BofA 3% ATM fee

[Talleyho69]

As most of you know by now, Bank of America is, as of November 8, charging a 3% fee for ATM use at Santander. Here is a link to an on line petition protesting it.

http://www.change.org/petitions/bank-of-america-eliminate-the-3-international-transaction-fee-imposed-on-11-7-2013-on-atm-transactions-within-the-global-alliance-banks?share_id=tsKqTLdtCx&utm_campaign=autopublish&utm_medium=facebook&utm_source=share_petition

[moisheh]

Fees charged by the owner of a machine in Mexico will vary from place to place. I think it is because the machine owner shares the fees with the store. Even then a bank in Mexico will charge different fees in a large city than in a tourist town. Known as gouging! Here in Kino the one ATM ( bank owned) charges about 69 pesos to use the machine while 30 miles away the fees are 29 pesos. I am fortunate to have a grandfathered no fee arrangement with my USA bank for Mexican withdrawals but that only covers the fees from the USA bank.

Moisheh

[briansue]

If at all possible we always get our cash from a machine at an actual bank and not at kiosk machines located in places like Pemex or OXXO - we think banks are the cheapest and safest place to use a machine - but we could be wrong.

[Talleyho69]

Yes, Scotiabank too.
The company that is/has placed ATM's in OXXO is Allpoint. They are known for their fee free ATM's in several countries.
Unfortunately, at the moment, they are having an issue with their system in Mexico, and although it will go back up, they are not saying when, nor are they currently listing their machines as being in Mexico. Capital 360 is one of obviously several banks that was offering the use of Allpoint with no fee, and will be again when the system is restored.
Here is a link to the Allpoint site: http://www.allpointnetwork.com/

[Tequila]

Are they charging for using Scotiabank machines as well? Scotiabank is gettign into an arrangement to stock OXXO's with ATM's, so they will soon be everywhere.

Link

[fla-gypsy]

Typical of BofA and many other banks and all the more reason to bank with a CU.

[M_GO_BLUE1]

CREDIT UNION

[sonora]

Here is another option you can do but you also need to have a open brokerage account with them. You can download the account application forms online. It's called the Schwab Bank High Yield Investor Checking account: http://money.cnn.com/galleries/2011/pf/1101/gallery.least_evil_banks/8.html And this:http://money.usnews.com/money/blogs/my-money/2013/07/17/Save-Money-Summer-Travel-Avoiding-ATM-Fees

This has been discussed since September on the Bajanomad forums. You can do a search there and read up on it.

Hope this helps!

[Wm_Elliot]

Credit Unions are by far the best cards to use.

[briansue]

Depending on which story you read and what various experts think BofA owes somewhere between $800 million and $3 billion for mortgage fraud in the whole meltdown they caused. To big to fail. They will need all the fees they can collect to pay the fines being assessed against them.

Get into a Credit Union and forget about banks or they will suck you dry.

[Talleyho69]

You are correct. The first quote about fees is correct for that account, but the $9 limit for refunds is not.

[sonora]

Talleyho69 wrote:
I just checked their website, and it sounds as if they won't refund Foreign Exchange Fees. Have they done it for you?

Here is what the website says: Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa® Platinum debit card (also referred to as a "check card" or "Visa check card") wherever it is accepted. ATM fee rebates do not apply to any fees other than fees assessed for using an ATM to withdraw cash from your Schwab Bank account.

There is also this note, that limits rebates to $9.00 a statement period:
We do not charge any fees for use of any ATM. If you use a machine that is not a Schwab Bank ATM, you may be charged a fee by the ATM operator or any network used. This may include a fee for a balance inquiry even if you do not complete a withdrawal or other monetary transaction. We offer a rebate on these fees assessed by others: For Interest Checking, Regular Checking, and Basic Checking up to first 6 transactions not to exceed $9.00 per statement period. Schwab Bank reserves the right to discontinue or modify the ATM Fee Rebate program at any time.

I posted to get the Interest Checking Plus account. This account does not have a 9 dollar ATM refund limit. Also since they do NOT charge an international transaction fee, there is nothing for them to refund on that.

If you don't believe the information I posted, I suggest you call their toll free number and ask them yourself. Or stay with BOA and give them 3% of your money.

[path1]

Everything that has happened in the last 5 years I can't believe people still use them. Those people get what they deserve, which is bad service and problems. Why complain now! Stick with them.
Google up Bank of America & crime" looks like a "rap" sheet.

https://www.google.com/#q=list+of+bank+of+america+crimes

[wski]

Just another way BofA says thank you for being a customer. I would stuff a mattress before I gave BofA a penny....

[Talleyho69]

I just checked their website, and it sounds as if they won't refund Foreign Exchange Fees. Have they done it for you?

Here is what the website says: Unlimited ATM fee rebates apply to cash withdrawals using the Schwab Bank Visa® Platinum debit card (also referred to as a "check card" or "Visa check card") wherever it is accepted. ATM fee rebates do not apply to any fees other than fees assessed for using an ATM to withdraw cash from your Schwab Bank account.

There is also this note, that limits rebates to $9.00 a statement period:
We do not charge any fees for use of any ATM. If you use a machine that is not a Schwab Bank ATM, you may be charged a fee by the ATM operator or any network used. This may include a fee for a balance inquiry even if you do not complete a withdrawal or other monetary transaction. We offer a rebate on these fees assessed by others: For Interest Checking, Regular Checking, and Basic Checking up to first 6 transactions not to exceed $9.00 per statement period. Schwab Bank reserves the right to discontinue or modify the ATM Fee Rebate program at any time.

[sonora]

Open a interest Checking Plus account at Charles Schwab Bank in Reno NV. (Google it) They reimburse ALL ATM charges and have no "International Transaction Fees" Not being limited to Santander ATM's is also another great benefit!