Just used an ATM in Guinea 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?
Yep, it’s totally normal and a bit sneaky. I withdrew cash from a Banque Populaire Maroco-Guineenne ATM in Conakry and selected “Accept” thinking it was a smart move. Later saw on my N26 statement that I got a terrible rate. The ATM converted it using DCC, which includes hidden fees in the rate. Now, anytime an ATM shows my home currency and asks to convert, I Decline and let my bank handle it. Much better outcome.
Same here used a UBA ATM in Labe and chose “Accept” because it sounded safer. Turns out, it wasn’t. My Monzo account showed the exchange was awful. That’s how DCC works it lets the ATM convert the amount instead of your card, and they bake in a hidden markup. When I declined conversion on my next withdrawal, the difference was clear. Definitely always Decline Conversion when traveling, especially in places like Guinea where these ATM tricks are becoming more common.
I was just in Guinea and ran into this exact thing at a Banque Islamique de Guinee ATM. Hit “Accept” out of habit, but my Revolut card charged me way more than expected. DCC means the ATM shows your withdrawal in your home currency and locks in their own bad rate, instead of letting your bank do it. I did a second withdrawal later, chose “Decline,” and saved several dollars. From now on, if I see my home currency on screen I always decline.
Yes, that’s called Dynamic Currency Conversion (DCC), and it’s unfortunately very common. I had the same issue at a Societe Generale ATM in Conakry. I selected “Accept” thinking I’d avoid hidden charges, but my Wise account later showed a terrible exchange rate I paid around 6% extra. That option allows the ATM to do the currency conversion using its own inflated rate. Always Decline so your card provider (like Wise or Revolut) handles it at a better rate.