What is the "Nanjing Road Currency Exchange Overcharge" scam in Shanghai?

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Unauthorised currency exchangers operate near the Nanjing Road pedestrian mall and People's Square, approaching tourists with offers to exchange at "better than bank" rates. The actual exchange involves a fast count, deliberate miscounting of notes, or a machine that briefly shows one rate before processing at a worse one. Victims often realise the loss only after the exchanger has walked away. Use official bank branches (ICBC, Bank of China) or ATMs for currency exchange — these are found throughout the Nanjing Road area and offer transparent rates. Count all notes at the counter before leaving. Never exchange money with an individual on the street.

Money & ATM Scams in Shanghai

Nanjing Road Currency Exchange Overcharge

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