I used my US card in Micronesia & 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?
Using an ATM in Micronesia, I always choose decline conversion. The 8% fee makes the withdrawal expensive. Stick to main banks that have ATMs like Bank of Guam, and carry backup cash just in case the ATM dislikes your card.
If you’re using your US card in Pohnpei or Chuuk, decline that conversion offer. The 8% markup is a usual scam called DCC. Many places accept USD as cash anyway, so avoid unnecessary conversions. Using a Niyo or FI travel card with no foreign fees helps too.
I made the mistake once accepting the ATM’s conversion in Micronesia and got hit with extra fees. Afterwards, I only declined conversion and let my card do the exchange. Be careful because some ATMs might also charge withdrawal fees on top.
In Micronesia, ATMs aren’t super common, but when I found one, I always declined that conversion prompt. The 8% fee is a trap. The exchange rates from Visa or Mastercard tend to be better. Also, if you can, carry cash in USD since it’s widely accepted in Micronesia.