Which is better - choosing With or Without Conversion at ATM in Australia?
I was in Perth last month and used my Canadian TD Bank Visa at a Bankwest ATM inside a Coles supermarket. I almost hit accept on the With Conversion option, but then I remembered reading that it’s always better to let your home bank handle it. So I chose Without Conversion and let the charge go through in AUD. The final amount posted to my account was much closer to the actual market rate. I’ve now made it a rule - always decline the ATM conversion, especially in Australia, where the markup can be ridiculous even at legit banks.
I was backpacking through Brisbane and used my Indian HDFC debit card at a Commonwealth Bank ATM near Roma Street Station. When the screen popped up with the conversion question, I chose With Conversion because it showed me the INR value and I thought that was better. But when I compared it with the live rate in my HDFC app, I saw the ATM had added a big markup. I lost around 400 rupees just on that transaction. I later tried Without Conversion at an ANZ ATM and it gave me a way better rate. Never say yes to the ATM’s conversion option in Australia
I was in Sydney this June and had this exact thing happen at a Westpac ATM near Circular Quay. I used my Dutch bunq Mastercard and the screen asked if I wanted to be charged in euros or Australian dollars. I chose Without Conversion, meaning AUD, and let bunq do the math. It gave me the exact mid-market rate and a low FX fee. A friend I was traveling with chose With Conversion at a different machine and ended up paying nearly 10 AUD more for the same withdrawal. Definitely go for local currency and say no to the ATM’s offer to convert
Just landed in Melbourne a couple weeks ago and used my UK Halifax Visa debit card at a NAB ATM in the CBD. The screen gave me two options accept conversion or be charged in AUD. I picked With Conversion thinking it was the safer route since it showed me the amount in pounds. Big mistake. When I checked later, I realized I lost about 7 percent on the rate. My bank would have given me a much better deal. Now I always choose Without Conversion and let my home bank handle the exchange. It’s a common trap for international travelers here