No more fee free BoA atm withdrawals

by viajero Wed Nov 13, 2013 12:58 pm

As of November 8 BoA is charging a 3 percent international transaction fee for atm withdrawals even at Santander and Scotia machines,this is very bad news for a lot of people.

by Rolly Wed Nov 13, 2013 1:15 pm

This will cost me about $700 pesos per month at the current exchange rate. SHIT

by viajero Wed Nov 13, 2013 2:12 pm

Rolly wrote:This will cost me about $700 pesos per month at the current exchange rate. SHIT

I pay for all of my family's living expenses through my BoA account,our cost of living just went up by 3 percent,SHIT indeed!

by Zedinmexico Wed Nov 13, 2013 3:33 pm

Ok got 3000P out of the Scocia ATM at Dominoes pizza. It shows up as $228.59 or 13.12P per dollar using standard BOA debit card. Not seeing any change and I did this in the morning. Could the type of account have something to do with this? Current exchange is 13.09 to 13.18 pesos per dollar from five sources.

Z

by Rolly Wed Nov 13, 2013 4:07 pm

Sr. Z,
I'll bet the charge will be there tomorrow. Those things are processed at night.

by Pedro Wed Nov 13, 2013 4:27 pm

Zedinmexico wrote:Ok got 3000P out of the Scocia ATM at Dominoes pizza. It shows up as $228.59 or 13.12P per dollar using standard BOA debit card. Not seeing any change and I did this in the morning. Could the type of account have something to do with this? Current exchange is 13.09 to 13.18 pesos per dollar from five sources.

Z

scotia as in scotiabank and/or bank of nova scotia

by Zedinmexico Wed Nov 13, 2013 5:31 pm

Rolly wrote:Sr. Z,
I'll bet the charge will be there tomorrow. Those things are processed at night.

Got nothing added on 11/8 BOA debit withdrawl at Scocia ATM at Dominoes in Ajijic.
Will check tomorrow and see if you are right. I am betting that if no charge tomorrow it
is the type of account I have.

Z

by Infidel Wed Nov 13, 2013 5:39 pm

Did a window pop up on the ATM screen detailing thee fee? If not, perhaps the announcement is ahead of the game.

by viajero Wed Nov 13, 2013 6:08 pm

Infidel wrote:Did a window pop up on the ATM screen detailing thee fee? If not, perhaps the announcement is ahead of the game.

No window popped up,the fee showed up on my online statement a day after I made the withdrawal.
What announcement were you referring to?

by Rosa Venus Wed Nov 13, 2013 6:32 pm

I got hit, also, whereas never before. This was at a Scotiabank atm. It appears as a 3% "International Transaction Fee" on BofA online. My atm card has been getting a lot of exercise lately, and the fee first appears for a transaction on Nov 10, then a second time on Nov 12.

by CheenaGringo Wed Nov 13, 2013 6:33 pm

Given the fact that there are reports from all over Mexico confirming these new fees, I would be inclined to believe them. Bank of America isn't exactly known for being customer friendly!

by viajero Wed Nov 13, 2013 6:53 pm

BoA for the last 8 years has been a convenient fee free way for me to access funds from NoB,their exchange rate was very good as well,now I need to look at alternatives,a 3 percent fee for every withdrawal is not acceptable.

by Frijoles Wed Nov 13, 2013 7:08 pm

This is why I had started a thread about direct-depositing Canada Pension Plan cheques into a Mexican Bank. We've been hit with the 3% fee all along and only now is it possible to avoid it (I think) by direct-depositing the cheque into a Mexican Bank. (Mexico was just added to the list of countries where this is possible.) A friend has her US Social Security cheque direct-deposited and said she isn't charged the 3% fee.

by CheenaGringo Wed Nov 13, 2013 7:12 pm

Too bad that there isn't an Intercam location in Guadalajara for you to use. Given the number of people with Bank of America accounts along the north shore who have relied on the Scotia and Santander ATM's, I would predict Intercam in Ajijic will become even more popular.

by Jim W Wed Nov 13, 2013 7:16 pm

Consider opening an account @ Intercam, or similar. Home/property owners can write a check for $4000.00 or more and walk out with pesos @ a rate usually same or better than Multiva, no fee, no hassle,

by solajijic Wed Nov 13, 2013 8:33 pm

Intercam is officially now a bank. This means there will be some procedural and policy changes in the offing. As of today we have to bring in a special account card and our immigration ID for every transaction. I don't think I have shown ID since we opened the account the week they opened their doors.

by Jim W Wed Nov 13, 2013 9:13 pm

solajijic wrote:Intercam is officially now a bank. This means there will be some procedural and policy changes in the offing. As of today we have to bring in a special account card and our immigration ID for every transaction. I don't think I have shown ID since we opened the account the week they opened their doors.

WOW solajijic....I leave for a month and the financial world changes, LOL. When I opened my account, had to show a copy of my deed to property, and always had to present my account card and photo ID. WTF....or a face not to be trusted.

by Pedro Wed Nov 13, 2013 9:22 pm

solajijic wrote:Intercam is officially now a bank. This means there will be some procedural and policy changes in the offing. As of today we have to bring in a special account card and our immigration ID for every transaction. I don't think I have shown ID since we opened the account the week they opened their doors.

they gave me my pesos 2 weeks ago on a scotia cheque in canadian dollars and then gave me a card to use in future is all. i note that some personnel have been changed as well.

by slainte39 Thu Nov 14, 2013 12:00 am

Jim W wrote:Consider opening an account @ Intercam, or similar. Home/property owners can write a check for $4000.00 or more and walk out with pesos @ a rate usually same or better than Multiva, no fee, no hassle,

I was told that Multiva is going to start charging 10.00 USD plus IVA to cash foreign checks.

by sparks Thu Nov 14, 2013 7:18 am

Intercam used to charge $8 ... now I hear $10 ... but that's for any sized check. 4-5k anyway

by Zedinmexico Thu Nov 14, 2013 7:24 am

Got the charge this morning. Below is from BOA website and ScociaBank is not listed anymore.
However Santander is still listed for Mexico.

Traveling Internationally?
Use your ATM card or debit card within the Global ATM Alliance.

[url=javascript:void(0);]BNP Paribas [/url](France)
[url=javascript:void(0);]BNL Banca Nazionale Del Lavoro [/url](Italy)
[url=javascript:void(0);]Barclays[/url] United Kingdom (England, Scotland, Wales, Northern Ireland and the Channel Islands)
[url=javascript:void(0);]Deutsche Bank[/url] (Germany)
[url=javascript:void(0);]Scotiabank[/url] (Canada and the Caribbean, Caribbean countries include: Anguilla, Antigua & Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Netherlands Antilles (St. Maarten), St. Kitts-Nevis, St. Lucia, St. Vincent & The Grenadines, Trinidad & Tobago, Turks & Caicos Islands, US Virgin Islands)
[url=javascript:void(0);]Westpac Bank[/url] (Australia and New Zealand)

In addition, Bank of America has arranged for you to use your debit or ATM cards in China at [url=javascript:void(0);]China Construction Bank[/url]
ATMs (China Construction Bank ATMs in Hong Kong are not included) and in Mexico at [url=javascript:void(0);]Banco Santander[/url] with no ATM
Operator Fees or Non-Bank of America International ATM fees. International Transaction Fees of 1% for converting your
currency may apply.

Your foreign currency and travelers cheques are ready when you are.

Bank of America helps you with your foreign currency and travelers cheques needs. Use our secure, convenient, online service to:

Sign in and purchase up to $10,000 of foreign currency a month. For customers not signing in, orders are limited to $500 in foreign currency a year.
Check daily foreign currency banknote exchange rates.
Calculate the value of your currency before you exchange money.

[url=javascript:void(0);]Cancel[/url]

by gvprod Thu Nov 14, 2013 7:36 pm

Bank of America is EVIL!

by MexicoPete Fri Nov 15, 2013 4:39 pm

I just talked to B/A. I now know why a friend with almost $200,000 US in his B/A account has to pay the fee while others with less than $20,000 do not.

Do you remember a while back when Merrill Lynch was bought out by B/A? Did you know you can link the two accounts together? Well if the total amount of say your retirement account in ML plus the cash in your linked B/A account is more than $250,000 US, you do not pay the fee.

So it's all a matter of where your money is.

It's like Actinver (Lloyds) that will pay your utility bills for free if you have at least $100,000 pesos (almost $8,000 US) deposited with them. If it becomes less they will not.

by BRLAhere Fri Nov 15, 2013 6:39 pm

viajero wrote:As of November 8 BoA is charging a 3 percent international transaction fee for atm withdrawals even at Santander and Scotia machines,this is very bad news for a lot of people.

I telephoned BOA's customer service today after seeing two US$14 ATM fees charged to my account for withdrawals I had made from Santander's ATM. The rep not only reimbursed my fees, but waived any future ATM fees for 1-year. Instructed me that I would have to request another waiver one year from today. We'll see if that holds.

by viajero Fri Nov 15, 2013 7:54 pm

Any details you could provide on how you accomplished this would be appreciated,thanks.

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No more fee free BoA atm withdrawals

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