Which is better - choosing With or Without Conversion at ATM in Equatorial Guinea?
Many travelers recommend not accepting the on-screen currency conversion at Equatorial Guinea ATMs. I used ‘Without Conversion’ consistently at Banco de Guinea Ecuatorial ATMs in Bata for fairer charges. The markup on ‘With Conversion’ can be over 8%, which adds up fast on big withdrawals.
I learned quickly in Equatorial Guinea to always decline ATM conversion. The ‘With Conversion’ screen might be tempting but hides a big markup fee. ATMs from Banco Comercial de Guinea Ecuatorial showed those confusing rates, so I picked ‘Without Conversion’ to let Visa handle my transactions for a better deal.
For Equatorial Guinea, going for the local currency conversion on the ATM screen is often more expensive than letting your bank convert it. Selecting ‘Without Conversion’ means your bank sets the exchange rate, which tends to be fairer. I avoided surprises at ATMs in Malabo by declining conversion every time.
In Malabo and Bata, using ATMs, my advice is to choose ‘Without Conversion.’ The ‘With Conversion’ option is a DCC service that appears cheaper but usually hides fees close to 8%. Let your card issuer handle currency conversion-it’s more reliable and transparent. I noticed better rates with ‘Without Conversion’ using Mastercard at Banco Nacional de Guinea Ecuatorial’s ATMs.