I used my US card in Guatemala & 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?
Happened to me at a Bantrab ATM in Xela after hiking Tajumulco. The screen flashed some “special exchange rate” that looked official but had an 8% fee buried in it. I almost hit Accept but remembered reading here to always decline. Pressed Decline, got quetzales, and my Bank of America card converted it cleanly. Later compared notes with two backpackers at Hostal Quetzalroo - one chose Accept and got stung with a $12 extra charge on Q1500. Always decline!
This is called DCC (dynamic currency conversion). It looks friendly - “Do you want us to handle the conversion?” - but it’s just a markup trick. In Guatemala, you’ll see it at BAC, Banrural, and Banco Industrial machines, especially in touristy areas like Flores. The right move: Decline and pay in GTQ. Your US bank does the conversion at the actual rate. Even with a 3% foreign transaction fee, you’ll still save compared to accepting the ATM’s terrible offer.
I was in Guatemala City using a 5B ATM near Zone 10 hotels and got the same prompt. First time, I pressed Accept thinking it would be safer. Big mistake. For Q2000, I lost almost $18 compared to my buddy who pressed Decline at the same machine. It’s literally the same cash coming out, just billed differently. Later at an Industrial Bank ATM in Panajachel, I declined the conversion and my Chase account showed a much fairer exchange. Trust me, always decline.
At Banrural ATMs in Antigua, you’ll see the “Accept conversion” option pop up, often with a crazy 7-9% markup. Always hit Decline and take the withdrawal in quetzales (GTQ). If you hit Accept, you’re agreeing to their inflated USD rate, which is much worse than what Visa/Mastercard gives. My Capital One card processed GTQ → USD automatically at the mid-market rate, and it was way cheaper. So, don’t let the screen scare you - the confusing numbers are just their way of making extra money.
The 5B ATM in Guatemala gave a conversion option-go with Decline Conversion to skip pointless fees.
Used a BAC ATM in Guatemala. Just hit Decline Conversion to avoid getting charged extra for currency exchange.
In Guatemala, the BI ATM prompted a conversion offer. I chose Decline Conversion and didnt pay any extra fees.