Bancolombia ATMs are straight up scammy — got hit with 9.5% predatory DCC markup
Just got burned at a Bancolombia ATM in Medellín (SUC_CRA70_3) and I’m pissed.
I went to withdraw what should’ve been around $100. Instead I got charged $505.21 because I accidentally accepted their currency conversion.
They used a garbage exchange rate (1 USD = 3,028 COP) with a 9.5% markup on top of a 29,900 COP fee. The real rate that day was around 3,350+ COP per dollar. I overpaid about $50 just because these scammers pushed their predatory Dynamic Currency Conversion.
The receipt literally says they “offered a choice,” which I guess is how they cover their ass while still ripping people off.
Warning to anyone in Colombia:
Always decline the currency conversion bullshit at Bancolombia ATMs. These machines are predatory as hell with this DCC scam. Choose to withdraw in COP and let your own bank handle the conversion.
Don’t be the next person they fuck over.