Tourist is charged £1,200 for two drinks and a packet of crisps in Mexico
A hapless tourist believes he may have been scammed after paying 100 times the right amount for two drinks and a bag of chips while abroad in Mexico - and his bank is refusing to pay him back.
The distressed Dutch holidaymaker was supposed to pay 310 Mexican pesos, equivalent to £12 for the light snack.
But two '0's were erroneously added to the amount, bringing the total to 31,000 pesos or £1,200.
The customer insists he checked the amount on the card machine before entering his PIN code and approving the amount - and has now concluded either the machine was faulty or he was defrauded by the seller.
But Rabobank said it will not compensate him, because he 'authorised' the payment by entering his PIN number - even if it was 'under false pretenses'.
Now Kifid, the Dutch body responsible for dealing with financial disputes, has ruled in favour of the bank, De Telegraaf reported.
In its decision, Kifid stated: 'It is understandable that the consumer finds the amount too high for two drinks and a bag of chips and would never have agreed to this amount if he had known.
'But that does not mean that he has not legally agreed to the payment.'
The tourist argued that the bank should have flagged such a large payment coming out of his account while abroad, but the ombudsman said the bank could not be blamed for the incident.
It added: 'The mere fact that the transaction may have been unusual for the consumer does not mean that the bank was aware of it and should have intervened.'
Unfortunately for the tourist, he will now not see a penny back from the amount taken.
The Dutch holidaymaker is just the latest example of how even the most cautious traveller can be caught off-guard by a conniving swindler.
Other scams that tourists have become caught up in include taxi drivers who claim their meter is broken before then charging a hefty fee, as well as overpaying in currency they are unfamiliar with to dishonest sellers.
Tourists have also reported distraction tactics, such as being approached in a restaurant by someone with a handwritten note, only to then find their phone or other valuables have been stolen as they take the time to read it.
Some have also reported buying tickets for a boat tour or day trip, only to then find the 'organiser' never turns up to the designated meeting point.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
3 hours ago
- The Independent
The unlikely way you can holiday on a private island
The appeal of cruise holidays has traditionally focussed on visiting a wide variety of places. But an increasing number of companies are opting to drop anchor at exclusive destinations in idyllic locations. Private island stops are becoming a highlight of seafaring itineraries, with major players investing heavily in castaway cays reserved solely for their guests. Holland America Line, part of the Carnival Group, recently revealed a revamp of their popular Half Moon Cay in the Bahamas. A new pier will allow more ships to dock at the destination – soon to be named RelaxAway island, hinting at the investment planned for more laidback leisure facilities. Other companies have equally big plans. Expanding beyond the Bahamas, where most island escapes have been based to date, Royal Caribbean is hoping to develop a new Perfect Day project in Mexico (due to open in 2027), while MSC has announced plans for an Abu Dhabi private island experience in the Middle East. Discovering a secret island is, after all, the stuff of childhood dreams. Here are some of the fantasy islands where it's already possible to set sail. Great Stirrup Cay, Bahamas Back in 1977, Norwegian Cruise Line became the first cruise company to purchase a private island for their guests. Bars, restaurants and a resort have been developed over the years and there are still more developments to come in the 268-acre tropical oasis. Balance hours spent above water with sub-aquatic adventures on a guided snorkelling tour around a marine sanctuary, or rent equipment for parasailing, kayaking, paddleboarding and jet skiing. For families, there's an aqua park with inflatable water obstacles. Castaway Cay, Bahamas Less than 50km north of NCL's private paradise is Disney's answer to a magical far-flung tropical kingdom. Although there are currently no Pirates of the Caribbean – this is a cay in the Atlantic Ocean, after all – secluded coves were once used by the likes of Blackbeard in the 18th century. During the Prohibition era, the island served as a smuggling base and in the 1970s its airstrips were used by illegal drug runners. A USD$25 million investment transformed the island in the mid-1990s, including a dredged channel allowing ships to dock directly. Expect themed environments and areas dedicated to different age groups – including the adults-only Serenity Bay. Labadee, haiti"> Haiti Bucking the trend for Bahamian retreats, Royal Caribbean has invested in a private patch of a peninsula on the northern coast of Cuba's neighbour, Haiti. Set against plunging coastal cliffs, a choice of beaches ranges from the peaceful Columbus Cove to the livelier Adrenaline Beach. For thrill-seekers, there's a chance jump on a roller-coaster or try the world's longest overwater zip line. Unlike many private locations, interactions with local community are possible at an artisan market and a new cultural programming highlighting Haitian history and traditions is in the works. Despite its popularity, the edgy destination is marred by controversy. Recently, stops were temporarily suspended due to 'an abundance of caution' – although it's hoped they will resume in the future. Amber Cove, Dominican Republic Carnival Corporation invested a whopping USD$85 million to develop this site near Puerto Plata on the Dominican Republic's northern coast. Following in the footsteps of explorer Christopher Columbus, who landed here in 1492, guests onboard voyages operated by Princess Cruises and Holland America can visit. Extending from the hillside, zip lines traverse the port complex and there's a 25,000-square-foot pool area with a swim-up bar, waterslides, and private cabanas overlooking the bay. Although island part of the mainland, the private area has a major advantage over island escapes when it comes to exploring the wider area and interacting with communities.
Finextra
3 hours ago
- Finextra
Bank of Ireland warning of spike in ‘safe account' scam
Bank of Ireland is warning customers about a dramatic increase this week in reports and cases of an attempted 'safe account' scam. 0 Customers should be on particular alert for fraudulent texts that attempt to lure them into to calling a fake 'bank' phoneline - where the account holder is then duped into transferring funds to their secondary account, in most cases Revolut, and in turn a 'safe account', which is controlled by a fraudster. Reports of the scam to Bank of Ireland's fraud line and Text Checker service have been on the increase since the start of the year and this week have shown an alarming increase, with daily reports this week over 10 times the number of those reported weekly in April and May. How it works: Customer gets a text message to their phone, requesting that they call a phone number about a suspicious transaction/or activity. The texts claim to be from Bank of Ireland and can drop into the thread of a genuine BOI text: 'Did you login from a new device?'; 'Do you recognise this transaction?'; or 'A transaction for [value] to [merchant] was declined and your card has been placed on hold' - followed by 'if this was not you / if you don't recognise this / etc. please call us back on [callback phone number]. Callback numbers are usually landline numbers including 01 / 1800 / regional codes. The callback number will be answered by someone claiming to be from Bank of Ireland, and that there has been suspicious transactions and the customer's account is compromised. The victim is then asked if they have a Revolut / or other secondary account. If they say yes, they are told that they should move all the money in their BOI account into their own Revolut account/ or secondary account. The fraudster doesn't ask for access to the customer's account, and do not ask for any security details like PIN's or codes - avoiding common 'red flags' associated with fraud. The victim is then told they then need to move their money from their Revolut account to a new 'safe' account. Nicola Sadlier, Head of Fraud, Bank of Ireland said: 'We have been seeing a concerning pattern in the increase of this type of fraud. This week's escalation has resulted in the highest number of reports in a single day of this particular type of fraud, so we need our customers and the general public to be vigilant and recognise the warning signs. Our main advice is to look out for these texts and do not call back. And remember that Bank of Ireland will never ask you to move your money to another account to keep it safe. If you think you have been a victim of fraud, call the bank's fraud team immediately on the 24/7 freephone line 1800 946 764'.
Reuters
4 hours ago
- Reuters
Latin America set to benefit from US market shifts, investors say
NEW YORK, June 9 (Reuters) - Latin America has emerged as a top investing destination as ongoing wars - both of the military and trade variety - make investors seek options in a region they view as refreshingly untroubled by tariffs and major conflicts. Portfolio flows data suggests that investors are largely underexposed to Latin America even as many stock markets - including Brazil's and Mexico's - are trading at or near record highs, while sovereign bonds offer still-attractive yields. Although some prefer not to chase a stock rally, others have focused on the local debt market. "The Latam story is easier to tell now as stocks are cheap and there is a lack of options in emerging markets," said Leonard Linnet, head of equities at Itau BBA. "China is at the epicenter of the trade war, India is more expensive and has some geopolitical issues with Pakistan and investors are avoiding investing in Russia.' Brazil and Mexico are the behemoths where most international investors concentrate their exposure to Latin America. Both carry by far the largest regional weights in global benchmarks for stocks and bonds. Among all emerging markets, however, the two countries are relatively small. Brazil, which is Latin America's largest economy and market, constitutes 60% of the MSCI Latam index (.MILA00000PUS), opens new tab and just below 5% of the broader EM index (.MSCIEF), opens new tab. The stock markets of both Brazil and Mexico are trading near record highs and at low valuations, and their bonds offer attractive yields with the backdrop of softening monetary policy. The investment avenues thin out for some institutions as some Latin American markets are comparatively illiquid or lack investment-grade credit ratings. But in that higher-risk environment other investors see returns. "The investment opportunity in Latam does not require large changes in global asset allocations," Rob Citrone, founder of global macro hedge fund Discovery Capital, told his investors recently. "Asset flows, on the margin, dictate much of the price performance, so small changes to large markets, such as the U.S., can have big impacts on smaller markets, such as most in Latam." After a 26% decline in the regional stock index last year, Latam is the best performer for stocks this year. Within the MSCI universe, investors are paying just over $9 for each dollar in earnings across Latam - compared with more than $19 for developed markets (.WORLD), opens new tab. Although Mexico is closer to the trade war's epicenter, its listed companies are not so exposed to it, so the country's stocks are moving higher. "Price-to-earnings multiples in Latam are low now even when compared with its own historical average," said Itau BBA's Linnet. "Brazil is not only cheaper than China and India, it is trading at a 23% discount from (itself)." Netherlands-based Robeco has been increasing allocation to Latin America, mainly to Mexico, Brazil and Chile, as it has partially shifted away from the U.S., said Wim-Hein Pals, head of emerging markets team at Robeco. The firm is overweight Latam, while it is close to neutral China and underweight India. Both dollar weakness and idiosyncratic stories, including last year's FX selloff, have bolstered the region's currencies. With its benchmark interest rate at 14.75%, Brazil's real has emerged as one of the favored global carry currencies and is up 9% against the greenback this year. The Latin America currency index (.MILA00000CUS), opens new tab is up nearly 15% this year and last week touched a 14-year high. The outlook for the global economy and the issue of reallocating outside of the United States both face uncertainties and it is far too soon to expect material inflows to Latin America, said Graham Stock, senior emerging market strategist at RBC Global Asset Management. "Having said that, you could always see short-term trades that are dollar-bearish, and you could see some allocation into Latin American currencies, because they're high yielding. The carry is attractive there, and I think that is part of what we've seen." Beyond the region's largest economies, Argentina has been a forbidden fruit of sorts for investors over the past years. Its dollar debt has returned over 100% at the index level since President Javier Milei was elected in late 2023 and the local Argentine stock index (.MERV), opens new tab rose 173% last year. Yet Argentina remains outside major benchmarks, making the market inaccessible to some of the largest investors - some of whom have grown more curious about Argentine assets since capital controls were all but lifted in mid-April. "We couldn't buy in on Argentina for all practical purposes while they were under the capital controls," said Alison Shimada, head of the Total Emerging Markets Equity team at Allspring Global Investments. "Now that that has changed, we would be interested, and we're doing some work on it, but at the right price." Some investors would like to see more Latam companies listed. Brazil also attracts most of the region's venture capital, with over 1,400 VC-backed startups since 2013 as of the first half of last year, according to the most recent data from LAVCA, while Uruguay, Chile and Colombia emerged as alternative hubs for innovation. Regardless of how many of these startups actually go to market, they will likely find investors thirsty for places to put money to work in the region. Said Allspring's Shimada: "I'd love to see those smaller countries have more listed assets."
