I used my US card in Benin & the ATM just asked me Accept or Decline Conversion - I feel like I should choose Accept coz it seems more appealing but it had these super confusing numbers on the screen saying 8% markup so not sure. What should I do?
From my trips in Benin, I learned declining those conversions is best. That 8% markup is huge. Also be careful with which ATM you use; I found Ecobank ATMs more reliable but still declined conversion. Carry some cash too just in case you face card limits.
If you want to save money in Benin, always decline that conversion offer. It looks tempting but it’s an extra money grab. I use Citibank or Chase cards and let Mastercard handle the exchange. Just double-check your bank’s foreign transaction fees too.
In Benin, I ignored the conversion option most of the time. The 8% fee they slap on sounds like dynamic currency conversion, which sucks. Better to decline and let your card do the math. Also, watch out for withdrawal fees at Ecobank ATMs or the Bank of Africa machines-they vary.
I personally always hit ‘Decline’ on those ATM prompts in Benin. Accepting means the ATM does the currency conversion, usually at a bad rate with hidden fees-like that 8% markup you saw. If you decline, your own card network (Visa/Mastercard) does the conversion at a usually better rate. So even if it looks safer to accept, it ends up costing more.