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How to make currency exchange safe in China?

Have you ever been tricked into doing business in China?

Let me tell you a story about the currency exchange swindle.

A sudden phone ringing shocked me from my dream at 1 o`clock in the morning, and the caller was my customer who does business in Guangzhou for 2 years. The man is a garment wholesaler sourcing and buying all kinds of apparel from Guangzhou clothing markets.

He was cheated.

He said, he made exchanged US dollars for RMB in one of the Guangzhou markets today from a middleman. The amount is 10,000RMB. But it was 3,000RMB short when he got back to the hotel and counted again.

And he asked me if he had met a swindler because he got back to the hotel directly from the market once put the money in his bag, and was sure that he did not lose money or spend money.

Then where did the money go? Is there any way to get the money back?

My drowsy head sobered up. I am not sure if it is a cheat in a short time. But it recalled another story.

2 years ago, one of my foreign buyers told me that he made an exchange with a middleman in the market, got back 2000RMB counterfeit money, and the cattle can`t be found anymore. Intuitively, this is a difficult case to solve. They will never admit it if they really cheat even if you caught them. You can’t prove that he gave you money less, or you lost it or spent it. And some scammers will turn off their phones once they have tricked you, and they will disappear.

Actually, the scammers are inconceivable.

So my dear friends, how to make the currency exchange safe then? please pay attention that you`d better take the 2 choices below.

  •  Go to the Bank
  •  Go to the professional exchange company

Although their exchange rate is lower than the scalpers, it is absolutely safe. These scalpers are used to cater to the greed of people with a high exchange rate, and you will fall into their big hole if you want to make a small profit.

The most important is that if you do encounter this kind of swindler, do not eat humble pie, you must call the police, and try your best to get the money back. The foreigner is very wise this time, he turned to me, and also called the police. The police found the scalper and take back the money for him.

At 4:00 in the morning, he sent a message to me before on board. “I am very happy to get the money back, thanks for your help”.

In fact, the policeman was the one who should be most grateful.

So my friend, just be careful if you want to make the currency exchange. Make sure to take the safe way.