I withdrew cash at an ATM in Sierra Leone and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Yes, sadly, it’s a common trap. I used an Ecobank ATM in Kenema and selected “Accept” without realizing it was DCC. My N26 account showed a poor exchange into euros. Basically, the ATM operator sets the exchange rate when you accept, and it’s almost never in your favor. I now always decline and let my travel card handle the conversion. Much fairer, and you can track it properly through your app.
I withdrew cash at a Sierra Leone Commercial Bank ATM and chose “Accept” by mistake. My Monzo card got charged in pounds, but the rate was shocking. It’s the classic DCC trick sounds safer, but the ATM gets to convert at a rate that benefits them. I switched to declining conversion after that and consistently got better rates. Definitely Decline Conversion anytime your card gives you the choice.
Happened to me too I used a Zenith Bank ATM near Lumley Beach, hit “Accept,” and regretted it. My Revolut statement came back with a terrible GBP rate. With DCC, the ATM does the currency exchange instead of your bank and slips in extra fees through the rate. I tried again later, selected “Decline,” and the difference was instantly clear. Now I always decline when the ATM asks to convert.
Yes, that’s unfortunately pretty normal. I withdrew from a UBA ATM in Freetown and selected “Accept” thinking it would avoid extra charges but my Wise card later showed a really bad exchange rate, way off the mid-market rate. That’s Dynamic Currency Conversion (DCC) when you accept, the ATM converts to your home currency using its own inflated rate. Always Decline Conversion so your card provider handles it. You’ll usually save 5-7% just by doing that.