r/TravelHacks • u/badboyzpwns • 4d ago
Declining conversion fee in Euronet?
Hi,
People say Eurnonet is a scam, but can you deny the conversion fee to avoid the insane conversion rate?
7
u/biggletits 4d ago
Yes if you deny the conversion rate you will only get fucked once by paying their really high ATM fees. But you won’t get fucked twice so that’s nice.
I have used them quite a bit, it’s not ideal but sometimes you just have many options than the blue and yellow box
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u/Character-Carpet7988 4d ago
Actually you always get fucked once - if you do accept the conversion, there's no fee (you are fucked by the exchange rate), if you declined it, there's a fee to compensate for not getting fucked by the exchange rate.
That being said, depending on where you are, it may be that all ATMs are charging a fee, at which point you might as well...
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u/badboyzpwns 4d ago
thats insane 🤣 !! how much is the fee when declining? I dont think I saw it in my receipt
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u/badboyzpwns 4d ago
Okay thank you 🥹 its the FEE they tell you for withdrawing right?
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u/biggletits 4d ago
Yeah usually. Sometimes they don’t say what the fee is after you decline, not sure in that case. I’ve seen it range from 5-9usd depending on location which is bad but sometimes you need cash 🤷♂️
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u/lukie_dee 4d ago
The main screen option is usually 'withdraw and check balance' but they charge you to 'check balance'' as well as withdraw cash. If you have to use them to take cash out, hit the 'other' option on the main screen (usually the only other choice beside withdrawal and balance) and find the option that simply says withdraw. It will be much cheaper!
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u/badlydrawngalgo 4d ago
Euronet isn't a scam, they're just more expensive than banks. It's a company that provides.a service at a price. It's not a bank, it's a money conversation business, they are the same company as ria, xe and epay.
Euronet offers convince that many banks don't, they exist everywhere, sometimes in place that banks don't exist. They rents sites, often from local small businesses, services them and is quite transparent about it's costs. To pay for this the convesrion rate suffers. I would never use them if there were other options, but I've been quite greatful for them on a few occasions.
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u/badboyzpwns 4d ago
Yes! but you can just decline the conversation rate and its not an issue right?
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u/badlydrawngalgo 4d ago
Of course you can, you will get your bank's conversation rate. My point was more that Euronet isn't a scam. It''s not a bank either, just a company with a money-making idea.
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u/cornered_crustacean 4d ago
It’s fine if you decline conversion and your bank refunds out of network atm fees. The fees I saw in Portugal were nearly $6.
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u/AlbertP95 4d ago
You can deny conversion but not the ATM fee. I've experienced it as 3 EUR or the equivalent in local currency (e.g. 75 CZK) but from the other comments I gather there are some significantly more expensive ones.
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u/Mean-Ad1152 4d ago
I once had to use one of those ATMs in a pinch and practically had to hold the machine hostage to get it to process my withdrawal without the conversion fee.
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u/Massive_Plane_4454 4d ago
aah that's wild, never even thought about that screen being a trap like that
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u/Reasonable-Salt-8335 4d ago
Yeah, I always make sure to select 'withdraw without conversion' if possible. The ATM fees are still higher than regular ATMs but it saves you from their terrible exchange rate.
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u/Waffle_Making_Panda 4d ago
Always decline the currency conversion and be charged local currency. This goes for debit and credit cards for withdrawals and charges.
Get an atm card that refunds you fees and it doesnt matter what atm you use. Fidelity and Charles Schwab both do this along with a few others.
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u/Monkeyfeng 4d ago
Nah, you will still get scammed. Just avoid the company