I withdrew cash at an ATM in Anguilla and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Happened to me at the National Bank of Anguilla ATM in Sandy Ground. I picked “Accept Conversion” thinking it was the safer or standard optionbig mistake. The rate was way off when I checked with my N26 Euro account later. It’s misleading, but that option gives the ATM provider control of the exchange, and they add a hidden markup. Now I just remember this: if it shows the amount in my home currency, I cancel and try againor always choose Decline.
Totally normal and sadly pretty common across the Caribbean. I was in Anguilla in May, used an ATM at the airport, and chose “Accept” thinking it meant fewer fees. But I compared it with my travel partner who declined on a similar machine using her Monzo card, and her rate was noticeably better. Dynamic Currency Conversion is marketed nicely, but always choose “Decline” to get your bank or card provider’s rate.
I’ve just come back from a trip to Shoal Bay, and this exact thing happened at an FCIB (FirstCaribbean) ATM. I pressed “Accept Conversion” because it sounded more secure, but it gave me a really poor exchange rate. When I checked my Wise app, I saw I’d been charged way more than I should’ve. I withdrew again the next day and hit “Decline,” and the rate was much closer to mid-market. Lesson learned: accepting conversion is a trap.
Yup, totally normalunfortunately. I made the same mistake in The Valley at a Scotiabank ATM. The “Accept Conversion” prompt makes it sound like you're avoiding a risk, but it’s actually the opposite. That’s dynamic currency conversion (DCC)the ATM converts the currency instead of your card provider. I used my Revolut card, and when I compared rates later, I realized I lost around 6% on that withdrawal. Always Decline and let your bank handle itthey offer much better rates.