I withdrew cash at an ATM in Pakistan and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Just had this happen at an Allied Bank ATM at Jinnah International Airport in Karachi. Pressed “Accept” without really thinking, and my N26 card was billed in euros at a pretty bad rate. DCC makes it seem like you’re protecting yourself, but it actually gives the ATM permission to convert at their own inflated rate. I now always choose Decline, especially with travel cards like Wise or Revolut they give you the best available rate.
I used a Standard Chartered ATM in Karachi and chose “Accept” out of habit bad move. My Monzo card was charged in GBP at a rate that was clearly off. It’s the DCC trick the ATM converts instead of your bank, and they bake in a 5-7% fee without saying so directly. When I hit “Decline” on a second withdrawal, the exchange rate was way better. Since then, I always Decline Conversion when traveling.
Happened to me last month in Lahore at an MCB Bank ATM near Liberty Market. I hit “Accept” thinking I was avoiding extra charges, but my Revolut statement showed I paid way more than I should have. That’s DCC it lets the ATM apply its own conversion rate, and there’s usually a hidden markup in that rate. I tried again the next day, selected “Decline,” and got a noticeably better deal. Always decline when the ATM offers to convert.
Yes, totally normal though not ideal. I withdrew cash from a HBL ATM in Islamabad and chose “Accept” because it sounded like the safe choice. But when I checked my Wise account, I saw I’d been given a terrible exchange rate, nearly 6% worse than expected. That’s Dynamic Currency Conversion (DCC) it allows the ATM to convert the amount to your home currency at their own inflated rate. Always Decline Conversion so your card provider handles it at a much fairer rate.