I used my US card in Italy & the ATM just asked me Charge in USD or Charge in EUR - I feel like I should choose USD coz thats the currency in my bank account but it had these super confusing numbers on the screen saying 8% markup so not sure. What should I do?
Was in Naples last week and withdrew cash from a Banco BPM ATM. It gave me that same confusing screen. I clicked USD the first time and regretted it. Lost around 20 dollars on a 250 euro withdrawal. Second time I chose EUR and the difference was huge. The ATM makes it sound like USD is safer but it’s just how they sneak in fees. Always pick local currency which in Italy is EUR.
Same thing at an Intesa Sanpaolo ATM. It asked if I wanted to be charged in USD or EUR and flashed something like an 8.5 percent fee in tiny writing. Always choose EUR. If you go with USD, the local bank converts it and you get slammed with a worse exchange rate. If you pick EUR, your home bank will usually convert at a fairer rate and you’ll save money.
I used my Chase debit card at a BNL ATM in Florence. It gave me the same option and the numbers on the screen looked tempting in USD. But I remembered reading about Dynamic Currency Conversion. Basically if you choose USD, the ATM sets the rate and adds a fat markup. I picked EUR and let Chase do the conversion. The rate was much better when I checked my statement later.I used my US card in Italy & the ATM just asked me Charge in USD or Charge in EUR - I feel like I should choose USD coz thats the currency in my bank account but it had these super confusing numbers on the screen saying 8% markup so not sure. What should I do?
Happened to me at a UniCredit ATM in Rome. It gave me the option to charge in USD or EUR and I nearly hit USD thinking it would go straight to my US account. But that’s the trap. If you pick USD, the ATM does the conversion for you at a terrible rate. Mine showed something like an 8.2 percent markup. Always pick EUR. Let your own bank handle the conversion. It’s almost always cheaper.I used my US card in Italy & the ATM just asked me Charge in USD or Charge in EUR - I feel like I should choose USD coz thats the currency in my bank account but it had these super confusing numbers on the screen saying 8% markup so not sure. What should I do?
Same Credem ATM - smooth withdrawal, no fees or conversion prompts. Open 24 hours.
Monte dei Paschi di Siena ATM switched to English automatically. Used Starling Mastercard, no fees or conversion markup. Very smooth.