I withdrew cash at an ATM in Suriname and selected Accept Conversion because it sounded safer. Later I saw the rate was terrible. Is this normal?
Just visited Suriname and made the same error at a Finabank ATM at the airport. I accepted conversion thinking I was avoiding hidden charges, but my N26 statement showed I paid more than I should’ve. That’s the DCC trap the ATM does the currency conversion and usually adds a 5-8% markup. I withdrew again the next day, selected “Decline,” and saw a better exchange rate immediately. Always decline, especially when using travel-friendly cards.
I used an Hakrinbank ATM in downtown Paramaribo and chose “Accept” because it sounded safer big mistake. My Monzo card got charged in pounds at an awful rate. With DCC, you’re letting the ATM set the exchange rate, and it's rarely in your favor. After that, I started declining conversion and got much better rates every time. Pro tip: if the screen shows your home currency, decline and let your card handle the conversion.
Same thing happened to me at a Republic Bank ATM near the Palmentuin. I hit “Accept” because I thought I was confirming the withdrawal, but my Revolut card was billed in GBP at a really bad rate. Turns out that’s DCC it lets the ATM convert the currency and sneak in a hidden fee via the exchange rate. When I selected “Decline” on my next withdrawal, the rate was noticeably better. Always decline when given the choice.
Yes, that's unfortunately normal I did the same at a DSB Bank ATM in Paramaribo. I selected “Accept” thinking it meant fewer surprises, but my Wise card showed I got a terrible exchange rate, almost 7% worse than expected. That’s Dynamic Currency Conversion (DCC) when you accept, the ATM converts the money at its own inflated rate, not your card’s. Always Decline Conversion so your bank or card provider handles the exchange more fairly.