I withdrew cash at an ATM in Macau and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Yep, had the same issue in Macau at a Banco Nacional Ultramarino (BNU) ATM near the Ruins of St. Paul. I thought “Accept” meant I’d avoid extra charges, but my Monzo account was billed at a really poor rate. DCC is the reason it's misleading, and the ATM profits by offering a worse exchange rate. I always Decline now and let my card provider (Monzo, Wise, Revolut, etc.) handle the conversion. Much cheaper.
Just got back from Macau and had this happen at an ICBC ATM in Cotai Strip. The machine showed the amount in euros and asked to confirm I pressed “Accept.” My N26 statement showed the exchange was awful. That’s DCC the ATM does the conversion, not your bank, and adds a hidden fee into the rate. When I hit “Decline” the next time, the rate was noticeably better. Always decline conversion, especially with travel cards.
Same thing happened to me last month at a Tai Fung Bank ATM inside the Grand Lisboa Casino. I accepted the conversion, and my Revolut card got charged at a terrible rate in GBP. That’s DCC the ATM looks like it’s doing you a favor, but it’s really locking in a marked-up rate. I tried again later, hit “Decline,” and saved several percent. Now I never accept conversion unless I want to pay more.
Yes, totally normal and unfortunately very common in Macau. I used a Bank of China ATM near Senado Square and hit “Accept” thinking it was safer. Later, my Wise app showed I got a really poor exchange rate, easily 5-7% worse than mid-market. That’s Dynamic Currency Conversion (DCC). When you accept, the ATM converts the currency at its own inflated rate. Always Decline Conversion so your card provider handles it with a fairer rate.