High currency conversion charges at ATMs in Bonaire

I’ve used ATMs from Vidanova Bank and Banco di Caribe on multiple trips to Bonaire. The Accept or Decline Conversion prompt relates to Dynamic Currency Conversion (DCC). Accepting means the ATM sets the exchange rate, which often includes inflated fees-usually around $7-8 per withdrawal for foreign cards. Declining lets your bank process the currency conversion, usually at a better rate. I always decline to save money. Plus, Bonaire’s ATM fees themselves are quite high, typically $5.30-7.95, so combining both charges really adds up.

I remember standing at the Banco di Caribe ATM, staring at the accept conversion option, which looked like a scam. If you accept, the rate is much worse-sometimes 10% more than your home bank would charge with Visa or Mastercard. I always decline conversion at ATMs there. Carry extra cash just in case the machines are acting up, because outages are common. No Bank of America or HSBC ATMs, just local banks with unavoidable fees.

I got confused when the ATM from Vidanova Bank asked Accept or Decline Conversion. Basically, if you accept, the ATM sets the exchange rate and adds a big fee on top-sometimes a percentage and a flat fee together. I declined, and my home bank’s rate was a lot better. Still paid an ATM access fee (about $5.30), but not the crazy markup. Bonaire doesn’t have fee-free ATMs for foreigners, so either way, budget for high withdrawal costs.

I visited Bonaire recently, and almost every ATM I tried-like those from MCB Bank and Banco di Caribe-asked if I wanted to accept or decline the conversion. When I accepted, the fee was shockingly high, around $7.95 per transaction, plus a pretty bad exchange rate. I learned it’s better to decline conversion and let my own bank handle the exchange rate. If you’re from the US or Europe and using Visa or Mastercard, always hit decline. It’ll save you quite a bit, even if Bonaire’s ATMs aren’t cheap by any means.