Just used an ATM in Eswatini and it asked me to accept or decline conversion. I chose Accept but now Im not sure if I paid extra fees. Can someone explain what this means and whats the right option?
Just got back from Eswatini and ran into this at a SwaziBank ATM in Big Bend. I selected “Accept” and later checked my N26 account the rate was much worse than what I expected. Accepting means the ATM converts the currency using its own rate, and that almost always includes a steep markup. Declining means your card provider handles it, and if you’re using a travel card like Wise or Revolut, that’ll almost always be cheaper. So yes next time, definitely Decline Conversion.
Yep, I had that experience in Ezulwini. Used a Nedbank Eswatini ATM, and when it asked to accept or decline conversion, I accepted, thinking it’d avoid hidden fees. But my Monzo card showed a withdrawal that cost more than expected. That’s DCC a markup hidden in the exchange rate. If you see your home currency on the ATM screen, that’s your cue to Decline. You’ll get your card issuer’s exchange rate instead, which is usually way more favorable.
Same thing happened to me in Manzini at an FNB ATM. I accepted the conversion and ended up getting charged more than I expected on my Revolut account. DCC is a common trick the ATM shows you the amount in your home currency (like USD or GBP) but uses their own inflated rate to convert. Always choose Decline so your bank handles the exchange at a much better rate. I tested it both ways and declining saved me a decent chunk.
Yes, totally normal it’s called Dynamic Currency Conversion (DCC). I withdrew cash from a Standard Bank ATM in Mbabane and made the same mistake. I chose “Accept,” thinking it was safer, but later saw my Wise statement had a really poor exchange rate. That’s because the ATM converts the currency instead of your card provider and they usually sneak in a 5-7% markup. Best move? Always decline conversion and let your card do the job.