converting money on street

[brasi]

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.

[SLP]

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.

[Rambo]

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".........

[MissBlue]

They always seem to have the better rates

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.

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.

[Rob]

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...

[TiCtOc]

I did not know it was illegal - off to the cambio now

[Yvonne]

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.

[Yvonne]

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.

[Bnewb]

Yvonne...I don't see the word 'smart' written twice except in your second post. ??

[captaind]

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...........