I used my US card in Portugal & 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?
I made the same mistake in Lisbon chose “Charge in USD” at a Millennium ATM thinking it would help me avoid extra fees. Big mistake. What I didn’t realize is that selecting USD lets the Portuguese bank set the exchange rate, and they tack on a huge markup in my case, it was over 8%. When I compared it with the rate from my bank back home, I lost about $20 on a 300 EUR withdrawal. Always choose “Charge in EUR” and let your bank handle the conversion. It sounds counterintuitive, but it saves you money every time.
Even after declining currency conversion, Novo Banco ATM processed my request and charged me anyway.
Declined currency conversion at Novo Banco but still got charged €4.50. Location was okay but not transparent.
Used the Banco BPI machine outside - great location, simple to follow. Just make sure to decline conversion to save money.
Novo Banco ATM tricked me-pressed decline conversion multiple times but it still applied it. Not going back to this one.
ATM at Santander didnt always register button presses. Be careful during conversion prompts-press multiple times to be sure it goes through.
Moved to Portugal recently from India-sometimes Banco CTT ignored my Decline Conversion choice and still applied it. Be cautious!