Just used an ATM in Maldives and it asked me to accept or decline conversion. I chose Accept but now Im not sure if I paid extra fees. Can someone explain what this means and whats the right option?
I had the exact issue at a Bank of Ceylon ATM at Male Airport. Pressed “Accept,” and later saw my N26 card was charged at a really poor rate. That’s how DCC works it sounds safer but costs more, because the ATM applies its own exchange rate and profits from it. Now I always Decline Conversion and let my card provider handle it. If you’re using a travel card like Wise or Revolut, it’s the smarter way to go.
Just got back from the Maldives and had this happen at a Commercial Bank of Maldives ATM in Maafushi. I selected “Accept,” and my Monzo card got charged in GBP with a horrible rate. It’s DCC the ATM does the conversion instead of your bank and quietly adds a markup. Tried again the next day with “Decline,” and my bank gave me a much better deal. So yes Decline is always the better option when offered.
Same here I withdrew cash from a State Bank of India ATM in Hulhumale, and chose “Accept” thinking I was avoiding hidden charges. My Revolut app later showed the exchange rate was well below market. That’s how DCC works: the ATM locks in a bad rate and hides the fee in it. When I withdrew again and hit “Decline,” the difference was obvious. Always decline if the ATM shows your home currency it’s almost never in your favor.
Yes, that’s unfortunately normal I ran into the same thing at a Bank of Maldives ATM in Male. I hit “Accept” because it sounded like the safer choice, but my Wise card later showed I got a terrible exchange rate, easily 5-6% worse than expected. That’s Dynamic Currency Conversion (DCC). It lets the ATM convert the money using its own inflated rate. Always Decline Conversion so your card provider handles it you’ll get a much fairer deal.