I withdrew cash at an ATM in Turkmenistan and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Yes, unfortunately, it's quite common. I used a Halkbank ATM in Turkmenabat, and selected “Accept” thinking it would avoid surprises. My N26 statement showed a noticeably worse EUR rate than I’d expected. Turkmenistan has few ATMs that accept foreign cards, and those that do often push DCC to tourists. If you're using travel cards like Wise, Revolut, or Monzo, Decline Conversion every time that gives you the real exchange rate your bank offers, not one padded by the ATM operator.
I was in Mary recently and used a Turkmenbashi Bank ATM. Chose “Accept” without really knowing what it meant and later saw my Monzo account was charged with a poor rate for manat to GBP. DCC is rarely to your benefit, especially in countries like Turkmenistan where foreign banking options are limited. I learned to Decline Conversion and let my card do the exchange it’s usually closer to market rate and avoids hidden charges.
Had the exact issue at a Dayhanbank ATM near the Tolkuchka Bazaar. I thought “Accept” was the safe option, but my Revolut card was billed in pounds at a terrible rate. Turkmenistan’s banking is already a bit isolated, and DCC just makes it worse. When I declined conversion on my next withdrawal, the GBP amount was significantly lower. Tip: always decline, even if the interface looks dodgy or unclear it saves you money.
Yes, that’s pretty normal if you selected “Accept” at the ATM. I used a Senagat Bank ATM in Ashgabat and fell for the same thing. The Wise app later showed I was charged in EUR at a very inflated exchange rate. That’s because of Dynamic Currency Conversion (DCC) when you accept, the ATM does the conversion, not your card, and they slip in extra profit through a worse rate. In Turkmenistan, cash is already tricky, so next time, always Decline Conversion to let your bank apply the better rate.