Just used an ATM in Papua New Guinea 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?
Yes, this is a classic DCC situation. I withdrew from a BSP ATM in Mt. Hagen, hit “Accept” out of habit, and my N26 account showed a poor conversion into EUR. DCC lets the ATM convert the money at their own inflated rate, which always ends up costing more. When I hit “Decline” on my next withdrawal, I got a significantly better deal. Rule of thumb now: if the ATM shows anything in your home currency, hit Decline.
Just got back from PNG and had the same issue at a ANZ ATM at Jacksons International Airport. I selected “Accept” because it sounded like it would avoid problems, but my Monzo card was charged in GBP at a much worse rate than expected. That’s the DCC trap it feels official, but it’s really letting the ATM convert at an inflated rate. Always Decline, especially if you’re using travel-friendly cards like Monzo, Wise, or N26.
Happened to me too at a Westpac PNG ATM in Lae. I hit “Accept” thinking I was confirming the transaction, but my Revolut statement came back with a nasty surprise the exchange rate was awful. With DCC, the ATM operator sets the rate and builds in extra costs. When I withdrew again later and chose “Decline,” my charges were noticeably lower. Definitely decline conversion every time especially when your home currency appears on the screen.
Yes, totally normal I made the same mistake at a Bank South Pacific (BSP) ATM in Port Moresby. I selected “Accept” because it sounded like the safer choice, but my Wise card later showed I got a terrible exchange rate, at least 5-6% worse than market. That’s called Dynamic Currency Conversion (DCC) the ATM converts the amount using its own rate, not your card provider’s. Always Decline Conversion to avoid hidden fees and get a fairer exchange.