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Judy in Ags


Aug 8, 2009, 12:53 PM

Post #26 of 83 (19829 views)

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Re: [joaquinx] Avoiding bank fees for ATM withdrawals

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I'm in the process of opening a Bank of America account and I had no trouble getting to talk to a human. I made two calls yesterday and found the "human" to be very helpful.


Judy in Ags


Aug 8, 2009, 12:56 PM

Post #27 of 83 (19829 views)

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Re: [prmjcm] Avoiding bank fees for ATM withdrawals

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The "human" I talked to at BOA yesterday explained that the ATM withdrawal limit is determined by the amount of money in your account. She wasn't more specific and I did ask--I'll get to that later.


prmjcm


Aug 8, 2009, 1:23 PM

Post #28 of 83 (19823 views)

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Re: [Judy in Ags] Avoiding bank fees for ATM withdrawals

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I e-mailed them and they sent me a amount of a little over a thousand as my maximum daily limit, I have also called and had no problem talking to a person, I find them to be very helpful with any problems.

Pat Moore in San Pancho, GTO


Georgia


Aug 9, 2009, 8:02 PM

Post #29 of 83 (19768 views)

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Re: [Don] Avoiding bank fees for ATM withdrawals

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Our local Scotia Bank ATM says a 3000 pesos limit, but if you withdraw 5000, you get it anyway!


Judy in Ags


Aug 11, 2009, 5:02 PM

Post #30 of 83 (19718 views)

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Re: [Georgia] Avoiding bank fees for ATM withdrawals

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Is that on a Bank of America account?


Georgia


Aug 11, 2009, 5:31 PM

Post #31 of 83 (19710 views)

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Re: [Judy in Ags] Avoiding bank fees for ATM withdrawals

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Probably. I have three different ATM bank accounts ... just in case. One of them is BoA.


mexigrl

Aug 11, 2009, 6:15 PM

Post #32 of 83 (19705 views)

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Re: [Rolly] Avoiding bank fees for ATM withdrawals

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Hi,

I'm trying to make sense of this thread - the simple question that I believed you've answered is, yes I can use my BofA ATM card in Mexico for ATM withdrawals. The other question is are there certain banks I need to withdraw from - and are fees different from one to the next?

Thanks!

Laurianne


Don


Aug 11, 2009, 6:20 PM

Post #33 of 83 (19704 views)

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Re: [mexigrl] Avoiding bank fees for ATM withdrawals

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 Yes, you can use your B of A ATM Card in Mexico. If you use Santander or Scotiabanks, there are no fees charged.


(This post was edited by Don on Aug 11, 2009, 6:23 PM)


Judy in Ags


Aug 12, 2009, 10:52 AM

Post #34 of 83 (19667 views)

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Re: [Don] Avoiding bank fees for ATM withdrawals

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I keep reading on MexCon that having a Bank of America card, one can use either Santander or Scotia ATM's without a fee. Apparently BoA doesn't know that as they insist it is only Santander that is free and with Scotia there is a fee. Can you all confirm that both are "feeless"?


Judy in Ags


Aug 12, 2009, 10:59 AM

Post #35 of 83 (19667 views)

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Re: [Rolly] Avoiding bank fees for ATM withdrawals

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Okay, Rolly, so do you have the Banamex USA Amistad account (which charges no exchange fee)? I didn't know till the very end of my information-gathering on BoA that they change a 1% exchange to pesos fee.


esperanza

Aug 12, 2009, 11:02 AM

Post #36 of 83 (19666 views)

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Re: [Judy in Ags] Avoiding bank fees for ATM withdrawals

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Judy, both are fee-less. My partner uses BofA and uses Santander and/or Scotia ATMs for withdrawals. There is NO FEE for either.

http://www.mexicocooks.typepad.com









Judy in Ags


Aug 12, 2009, 11:13 AM

Post #37 of 83 (19663 views)

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Re: [esperanza] Avoiding bank fees for ATM withdrawals

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Thanks much. It's so weird that the customers down here know something BoA doesn't know! I guess it's not on the list they refer to, but it's a reality anyway.


Rolly


Aug 12, 2009, 1:16 PM

Post #38 of 83 (19651 views)

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Re: [Judy in Ags] Avoiding bank fees for ATM withdrawals

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There is an explanation. BofA has an arrangement with Scotiabank in Canada It just happens that the arrangement spills over into México.

Rolly Pirate


Judy in Ags


Aug 12, 2009, 2:06 PM

Post #39 of 83 (19642 views)

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Re: [Rolly] Avoiding bank fees for ATM withdrawals

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That's neat. I saw on online about Canada and that's what they kept telling me over the phone. "Only Canada." That's good news for us.


mexliving

Aug 15, 2009, 4:51 PM

Post #40 of 83 (19579 views)

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Re: [gpkisner] Avoiding bank fees for ATM withdrawals

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Scotia bank does not charge me any extra fees like banamex/bancomer used to..... using my bank of america card.... 3,000 pesos withdrawals limit per transaction...


judithnpups


Aug 16, 2009, 1:05 PM

Post #41 of 83 (19540 views)

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Re: [mexliving] Avoiding bank fees for ATM withdrawals

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Using my Bank of American ATM card which has a $1000 US daily limit, I can make four consecutive withdrawals at a Scotia Bank ATM without even having to log out in between each transaction. (At today's exchange rate, $1000 US = $12,800 MN, so four $3000 MN withdrawals are less than my $1000 US daily limit.) I guess I could do the same thing at Santander (two $5000 MN withdrawals + a $2000 MN withdrawal) but I haven't tried it. I prefer the Scotia ATM's because most of the time a $3000 MN withdrawal is dispersed in $200 and $50 peso notes (not the usual $500 peso notes you get at a Santander machine.)

There is never any fee charged by either Scotia, Santander or BOA. And, the exchange rate from BOA is usually better than the one posted at the XE site linked to Mexconnect (and way better than the rates posted at the banks.)
Judith in the DF (formerly in Morelia)


thriftqueen

Aug 16, 2009, 7:15 PM

Post #42 of 83 (19514 views)

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Re: [Papirex] Avoiding bank fees for ATM withdrawals

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Rex, you are right on with your explanation of the int. fees charged. ALL finanicial institutions charge this fee. One may not see it but it is there in the sliding scale for the exchange rate at the time of withdrawal. Banks give nothing away as we all know. We have banked with a credit union for years and I researched this issue when the fee first began showing up and I was told the government forced the financial institutions to show this fee. Visa handles our int. transactions. Your explanation is much better than what I have posted in the past about this issue.


sioux4noff

Aug 17, 2009, 1:20 PM

Post #43 of 83 (19460 views)

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Re: [thriftqueen] Avoiding bank fees for ATM withdrawals

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All I can say on this topic with authority is that we have a Capital One VISA card, which charges no international currency fee and the exchange rates I get are excellent. The same with our Bank of America ATM card.
I did a test a few years ago where I took money out of the ATM, charged something on my Capital One card and exchanged cash at a bank all in one day. The rates were all very close, the bank cash exchange gave the lowest rate.


Axixic


Aug 19, 2009, 4:38 PM

Post #44 of 83 (19376 views)

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Re: [gpkisner] Avoiding bank fees for ATM withdrawals

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I found this useful link on another site that was posted by f3drivr:
http://www.flyerguide.com/...and_Foreign_Exchange

It lists the fees and institution links for ATM, debit and charge card fees at various banks, credit unions and internet banks. Looks like I'll be changing to one of the zero charges institutions.


(This post was edited by Rolly on Aug 19, 2009, 5:20 PM)


Axixic


Aug 19, 2009, 6:49 PM

Post #45 of 83 (19362 views)

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Re: [PamelaDelafield] Avoiding bank fees for ATM withdrawals

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From the other site another interesting idea using a PayPal debit card. https://www.paypal.com/al/cgi-bin/webscr?cmd=_products-services-outside&nav=2


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PayPal charges those fees you mentioned when transfering from US (or Cnd) PayPal to Mexican PayPal accounts; but to get around those associated fees, you withdraw your US or Cnd dollars in mexico in the form of pesos, with your PayPal debit card (for which there is only a $1.00 fee, no conversion fee or exchange fee) and then you can deposit it in Bancomer and transfer it to your Mexican PayPal account for no fees at all. Do it online and it shows up the next day.
As well, you can transfer it in the other direction (PayPal to Bancomer) for no fees at all.

Send money from your bank to your PayPal account and withdraw the money in Mexico with the PayPal debit card for a $1 fee.


BajaGringo


Aug 19, 2009, 7:11 PM

Post #46 of 83 (19354 views)

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Re: [PamelaDelafield] Avoiding bank fees for ATM withdrawals

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What is PayPal's daily withdrawal limit???


TalkBaja: Over 25K members...


RickS


Aug 19, 2009, 8:03 PM

Post #47 of 83 (19347 views)

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Re: [BajaGringo] Avoiding bank fees for ATM withdrawals

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$500/day..... I think it still is that.


Axixic


Aug 20, 2009, 3:38 AM

Post #48 of 83 (19324 views)

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Re: [RickS] Avoiding bank fees for ATM withdrawals

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According to PayPal you can lift the limit:


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Log in to your paypal account.

Click on withdraw funds then it should say lift monthly limit.

Click the link and add a credit card or your SS number and this will lift the limit.



Kimpatsu Hekigan


Aug 20, 2009, 9:06 AM

Post #49 of 83 (19297 views)

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Re: Using PayPal for funds transfer

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PayPal is not regarded as being completely benign by its users. This article speaks specifically to using PayPal to receive payment for the sale of goods and services, but also mentions using it for money transfer.

PayPal Adds Fees, Sneakily

FWIW,

-- K.H.


The Disciple lamented, "Master! Why is my life beset with problems?!"
The Master observed, "Only tourists step in dog droppings..."




joaquinx


Aug 20, 2009, 9:38 AM

Post #50 of 83 (19289 views)

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Re: [kimpatsu_hekigan] Using PayPal for funds transfer

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I can only speak regarding the transfer of funds from a US bank to a Mexican bank via PayPal. The conversion rate is terrible. Let's say the current conversion rate with a BofA card at a Mexican ATM is 13.50, ok. PayPay transfer which takes around 10 days will give a conversion rate around 13.00. I did this once and learned
_______
My desire to be well-informed is currently at odds with my desire to remain sane.
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