currency conversion. Tourists are asked to approve the transaction in their home currency at a rate that is 5 to 12 percent worse than the interbank rate. This is one of the most widespread and easy-to-avoid financial losses affecting tourists on the island. Always choose euros when the ATM prompts you to select a transaction currency. The local currency option is always better. Decline dynamic currency conversion on every ATM and card payment terminal.

Money & ATM Scams in Fuerteventura

Street Money Changer Short-Change

ATM Dynamic Currency Conversion

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