I used my US card in Indonesia & 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?
Ya I remember that screen, made no sense to me. It had like a long list of numbers and then said “Accept conversion” in big letters, like it was the better option. But I googled it later and realised I got ripped off a bit. My Revolut card would’ve given me a better rate if I had declined. Just go with local currency and say no to the ATM’s conversion, even if the screen makes it confusing.
My first time in Bali I accepted the conversion thinking it’d avoid fees or something. But the ATM had a sneaky 7.8% markup built into the rate and I had no idea. After that I asked around and everybody said just decline it and take the money in rupiah. The ATM makes it look like Accept is safer but it’s not. It’s just more expensive. Just press decline, you’ll get a better deal from your bank.
I was at a BNI machine in Jakarta and it showed this shiny looking “Accept” option with all these numbers, and I didn’t know what half of them meant. I clicked it and boom, I lost like 10 bucks extra on the spot. It’s some kind of built-in markup. Now I always click “Decline” even if it feels wrong.:D
Totally went through the same thing in Ubud. That screen popped up and I thought “Accept” sounded safe and simple. Later checked my bank statement and the rate was terrible. . Always hit decline and let your own bank do the conversion