Which is better - choosing With or Without Conversion at ATM in Dominican Republic?
I grabbed pesos from a Scotiabank ATM right outside the Santo Domingo bus terminal. Screen asked me With or Without Conversion. I tapped Without, got DOP, and Revolut billed me at the exact Mastercard rate. At the hostel bar later, another backpacker from Germany was fuming - he hit With Conversion in Puerto Plata and lost €12 in one shot. These ATMs love to confuse tourists. Just stick to Without Conversion in DR and you’ll save yourself the headache.
Here’s the deal with Dominican ATMs: the machines want you to pick With Conversion because they profit from it. That’s dynamic currency conversion (DCC). If you’re withdrawing from Banco BHD León in Santiago or Scotiabank in Punta Cana, always choose Without. Even if your home bank adds a 2-3% foreign fee, it’s still less than the 6-8% ATM markup. I usually take cash from BanReservas on the Malecón in Santo Domingo and have never had an issue as long as I decline the ATM’s conversion.
I was staying at a hostel near Playa Los Corales in Bávaro and used a Banco Popular ATM. Chose “With Conversion” thinking it would charge me in USD, which looked safe. When I checked my Wells Fargo statement, the numbers were terrible - almost $15 lost on a 10,000 DOP withdrawal. Next day at BanReservas by Parque Colón in Santo Domingo, I pressed “Without Conversion” and the rate matched what XE showed. Big lesson: ignore the USD option, let your card handle the conversion.
In Santo Domingo and Punta Cana, ATMs from Banco Popular, BanReservas, and Scotiabank almost always flash “With Conversion / Without Conversion.” That’s just DCC - the ATM converting pesos to USD or EUR at a lousy rate. Always hit Without Conversion so your bank or card network (Visa/Mastercard) does it instead. I used a Chase Sapphire card at BanReservas in Zona Colonial, pressed Without, and got close to XE’s rate. Tried With once in Bávaro with Scotiabank and it added about 7% markup. Always safer to decline.