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if I go to the guy standin under the tree in the town square to exchange $$ or cash travelers checks, am I doin something illegal?? They are there, and lots of people know, ...is it a legal risk?? 
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Re: legalities...
I say go for it. What could possibly go wrong!
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Re: legalities...
The proper term for this is 'black market' currency exchange.
It is illegal in Jamaica.
That's why most people who do it, don't do it under the guango tree at town square, but rather inside a place of business, with the forex as a side business. You get better rates there than at a cambio.
Having said that, I've never heard of anybody getting in trouble for it, either on the selling or buying end. Matter fo fact I know someone who's been running such an enterprise for well over 10 years and never had any problems.
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Re: legalities...
I don't know about the legal risk, but I know they ripped me off to the tune of 4600 Ja dollars a couple of years ago in Negril. I will NEVER use them again. It is better to use a cambio IMO.Comment
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Re: legalities...
would those guys be able to change Travel Cheques??
we have used them - but always Mr. - never me
no problems for us - and he always knows he gets the exact $$$ to the penny ~Comment
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Re: legalities...
Laurel, I've cashed TC's with the guy at the roundabout in Negril as well as a guy in Ochi near the craft market (I think )
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Re: legalities...
ok - I just did not know they could / would do that.
good to know - altho - I never carry them ...Comment
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Re: legalities...
I am aware of the possible RISKS, Milo, just not the legalities--have done it, w/ no problem but wonder about the possible cconsequences....
I tend to be kinda blythe, but have pretty good radar for real threats.
knowing it is illegal will,however, make me think twice.
Have cashed TCs, and know what they are worth--if I walk away w/ cash in my hand, figure it's all ok,
AND, have dealt w/ a guy who stood under a tree in the craft market--he's gone, busted for guns
but others have taken his place at a lot nearby.
was originally led there by people I trust have my interests in mind ,so went back (very handy on a Sunday afternoon) -- some times it takes awhile for things to soak in, till I figure out there might be other ramifications.
\thanks everyone for your input -- will keep it all in mind and TRY to keep my eyes wide open(it is vacation, afterall
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Re: legalities...
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Magix_di_PM</div><div class="ubbcode-body">The proper term for this is 'black market' currency exchange.
It is illegal in Jamaica.
That's why most people who do it, don't do it under the guango tree at town square, but rather inside a place of business, with the forex as a side business. You get better rates there than at a cambio.
Having said that, I've never heard of anybody getting in trouble for it, either on the selling or buying end. Matter fo fact I know someone who's been running such an enterprise for well over 10 years and never had any problems.
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How do they make money at this? They give a better rate than the Cambio so they must have a way to get a still better rate than they give.
Back in the 70's when currency exchage rules were in effect I could see it (and even used them a bit then) but I can't see where their profit is now.Comment
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Re: legalities...
Maybe the man has a reason to want US$Comment
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