Exchanging your currency without getting caught out comes down to three habits: understanding the true cost of a transaction, checking that the notes are genuine, and only trusting an authorised establishment. Here is how to avoid the most common scams.
The fake "0 commission" trap
The "no commission" argument has become a marketing lure. The problem: a business can advertise "0% commission" while making up for it generously through the rate it applies. In practice, if the exchange rate applied is unfavourable, you pay a hidden margin that can exceed any advertised commission. A commission-free offer therefore means nothing taken on its own.
The only way to compare two exchange offices honestly is to think in terms of the net amount you receive for a given sum, rate and fees included. Always ask how much you actually get at the counter before confirming. At Paris Change, the absence of commission comes with a clearly displayed counter rate: you can review our transparent rates before you even travel, which removes any unpleasant surprises.
The signals that should put you on alert
- An "unbeatable" rate advertised in the window but a different, less favourable rate once you reach the counter.
- Service, "processing" or "small denomination" fees added at the last moment.
- A refusal to tell you the final amount before the transaction.
- An unusually wide gap between the buying rate and the selling rate (the "spread"): the wider the gap, the higher the margin charged.
Counterfeit notes: how to protect yourself
Receiving counterfeit notes is a real risk, especially when you exchange money informally. Euro banknotes have several security features that are easy to check:
- The feel: euro paper is firm and crisp, never smooth or waxy; some of the printing is in relief.
- The watermark: held up to the light, you can make out a portrait and the value of the note.
- The hologram: the silver stripe or patch changes image depending on the angle.
- The emerald number: on the "Europa" series notes, the value figure changes colour and shows a light bar that moves when you tilt the note.
For foreign currencies, the security features differ from one country to another, which makes checking harder for a private individual. A professional exchange office has detectors and trained staff to authenticate every note handed to the customer. By going through an authorised counter, you leave with verified notes, rather than with a risk you would only discover once you had arrived abroad.
Street changers: to be avoided at all costs
In tourist areas, individuals sometimes offer to change money "at the best rate" directly in the street, near stations or tourist sites. It is one of the oldest and most effective scams. The techniques are well rehearsed: a wad counted too quickly, notes missing from the bottom of the pile, counterfeit notes slipped into the stack, or sleight of hand at the moment of the exchange.
The Latin Quarter and the area around Saint-Michel and Notre-Dame, heavily frequented by visitors, are precisely the kind of places where these informal approaches multiply. A street transaction leaves you with no recourse: no receipt, no identity, no establishment to contact. There is no legitimate reason to change money anywhere other than at a professional's counter. If an offer seems too good to be true, it is precisely because it conceals a trap.
Why an ACPR-authorised office changes everything
In France, manual currency exchange is a regulated activity. A serious establishment is authorised by the ACPR (the Prudential Supervision and Resolution Authority, attached to the Banque de France). This authorisation imposes strict obligations: checking the origin of funds, combating money laundering, traceability of transactions and transparency of pricing terms.
For you, this translates into concrete guarantees: a displayed rate, a receipt provided, authenticated notes and an identifiable point of contact in case of any question. Paris Change (Paris Exchange entity) is an ACPR-authorised exchange office, located at 4 Boulevard Saint-Michel, 75005 Paris, in the heart of the Latin Quarter. The shop is open 7 days a week (Monday to Saturday from 9:00 am to 8:00 pm, Sunday from 10:00 am to 7:30 pm), offers more than 53 currencies and online booking with in-store pickup, which lets you lock in your transaction and save time at the counter. Saint-Michel metro (line 4), RER B and C at Saint-Michel–Notre-Dame.
A word on cash regulations
Also keep in mind the legal framework when you travel: above €10,000 (or the equivalent in foreign currency) carried in cash when entering or leaving the European Union, a customs declaration is mandatory. Anticipating this formality avoids complications at the border.
Frequently asked questions
Does "no commission" mean it is free?
No. The absence of commission says nothing about the rate applied. A business can advertise 0% and make up for it through an unfavourable rate. Always compare the net amount you receive, not the commission argument alone.
How can I check that an exchange office is reliable?
Make sure it is ACPR-authorised, that it displays its rates, that it provides a receipt and that it has an identifiable physical address. An authorised counter also authenticates the notes it hands you.
What should I do if I have doubts about a note I have received?
Check the feel, the watermark and the hologram, and never accept notes during an informal street exchange. By going through an authorised office, your notes are verified before being handed to you.
To exchange your currency with complete peace of mind, with no commission and rates displayed in advance, book online and come and collect your order at 4 Boulevard Saint-Michel: review our transparent rates right now.
