It must be universally accepted by now that whenever you see a Travelex branded exchange branch or ATM, you are better off keeping your wallet firmly in your pocket and quickly walk by.
I have previously written about Travelex terrible exchange rates at Hong Kong Airport (read here), Travelex ATMs at the London Heathrow dispensing pounds (read more here) and their multi currency ATM also at the Heathrow (read more here).
When I arrived to Prague last week (on my way out today), I needed to get some cash at the airport to pay for a cab because no Uber cars were around late in the evening. As is often the case, there was a Travelex foreign exchange branch right after you enter the terminal from the customs and their own ATM too.
Decided to withdraw 15,000 CZK and Googled the roughly amount in both USD and EUR. I declined the Euro conversion offered by Travelex that would have charged 615.12 euros from my bank account for this withdrawal.
What posted to my card couple of days later, was a charge for 560.48 euros. The difference is 9.75%.
I truly feel sorry for those uninformed travelers that fall these Travelex currency conversion scams. Their business must be brisk, however, considering that they have these exchange branches and ATMs all over the place.