Just used an ATM in Gibraltar 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?
That’s exactly what happened to me at a Bank of Gibraltar ATM in Ocean Village. I chose “Accept” and regretted it as soon as I saw the conversion rate on my N26 statement. The ATM did the currency exchange and charged me a worse rate than what my bank would’ve used. It’s a DCC trick, and it’s spreading fast even in places like Gibraltar. Since then, I always Decline Conversion it’s the only way to avoid hidden fees buried in the rate.
Yep, exact same issue here. I withdrew from an ATM in Gibraltar at the airport and hit “Accept” because it sounded safer. Later, I checked my Monzo account and saw I’d paid more than I expected. If you ever see your home currency (like GBP or USD) displayed on the ATM screen, that’s DCC. The ATM locks in a rate that favors them, not you. Always choose Decline your card’s exchange rate is almost always better.
I just visited Gibraltar and used a Trusted Novus Bank ATM near Casemates Square. I accepted the conversion, and my Revolut statement showed a terrible rate. What you ran into is DCC the ATM converts the currency using its own inflated rate, not your card provider’s. It’s super common across Europe now, especially in places with lots of tourists. Best move: Decline conversion every time and let your card (like Revolut, Wise, or Monzo) do it instead.
Yes, unfortunately that’s typical I had the same thing happen at a Jyske Bank ATM near Main Street. I chose “Accept” thinking it would protect me from fees, but my Wise card showed I got a much worse exchange rate than normal. That’s Dynamic Currency Conversion (DCC) the ATM applies its own rate instead of letting your bank do it. I lost around 6% on that withdrawal. Always Decline Conversion to avoid the markup and let your card handle the exchange.