Major Travel Scam At ATM Machines In Europe!
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- เผยแพร่เมื่อ 19 มิ.ย. 2024
- There's something strange going on with many ATM machines around Europe, including Euronet, Eurobank, Alpha Bank and others, in which they're offering people a bad exchange rate to withdraw cash, which costs them lots of money.
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Major Travel Scam At ATM Machines In Europe!
I filmed another video clip at one of the ATMs in Greece, to show exactly what you will see when you go to withdraw money from one of these corrupt ATM machines. I will make another video soon including that clip and also try to break down the situation in a more concise way. But here are the basic points to keep in mind:
#1. Do not use Euronet ATM machines! They're everywhere in tourist areas and hard to avoid, but try to find another ATM. Unfortunately they aren't the only offenders. I ran into the same issue at a Eurobank machine (which was the one that charged me the extra $50) and also at an Alpha Bank machine. So be wary of any ATM at this point and read every screen on the machine very closely as you make your withdrawal.
#2. Know the current exchange rate for your home currency versus the currency you are withdrawing from an ATM, so that when a screen pops up stating the currency conversion they are offering, you will know if it's a fair rate or not. If it's a bad rate or you're not sure, cancel the transaction and find another ATM.
#3. In general, if an ATM (or a credit card machine) asks you to accept a currency conversion, you should reject it. Legitimate ATM machines do not ask you to accept an exchange rate. They may ask you to accept a withdrawal fee, but they shouldn't ask you to accept an exchange rate. They should automatically give you the current standard market rate (which will be very close to the rate stated on websites such as xe.com).
#4. After making any withdrawal at an ATM, double check your bank account to see how much was withdrawn, and match that up with the current exchange rate to make sure you weren't overcharged.
#5. If it turns out you were overcharged, contact your bank, appeal the charge and request that the overcharge be refunded back to your bank account. I did this and was refunded $51.
#6. The CEO of Euronet is Michael J. Brown. Feel free to get in touch with him if you can, say hello and let him know what you think about getting ripped off on your vacation!
isn't this the job of some monetary regulatory department within the government to rectify these anomalies? Here in HK for example I'm sure these kind of things will be stopped within 24 hours.
**I would recommend Charles Schwab Debit Card - **No foreign transaction fees ever **No Atm Fees (all fees are reimbursed world wide)
Sorry Gabriel nothing new here, you just choose a currency conversion instead of none, it's been like this for years. The other "scam" the Brits have done to them when paying by card is asking if they want to pay in £ instead of local currency, they then have a double exchange rate charge instead of a single. Always pay in local currency.
beebeer54 Good to know!
Gabriel Traveler Some American banks no longer require notification before traveling outside the country. Also there are banks that don’t charge foreign transaction fees for use of their debit cards outside the USA.
long story short: always choose "withdrawal WITHOUT conversion". That way, YOUR bank makes the FAIR conversion for you.
andromedar1977 Or make a Revolut card and you will have the best exchange rate and the coolest app, Here is my support for you,feel free to take advantage of this promotion and sign up with my link and get 10 € after your first purchase with your free Revolut card. revolut.com/referral/alinconuo!G10D21
We used credit cards that who dont charge foreign transaction fees actually very useful.
I am currently in a place that is a bus ride from the outskirts of a big city (Warsaw), and there is only one ATM in town, and it's one of these outrageous exchange-rate ATMs. And it wouldn't let me choose to have the charge be in the local currency, so it was either this, or no pizza delivery.
I have also noticed over the last few months that most of the time when I make a purchase, I'm given the choice to have it be in USD (at a big fee, and who knows what exchange rate) or the local currency, but at least I am given the choice!
There's very little fun in it, but let me still call it a fun fact: Euronet is a US company, from Kansas.
Michael J. Brown is the a-hole in chief: www.bloomberg.com/profile/person/1899524
Its not just euronet tho
It is incredible that this is going on and has for years. I have stopped old people on a few occasions cause I saw they were doing this. Those banks are just criminals!!! Good that you make a video about it!!
Yeah Gabriel, best to only use ATM's at Bank Buildings and avoid all others.
Well done spotting this 'Scam'.
That seems like a very good idea!
That and making sure that your ATM card is on the network that they use.
I would also tend to think that ATMs of well-known banks in that country are not going to screw you.
I think the last thing you would want to do would be to use a "convenience ATM" in a dodgy convenience store or bar.
I notice this year on Ikaria Island that theres now a 2.5 euro charge attached to any withdrawals , even on an international money card
@@philshea7525 That 2Euro50 charge is a disgrace :( Being charged to access your own money is beyond insult.
When I use my cards in croatia I usually feel like I profit from the exchange rate I get
This is a private ATM,not a bank and it works like this. The company that has those ATM's in Italy has the machines in prime locations where a lot of tourists pass,that means expensive rent(500€+/month). Every transaction is taxed by the government. For example if you take 100€ first you need to pay the transaction between your bank and that ATM,then the fee of the ATM that can be 4€. The ATM company needs to pay taxes for those 4€,then the rent for the space,the armed personnel that puts money in that ATM and everything else. And you want all that free? Or to pay like 1€? Also when they make conversion from another currency,the difference between buying and selling is max 5%,that means without the extra fees this service is impossible. You need to compare it with an automatic machine that gives you beverages. You put 1€ you get a bottle of water that they pay 15¢, that means for every 100€ of sold bottle of water he makes 85€ of profit,when you change 100€ the spread is max 5€. Without the extra fees the servise is impossible
Scammed in Europe by American business. Pretty ironic 😂
Banking is basically all globalist at this point. So called country of origin is increasingly irrelevant.
His point is that anyone can claim a country of origin and file a company name in another country, so it is not "that's that".
@Kristof Alexy You missed how more than one bank was involved in this, if you had watched the video. Not just one.
@Kristof Alexy Notice the 8 likes to your zero also. You can give yourself a like and have one. Seems a number of people are catching on to the globalist financial scheme. Then there are those who fall for the divide and conquer scheme, and seem to not miss a chance to take a shot at an individual nation.
@@royal1investments damn
Thank you for calling out this "legal scam"! These are a real problem in tourist areas. Cities put up signs to watch for "pickpockets", I believe it should be changed to watch for Euronet Machine.
I heard somewhere in Czech republic euronet atm machine put a sign "warning - this atm will rob you!"
Great info. Saw the same machines in Czech. You really have to be a smart tourist these days in all ways, keep keeping us informed.
Excellent video. We totally avoided Euronet ATM's when we were in Europe this summer (Germany, Austria, Slovakia & Czech Republic). I like an ATM connected with a bank that either I know or seems like the main bank in town, like Deutsche Bank or Bank of Austria. Gabe vs. The Banks, I love it. Banks/credit cards (at least American ones) also totally rip people off with the huge interest rates they start charging if you don't pay on time, 25-30%, which to me is loan shark territory. The American Congress never does anything about this and I guess we can all figure out why. Might as well make loan sharking legal while they're at it. I read once that in Iran (at least once upon a time) they didn't allow banks or credit cards to charge more than 10% interest. Iran did it. I wish the U.S. would too.
Legalized robbery even in the usa. Congress owned by banks, the reason for legalized loan sharking by financial institutions.
in Düsseldorf in the oldtown there are many of these yellow/blue ATM's.. when i see tourists going to get monew from these i tell them go to a german bank ATM better..
I was thinking the same thing. In Berlin I see the blue and yellow Machine everywhere in tourist zones and try to tell people to go down the block to Commerzbank, Deutsche Bank, Postbank etc zB...
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yea i hate going to these dodgy no-name atm machines. i always go with a large recognised bank.
Just a quick tip : Use ATM's from major banks. We as EU citizens can withdrawl for free in the entire EU when these types of ATM's are used.
Banks are like snakes. Always be careful whenever you're around and dealing with them
lurkmore.to/%D0%A0%D0%B5%D0%BF%D1%82%D0%B8%D0%BB%D0%BE%D0%B8%D0%B4%D1%8B
Euronet is NOT a bank. That's the source of the problem actually.
@@RoScFan Don't worry. Banks are no different than Euronet.
This is very useful, good to know. Hope you're enjoying Greece
I spent my vacation in Greece, in the first half of September! Watching you, my vacation keeps going! Thank you Gabriel! Stay in Greece as long as you can! All other places in Europe, are cold!
Mid of October now, and it is still summer the whole week will be summer like , acc to meteo!
Omg I came across the exact same thing at EuroNet ATMs with my debit card 3 months ago in Europe. I didn’t understand what was going on and I thought there was something wrong with my card . I had trouble getting cash out of ATMs and my debit card couldn’t work at a lot of restaurants and shops , and I didn’t have any money on me....... I was so freaked out that I was gonna end up sleeping on the streets lol ................ ( My first time ever in Europe and I was traveling solo ) 😂😂 ........ I thought I was the only one who had this ATM problem and it almost felt stupid to share this story , after watching this I know I wasn’t alone ......... I’m so glad that you made this video , it actually warmed my heart 😂
Who runs these banks? Obviously crooked
good that you made it back ok!
Aspen S. :))
Thank you for shering your expiriance ! Very useful !
Thanks for the advice man!
Thank you Gabe. Another example of how you truly care about your viewers. I admire that so much.
Glad you figured it out gabe and thanks for letting us know about this scam!
Thanks Gabe!! Super helpful info. I look forward to seeing the next video with more detail.
Beautiful little sea side town. I love it! Thanks for the heads up on the bank scam. Tourist have to be very careful when traveling. Take care Gabriel. 😁
Thank you so much for this valuable information, I will always try to remember this. Take care.
Gabe, you are a travel warrior! All that B.S. would stress me out big time. lol
Wish I would've had this advice before my Europe trip back in July. I just settled for ATM's that charged a certain percentage of the total amount you wanted to withdrawal. Now I know for the future that there are multiple ATM companies and to really seak out the ones that are fair. Thanks Gabriel
Wow thanks for the information.
Thanks for sharing this information. I experienced this last week in Croatia at Euronet stand alone ATMs. I'm surprised they get away with completely ripping tourists off.
I'm not surprised at all, it's collusion, "greasy palms" as we say in the US - straight up corruption between those who own the ATM's & politicians who let these criminals get away with this shit.
Thanks for this Gabriel x
Really appreciate the great tips and how you keep everything so real. Keep up the great vids.
Thank you for this video!
Very informative, thanks for posting such a helpful video, long time fan of your travel videos.
Thank you so much for sharing this
Like mentioned by others, these are not really ATM's from banks. Always use ATM'S from known local banks. It's probably the saver option
Does anyone know how to spell? I am really tired of English speakers being retarded
Some banks use this scam too.
@@bertimus7031 Could you explain what you mean with "English speakers"
Maybe I'm tired of people that always use expressions that don't make any sense! ;-)
Be constructive and tell what's wrong instead!
@ok 01 damn
Thanks for this useful video. I was recently in Warsaw and Kraków, Poland and in tourist areas the ATMs I tried offered very poor exchange rates. The UK pound was worth 4.95 Polish zloties though the ATMs provided 4.4 zloties per pound. I walked away and always withdraw money from ATMs away from tourist areas. It's very important to check the rates in advance of withdrawing money and look carefully at the ATMS on screen information during the transaction.
Wow!.. good info..thx mate..safe travels ...😎🤟
Very helpful thank you!
Hey Gabriel, excellent video my man, this is a HUGE issue in the EU with euronet at the moment. They also charge HUGE "fees" to withdraw money if you have an EU account. They tried to charge someone i know 29€ as a "fee" even tho their account is an irish account and thus there was no exchange rate. Ultimately they are crooks and this practice is now supposed to be illegal {predatory practices} and they get away with it by claiming its an administration fee for the convenience of using their atms.
♥️A lot of thanks... Gabriel... 👍👍💜
Thanks again,Gabe !!!
One of the reasons I like about watching videos like this one is the info you give that will help me in my travels.
Thanks for posting Gabe... 328k subscribers are in the know now!!
Brings back some memories seeing that place! Hope you can get to Spetses at some point - great little island!
Thanks for passing that Info. on.
To add to this it is the same thing when making purchases and they ask you in Euro or USD. Always pick Euro.
Thank you for all this important information.
Very true Gabriel, always pick local currency when paying a merchant. Avoid Euronet atm machines, use a bank atm and at a bank atm you will be asked” with or without conversion.” You should choose without conversion because their conversion is a rip-off. Your banks conversion should be the official conversion rate. I live in Europe 3 to 4 months per year for the last ten years and that has been my experience.
Great information, thank you Gabriel. Planning a trip next spring and summer through the Mediterranean islands and I will keep an eye out for this scam
Great video Gab!
Nice tour 👍🏾
Thanks so much, your information is going to be really useful when I go to Turkey in May 2020 for a month.
I suppose if your always going from one country to the next your bound to get problems that crop up, but with these ATM's I have heard about these before vaguely, but it's good that you spell it out about these scammers .
Yeah this happened to me in August at a Sainsbury's ATM in the UK. Was really annoyed and will not use their machines ever again.
So the ripped-off tourist says :"Gee..I should have paid more attention in math class !!"
Just subscribed , very interesting love Europe nice to see the sun again . best wishes. Steve UK
Great info
Unbelievable that some European bank regulating authority hasn't fined the banks involved with this scam!
Excellent info, re: the ATMs and their corrupt dishonesty; thank you, *Gabe!*
It is robbery with violence to ones intelligence
You and your love of museums and churches, Mate ... ;)
I am beginning to wonder HOW in the Hell anyone can avoid being scammed in one way or another whilst they are travelling.
To my mind, it just seems impossible not to fall into one trap or another.
I love how you'll be narrating something then get distracted ... :D
I encountered the same scam in Thailand and was only aware of it after reading someones blog on trip advisor. Thanks for making more people aware of this.
Good video information !
I been living in Dublin since march and happens here too with most atms, I just tap the option to get the convertion rate from the bank instead of the one the atm offers
Sounds very confusing. Thanks for the great information
nice that you warn people to these scams, i told my buddy this summer to do the local currency as many more places are giving the option of paying in dollars or euros. always do euros. i saw those atms, but avoided them. used the big national banks and carried some cash. never exchange money at airports. even in Paris saw exchange places charging 15%. know the commission and exchange rate so you dont get scammed.
We stayed at the Paradise Hotel last month and enjoyed it. We missed our ferry to Patmos and had to stay a night on Kos so we needed a quick cheap place and it was perfect. We enjoyed exploring Kos and the history of the island but it is more touristy than the smaller islands nearby.
Great video Gabriel. Honest guide did a video kind of like this. It's crazy how these companies can get away with this. And euro bank is a bank based in USA. It's in Oklahoma from what I understand from honest guides video. Keep up the great video man.
Thank for revealing this bank subterfuge!!
well done gabriel for letting other travelers know thank you
Wow..thank you so much!
Just got back from Greece. Found the same thing. But i was charged even more. Everything on the internet says to get your money from the atm for the better rate. Not true.
Great info - this is why people hate banks . 😂😂😂
info? what info?
Thanks
I'm just back from Poland and the same happened to me. I had a limited amount of money on my debit card and so I ended up having to do some busking.
Happy travels .
I love this video; it's important to know the ATM machine for change; thank you.
Hi Gabriel, I remembered you first mentioned this in Mexico, now I think the problem is there are independent ATM owners who tweak these machines there not owned by the bank but by individuals. So can own your very own machine or machines. Its like taxi cabs in New York City had fast timers on the meters and were overcharging the customers to make more money off of them. This may be what's going on around the world.
I came across in Croatia at Sberbank as well. I chose without conversion but the transaction failed for some reason
Salut! Voi folositi cardul Revolut? Îs curios daca e mai bun pentru călătorii decât cardurile tipice de debit si credit. Ați folosit obiectivul fuji 16mm 1.4? Cum e pentru vlog? Prin ce tara sunteti acum?
Yes, these are all over Greece. I saw the exchange rate they were offering and I saw that it was terrible. I chose the Euro option and let MY bank do the exchange rate. They must be raking in the dough with this scam. They want you to think it's convenient and predictable to see the amount up front, but it's just a rip off.
Very informative video..
THANK YOU SIR! I just came back from Greece and used one of their ATMs. I honestly don't remember if I was a victim of that scam or not, but I'll remember your advice the next time I'm in Europe!
Thank you so much for this video, I'll be in Athens in a few months so that was very useful! Cheers.
try to get a Revolut card better
I believe that there needs to be a European financial law put in practice to fully banned Dynamic currency conversion services on all terminal including ATM , Credit card Debit card merchant terminal and only have local currency optional on ATM , Credit card Debit card merchant terminal or have a European standardised which caps the Dynamic currency conversion services markup cap at 5%.
It also happens in shops Aldi Liddell etc always use euros
awesome Gabriel,,, may i ask what type of camera are you using? Please and thank you
Thanks. Gopro 7. Camera info is always listed in the description.
Thank you so much for the info i didn't knew that and i got an awful exchange rate
Thanks Gabriel
Ran into this a few weeks ago at the Krakow airport at a Euronet ATM. I cancelled the transaction and when to an ATM at a real bank downtown.
Im like you Gabriel,the exactly same thoughts about currency exchanges.Great video.
the bad guys are actually the card companies (which are American) it has nothing to do with the European banks. The bad exchange rate is theirs, if you choose the second option , your bank will make later the conversion so the exchange rate is not known at the time of the withdrawal.it is called DCC(Dynamic Currency Conversion) btw never use those ATMs with EURO, CASH (or whatever else) signs , they can have other, higher charges too. always use (if possible ) an ATM of a well known bank.
it only works on ATMs , on POS terminals you do not have to choose.
Unfortunately this also happened when I used an Alpha Bank ATM right in front of the bank.
@@GabrielTravelerVideos OK not Greek banks ;) something like Commberzbank , Deusche, Barclays. but always choose the second option. Your bank will have a better exchange rate, always.
Not quite so Stefan. The bad exchange rate is presented by the bank, and profits the bank. In fact the good exchange rate belongs to the card companies (Visa or Mastercard).
@@ksolobaric You are wrong. If the ATM is not owned by a bank , which bank "presents " that bad exchange rate? In fact the conversion has to be in your bank when the transaction arrives after 2-3 days. therefore the ATm cannot present you this echange rate at the time of withdrawal. ANd your bank does not differentiate what kind of foreign currency transaction it is , they simply use their current exchange rate regardless of the type of transaction,ATM POS, wire transfer....
happened to me twice as well a few weeks ago. Alpha bank and euro bank atm
Whenever i need to take money from an ATM machine in europe i go to the ones attached to a bank rather than those random mobile ATM's.
I noticed this year in on Ikaria Island that they are now charging 2.5 euros for each withdrawal. Maybe have to start withdrawing larger amounts
This is true in Mexico too. Thanks for posting this.
See Gabe, so not bad bad European banks. bad bad card company stealign from Americans even when they are abroad.
Yep, ran into this myself. At main train station in Budapest got a conversion rate of 235 Forints to USD instead of around something fair, like 290 to usd. I just assumed I would get a fair rate like I'd always had in prior trips. I found other ATMs that did offer better rates, but best way to exchange was cash. I'd quit bringing cash on trips but now will be using it again.
I remember last Summer in Rhodes, I was really confused when this option came up. I can’t remember which option I went with though.
Yeah it's a reall scam. I noticed the same with global net atms. Basically don't use an ATM if you're in a touristy area. Better get your money from an official bank in that country!
Gabriel the so called "Greek" banks (like Eurobank. Alpha, even the Greek National Bank) are not Greek any more...They are mostly owned by Canadian, Dutch, Qatar e.t.c. ventures
Yes, you have to decline conversion when withdrawing money from the ATM. Declining the conversion means the conversion is performed by the issuer of your card, usually your bank back home. But the new way of getting foreign currency is to use a Revolut or FairFX cash card. These cards can be loaded with the foreign currency so no conversion is necessary at the ATM. It's like you have a debit card in the foreign currency.
We have them in Cyprus too. Yellow and blue boxes! Always use the ATM of a bank of that country. Surprised at Alpha Bank as they are a so called legitimate bank here too!
Kos rhyming with boss 😂
Good video! Show us how it looks like next time ;)
Thank god you took your money back Gabriel...those banks really have to consider and change this atm software for sure...or at least make it more clear to the customers. Why should someone want to pay more? That's ridiculous. That was an info of high value!
I was recently in Brussels, used an ATM in a bank lobby. There was no option for conversion. However, the conversion rate was cheaper than the euros I had purchased from my bank in the US.