DCC and ATMs abroad: for the attention of Nationwide card users

grumbler · 30 January 2006 at 12:09PM

I was always sure that the best way to avoid Direct Currency Conversion abroad is by withdrawing cash and using it for purchases intstead of a debit card. This is still correct. However, as I just discovered, some caution is needed with ATMs too:
Dynamic Currency Conversion – it’s all foreign to me! 21 Nov 2005

In July ... a 12 month pilot was launched to allow ATM providers to operate DCC, and this is likely to result in increased charges for UK visitors abroad.

For more information about Dynamic Currency Conversion please see our factsheet.

What happens at ATMs?

ATM providers need to register with VISA in order to operate the service.** Nationwide is concerned about the pilot. In particular the guidelines concerning the screen layout are highly confusing and perhaps direct customers towards the ‘Yes’ for sterling option... Customers using an ATM that is operating DCC might be tempted to press ‘Yes’ for their home currency. However, as in restaurant and shops, Nationwide customers should always opt to pay in local currency. The Society would like to see improved clarity and transparency and will work to improve awareness amongst its customers.

stuartm · 31 January 2006 at 2:49PM

I also discovered this on a recent trip to Almeria in southern Spain with my Nationwide Classic Visa.

The option to pay in sterling came up with a cost of £70.00 but there was no cost displayed for the cost of paying in local currency.

I opted for the local currency option and when my statement came through the cost was approx. £67.00.

Much better to use this option, so beware!

DCC and ATMs abroad: for the attention of Nationwide card users

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