Atm fees - Page 2

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Atm fees - Page 2


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  #11 (permalink)  
Old 8th May 2010, 02:27 PM
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For any of you who have had military service, you may wish to check USAA.com and consider joining. That will allow you to use the USAA Federal Savings Bank and avoid these withdrawal fees. Any that are charged are paid by USAA and not you. In years past, this membership was limited to officers and their families, then senior enlisted. Now, It appears that it is open to all, active or veteran. There are many other advantages that you will discover, especially if you have stateside property, etc.

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Old 10th May 2010, 09:16 PM
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For german expats I recommend a DKB-Visa card. Worldwide free cash at all ATMs ...well itīs not free but you donīt have to pay a fee ;-)

Saludos

Florian / Mexprax Relocation Services S.A. de C.V.

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  #13 (permalink)  
Old 14th May 2010, 01:03 AM
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In my area, ScotiaBank is now charging $21 plus IVA with a MX$3000 limit per transaction (previously $11), and Banamex is charging $25 plus IVA, with a MX$4000 limit per transaction (previously free). Santander's fees here were excessive before this last jump in cost, and I haven't checked Bancomer or HSBC's ATMs.

I can deposit a US check in my account here, but the MX bank told me it would be 3 to 4 weeks for access to the funds because they are not connected electronically to the US banking system.

I would use wires, but thanks to all of the regulations, my US bank does not seem to want to send wires of MY money to MY account here in MX. I live a cash life and avoid using my credit cards here in MX.

The USAA thing would work, but my US bank seems to have gone deaf to customer service. My US bank would need to request a connection to USAA, according to their website. I have no plans to travel to the US, and it has gotten difficult to open a new account in a strange bank in the US without showing your face when opening the account.

Maybe the casa de inversiones would work better to send a periodic larger wire transfer here to myself in MX for living expenses. How do I find one which is reliable in Queretaro state (and do I need to open an investment account as well to do business with them ?

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Old 14th May 2010, 03:40 AM
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Wow, all this makes me glad I'm with Charles Schwab bank. Although they have done some things to aggravate me, they do reimburse 100% of my international ATM fees so that I wind up paying nothing for any withdrawal. I guess I better watch and see how long they keep that up!

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  #15 (permalink)  
Old 15th May 2010, 01:15 AM
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for a lot of us, the only option seems to be just to withdraw the absolute maximum when you use the ATM so you only get hit with the minimum number of withdrawal fees. because the exchange rates change on a daily basis, it's a little hard to confirm how much the "maximum" withdrawal is. that is, my US bank says i can have, say, no more than $500US a day withdrawn, but then i have to check to see how many pesos that translates to. can i get $5,000MX or $6,000MX for that amount??

nonetheless, i'm happy to have the convenience of using an ATM to get my cash from an american bank using a mexican bank's ATM. and to be able to take advantage of withdrawing cash when the exchange rate is favorable to me.

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Old 15th May 2010, 10:27 PM
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Quote:
Originally Posted by GringoCArlos View Post
In my area, ScotiaBank is now charging $21 plus IVA with a MX$3000 limit per transaction (previously $11), and Banamex is charging $25 plus IVA, with a MX$4000 limit per transaction (previously free). Santander's fees here were excessive before this last jump in cost, and I haven't checked Bancomer or HSBC's ATMs.......
I am a Scotiabank customer in Canada, so all my ATM withdrawals from a Scotiabank ATM anywhere in the world are free.
The screen on the Scotiabank ATM in Zihuatanejo said the maximum withdrawal was 3000 pesos, so that's what I was taking. My daily cash limit is $1000 Canadian, so I would often do three withdrawals at a time.....3000 x 3 = 9000 pesos.

Others have since advised that if you choose the option "Other" as the amount, you can withdraw up to at least 9000 pesos in one transaction, (provided that amount doesn't exceed the limit set by your home bank).

Another problem is that the ATM usually gave four 500 peso notes in every 3000 peso withdrawal. If you take 9000 pesos, you've got twelve 500 peso bills to try to get rid of. Solution? As soon as you've made your ATM withdrawal, go to a teller, (provided there isn't a huge line-up), and exchange those 500 peso bills for 100's and 200's. Of course, this being Mexico, they wouldn't provide change for more than 2000 pesos at a time, leaving you with eight 500 peso bills.

Ever tried paying your 60 peso laundry bill with a 500?

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  #17 (permalink)  
Old 15th May 2010, 11:05 PM
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holymoly, those $500MX notes are always a pain, aren't they? here around lake chapala about the only places you can unload them with frequency are at the Pemex gas stations and the Paz liquor stores. personally, i also use them to pay my rent and at Costco when i'm there, or during the early spring i save them to pay for my car insurance, my FM3 renewal costs, and my IMSS renewal costs.

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Old 16th May 2010, 12:44 PM
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The USAA possibility is useful. Right now we use wire transfers from our US credit union to Actinver Lloyd. Costs $15 US but we do in large amounts.
We distribute our cash across Lloyds options that balance return and availability. We actually make a lot more on our Lloyd's accounts than we would in the US.
I think we might have done 1 ATM transaction in the last 6 months. Other values with our Lloyds are no lines and no problem with getting smaller bills.

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Old 5th June 2010, 01:03 AM
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Quote:
Originally Posted by circle110 View Post
Wow, all this makes me glad I'm with Charles Schwab bank. Although they have done some things to aggravate me, they do reimburse 100% of my international ATM fees so that I wind up paying nothing for any withdrawal. I guess I better watch and see how long they keep that up!
Edward Jones is the same.

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Old 5th June 2010, 04:48 PM
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RV Gringo: I joined the USAA but I see that there are limitations and hidden ATM fees with their accounts. You are charged a 1% transacton fee outside the USA. Your credit for foreign machine fees are limited to $15.00. There is no free lunch!!

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