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cbviajero

Nov 13, 2013, 10:53 AM

Post #1 of 90 (9165 views)

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No more fee free atm withdrawals from BoA

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As of November 8 withdrawals from BoA accounts at ATMs will be charged a 3percent international transaction fee.This includes Santander and Scotia machines.This is bad news for a lot of people,myself included.



addtocart

Nov 13, 2013, 11:04 AM

Post #2 of 90 (9149 views)

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Re: [cbviajero] No more fee free atm withdrawals from BoA

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Yep and ouch! 3% doesn't sound like much until you draw out 6,000 pesos and it costs you almost 14 bucks US. Like I just did.


cbviajero

Nov 13, 2013, 11:09 AM

Post #3 of 90 (9146 views)

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Re: [addtocart] No more fee free atm withdrawals from BoA

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I pay all of my family's living expenses from my BoA account,until I find an alternative my costs just went up by 3 percent,ouch indeed.


(This post was edited by cbviajero on Nov 13, 2013, 11:10 AM)


joaquinx


Nov 13, 2013, 11:12 AM

Post #4 of 90 (9140 views)

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Re: [cbviajero] No more fee free atm withdrawals from BoA

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Surely you have a link to BofA verifying this. I can't find this reported on the BofA site.

From the BofA FAQ
What are the fees for using a ATM or debit card at an ATM in a foreign country?

The Non-Bank of America ATM usage fee is $5. This fee is assessed for each withdrawal, transfer or balance inquiry performed at a Non-Bank of America ATM in a foreign country. In addition, the ATM operator may charge an access fee for cash withdrawals.

Your deposit account statement will reflect the U.S. dollar equivalent of your foreign ATM withdrawal. Bank of America will assess an international transaction fee of 1% (Effective November 8, 2013, the fee will change to 3%) of the US dollar amount for all ATM withdrawals processed in foreign currency. Foreign ATM operators may offer to do your currency conversion for you, but they may charge a higher fee for conversion. To insure that your currency conversion does not incur a fee higher than the one stated above, you may refuse the ATM operator's offer to convert the amount of the transaction. The fee is assessed as a separate transaction fee on the posting date of the withdrawal.

You can avoid the Non-Bank of America ATM usage fee and ATM operator access fee by using one of our international partner ATMs in the corresponding countries listed below:

Barclays (England, Northern Ireland, Scotland, Wales, Jersey, Guernsey and the Channel Islands)
BNP Paribas (France)
BNL D’Italia (Italy)
UkrSibbank (Ukraine)
Deutsche Bank (Germany)
Scotia Bank (Canada, Peru, Chile and the Caribbean including: Anguilla, Antigua & Barbuda, The Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Saint Maarten, Puerto Rico, Saint Kitts & Nevis, Saint Lucia, Saint Vincent & the Grenadines, Trinidad & Tobago, Turks & Caicos Islands, U.S. Virgin Islands)
Westpac Bank (Australia and New Zealand)
China Construction Bank (Mainland China)
Santander (Mexico)

https://www.bankofamerica.com/...nage/faq-atm-fees.go
_______
My desire to be well-informed is currently at odds with my desire to remain sane.

(This post was edited by joaquinx on Nov 13, 2013, 11:22 AM)


Rolly


Nov 13, 2013, 11:24 AM

Post #5 of 90 (9133 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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Yep. It's true. I just checked my online transactions, and sure enough there were 3% charges on my recent withdrawals.

Rolly Pirate


joaquinx


Nov 13, 2013, 11:25 AM

Post #6 of 90 (9130 views)

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Re: [Rolly] No more fee free atm withdrawals from BoA

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In Reply To
Yep. It's true. I just checked my online transactions, and sure enough there were 3% charges on my recent withdrawals.


Odd, I made a transaction on the 8th and was charged the usual 1%.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


addtocart

Nov 13, 2013, 11:43 AM

Post #7 of 90 (9117 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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In Reply To
Surely you have a link to BofA verifying this. I can't find this reported on the BofA site.

From the BofA FAQ
What are the fees for using a ATM or debit card at an ATM in a foreign country?

The Non-Bank of America ATM usage fee is $5. This fee is assessed for each withdrawal, transfer or balance inquiry performed at a Non-Bank of America ATM in a foreign country. In addition, the ATM operator may charge an access fee for cash withdrawals.

Your deposit account statement will reflect the U.S. dollar equivalent of your foreign ATM withdrawal. Bank of America will assess an international transaction fee of 1% (Effective November 8, 2013, the fee will change to 3%) of the US dollar amount for all ATM withdrawals processed in foreign currency. Foreign ATM operators may offer to do your currency conversion for you, but they may charge a higher fee for conversion. To insure that your currency conversion does not incur a fee higher than the one stated above, you may refuse the ATM operator's offer to convert the amount of the transaction. The fee is assessed as a separate transaction fee on the posting date of the withdrawal.

You can avoid the Non-Bank of America ATM usage fee and ATM operator access fee by using one of our international partner ATMs in the corresponding countries listed below:

Barclays (England, Northern Ireland, Scotland, Wales, Jersey, Guernsey and the Channel Islands)
BNP Paribas (France)
BNL D’Italia (Italy)
UkrSibbank (Ukraine)
Deutsche Bank (Germany)
Scotia Bank (Canada, Peru, Chile and the Caribbean including: Anguilla, Antigua & Barbuda, The Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Saint Maarten, Puerto Rico, Saint Kitts & Nevis, Saint Lucia, Saint Vincent & the Grenadines, Trinidad & Tobago, Turks & Caicos Islands, U.S. Virgin Islands)
Westpac Bank (Australia and New Zealand)
China Construction Bank (Mainland China)
Santander (Mexico)

https://www.bankofamerica.com/...nage/faq-atm-fees.go


This is confusing. All I know for sure is BofA is charging 3% when I withdraw from a Santander ATM.


cbviajero

Nov 13, 2013, 11:48 AM

Post #8 of 90 (9113 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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Surely you have a link to BofA verifying this. I can't find this reported on the BofA site.

No I don't have a link verifying this,but I just got off the phone with a BoA representative who did indeed verify this and offered to reverse the fee they charged me yesterday but in the future they will be charging this outrageous fee.
Is that good enough for you Joaquinx?


(This post was edited by cbviajero on Nov 13, 2013, 11:50 AM)


joaquinx


Nov 13, 2013, 11:53 AM

Post #9 of 90 (9101 views)

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Re: [cbviajero] No more fee free atm withdrawals from BoA

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In Reply To
Surely you have a link to BofA verifying this. I can't find this reported on the BofA site.

No I don't have a link verifying this,but I just got off the phone with a BoA representative who did indeed verify this and offered to reverse the fee they charged me yesterday but in the future they will be charging this outrageous fee.
Is that good enough for you Joaquinx?


Easy there. No one likes to hear bad news. I guess we'll have to be watchful for better conversion rates and take advantage of the better rate when it appears whether we need the cash or not.

It seems that BofA is doing there best to piss off their customers. I am guessing that their CEO needed a new yacht or private jet.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


TessSC

Nov 13, 2013, 11:58 AM

Post #10 of 90 (9095 views)

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Re: [Rolly] No more fee free atm withdrawals from BoA

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I got a 3% fee the 11th but just got off the phone with a B of A Supervisor who could not find anything referencing a change in the Global ATM alliance and has started a research project to see if it is the case or a glitch in the system.


joaquinx


Nov 13, 2013, 12:34 PM

Post #11 of 90 (9070 views)

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Re: [TessSC] No more fee free atm withdrawals from BoA

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In Reply To
I got a 3% fee the 11th but just got off the phone with a B of A Supervisor who could not find anything referencing a change in the Global ATM alliance and has started a research project to see if it is the case or a glitch in the system.


You can avoid the Non-Bank of America ATM usage fee and ATM operator access fee by using one of our international partner ATMs in the corresponding countries listed below:

If we use Scotia or Santander we avoid the above fees, but there is no mention of the international transaction fee. The Non-Bank of America ATM fee is 5 usd, while the ATM operator fee is like when you withdraw 4,000 pesos and the ATM transmits an amount of 4,025 pesos and keeps the 25 pesos as their fee. Your account statement will now show for a Santander or Scotia withdraw a 3% fee.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


addtocart

Nov 13, 2013, 12:42 PM

Post #12 of 90 (9064 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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I think I liked it when BofA just hid the charges in the peso/dollar conversion. The way it is now there is a separate charge on my account each time I withdraw and that makes me crazy.


La Isla


Nov 13, 2013, 1:05 PM

Post #13 of 90 (9055 views)

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Re: [addtocart] No more fee free atm withdrawals from BoA

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I think I liked it when BofA just hid the charges in the peso/dollar conversion. The way it is now there is a separate charge on my account each time I withdraw and that makes me crazy.


Me too! I just checked my BOA account online and found the outrageous 3% fee charged to a couple of withdrawals I've made since November 8


cbviajero

Nov 13, 2013, 1:08 PM

Post #14 of 90 (9055 views)

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Re: [addtocart] No more fee free atm withdrawals from BoA

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I think I liked it when BofA just hid the charges in the peso/dollar conversion. The way it is now there is a separate charge on my account each time I withdraw and that makes me crazy.

BoA has always given me a very good rate of exchange on my atm withdrawals.


Rolly


Nov 13, 2013, 1:14 PM

Post #15 of 90 (9040 views)

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Re: [addtocart] No more fee free atm withdrawals from BoA

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In Reply To
I think I liked it when BofA just hid the charges in the peso/dollar conversion. The way it is now there is a separate charge on my account each time I withdraw and that makes me crazy.


They were not hidding a 3% charge. USA banking rules forbid hidden charges.
There was no 3% charge on ATMs until now. On credit cards, yes; ATMs, no.

Rolly Pirate


cbviajero

Nov 13, 2013, 1:20 PM

Post #16 of 90 (9034 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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In Reply To
but there is no mention of the international transaction fee..

Really?That is exactly what they're calling it on my online statement.


joaquinx


Nov 13, 2013, 1:23 PM

Post #17 of 90 (9028 views)

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Re: [cbviajero] No more fee free atm withdrawals from BoA

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In Reply To
but there is no mention of the international transaction fee..

Really?That is exactly what they're calling it on my online statement.


I wasn't referring to the statement, but to the FAQ quote.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


darrellk

Nov 13, 2013, 2:05 PM

Post #18 of 90 (9016 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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Sure am glad I haven't opened my BOA account yet, didn't like them anyways! Dirty dogs.


addtocart

Nov 13, 2013, 2:09 PM

Post #19 of 90 (9012 views)

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Re: [Rolly] No more fee free atm withdrawals from BoA

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In Reply To

In Reply To
I think I liked it when BofA just hid the charges in the peso/dollar conversion. The way it is now there is a separate charge on my account each time I withdraw and that makes me crazy.


They were not hiding a 3% charge. USA banking rules forbid hidden charges.
There was no 3% charge on ATMs until now. On credit cards, yes; ATMs, no.

You're right. No banks in the US ever do anything against the rules.


chicois8

Nov 13, 2013, 2:15 PM

Post #20 of 90 (9011 views)

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Re: [addtocart] No more fee free atm withdrawals from BoA

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I withdrew 6000 pesos from an ATM this morning using my Schwab Bank card and after checking my bank account online I received 13.10 Pesos to the dollar, the exact rate published today by the Bank of Mexico...All fees are paid by Schwab Bank and are shown on the end of the month statement.......Foolish to be a BofA customer.....
Rincon de Guayabitos,Nayarit
San Mateo, California


addtocart

Nov 13, 2013, 2:21 PM

Post #21 of 90 (9007 views)

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Re: [chicois8] No more fee free atm withdrawals from BoA

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I withdrew 6000 pesos from an ATM this morning using my Schwab Bank card and after checking my bank account online I received 13.10 Pesos to the dollar, the exact rate published today by the Bank of Mexico...All fees are paid by Schwab Bank and are shown on the end of the month statement.......Foolish to be a BofA customer.....

Now that's just mean.


cbviajero

Nov 13, 2013, 2:45 PM

Post #22 of 90 (8997 views)

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Re: [chicois8] No more fee free atm withdrawals from BoA

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The free atm withdrawals and good exchange rate were my main reason for keeping an account with BoA,unless I can get them to waive these fees I'll be looking for alternatives,Schwab's one of them.


joaquinx


Nov 13, 2013, 2:51 PM

Post #23 of 90 (8992 views)

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Re: [addtocart] No more fee free atm withdrawals from BoA

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Some are like trolls, lurking to pounce the those they feel are unworthy. But we have none here, right?
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


esperanza

Nov 13, 2013, 3:20 PM

Post #24 of 90 (8980 views)

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Re: [joaquinx] No more fee free atm withdrawals from BoA

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The OP mentioned that this became effective Nov. 8. I have made Santander ATM withdrawals with my BofA debit card since then with no fees charged. Who knows.

http://www.mexicocooks.typepad.com









La Isla


Nov 13, 2013, 3:42 PM

Post #25 of 90 (8972 views)

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Re: [esperanza] No more fee free atm withdrawals from BoA

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The OP mentioned that this became effective Nov. 8. I have made Santander ATM withdrawals with my BofA debit card since then with no fees charged. Who knows.


That's odd, esperanza, because I have done the same and had charges deducted from my account. Maybe you and I have different kinds of accounts with BofA.
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