Just used an ATM in Ireland 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?
Yep, I learned this the hard way at an Ulster Bank ATM in Limerick. I thought “Accept” meant fewer fees, but my N26 account was charged using a terrible rate. That’s DCC the ATM converts the money instead of your bank, and they usually add 4-7% without showing it clearly. I always decline now, especially with travel cards that already give near-perfect exchange rates. Definitely Decline going forward.
I was in Cork recently and used an Euronet ATM near the English Market. Selected “Accept” by mistake, and the exchange rate was awful my Monzo app showed a huge difference. DCC is common in Ireland, especially at Euronet and touristy spots. The ATM gives you a fixed rate in your home currency, but with a hidden markup. Now I only use ATMs from local banks and always Decline Conversion when asked.
Same thing happened to me in Galway at a Bank of Ireland ATM. I accepted the conversion because it looked like the official option. Turns out, it let the ATM convert the money to GBP using their own inflated rate, and I ended up paying more. My Revolut card later showed the difference. When I tried again and hit “Decline,” the rate was much more favorable. General rule: if the ATM shows your home currency, always Decline.
Yes, that’s unfortunately normal. I withdrew from an AIB ATM in Dublin and hit “Accept” thinking it was safer. Later saw my Wise account had applied a much worse exchange rate I lost around 6% compared to the market rate. That’s due to Dynamic Currency Conversion (DCC). When you accept, the ATM chooses the rate and includes a markup. Always Decline Conversion so your bank or card provider handles the currency the rate is almost always better.
AIB ATM in Ireland doesnt show fee or FX conversion options - it just processes the withdrawal. My bank charged 1% on the USD equivalent. Not ideal.