I’ve seen them almost everywhere I’ve traveled in Europe…
… at airports, train stations, tourist offices, shopping malls, hotels, bars, restaurants, grocery stores, and coffee shops…
They look so very innocent, don’t they?
But be advised…
Every single one of these machines is an expert ripoff artist.
I know… because I learned it the hard way.
Despite being a pretty savvy and experienced traveler, it took me a few visits to the ATM above (at a SPAR grocery store in Budapest) before I realized I was being gouged by a ridiculously low exchange rate.
It pains me, in more ways than one, to admit that Euronet took me for almost $100 before I realized what was happening.
The sheer numbers of these ATMs, combined with the fact that they are installed inside otherwise reputable businesses, leads any reasonable and decent person to conclude that these machines, too, are reputable.
Even the name “Euronet” gives the impression that they are all part of some vast inter-bank network sanctioned by the European authorities.
But I assure you that these sinister robots are most certainly NOT ethical or reputable.
Employing multiple layers of trickery that include suggesting unnecessarily large withdrawal amounts, using deceptive instructions, giving ridiculously unfavorable exchange rates, and charging exorbitant service fees… these electronic bandits prey on unsuspecting tourists 24 hours a day, 7 days a week… and continue to operate, apparently quite legally, with impunity.
Make no mistake. Euronet’s business model is quite simple: Rake in a quarter billion dollars a year by using unsavory means to separate trusting, unwary travelers from their hard-earned money.
What YOU can do…
- Watch Honest Guide’s YouTube Video for a clear and concise description of how the scam works. Related Article: Chris Lettner
- Visit the Euronet ATM Scam Facebook Group where you can read about countless other unethical Euronet business practices.
- Read Euronet’s Wikipedia Article to learn more about this publicly-traded American company.
- Never ever use any of these machines! If you do, then you are part of the problem.
- Spread the word! Use the power of your voice and social media to let all your traveling friends and family know about the Euronet ATM scam.
- If you see another unsuspecting tourist about to use one of these robbers, do not hesitate to warn them.
- Let the owners of the properties who sell space to the Euronet thieves know that you will not patronize their businesses as long as they are in cahoots.
- Check your stock portfolio and make sure you are not an investor in this unscrupulous company.
- Does anyone have other ideas for ethical and legal means of resistance to share?
Together we have the power to expose these predators and put them and their ilk out of business.
Even if you prevent just one other person from falling prey to the scam, you have scored a victory for common decency.
Thanks and peace.