When you use an ATM or a card machine, it may ask if you want the ATM to convert your money for you.
Keep in mind for Brazil card holders: the smart conversion doesn't work when Brazilian Real (BRL) currency is involved.
What should I choose if the ATM asks to convert for me?
Make sure you always say no to conversion, or choose to withdraw in the local currency. Here are some examples of what you might see when using an ATM, and what you should choose.
“Continue with conversion” or “Continue without conversion”
Choose: “Continue without conversion”
Debit in your home currency, or debit in the local currency
Choose: Debit in the local currency (e.g. EUR in Italy, or USD in the US)
“Let us convert the money for you — yes or no”
“Confirm an exchange rate — yes or no”
What happens if I let the ATM convert for me?
If you choose to let the ATM convert for you, they’ll often use an unfair exchange rate. We ran some research on this, and found on average you’ll be charged 6% more than if you withdraw without conversion. And the worst ATMs take up to 13% more.
Why should I decline the ATM conversion?
If you decline the ATM conversion, then Wise makes the conversion. If you’ve already got that currency in your Wise account, you won’t be charged anything to convert.
If you don’t have that currency in your Wise account, we’ll convert from the currency you have that has the lowest conversion fee. Check our fees here.