Just used an ATM in Norway 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?
Same thing happened to me at a Bank Norwegian ATM at Oslo Gardermoen Airport. I hit “Accept” without knowing what it really meant, and my N26 card showed I got a really poor EUR rate. DCC makes it look like you’re avoiding fees, but really the ATM is converting the money at a rate that benefits them. Always Decline your bank or card provider will almost always give you a much better deal.
I was in Tromso and used a Nordea ATM near the harbour. Pressed “Accept” because it sounded like I was confirming the amount big mistake. My Monzo account later showed I’d been billed in pounds at a worse-than-expected exchange rate. That’s how DCC gets you. Now I always Decline Conversion, especially with travel cards like Monzo, Wise, or N26. Let your card handle it it’s way cheaper and more transparent.
Just happened to me last week at a SpareBank 1 ATM in Bergen. I accepted the conversion thinking it would give me transparency, but my Revolut card got charged at a terrible rate in GBP. That’s DCC the ATM applies its own rate, not your bank’s, and quietly adds a markup. I withdrew again the next day, hit “Decline,” and the amount was noticeably better. So yes, it’s normal and the right option is definitely to decline conversion.
Yes, that’s unfortunately normal it’s called Dynamic Currency Conversion (DCC). I made the same mistake at a DNB ATM in Oslo Central Station. I chose “Accept” thinking it meant fewer fees, but my Wise card later showed a bad exchange rate, about 5-6% worse than mid-market. When you accept, the ATM converts to your home currency using its own inflated rate. Best move? Always Decline Conversion and let your card provider handle the currency exchange.