What is the "ATM Dynamic Currency Conversion" scam in Naxos?

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Accepted Answer

ATMs in Naxos Town, particularly standalone machines near the waterfront, offer dynamic currency conversion (DCC) that allows the machine to convert the withdrawal into your home currency at a poor exchange rate with an additional fee. The prompt is designed to make converting seem like the helpful option. Always select to be charged in euros (local currency) when prompted at any Greek ATM. Decline the machines conversion offer. Use ATMs affiliated with major banks (Alpha Bank, Piraeus Bank) and check your cards foreign transaction fee structure before travelling.

Money & ATM Scams in Naxos

ATM Dynamic Currency Conversion

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