Just used an ATM in Kiribati 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?
Yep, I learned this the hard way while traveling through Kiribati. Used a local bank ATM and chose “Accept,” which showed the amount in AUD. My N26 card was charged at a way worse rate than expected. DCC is the issue if the ATM shows your home currency, it’s a sign it’s about to convert at its own inflated rate. From now on, I always Decline and let my card do the conversion. It’s one of those small decisions that saves a lot over time.
Same story here used an ATM in Bikenibeu and selected “Accept” because I wasn’t sure what it meant. My Monzo account later showed a really weak exchange rate. That’s the effect of DCC: when you accept, the ATM handles the conversion and adds a markup to the rate. It’s very common in smaller or remote countries too. Best move is to Decline Conversion so your card provider gives you the proper exchange rate.
Just had this happen to me at a Kiribati Postal Services ATM near Betio. I accepted the conversion thinking I was avoiding a fee, but my Revolut app showed I got a poor exchange rate in GBP. What really happened is the ATM converted it using their own rate, not Revolut’s. It’s a classic DCC trick, and the fees are hidden in the rate. I did another withdrawal later, hit “Decline,” and saved a good bit. So yes always decline when asked.
Yes, that’s called Dynamic Currency Conversion (DCC), and it’s a sneaky one. I withdrew cash from a Bank of Kiribati ATM in South Tarawa and hit “Accept” thinking it was the safe choice. But my Wise card later showed I was charged at a terrible exchange rate, easily 5-7% higher than expected. That’s because the ATM did the conversion instead of your card provider. Always Decline Conversion so your bank handles it way cheaper.