Halifax Clarity - Cash withdrawal from ATM abroad

Cheddar_2

Hi,

My wife went to Ibiza this morning for the weekend and withdrew 150 Euros from an ATM when she arrived. I assumed the exchange rate would be based on the Mastercard rate, which is currently 1.361605.

However, the exchange rate she got from the ATM was only 1.234771. Why is this? It was a Euronet cash machine. :cool:

adindas

Cheddar wrote: »

Hi,

My wife went to Ibiza this morning for the weekend and withdrew 150 Euros from an ATM when she arrived. I assumed the exchange rate would be based on the Mastercard rate, which is currently 1.361605.

However, the exchange rate she got from the ATM was only 1.234771. Why is this? It was a Euronet cash machine. :cool:

Euronet Cash machine is a real clue ..
Most of the Euronet cash machines (if not all) in Europe will give you an option to "proceed with their specific rate (aka DCC conversion) and will displays their rate" or to Proceed without conversion

She should have chosen "Proceed without conversion" doing this the rate will be converted by Clarity card which will be using MasterCard global exchange rate.

A piece of advice, when withdrawing money, try to avoid Euronet cash machines as you might be fallen into this DCC trap. If you have to use Euronet read the screen Instruction carefully on each step before you proceed with withdrawal.

A better option is to find a local bank cash machines displaying Master/Visa logo instead of using Euronet or Global Banks cash machines. Doing this the DCC option will not be offered on the menu (based on my personal experience) and you will always get clarity card conversion rate which is based on master card global exchange rate.

ManAtHome

Most of the Bank ATMs in Spain (and at least a few other countries in Euroland) have the DCC option as well. I'm in Greece, and their Bank ATMs now 'ask' you twice - fortunately they don't (yet) swap the buttons round between the first and second ask...

Cheddar_2

adindas wrote: »

Euronet Cash machine is a real clue ..
Most of the Euronet cash machines (if not all) in Europe will give you an option to "proceed with their specific rate (aka DCC conversion) and will displays their rate" or to Proceed without conversion

She should have chosen "Proceed without conversion" doing this the rate will be converted by Clarity card which will be using MasterCard global exchange rate.

A piece of advice, when withdrawing money, try to avoid Euro net cash machines as you might have fallen into this DCC trap. If you have to use Eurionet read the screen Instruction carefully before you proceed with withdrawal.

Preferably to use a local bank cash machines displaying Master/Visa logo. Doing this you will DCC option will not on the menu and you will always get clarity card conversion rate which is based on master card global exchange rate.

Thanks - that's really helpful, I'll let her know, and I'll also remember that for our family holiday in Greece in July! :money:

YorkshireBoy

Cheddar wrote: »

I'll also remember that for our family holiday in Greece in July!

You may not have any issues there. I used my Metro card in Rhodes last year (mainly Alpha Bank) and was never presented with any DCC options. I always got the Metro/MasterCard rate.


Spain (especially the Canaries in my experience) is different. I always have to read the message 2 and 3 times to make sure I select the right option!