I used my US card in Norfolk Islands & the ATM just asked me Charge in USD or Charge in EUR - I feel like I should choose USD coz thats the currency in my bank account but it had these super confusing numbers on the screen saying 8% markup so not sure. What should I do?
The safest bet at Norfolk Island ATMs is to choose the local currency and decline the conversion. Choosing USD might seem simpler, but you’ll pay more due to that 8% markup. Major banks like ANZ have ATMs here, and they follow these rules.
Most ATMs on Norfolk Island want to charge in AUD. If the screen offers USD or EUR with an 8% fee, avoid it. Picking local currency and declining conversion saves you money. My Revolut card handled this well without extra fees.
I was also confused in Norfolk Islands but learned that charging in USD at the ATM usually costs more because of that 8% markup hidden in rate. So, it’s better to charge in AUD or the local currency and let your bank handle the conversion for a better deal.
At Norfolk Island ATMs, if you get asked to charge in USD or EUR, it’s best to pick the local currency, which is AUD, but if AUD isn’t an option, choose the currency of the country you’re in, not your home currency. Accepting USD or EUR often means a worse exchange rate and hidden markup around 8%. I always chose ‘decline conversion’ or charge in local currency.