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

[briansue]

Also currently as of today diesel is cheaper in Nogales, AZ than Mexico at $2.76/gal. The Speedway @ the corner of Grand & Mariposa in Nogales

Do you mean 12-14-2013? or some other year?

I found Diesel on MSN for $3.759 at the Circle K in Nogales - cheapest I found in AZ was $3.659 in Eloy.

[qtla9111]

Wow, it increased to $500. However it is for the holiday season.

Aumento de la franquicia

Del 1 de noviembre de 2013 al 8 de enero de 2014 la franquicia para los pasajeros de nacionalidad mexicana que arriben al país por vía terrestre se incrementa a 500 dólares.

[moisheh]

Rocmoc: Lay off the Margaritas. Your post stated that diesel was $2.76 in Nogales,AZ. You forgot to mention it was 6 years ago!

Moisheh

[moisheh]

Chris. The changes happened this week. I cross frequently so it is a big deal. here is a link

New Import Regulations

At the same time many items have become duty free and many goods from China have much lower duties. But you can bet that the prices in the stores will not drop.

Moisheh

[qtla9111]

Diesel is now 12.49 pesos per litre. So that would be $3.65 a gallon at an exchange rate of 13 pesos to the dollar.

I think, and correct me if I'm wrong, the $300 per person franquisia is for the holiday season only.

[rocmoc]

Moisheh, the price could be off a little. This was '06 or '07 when prices spiked to the all time highs for AZ. I do remember a dollar plus differential. Yes, you can get gasoline for around $3/gal in Nogales as well. WOW on the rest, we will be complying ;).

rocmoc n AZ/Mexico

[moisheh]

Rocmoc; Are you sure diesel is $2,76? That would be the cheapest fuel in North America by almost $1.00.. Diesel has been rising for many months and in Tucson it was $3.7x last week. I think you saw the price of gasoline which was $2.98 in Tucson. Diesel is always higher. And yes I stated that the $300 limit was going INTO Mexico and the diesel and gas limits are going into Mexico.

Moisheh

[rocmoc]

Moisheh, are you talking about $300 USA per person INTO Mexico? Are you talking about diesel imported into Mexico or USA? If USA, when I was crossing over for the the diesel a couple of years ago USA Customs had instituted a 200 gal limit. Any more and they would take it and there was a limit over a 30 day period. USA Customs was tracking every crossing. My Dodge Ram tankS hold 90 gals so no problem. Also currently as of today diesel is cheaper in Nogales, AZ than Mexico at $3.76/gal. The Speedway @ the corner of Grand & Mariposa in Nogales.

rocmoc n AZ/Mexico

[moisheh]

BTW: Mexico has redone all of their import duties. One can now bring $300 per person with no duty or taxes. I also noticed that importing gasoline or diesel is illegal. You can only bring what your ORIGINAL tank can hold.

Moisheh

[rocmoc]

moisheh wrote:
Rocmoc: No US or Canadian bank will give you a good rate on getting cash. BUT if you use an ATM in Mexico you should get a current fair rate from your bank. I thought you had a stash in the back yard!

Moisheh

I used it all up a couple of years ago crossing into Nogales to purchase diesel when prices in AZ went over $4/gal and MX was still in the high $2. I was saving over a $1/gal so it was worth the trouble then. Looks like the 3% ATM fee is still the best deal for us since BofA is going to charge us 5% on the conversion NOB.

rocmoc n AZ/Mexico

[Talleyho69]

He's so right-the ATM rates are way better than cash rates. Gossip says, and a token bit of experience says that rates do vary a bit from bank to bank, but remember that they do change minute to minute.

[moisheh]

Rocmoc: No US or Canadian bank will give you a good rate on getting cash. BUT if you use an ATM in Mexico you should get a current fair rate from your bank. I thought you had a stash in the back yard!

Moisheh

[rocmoc]

Besides the 3% fee BofA is charging, what is the exchange rate they are giving when you use an ATM? We went by BofA today to ask what we could get/purchase Pesos for. We have an account with them so there is not an upfront fee BUT the exchange rate was 12.26 pesos per dollar. A search of the internet shows the exchange rate as 12.97 pesos per dollar. If this is true, BofA is charging 5.75% in the conversion. What has been your conversion rate? Thanks!

rocmoc n AZ/Mexico

[Galvanizd]

Disregard, found my answer,


Bank of America International Transaction Fee (Foreign Currency Conversion Fee)
For transactions in currencies other than U.S. Dollars when using a Bank of America ATM card or debit/check card, Bank of America may charge its account holders an International Transaction Fee for purchases or ATM cash withdrawals regardless of whether the transaction occurs within the Global ATM Alliance or outside the Global ATM Alliance.For each ATM cash withdrawal, this International Transaction Fee is 3% of the U.S. Dollar Amount (as of November 8, 2013), and for each purchase, this International Transaction Fee is 3% of the U.S. Dollar Amount. This fee appears as a separate item on the Bank of America account holder's banking statement for each international transaction.

[Galvanizd]

Talleyho69 wrote:
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

I'm a little confused. I realize what actually happens at an ATM machine and what a website says might be entirely different . So are you referring to credit cards or debit cards or both that Boa is charging a fee. Boa has always charged a FTF when we used a credit card in another country but not a debit card fee when using a Boa affiliate.
Just looking for clarification . Here's what the Boa website has posted.

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)