I used my US card in Solomon Islands & 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?
ATM conversion prompts in Solomon Islands look tempting but don’t fall for the 8% markup. Decline conversion every time and use your card’s exchange rate. The local currency is Solomon Islands dollar, so withdraw some cash while you can.
Declining that conversion option in Solomon Islands was my best move. I used my Chase Visa card and had no problem withdrawing from BSP ATMs. Dynamic Conversion fees like 8% are a big scam, so avoid accepting them.
I had the same confusion in Honiara. If you accept conversion, expect to lose extra fees. Declining conversion and paying in local Solomon Islands dollars is smarter. Also, try carrying some cash as smaller vendors don’t take cards.
In the Solomon Islands, accept or decline conversion doesn’t really matter if you want to save money-always decline. That 8% markup is the ATM’s way of making easy money. Use Bank South Pacific ATMs and let your card do the currency exchange.