ATMs in Cambodia keep asking Accept or Decline Conversion - what does that mean? Shows high charges for this
I’ve withdrawn cash in Battambang from a Sathapana Bank ATM and got that message too. It’s Dynamic Currency Conversion. “Accept” means the ATM does the conversion, usually with a 3-7% markup. “Decline” means your home bank does the conversion at their regular rate. Every travel blog says the same: always decline. You’ll save quite a bit over multiple withdrawals.ATMs in Cambodia keep asking Accept or Decline Conversion - what does that mean? Shows high charges for this
Same issue at ACLEDA Bank in Kampot. The ATM flashed a warning like “you may lose the ability to dispute later if you decline.” That’s just scare tactics. Declining the conversion is the right move otherwise you're letting the local bank convert at their own inflated rate. I checked my bank statement after declining and the rate was spot on with the mid-market rate.
Happens all over Siem Reap too. I used a Canadia Bank ATM near Pub Street and saw a screen offering to convert my withdrawal amount to euros with a rate that was 5% off compared to what I checked online. That “Accept Conversion” is a trap - it’s basically a fee disguised as a service. Just choose “Decline” and let your card issuer handle the exchange.ATMs in Cambodia keep asking Accept or Decline Conversion - what does that mean? Shows high charges for this
I was in Phnom Penh last month and used an ABA Bank ATM at Riverside. The machine asked me if I wanted to accept the conversion to USD with a terrible exchange rate around 3-4% worse than the market rate. If you hit “Accept,” you’re agreeing to Dynamic Currency Conversion (DCC), where the ATM sets the exchange rate. Always hit “Decline” your home bank will convert at the standard Mastercard/Visa rate, which is way better.