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Gatos

May 14, 2017, 10:51 AM

Views: 2927

Re: [viktoremski] Citibank debit card at CitiBanamex ATM

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There are three ways you can 'lose' money using a US debit card in Mexico :

- There are the ATM fees.
- There are the foreign exchange fees
- There is the foreign exchange rate.

The only US debit card I use in Mexico is my Schwab Visa debit card. When I stand in front of the ATM and request 7000 pesos a screen appears which asks if I agree to pay a 33 pesos ATM fee. That fee (less than 2 dollars) is reimbursed at the same moment the debit is charged to my account, On the one occasion it was not Schwab credited my account 5 dollars.

I believe the minimum required for the Schwab One International account we have is 10,000 US. There are no foreign exchange fees.

Schwab exchanges dollars for pesos at the exact same rate as is posted on the Visa website. So in a sense Schwab does not exchange the currencies.

While we have a Banamex debit card we have never used it. From time to time we do use our HSBC debit card.

I believe Citi may or may not charge you fees based on the 'class' of account you have with them. But still don't be confused. As I mentioned a typical ATM fee is 2 USD. A typical foreign transaction fee can be as much as 3% of the transaction. I believe the exchange rate is dependent on the logo on the back of the card and not the bank.

Here's a link to a Citi's explanation of their ATM fees :

https://online.citi.com/...p;JFP_TOKEN=X4NQ5FD6

Note how they refer to Citi Gold or Citi Priority... It seems they are saying they wave the 2 dollar fee but " Foreign exchange fees may apply for withdrawals made at foreign ATMs"

Ten cuidado


(This post was edited by Gatos on May 14, 2017, 11:29 AM)


Edit Log:
Post edited by Gatos (Novice) on May 14, 2017, 11:29 AM


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