I used my US card in Uganda & 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?
This is a common trap here. That “Accept Conversion” screen looks official, but it’s just a sneaky way to add a fee. The markup is huge - sometimes 10%. ATMs from DTB or Centenary Bank are usually reliable, but they still show that prompt. Always hit “Decline” and let your card provider handle the exchange. I’ve lived here two years and never once accepted the ATM’s conversion - it’s a total rip-off.
Just finished two months in Uganda, using a US Wise card. Nearly every ATM, especially Absa and Equity Bank, showed that “Accept conversion” screen. If you choose Accept, the ATM applies their own inflated rate in USD. If you Decline, your own bank charges you in UGX at the real exchange rate. I tested both on the same day - Decline came out 6-8% cheaper. Don’t be tricked by the clean-looking USD number - Decline is the right move.
I had the same thing happen at a Stanbic Bank ATM near Garden City Mall in Kampala. The screen looked all official, but that “Accept Conversion” option came with a hidden 7-9% markup. I chose “Decline” the next time and compared - saved like $5 on a single withdrawal. If you’re asking “what’s better at ATMs in Uganda - accept or decline conversion?”, always go with decline. You’ll get the Mastercard/Visa rate, which is way fairer.
Decline it every time. I made the mistake of hitting “Accept” at an ATM in Kampala and only realised later I paid about 8% more on the rate. It feels safer when it shows you the amount in USD, but that’s how they get you. It’s called Dynamic Currency Conversion (DCC) and it’s always worse than your bank’s rate. Now I always choose “Decline Conversion” so my bank handles it. Way better exchange and no weird markup.