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I am just wondering if it is safe to change Canadian money to Ja. from the guys in front of the hi-lo store. They always seem to have the better rates, and do not have to wait in line at the bank. Any thoughts about this. And what about the new Canadian 100 dollar bills are they accepted down there ?
THANKS
2 more sleeps :)
If you change money on the street you will be plucked like a spring chicken.
"The hand is quicker than the eye!"
THE RATE THEY OFFER IS DIFFERENT THAN YOU GET IN YOUR HAND-don't do it!!!!!!!!!
Short answer - NO.
Here are my thoughts on this: The only business model I can think of that would allow them to make money on this is by short-changing the customer. If you can think of any other way this could possibly be profitable, I'm interested in hearing it.
Good thinking wrtiii!
All of the above.
Use the f/x trader at the hilo or one of the other legitimate cambios. Much shorter lines than the bank and no rip off. If the rate seems to good to be true, thats because it is.
Although everyone is saying no do not do it.I have to say that in quite a lot of times over a number of years I have ran out of changed money and have used these guys frequently.I was never ripped off and I approached them with the amount I wanted sometimes I got it and sometimes I got 200j less but they would tell me beforehand . Personally I have never had a problem.The very very first time a few years back one of them said a rate and then gave me 500j short now I do not know how others are handling this but I was just like hey mr. get your booty back over here I think you just accidentally ripped me off! held my hand out THANKYOU.
Never had any bother since I always get the rate I want
Thanks TIC
see you at Travels on the 30th
good advice from all above
I was ripped pretty good by one of the street guys two trips ago. He was offering 90 vs. 81 or so; he "counted it" in front of me, but when I counted it again at my hotel I was like...1500 short...or around $20 US down the drain. Of course, he was long gone by then, I didn't bother going back.
I had always used the proper cambio...but a friend had suggested doing this to get a better rate...never again. For my greed (getting 9 extra Ja per dollar would have netted me about $12 more) I lost $20.
Brasi = dumb tourist that time.
I always change my CDN at the HiLo. If you are there anyway why not just take the few steps to the FX trader. Their rates are good and sometimes I find they are a few J$ more than Scotia.
example.......
you want to change 100.00 US into Jamaican............he will count out the correct amount in front of you, you are still holding you 100 dollar bill..........he will give you that wad, and you will turn over the 100.....ALL OFA SUDDEN!!...."**** Man I shorted you".........he says give me dat back for recount, somtime during that recount, he might say..."Hey Mon, dat cop is watchin me, or dat store mananger is comming and hurry the count will be right and hand it over to you again....BUT FROM HIS OTHER HAND!!!!!! in his other hand he has a second wad of Jamaican money but NOT! 100 US worth.....your in a hurry by now so you dont get busted..so you stuff it your pants and wait till later to count it........
(dont even bother to go back...he can make him self invisable too!....lol)
MERRY CHRISTMAS
How do I know so much about this subject???????................."I had a first time too".........:) :)
yah - the operative word in that sentence is "SEEM". of course they will say that - that's the hustle. also known as "bait and switch", etc.Quote:
They always seem to have the better rates
not to say ALL of them will do that ALL of the time - as tictoc says sometimes you might get a legit exchange - but that is the exception, not the rule.
if the HiLo is closed, there's an ATM machine right there, in a pinch you can just withdraw cash in $JMD, and it's converted at the same exchange rate as you would get at the bank or cambio.
It is terrible advice to change your money on the street. It is illegal. The reality is that since the Jamaican dollar became legally convertable there is no honest reason for anyone to give you a "better" rate than the cambios or banks.
The only people who need to exchange money with you are legally unable to do it in a cambio or bank because of the money laundering laws. If you choose to change money with someone in the street, you are dealing with someone outside of the law. There are serious money laundering laws that have been implemented since 1998, and by exchanging money on the street - you are actively participating in a serious crime. Money laundering crimes can draw a fine not exceeding one million dollars or imprisonment for a term not exceeding five years or to both such fine and imprisonment.
As side note, just the other day I was talking with a female tourist who thought she was getting a great deal to change money outside the cambio. She said she counted out the money, then somehow received less than she had expected to receive. After she discovered the "error", she went back to the money changer and demanded the rest of her money. To make a long story short, she ended up getting a punch to the face when the problem escalated into a drink throwing session. She had no legal recourse since she was engaging in an illegal activity.
So in addition to the fact you have a very strong likelihood of being scammed, you also face the chance to have a vey costly five year "vacation" at the institution of someone else's choice.
Changing money on the street is terrible advice...
:eek::eek::eek:
I did not know it was illegal - off to the cambio now
In 25+ years I have never exchanged on the street. I'm too smart, listen to others here on N.com. Nothing but a rip off, for sure. Cambio for me. Surprisingly the bank had better rates in the summer (NCB), but I'd already been exchanging at the cambios. Opposite from what it used to be.
Geez... there's that double word again. smart, smart this time. I really do only type it once. It just shows up as having been typed 2X.
Yvonne...I don't see the word 'smart' written twice except in your second post. ??
If you change money on the street your a** will be "smarting"............which will make you a smart a**
...............................forgive me..............sometimes I can't help myself...........
The Chinaman places have better hours and since they seem to live on lower profit margins they are a win for me over the Cambios. Plus they don't ask for ID....then again I've forgotten my ID at Cambios and had locals (that I knew) walk in with no ID and exchange my money.
Random people on the street exchanging money......if I could convince them the Mexican dollar was equal to the USD I would give it a try.
Limo Mon #1 rule never never exchange money with street people. Why you ask.
They have way to many ways to cheat you and in the end they will. Most will offer same rate as bank , but they will cheat you. DONT DO IT . Soon Come Limo mon!
Only changed money on the street one time,was a holiday and banks and cambios were closed, and guess what got ripped for $1000 j this guy was real good so it was like a tip for getting away with it! I mean I thought I was gonna get ripped so made him count it and hand me each bill one at a time! when I counted after some how it was short $1000!
Now that's really strange & it gets even stranger. I copied & pasted the post from the board & when I posted it, there WAS only one smart. As I view it on the monitor, smart is there, twice in a row. Was then, still is now. This has happened a few times w/ my posts & I've seen it in other people's posts, too. I thought it was a board gliche. Now I'm thinking it's a computer gliche. Thanks, Lisa. Now at least I know it's on my end. The word that is doubled is always the last one on the line, second time it's there is on the next line. Go figure.Quote:
Originally Posted by Bnewb
Anyone remember the guy's name that changed money up by Times Square that got robbed and shot some years back.Nice guy never ripped you off and I'm glad he survived.Another reason to go to cambio you don't want to be in the middle of that.
The reason (as was explained to me) for them giving a higher exchange rate is,that they work for the drug lords who need hard currency. Basically they are laundering the money before its taken out of the country. A few points for a drug lord is nothing. There is a guy that makes his rounds every day. he doesn't short change people (counter productive to his business). He knows all the employees, and they are happy to see him.
I wouldn't change money on the street
And what about the new Canadian $ 100 dollar bills are they accepted down there ?
THANKS
????change to US before you go????I always do......
NO need to convert to USF ..you are losing points on every currency conversion .. cambio is FINE with Canadian funds ..as always ..and especially now that our currency has gained huge on the greenback ..As for the 100,s ..not sure ..but I'd be surprised if it was an issue ..No need to bring too much cash with you .. ATM's are plentiful and dispense in Jamaican or USF ..
The best advice I can give you here is to LEARN the Jamaican currency exchange and use Jamaican as much as possible ... this will save you untold money .. remember be generous ..but more importantly ..be discreet ..
Back in 1991 when k went the first time, the rate was 8:1, but we tr aded money at the craft market for 14:1.. Not sure of legallity, but it made our money go allot further.. It was sooo long before i returned. I soon realized things had changed, especially the rate.. In 91, they didnt cheat us. But i got burnt for a small amount in negril 2 yrs ago on the street.. Never again.
Seeing guys waving wads of cash trying to entice me to "do business" just didn't seem right to me. Didn't give it much thought at all, it was simply a gut feel. I have never used them and never will.
I normally bring enough US currency to get me to the hotel plus tips and food/drink along the way. After that it's the ATM for this guy.