Just used an ATM in Kuwait 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?
Just came back from Kuwait withdrew cash at a Kuwait Finance House ATM in Hawalli and chose “Accept.” Later saw on my N26 statement that I was charged at a terrible rate. DCC is a trick where the ATM shows your home currency and does the conversion itself, adding hidden fees in the process. Always Decline Conversion let your card provider handle it. Especially if you’re using Wise or Revolut, the rate will be much more favorable.
I ran into this at a Burgan Bank ATM in the airport. Pressed “Accept” without knowing what it meant, and my Monzo card ended up getting a really poor exchange rate in GBP. That’s how DCC works it sounds safer but actually means the ATM does the conversion and adds a markup. Always Decline, especially if you’re using a travel card. Your bank’s rate will be way better and more transparent.
Same thing happened to me at a Gulf Bank ATM in Kuwait City. I accepted the conversion thinking I was locking in the rate, but my Revolut card showed a far worse deal than expected. That’s DCC the ATM converts to your home currency with an inflated rate that hides the fees. When I tried again and selected “Decline,” the difference was clear. Rule of thumb: if the ATM shows your home currency, always Decline.
Yes, that’s Dynamic Currency Conversion (DCC) and it’s unfortunately very common in Kuwait. I used a NBK (National Bank of Kuwait) ATM near Salmiya and hit “Accept” the first time too. Later, my Wise account showed a bad exchange rate I lost around 5-6%. When you accept, the ATM applies its own rate instead of letting your card provider do the conversion. Always Decline Conversion to get your bank’s much better rate.