I used my US card in UAE & the ATM just asked me Accept or Decline Conversion - I feel like I should choose Accept coz it seems more appealing but it had these super confusing numbers on the screen saying 8% markup so not sure. What should I do?
I live in the UAE and still see that prompt now and then - especially at airport ATMs or hotels. It’s basically a rip-off. You’ll see a clean-looking USD total, but it’s based on a padded exchange rate. If you have a Wise, Revolut, or Capital One card, declining conversion gives you the best deal. I even tell visiting friends - never accept, no matter how tempting it looks. It’s the same scam worldwide.
I used my Revolut card all over Abu Dhabi and got that screen every time. If you pick “Accept Conversion,” you’ll lose 6-9% easily - even though it looks nice showing you the USD equivalent. I hit “Decline” and just let Revolut apply the rate. The only catch is that some machines make “Accept” the default - so read carefully before hitting confirm. Long story short: always decline conversion at UAE ATMs.
Every ATM I used in Dubai - from Emirates NBD to ADCB - asked me that same question. It's Dynamic Currency Conversion (DCC), and it's always worse than letting your card provider handle it. Accepting it gives the ATM operator control of the rate, with a built-in markup. Declining it lets Visa or Mastercard do the conversion, which is usually closer to the real rate. It feels sketchy when you hit decline, but it’s the smarter choice.
Always choose Decline Conversion. I made the mistake of hitting “Accept” at a Mashreq ATM in Deira and saw later that I got charged almost 8% extra. It shows you the amount in USD to make it feel safe, but they’re using a terrible exchange rate. When you hit “Decline,” your bank back home handles the conversion at a fair rate. I tested both and the difference was around $6 on a $100 withdrawal. So yeah - decline every time.