How ATMs in Prague force you to pay hefty charge and bad convertion rate.

This article exposes the currency conversion rate scam of ATMs in Prague. It describes two dirty tricks used by these ATMs, targeting tourists and aiming to force them to withdraw large amounts of money at unfavorable exchange rates. The article provides tips on how to spot and avoid these scams, emphasizing the importance of declining the ATM’s conversion offer and choosing to pay in the local currency when using cards at stores or restaurants.

About Prague:

Prague, known as the “City of a Hundred Spires,” is a popular tourist destination in the heart of Europe. Its rich history, stunning architecture, and vibrant culture attract millions of visitors each year. However, like any other bustling tourist city, Prague has its fair share of scams, and one of the trickiest ones revolves around currency conversion rates in ATMs.

How to Spot the Scam:

These ATMs, operated by a company called Euronet, can be found throughout Europe and are strategically positioned in tourist hotspots. They specifically target tourists with their deceptive tactics. When using a foreign card in these ATMs, they employ two dirty tricks. The first trick is to pressure users into withdrawing large sums of money, far beyond what they actually need. The second trick is offering an unfavorable exchange rate for converting currencies.

How to Avoid the Scam:

To protect yourself from falling victim to these scams, there are a few precautions you can take. Firstly, when using other ATMs, always decline the ATM’s currency conversion offer. By declining it, you ensure that your transaction is processed at the current market exchange rate instead of the ATM’s inflated rate.

Secondly, when paying with your card at stores, coffee shops, or restaurants, choose to be charged in the local currency (Czech crowns) rather than your home currency. This ensures that the transaction is processed at the fair exchange rate and protects you from unnecessary fees.

How to Get Help:

If you encounter any issues or suspect that you have been scammed, it’s essential to seek assistance. In Prague, there are several resources available to tourists. First and foremost, contact your bank or credit card company immediately and explain the situation. They can guide you on the necessary steps to resolve the issue and protect your finances. Additionally, consider contacting local authorities or seeking advice from the tourist information centers, who are well-equipped to assist tourists in such situations.

Make sure to check out our other scam guides.

In conclusion, while Prague is a captivating city, it’s vital for tourists to be aware of potential scams, especially concerning currency conversion rates in ATMs. By understanding the tricks employed by these ATMs, travelers can take necessary precautions to avoid falling into their trap. Remember to decline conversion offers, choose to pay in the local currency, and seek help from your bank or local authorities if needed. By staying vigilant, tourists can make the most of their visit to Prague without falling victim to deceptive practices.