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morgaine7


Nov 13, 2013, 3:45 PM

Post #26 of 90 (4496 views)

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

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Someone on another forum reported receiving notice from B of A with Nov 2 as the effective date. Could it be that they're "phasing in" the new fees with different client groups?

Kate


esperanza

Nov 13, 2013, 3:53 PM

Post #27 of 90 (4491 views)

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

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I just looked on the BofA website and the Global Alliance portion still shows that Santander is included at no charge. Maybe morgaine is right. Ugh.

http://www.mexicocooks.typepad.com









(This post was edited by esperanza on Nov 13, 2013, 3:53 PM)


La Isla


Nov 13, 2013, 4:11 PM

Post #28 of 90 (4480 views)

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

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The whole thing is very upsetting. Right now the idea of changing the direct deposit destination of my two pension checks to another bank does not appeal to me, and I could end up paying more to a new bank than I would if I kept my BofA account. What to do, what to do ...?


tashby


Nov 13, 2013, 5:28 PM

Post #29 of 90 (4460 views)

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Re: [morgaine7] No more fee free atm withdrawals from BoA

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II went to the BofA website today and see that, yes, my first 3% fee was on an atm withdrawl dated Nov. 10 from a Scotiabank atm. What to do? I'm going to wait and see how it shakes out....like everything else here.

If these remain in effect, and I imagine they will, then it's time to explore alternatives.


(This post was edited by tashby on Nov 13, 2013, 5:29 PM)


sparks


Nov 14, 2013, 5:26 AM

Post #30 of 90 (4411 views)

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

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How about writing a BOA check to Intercam. Seems like you'd bypass their fees that way

Sparks Mexico Blog - Sparks Costalegre


joaquinx


Nov 14, 2013, 6:06 AM

Post #31 of 90 (4397 views)

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

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The whole thing is very upsetting. Right now the idea of changing the direct deposit destination of my two pension checks to another bank does not appeal to me, and I could end up paying more to a new bank than I would if I kept my BofA account. What to do, what to do ...?


Yes, the thought of doing this is upsetting. We must keep calm and remember how BofA has treated us as customers. Switching banks while in Mexico is difficult. We might have to actually go NOB to do this.

My typical withdraw is 4,000 pesos which lately is around 308 usd. This translates to an increase from 3 usd to 9 usd at my HSBC bank and 9 usd additional at Santander and Scotia.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


La Isla


Nov 14, 2013, 7:23 AM

Post #32 of 90 (4374 views)

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

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How about writing a BOA check to Intercam. Seems like you'd bypass their fees that way


I don't have checks. Never needed them before.


Don


Nov 14, 2013, 7:38 AM

Post #33 of 90 (4368 views)

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

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On November 11, I made an ATM withdrawal on B of A Debit card at a Santander Bank in Jalisco State. I was charged a 3 % fee. I called B of A in U.S. and they apologized to me and immediately refunded the charge.


La Isla


Nov 14, 2013, 7:40 AM

Post #34 of 90 (4364 views)

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

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On November 11, I made an ATM withdrawal on B of A Debit card at a Santander Bank in Jalisco State. I was charged a 3 % fee. I called B of A in U.S. and they apologized to me and immediately refunded the charge.



cbviajero

Nov 14, 2013, 8:00 AM

Post #35 of 90 (4348 views)

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

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They did the same for me and even offered me a $50 gift card but said that in the future the 3% would apply.I'm going see if I can get a supervisor to waive the fees due to the fact that supposedly I'm a "preferred customer",if not I guess I'll just start depositing BoA checks at local institutions like another poster suggested,no way am I going to pay 3% to access my own funds.


geoffbob

Nov 14, 2013, 8:10 AM

Post #36 of 90 (4346 views)

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

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I just got off the phone with BoA and they confirm the new 3% charge as of Nov. 8th. I'm going to call Schwab and, unless they too have changed their policy, I'm going to transfer all my BoA money to them and instruct Soc. Sec. to make electronic deposits to the Schwab account. The last time I spoke to Schwab was about a month ago and they told me that I could use any ATM in D.F. not just limited to particular banks and they (Schwab) would pay any and all fees.


La Isla


Nov 14, 2013, 8:26 AM

Post #37 of 90 (4335 views)

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

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I just got off the phone with BoA and they confirm the new 3% charge as of Nov. 8th. I'm going to call Schwab and, unless they too have changed their policy, I'm going to transfer all my BoA money to them and instruct Soc. Sec. to make electronic deposits to the Schwab account. The last time I spoke to Schwab was about a month ago and they told me that I could use any ATM in D.F. not just limited to particular banks and they (Schwab) would pay any and all fees.


Is there a minimum balance you need to keep with Schwab? Can I open an account from Mexico? Thanks!


addtocart

Nov 14, 2013, 8:44 AM

Post #38 of 90 (4324 views)

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Re: No more fee free atm withdrawals from BoA

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I just made a stab at getting the fee waived. No luck.


geoffbob

Nov 14, 2013, 8:53 AM

Post #39 of 90 (4323 views)

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

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I just got off the phone with Schwab but didn't ask them about a minimum balance because I've only had $12.00 in that account for a couple of years and there has never been any problem with keeping the account open.

They said that their debit card can be used at ATM's bearing the Visa logo or the Interlink logo ..whatever that is. There are fees charged locally but I have confirmation that Schwab pays all of them.

They accepted my brother's address as my new physical address in the USA. It is a U.S. based account and must have a U.S. address. I don't know the reason. maybe it's their policy or could be a law.

To link my Schwab account to BoA so I can transfer blocks of money out to Schwab they e-mailed me a form which must be hand delivered to a Schwab office or mailed to them at the address contained in the form.

I'll keep a little money for a few months in BoA but basically it's adios.


chicois8

Nov 14, 2013, 9:00 AM

Post #40 of 90 (4316 views)

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

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In Reply To
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.


I am not trying to be mean,just pointing out there are alternatives to BofA, I pay no fees on my Citibank account when I use Banamex ATM's and get the days exchange rate........
Ocanahua, Jalisco
San Mateo, California


joaquinx


Nov 14, 2013, 9:07 AM

Post #41 of 90 (4308 views)

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

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Thanks, none of us realized that there are other banks NOB and that we could actually change banks.
_______
My desire to be well-informed is currently at odds with my desire to remain sane.


Rolly


Nov 14, 2013, 9:24 AM

Post #42 of 90 (4296 views)

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

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Unless one has a legal residence in the USA, opening a new bank account may be a big problem.

There is a way to get a USA bank account if you do not have a legal presence in the USA. There is a US bank owned by a Mexican bank that offers free ATM, check cashing and check depositing bi-directionally, that is you can move dollars from the USA to pesos in México and pesos from México to dollars in the USA. The banks are Inter National Bank (INB) in Texas and Banorte in México. Look here: http://www.inbweb.com/ An account with INB can be opened through Banorte without going to the USA or having a legal presence there.

Rolly Pirate


geoffbob

Nov 14, 2013, 9:26 AM

Post #43 of 90 (4292 views)

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

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I just got off Live Chat with Citibank which gives great prominence on their web page to the fact that they charge "no ATM fees" internationally. But when I inquired as to whether or not there are currency conversion fees they admitted that for any withdrawal under USD1,000.00 there is a USD5.00 fee.


chicois8

Nov 14, 2013, 9:44 AM

Post #44 of 90 (4267 views)

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

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I just got off Live Chat with Citibank which gives great prominence on their web page to the fact that they charge "no ATM fees" internationally. But when I inquired as to whether or not there are currency conversion fees they admitted that for any withdrawal under USD1,000.00 there is a USD5.00 fee.



I know what type of account one has with citibank makes a difference, on my account there are no fees at al...
Ocanahua, Jalisco
San Mateo, California


geoffbob

Nov 14, 2013, 9:47 AM

Post #45 of 90 (4263 views)

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

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Good news. What type of account do you have and what are the terms and conditions meaningful to this discussion such as minimum balance or or something?


chicois8

Nov 14, 2013, 9:56 AM

Post #46 of 90 (4260 views)

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

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Good news. What type of account do you have and what are the terms and conditions meaningful to this discussion such as minimum balance or or something?


It's called a Gold Account and probably does have a minimum balance, all I know or care about is I pay no ATM fees or international conversion fees...
Ocanahua, Jalisco
San Mateo, California


Aaron+

Nov 14, 2013, 9:57 AM

Post #47 of 90 (4256 views)

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

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As Rolly notes, INB is owned by Banorte and, at least in theory, one can readily open an account with INB from Mexico as long as one has been a client in good standing (account holder, for example) of Banorte for at least 6 months (some INB correspondence indicates a 1 year requirement). That is, it in theory is not necessary to go to a INB branch. (Branches are all located in s. Texas near the Mexican border.)

Among the flashing slides displayed in my local Banorte branches, the INM account connection is advertised. As Banorte is a Mexican bank, indeed the only major bank in Mexico owned by Mexican nationals, nothing is as simple as it would seem. If you can read or use an online translator, you can find info on the process at
http://www.malagana.net/...ricana-desde-mexico/ being sure to read the comments that update the original article.

Among the new comments note the account minimums to open an INM account (INM accounts are in $US) and the advisory that many Banorte "executives" (flunkies) in your home branch may be unaware of the service or how to proceed, notwithstanding the in-branch ads. (I say "flunkies" advisably, though it is no fault of the employees, just that Banorte seems to provide little or no authority to its "executives" including the nominal branch gerente.

We inquired about opening an INM account back in 2010, with already 1 year of having a Banorte account. At that time, INM reps on the phone denied knowledge of any linkage, and required us to come in person (which was not possible as we passed through Laredo on a Christmas day). In Banorte in Merida, an "executive" told us to expect application documents from INB as a result of his inquiry for us -- do I need to add that we never saw any such documents forthcoming? Anyhow, we have stayed with our friendly and competent small Philadelpha, Pa. bank for a U.S. banking anchor, and using Xe.com to convert and transfer funds to Banorte. (Use a U:S. or Canadian address, not a Mexican address, when opening an Xe or Western Union account.)

(This post was edited by Aaron+ on Nov 14, 2013, 10:03 AM)


chicois8

Nov 14, 2013, 9:59 AM

Post #48 of 90 (4252 views)

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

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Thanks, none of us realized that there are other banks NOB and that we could actually change banks.



Thanks joaquinx, as long as I can help just one person it makes my day.......
Ocanahua, Jalisco
San Mateo, California


johanson


Nov 14, 2013, 10:02 AM

Post #49 of 90 (4247 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.


I just took out $2,000 pesos from a Scotia Bank ATM, using a B of A debit card this Thursday morning.. The $2,000 pesos cost me $153.43 US which gave me an exchange rate of 13.035+ to 1. That was about the spot rate this morning. So far so good, no added fee. I shall keep on checking and should fee on my account show up, I shall immediately let you all know


mazbeach

Nov 14, 2013, 10:51 AM

Post #50 of 90 (4226 views)

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

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Keep an eye on your end-of-month also, when your statement is due. They will be tacking on another $5 International Transaction Fee, in addition to the $4.60 hit on the transaction.
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