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Nearly every loss in a P2P deal follows one of seven scripts — and each is recognisable before any money changes hands. Here is the full list, with the tells.
Updated: August 27, 2026
The most common one. The counterparty talks you into sending money before the meeting — a transfer, crypto, a “deposit to lock the rate”. The excuses are always plausible: long drive, moving rate, “everyone does it”. Once the money lands, they vanish. The tell is singular and absolute: any request to pay before the simultaneous handover means end the conversation.
Second most common. Defence: count and check the notes on the spot, before anyone leaves. For large sums, meet at a bank branch — notes can be machine-checked and deposited immediately.
Real notes only on the top and bottom of the bundle. It works in a hurry and in awkward places — a car, an alley, “on the go”. The defence is the same: a full count on the spot, a calm public venue, and refusal of any hurried scenario.
The remaining four exploit inattention.
Study the counterparty’s reviews and history before contact; put the rate, sums and venue in writing; meet somewhere busy with cameras; hand over simultaneously and count on the spot; split large sums across several deals. None of the seven patterns survives this checklist.
Being asked to send money before the in-person meeting — under any pretext: a deposit, locking the rate, proving you are serious. A simultaneous cash handover at the meeting eliminates this pattern entirely.
Report to the police where the deal happened: exchange fraud is a criminal offence in every jurisdiction. Leave a review on the platform and alert moderation — it protects the next person. The platform cannot recover the money: it is not a party to the deal.
Through their open history: how many deals completed, what both sides wrote, whether past routes and amounts match what they now claim. An empty profile is not a verdict — but it is a reason to start with a small amount.
The board has open listings from people who need the mirror of an exchange. Posting is free.
What peer-to-peer currency exchange between private individuals is, who benefits and when, how a deal runs from listing to meeting, and the rules that keep it safe.
A mutual settlement (offset) transfer replaces one cross-border payment with two local cash handovers. The mechanics, examples, how it differs from hawala and banks, and the risks.
Where to change money abroad without losing on the rate: why airport kiosks are the worst option, how person-to-person exchange works, and when it pays off most.