Just used an ATM in Bosnia and Herzegovina 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?
You probably paid more, unfortunately. DCC is legal but predatory. Local ATMs like those from Intesa Sanpaolo, NLB, and even UniCredit will offer this option. Accept = local bank sets the rate (bad deal), Decline = your bank sets it (better deal). It’s confusing, but always pick “Decline conversion” when in Bosnia or pretty much anywhere in Europe.
I made the same mistake when I first arrived in Mostar. The ATM showed my home currency (EUR), and I thought it was easier to accept. Big mistakemy bank later confirmed the ATM added a huge markup. I now always hit “Decline” when asked, and pay in BAM. Your card will still work, but you avoid getting ripped off.
Happened to me at a Raiffeisen ATM in Sarajevo. I tapped “Accept” out of habit, and later saw I was charged way more than expected. Basically, you’re letting the Bosnian bank do the currency conversion, not your own. They often use a worse rate. Always choose “Decline” to let Revolut, Wise, or your home bank do it at mid-market rates.
Yeah, that’s called dynamic currency conversion (DCC). When you chose “Accept,” the ATM processed your transaction in your home currency instead of BAM (Bosnian marks). That usually comes with a 5-7% hidden markup on the exchange rate. Next time, always hit “Decline” so your card provider handles the conversionit's almost always cheaper.