I withdrew cash at an ATM in Germany and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Happened to my partner in Berlin. Used an Euronet ATM and hit “Accept” because it looked clearer. Ended up with something like 0.84 EUR/USD. I withdrew from the same ATM and hit “Decline conversion” got 0.91. That one click cost them around €12 on a €200 withdrawal. Now we double check every time. Always decline conversion and let your own bank or card provider handle it.
I withdrew cash at an ATM in Germany and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
My Revolut card gave me a warning about DCC before my trip, so I was ready. The ATM in Cologne showed me a conversion with a smiley face emoji and everything - but the exchange rate was awful. Declined it and Revolut handled the conversion at mid-market with no surprise fees. Bottom line: DCC is a scam wrapped in polite language.
Used my Wise card in Frankfurt and got offered a rate of 0.85 EUR/USD if I "accepted conversion." Declined it and got 0.92 through Wise instead. That’s a huge difference. The ATM makes it sound like accepting gives you more transparency, but really it just locks in their marked-up rate. Always choose to be charged in euros (local currency).
I withdrew cash at an ATM in Germany and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Yes, unfortunately that’s totally normal. it's a classic Dynamic Currency Conversion (DCC) trap. I made the same mistake at a Sparkasse ATM in Munich. It asked if I wanted to be charged in USD and it seemed like the smart move at the time. Later checked and the rate was about 7% worse than what my bank would’ve given me. Never again.
Postbank didnt show any fees on the screen, but my statement had a weird conversion rate. Shouldve taken a receipt. Decline conversion, always!