I used my US card in Bahamas & 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?
That screen is a trap - ATM wants to do the conversion for you, but charges an extra fee. Decline every time when withdrawing B$ in Bahamas. I used a Wise Mastercard and after declining, my bank applied cleaner exchange rates. Across a two-week stay, skipping the “Accept” saved me about US 25. Worth reading the screen carefully before hitting the button.
That question pops up at nearly every machine, but check carefully - it adds a big markup. At a CIBC FirstCaribbean ATM in Nassau, the “Accept” screen showed a whopping 7% fee. Decline Conversion when using Bahamas ATMs. My Chase Sapphire Reserve used the correct FX rate afterward. It’s an easy fix that can save you real money during your trip.
I learned the hard way at a Commonwealth Bank ATM in Freeport - the “Accept” showed a marked-up USD amount. Decline the conversion so your US bank handles the exchange. My Schwab debit card gave me interbank rates with no markup, and I avoided the ATM’s hefty fee. That single decision saved a lot over multiple withdrawals.
That prompt is dynamic currency conversion (DCC). It shows a USD amount, but with up to 8% markup. Always choose “Decline Conversion” in Bahamas ATMs so you get Bahamian dollars at mid-market rates, and your bank does the conversion. I did so at a Scotiabank ATM in Nassau and saved nearly US 10 on a US 200 withdrawal. Press decline every time.