I am not sure if it is human nature but my instinct was to select the known exchange rate. In the case in Serbia I believe it cost me about 10 euros or about 10% of the money I was withdrawing. If you select the accept to the option without conversion it gives you a warning that it will be withdrawn without a known exchange rate.
By ignoring the warning and withdrawing the money without the known conversion rate I was charged by my bank 357.94 euros. If I would have accepted their conversion it would have cost me 392.52 or 34.58 euros more. I just thought I would share another one of the dumb things I have done while traveling so maybe someone can learn from my mistake.
Tuesday, September 3, 2013
Say No to the Conversion
I did not fall for this in Poland but they got me in Serbia on one ATM withdraw.
I am not sure if it is human nature but my instinct was to select the known exchange rate. In the case in Serbia I believe it cost me about 10 euros or about 10% of the money I was withdrawing. If you select the accept to the option without conversion it gives you a warning that it will be withdrawn without a known exchange rate.
By ignoring the warning and withdrawing the money without the known conversion rate I was charged by my bank 357.94 euros. If I would have accepted their conversion it would have cost me 392.52 or 34.58 euros more. I just thought I would share another one of the dumb things I have done while traveling so maybe someone can learn from my mistake.
I am not sure if it is human nature but my instinct was to select the known exchange rate. In the case in Serbia I believe it cost me about 10 euros or about 10% of the money I was withdrawing. If you select the accept to the option without conversion it gives you a warning that it will be withdrawn without a known exchange rate.
By ignoring the warning and withdrawing the money without the known conversion rate I was charged by my bank 357.94 euros. If I would have accepted their conversion it would have cost me 392.52 or 34.58 euros more. I just thought I would share another one of the dumb things I have done while traveling so maybe someone can learn from my mistake.
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Umh... I wonder if the post title is a wanted trick to catch more attention or not... but it worked :)
ReplyDeleteNo trick attempt on my part just my stupidity. I think I have updated it to use what I meant to say now.
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