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La Isla


Nov 18, 2013, 8:54 PM

Post #76 of 90 (2316 views)

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Re: [salto_jorge] atm withdrawals from BoA

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I've been checking my BofA account online ever since this discussion started on Mexconnect. Except for one online payment made on November 15, the BofA transactions I've made (withdrawals from a Santander ATM and a few debit card purchases) since November 14 are still "processing", and the 3% fee has not been levied on any of them. I find this odd as past transactions have never remained in the "processing" stage for more than a day.


mazbeach

Nov 19, 2013, 5:06 AM

Post #77 of 90 (2296 views)

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Re: [La Isla] atm withdrawals from BoA

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It took three days for mine to show up. At first I thought they were going to hold charges until the next statement, but I was wrong.


joaquinx


Nov 19, 2013, 5:46 AM

Post #78 of 90 (2292 views)

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atm withdrawals from BoA

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The withdraw from Santander yesterday of 309.51 usd just got hit with a 9.29 usd ITF. My exchange rate of 12.92 just fell to 12.54.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.

(This post was edited by joaquinx on Nov 19, 2013, 7:10 AM)


esperanza

Nov 19, 2013, 6:11 AM

Post #79 of 90 (2286 views)

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Re: [joaquinx] atm withdrawals from BoA

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The withdraw from Santander yesterday of 309.51 pesos just got hit with a 9.29 usd ITF. My exchange rate of 12.92 just fell to 12.54.

Surely you mean $309.51USD...otherwise we are all sunk.

http://www.mexicocooks.typepad.com









joaquinx


Nov 19, 2013, 6:20 AM

Post #80 of 90 (2278 views)

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Re: [esperanza] atm withdrawals from BoA

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In Reply To
The withdraw from Santander yesterday of 309.51 pesos just got hit with a 9.29 usd ITF. My exchange rate of 12.92 just fell to 12.54.

Surely you mean $309.51USD...otherwise we are all sunk.


oops, thanks for the correction. my reply was blinded by the lack of coffee.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


esperanza

Nov 19, 2013, 7:06 AM

Post #81 of 90 (2253 views)

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Re: [joaquinx] atm withdrawals from BoA

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In Reply To

In Reply To
The withdraw from Santander yesterday of 309.51 pesos just got hit with a 9.29 usd ITF. My exchange rate of 12.92 just fell to 12.54.

Surely you mean $309.51USD...otherwise we are all sunk.


oops, thanks for the correction. my reply was blinded by the lack of coffee.

Not that we are not sunk anyway. LOL...

http://www.mexicocooks.typepad.com









La Isla


Nov 19, 2013, 9:16 AM

Post #82 of 90 (2209 views)

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Re: [mazbeach] atm withdrawals from BoA

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Mine just showed up this morning, unfortunately. Now for some good news: I just got off the phone with a very helpful guy at the FBU at the US Embassy in Mexico City. In a few minutes, he was able to change the direct-deposit instructions for my SS checks from BofA to Santander, where I already have an account. He assured me that my next check will be deposited to my Santander account. Next I have to tackle JP Morgan, the company in charge of the payment of pension check #2. From previous experience with them, that will not be a piece of cake.


joaquinx


Nov 19, 2013, 11:02 AM

Post #83 of 90 (2192 views)

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Re: [La Isla] atm withdrawals from BoA

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I just got off the phone with a very helpful guy at the FBU at the US Embassy in Mexico City. In a few minutes, he was able to change the direct-deposit instructions for my SS checks from BofA to Santander, where I already have an account. He assured me that my next check will be deposited to my Santander account.


This sounds like a plan, however, who will do the currency conversion? Will it differ from ATM rates? Or will it be Santander rates here in Mexico?
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


La Isla


Nov 19, 2013, 11:06 AM

Post #84 of 90 (2187 views)

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Re: [joaquinx] atm withdrawals from BoA

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I just got off the phone with a very helpful guy at the FBU at the US Embassy in Mexico City. In a few minutes, he was able to change the direct-deposit instructions for my SS checks from BofA to Santander, where I already have an account. He assured me that my next check will be deposited to my Santander account.


This sounds like a plan, however, who will do the currency conversion? Will it differ from ATM rates? Or will it be Santander rates here in Mexico?


Good questions to which I have no answers. I'm more interested in figuring out how to transfer the money I still have in my BofA account to my Santander account. I wonder if that's even possible. If not, on my next trip to the States, I'll visit a BofA branch and close the account in person.


esperanza

Nov 19, 2013, 11:27 AM

Post #85 of 90 (2178 views)

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Re: [La Isla] atm withdrawals from BoA

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The question is, if you want to buy something from a USA vendor--Amazon, for example, or eBay--how will you pay in dollars?

http://www.mexicocooks.typepad.com









La Isla


Nov 19, 2013, 11:48 AM

Post #86 of 90 (2164 views)

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Re: [esperanza] atm withdrawals from BoA

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The question is, if you want to buy something from a USA vendor--Amazon, for example, or eBay--how will you pay in dollars?


That's a good point though I rarely buy things over the internet these days, except for the plane ticket for my annual trip to the States. Maybe I'll keep my BofA account for just that occasion.


morgaine7


Nov 19, 2013, 12:14 PM

Post #87 of 90 (2158 views)

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Re: [La Isla] atm withdrawals from BoA

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Be sure to ask your pension plan #2 people about withholding. Certain retirement funds are subject to 30% mandatory withholding if the money is transferred directly outside the US. I get around that by having those funds deposited to a US account. Then I write a personal check on the US account for deposit to my Bancomer account. It comes through in about eight days, and there are no fees. Exchange rate isn't as good as what I get for the SS payments, but it's okay. And I can keep enough in my US account for airline tickets and the like.

If you decide to transfer your money from B of A, see if Santander will accept a check for deposit as described above.

Kate


joaquinx


Nov 19, 2013, 1:23 PM

Post #88 of 90 (2144 views)

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Re: [esperanza] atm withdrawals from BoA

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The question is, if you want to buy something from a USA vendor--Amazon, for example, or eBay--how will you pay in dollars?

Mexican Paypal. Works for me with my HSBC Visa debit.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


La Isla


Nov 19, 2013, 1:48 PM

Post #89 of 90 (2130 views)

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Re: [morgaine7] atm withdrawals from BoA

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Be sure to ask your pension plan #2 people about withholding. Certain retirement funds are subject to 30% mandatory withholding if the money is transferred directly outside the US. I get around that by having those funds deposited to a US account. Then I write a personal check on the US account for deposit to my Bancomer account. It comes through in about eight days, and there are no fees. Exchange rate isn't as good as what I get for the SS payments, but it's okay. And I can keep enough in my US account for airline tickets and the like.

If you decide to transfer your money from B of A, see if Santander will accept a check for deposit as described above.

Kate


Unfortunately, when I opened my BofA account several years ago, I told them I wouldn't need checks since they are so seldom used in Mexico, so that idea won't fly unless I can order checks and have them sent to me here. My second pension is a traditional employer-paid pension, not a retirement fund, such as a 401(k). I don't know if that will make any difference as far as the 30% mandatory withholding you mention is concerned. In any event, thanks for the heads-up. I will be sure to research the matter thoroughly before making any more changes in my direct-deposit arrangements. And more thanks for your very informative post!


RickS


Nov 19, 2013, 2:08 PM

Post #90 of 90 (2130 views)

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Re: [La Isla] atm withdrawals from BoA

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Due to the length of this thread, I will be locking it. I will start a new one called " BoA II "
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