I used my US card in Armenia & 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?
That prompt is a dynamic currency conversion trap. I used it once at an Armbusinessbank machine - my Bank of America card showed a terrible rate when I clicked Accept. Decline conversion and withdraw AMD from Armenian ATMs - your US bank gives better rates. I withdrew AMD 100,000 and saved about US 18 by declining. Even small ATM charges in dram are better than resorting to upfront conversion. It’s clean, transparent, and saves you from overspending.
I was confused too - “Accept” sounds nice, but Armenian banks push the rate to loot you. At a VTB Armenia ATM, I saw text saying “conversion fee 8%.” I hit Decline, and the withdraw was listed in AMD only. For best ATM exchange rates in Armenia, always Decline dynamic conversion. Let your home bank convert. Works with Visa, Mastercard - just verify the amount is in dram. You’ll save real money over a month of withdrawals.
It’s classic DCC - ATM wants to convert AMD to USD - but their markup sucks. I tried Accept once at a Converse Bank ATM near Republic Square and saw nearly 10% added. Decline conversion in Armenia ATMs every single time, even though it feels less familiar. Use your bank’s rate instead. My Schwab debit card gave near‑market rates with no extra charges. I always double-check the transaction screen and pick “Decline” before hitting confirm.
That’s Dynamic Currency Conversion. Choosing “Accept” means the ATM does the conversion into USD at a marked‑up rate - usually around 5-8% - plus your bank also charges. Always Decline conversion when withdrawing in Armenia so your US bank handles the exchange at a better rate. I tested both options with my Chase Sapphire Reserve at an HSBC ATM in Yerevan - a Decline transaction saved me almost US 15 per US 200 withdrawn. Stick to local currency in dram (AMD) for best value.