Just used an ATM in Mauritius 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, had the same experience at a Bank One ATM in Mahebourg. I accepted the conversion, and my N26 card was charged at a much worse rate than expected. DCC lets the ATM convert your withdrawal instead of your card, and they bake in a 5-7% markup. It’s a sneaky way to make extra off tourists. Now I always Decline Conversion and let my card handle it. Much cheaper and more transparent.
I was in Flic en Flac recently and used a Barclays (now Absa) ATM. I chose “Accept,” not realizing it meant the ATM would handle the conversion. My Monzo account later showed a really poor rate in GBP. That’s DCC it’s designed to sound safe but usually ends up costing more. If the ATM shows your home currency, always choose Decline. Your card provider will almost always give you a better deal.
Same thing happened to me at an SBM (State Bank of Mauritius) ATM in Port Louis. I selected “Accept” because I didn’t want surprises, but my Revolut card got charged way more than I expected. That’s how DCC works the ATM applies its own rate with hidden markups. When I withdrew again and hit “Decline,” I got a much better rate. Now I never accept especially when I see my home currency on the screen.
Yes, that’s a common issue in Mauritius. I used a Mauritius Commercial Bank (MCB) ATM in Grand Baie, hit “Accept” thinking it was the safer choice but my Wise app showed a terrible exchange rate, about 6% higher than mid-market. That’s Dynamic Currency Conversion (DCC). When you accept, the ATM converts to your home currency at its own inflated rate. Always Decline Conversion so your card provider handles it at a better rate.