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EuroNet ATM Scam

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EuroNet ATM Scam

Do not use the EuroNet ATM in Monterosso

I made the mistake of withdrawing Euros from this machine with my Canadian dollar debit card.

I ended up being charged terrible rate for a Euro to USD conversion and then got screwed again when my bank converted the USD to CAD.

I specifically rejected the request to be charged a fixed rate when prompted to by the ATM - maybe the machine is rigged to ignore the customers response.

The ultimate rate I charged should be considered illegal and EuroNet seems to be operating without ethics.

Ottawa, Canada
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7,725 posts
138 reviews
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1. Re: EuroNet ATM Scam

Thechy you have just learned a lesson that unfortunately many fall for. Not all ATM's are owned by banks. Many, especially next to exchange offices or at touristic areas are owned by Exchange companies. Usually very convenient locations. Next time make sure you use a Bank's ATM.

Birmingham, AL
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605 posts
39 reviews
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2. Re: EuroNet ATM Scam

A useful article from Mr. Steves:

https:/…cash-machine-atm-tips

Brussels, Belgium
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34,001 posts
3 reviews
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3. Re: EuroNet ATM Scam

"I specifically rejected the request to be charged a fixed rate when prompted to by the ATM" - this doesn't explain why it charged you in USD for a withdrawal in euros - i.e. your bank receives a debit in USD which of course it then has to convert into CAD to deduct it from your account.

I've heard of problems elsewhere with EuroNet (e.g. Budapest airport: https://www.deutscheskonto.org/en/withdrawing-money-in-hungary/) - but there the issue was not getting a fixed exchange rate after rejecting this, it was precisely the fact that some people will choose the fixed exchange rate, which isn't a good option. But even rejecting that option, I cannot understand why it would charge you in USD rather than directly in euros. In the issue related in the video, the machine was dispensing the local currency (HUF) and gave a fixed rate with the currency of the German card being used for withdrawal (euros) - not some intermediate currency. So your experience involved an extra twist!

Anyway, sorry this happened to you and people should be careful to look for ATMs belonging to banks, and not those with some travel/net/exchange-related name.

Imperia, Italy
Destination Expert
for Italian Riviera
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30,327 posts
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4. Re: EuroNet ATM Scam

Maybe contact your own bank saying that this was an unauthorised transaction. Which it was, in the form that it took.

Italy
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6,661 posts
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5. Re: EuroNet ATM Scam

The local Intessa ATMs offer Dynamic currency exchange. So going with a bank ATM doesn't mean you won't see it. OTOH if you pick € the transaction happens in €

Being charged in US$ instead of C$ is exactly what Intessa does. My guess is the software has a limited number of currencies on offer.

Birmingham, AL
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605 posts
39 reviews
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6. Re: EuroNet ATM Scam

So one should choose the dynamic rather than fixed exchange rate?

Birmingham, AL
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605 posts
39 reviews
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7. Re: EuroNet ATM Scam

So one should choose the dynamic rather than the fixed exchange rate? Which is better?

Sydney, Australia
Destination Expert
for Train Travel
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89,122 posts
14 reviews
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8. Re: EuroNet ATM Scam

Dynamic exchange is when the ATM (or the card machine) offers to charge in your own currency rather than the local currency. This should always be rejected, as the exchange rate will be much worse than that given by your bank.

For example, I once had a hotel bill that the card machine offered to convert to $380.11 AUD. I elected to be charged in the local currency, and the amount on my card statement was $367.58.

Birmingham, AL
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605 posts
39 reviews
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9. Re: EuroNet ATM Scam

Thanks. I thought so. We had a hotel near the airport in Shannon, Ireland that charged us in USD after I had specifically told them (on check in) that we wanted to pay in euros when we checked out. We had gotten a no fee credit card specifically to avoid these exchange rate shenanigans. The desk clerk basically said, "Sorry, it's already done" when we checked out. I was not happy. I kind of wonder if places get a better deal when they charge you in such a fashion that you incur a foreign transaction fee. Maybe I'm being paranoid.

10. Re: EuroNet ATM Scam

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