I withdrew cash at an ATM in Liberia and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Yes, totally normal in Liberia. I used a LBDI ATM at Roberts International Airport and hit “Accept.” My N26 card later showed I was charged at a rate that was way off. DCC is sneaky it makes it look like you’re locking in something safe, but really, the ATM is converting at a bad rate for you, good for them. I now always choose Decline Conversion especially when using cards like Wise or Revolut that already give you a solid rate.
I was in Liberia a couple of weeks ago and used a GTBank ATM in Paynesville. Pressed “Accept Conversion,” then checked my Monzo statement the rate was really bad. Turns out that’s how DCC works. It sounds helpful, but it actually gives the ATM operator control over the exchange and they mark it up quietly. I tried again with “Decline” and saved a good amount. Rule of thumb: if the ATM shows your home currency, Decline it.
Same thing happened to me at a UBA ATM near Sinkor. I selected “Accept” thinking I’d avoid ATM surprises, but my Revolut card showed I lost a chunk to a bad rate. DCC is the trick it offers to show the withdrawal in your home currency, but uses the ATM’s inflated rate. When I later withdrew and chose “Decline,” the cost was noticeably lower. Now I always Decline, especially with travel cards.
Yes, unfortunately that’s pretty standard. I used an Ecobank ATM in Monrovia near Broad Street, and when it asked to accept or decline conversion, I hit “Accept” thinking it was more secure. But my Wise card showed I got a terrible exchange rate easily 5-6% worse than market. That’s called Dynamic Currency Conversion (DCC). It lets the ATM convert the currency with their own rate, usually padded with hidden fees. Next time, always Decline Conversion your card provider will give you a much better rate.