RED ALERT warning for using any ATM to get pesos for USD/CDN.

MexicoPete wrote:Remember that some of us who use B/A do not have to pay that 3% exchange rate. I don't.

What's the trick? You either have to have $250,000 in your B/A account, which I certainly do not have (I have about $25,000 in my bank account) or a linked account with a brokerage firm B/A owns, Merrill Lynch which can be part of that $250,000.

Now the majority of all working couples, have retirement accounts with balances approaching $300,000 or more when they retire at age 65 according to Mr. Google. So if you combine these amounts you have more than $250,000 US and you are not charged the 3% exchange fee.  Thank God my retirement IRA account was/is with Merrill Lynch

Oh, I use the Scotia Bank ATM lakeside and am only charged a small fee for using their machine, perhaps $20 pesos or so whether I withdraw $1,000 or $5,000 pesos

Gamina wrote:Nothing about BofA makes any sense.  I can no longer use my ATM card at the Scotia ATM--it refuses to recognize my card.  But when calling BofA they say everything is OK with my card.  When using Santander ATM I get no charges at all.  But using the Santander ATM in the Palacio, the charges are outrageous.  Having a large balance in a Merrill account has nothing to do with fees paid for using your card.  Calling BofA is of no use at all since you will get a different answer with every person you talk to.  I even tried to us my ATM card in Laredo at a BofA bank ATM machine and my card was not recognized.  So I went across the street to some other bank (don't remember which bank) and took money out of my BofA acct. and paid a small fee.  You are trying to get an answer, Clueless, when no answer exists.  My advise is to quit beating a dead horse.

David wrote:Even 3% is too much.  Many banks charge only 1%, some are 0%.  I quit using my AMEX card because if its 2% fee.  My two banks have 0% foreign transaction fee.