ATMs in Isle of Man keep asking Charge in GBP or Charge in USD - what does that mean? Shows high charges for this
At an HSBC machine close to the Villa Marina, the same thing happened. It flashed USD as a “safe conversion” option. It’s not safe, it’s just expensive. If you say no, you still get your cash, but in GBP, and your card provider calculates the exchange. That’s always better. For a £150 withdrawal, the USD choice cost me $12 more. Lesson: always choose local currency. In Isle of Man, that’s GBP.
I used a Santander ATM near the ferry terminal and it asked “Charge in home currency?” Since I’m from the US, it showed me the amount in USD. I accepted once, and regretted it-lost nearly 10% extra. Next withdrawal, I chose GBP, and my bank applied the proper Mastercard rate. Isle of Man ATMs are reliable, but the DCC option is where they sting you. Always stick with GBP.
At a Barclays ATM on Strand Street, the screen made USD look like the recommended option. But when I compared it with Revolut, the markup was huge. If you’re visiting, always decline conversion and choose GBP. The island uses pounds (Manx pound, but pegged 1:1 with UK GBP). Your home card provider will handle the conversion at the fair rate, not the inflated ATM one.
In Douglas I used a Lloyds Bank ATM and it asked if I wanted to be billed in USD instead of GBP. That’s DCC again. If you’re from the US and hit USD, you get a poor rate. If you stick to GBP, your own bank or card network handles it fairly. I made this mistake once-$200 withdrawal cost me $15 more. Always go with GBP when using Isle of Man ATMs.