Changing money is a small task that scammers turn into a quiet loss. An unlicensed changer offers a great rate, then uses a fast, confusing count to hand you less than you are owed, or slips you notes you cannot spend. Sticking to proper channels avoids it.
How this scam works
An unlicensed street changer or kiosk offers a rate better than the banks.
During a quick, chatty count they short you, switch bundles, or fold notes to double count.
They may hand back torn, marked, or withdrawn notes that shops will refuse.
Red flags
- A street rate that beats banks and licensed exchanges by a lot.
- A rushed or distracting count of your cash.
- Old, torn, or unfamiliar notes handed back to you.
What to do
- Change money at banks, airport counters, ATMs, or licensed exchanges only.
- Count your money fully and calmly before you leave the counter.
- Know that certain old or damaged notes are hard to spend, and refuse them.
How to report this scam in India
For cyber or card fraud, report at cybercrime.gov.in or call 1930. See the travel scams guide for more.
Frequently asked questions
Where should I change money in India?
Use banks, ATMs, official airport counters, or licensed exchanges. Avoid unlicensed street changers offering rates that seem too good.
A note was refused at a shop. Why?
Some old, torn, or withdrawn notes are hard to spend. Always check the notes you receive and count your full amount before leaving any exchange counter.
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