Which is better - choosing With or Without Conversion at ATM in Czech Republic?
I was in Wenceslas Square and tried a Raiffeisenbank ATM. It flashed “With or Without Conversion.” Pressed Without, got CZK, and my N26 account billed at a great rate. Later, a German guy in my hostel in Žižkov told me he pressed With and lost €18 on one withdrawal. Everyone says the same: Without in Czech Republic, always.
DCC is everywhere in Czech Republic, especially Prague and Brno. Machines like Raiffeisenbank, Česká Spořitelna, and Komerční banka will give you the choice. With Conversion means locked, inflated rate. Without Conversion means billed in CZK, converted fairly by Visa/Mastercard. Even with bank FX fees, Without is cheaper.
Outside the main station in Prague, I used an Euronet ATM and stupidly pressed With conversion. My Lloyds account showed a dreadful GBP rate. Later, at a ČSOB ATM near Old Town, I pressed Without conversion, and the rate was perfect. Lesson: avoid Euronet if you can, but wherever you are, always pick Without.
Prague is infamous for this. Euronet ATMs especially push “With Conversion.” It’s DCC - they fix the exchange at a bad rate. Always press Without, and get billed in CZK. I used my Capital One card at a Česká Spořitelna ATM - Without gave me the correct rate. With would’ve been 10% worse.