BajaNomad

La Paz Santander Bank charging for B of A debit card withdrawals

MitchMan - 8-16-2012 at 03:48 PM

Santander bank in La Paz has charged me over 31 pesos to get a balance or to withdraw pesos from my B of A chkg acct at Santander ATMs.

ANYU BODY ELSE HAVE THIS NEW PROBLEM?

cabobaja - 8-16-2012 at 03:54 PM

I have withdrawn $$ from Santander in La Paz and Cabo over the last 3
months and their has been no fees. When I withdraw funds from other
banks there is a $5.00 and a $2.85 ($7.85) fee. I live in Elias Calles. So,
La Paz and Cabo are a drive. Todos Santos is easy..but pay the fee.

Sucks to pay to get your own money.:mad:

cabobaja - 8-16-2012 at 03:57 PM

MitchMan...sorry, I do use a BofA ATM card.

J.P. - 8-16-2012 at 04:06 PM

There's nothing aginst the law about burying it in your back yard.:lol::lol:

Seriously I always withdraw the max. daily amount It helps soften the blow.

maspacifico - 8-16-2012 at 04:15 PM

You haven't been giving the "job creators" enough love! They want everything.

Open a Bancomer dollar account. They give you a debit card to take your money out in pesos from their ATM's with no fee. Deposit a check from your US bank, takes a week or so to clear. I think you have to have a $100 balance. Four years no problems.

oxxo - 8-16-2012 at 04:30 PM

Quote:
Originally posted by MitchMan
Santander bank in La Paz has charged me over 31 pesos to get a balance or to withdraw pesos from my B of A chkg acct at Santander ATMs.

ANYU BODY ELSE HAVE THIS NEW PROBLEM?


Mitch, we use BofA debit card to withdraw pesos from Santander ATM in Los Cabos on a weekly basis. No charge, even last week. BofA told us that they will reimburse us if Santander ever charges us.

Marinero - 8-16-2012 at 05:20 PM

Bank of America has sold its interest in Santander Bank. Therefor, no more "partnership" transactions.

cabobaja - 8-16-2012 at 05:28 PM

Marinero..............Oh Sh*&. I'm doomed! When did this happen??

comitan - 8-16-2012 at 05:54 PM

Marinero

Hope you have a source for this info.

cabobaja - 8-16-2012 at 06:23 PM

I'll be going to Cabo soon to get $$ from Santander. I'll report back. If I'm
charged a fee I'll let you know and will ^%%$#@^!!

AndyP - 8-16-2012 at 06:59 PM

BofA and most other big banks are terrible for international use! All travelers/expats should get a Charles Schwabb checking account. They don't charge any fees, and will refund any fees charged by the ATM owners. When I'm traveling I always get $10-$40 a month in ATM fees refunded to me. Seriously it's worth it.

2004avalon - 8-16-2012 at 07:37 PM

I have been charged 25.32 pesos to use my BofA at Santander in Ensenada but no charge on a business card

durrelllrobert - 8-16-2012 at 08:11 PM

I have a Mexican ATM card for Scotia bank and when I used it at a Scotia bank in Canada last month I had to pay a $5 fee to use it. Scotia is a Canadian outfit so go figure.

dtbushpilot - 8-16-2012 at 08:54 PM

Ok, just to be sure I understand: you have money in a bank in one country and you want to get cash from an atm machine in a different country at a different bank and maybe in a different currency than your original account and they want to charge you a small fee to do it and you are offended.......really?

MitchMan - 8-17-2012 at 09:10 AM

I normally go to the Visa website to see the MXN/USD exchange rate. Consistantly in the past, the actual exchange rate for a same day Santander Bank ATM withdrawal of pesos using my BofA debit card against my BofA checking acct is within 8 to 15 centavos less than the Visa website MXN/USD exchange rate. On Aug 8th the Visa rate was 13.1849.

When at the Santander ATM on Aug 8, I noticed that the ATM page that mentions the possibility of Santander charging a transaction fee, that page now disclosed that Santander is now charging me a $31.32 MXN fee for the transaction. Always, in the past, the fee was listed at $0.00 MXN, and, always in the past, there would be no charge for an atm withdrawal. I went forward and withdrew $4,000 pesos and, sure enough, I was charged $31.32 and the withdrawal receipt showed both the $4,000 and the $31.32 fee charge. Also, the receipt did not show the ending balance of my checking account (in pesos) whereas in the past, the receipt always did show that balance.

I looked up my BofA checking account balance on the internet and their appeared a single debit to my account in the amount of $308.32 USD which correlated to the Santander Bank ATM withdrawal. That $308.32 debit amount reflects and overall exchange rate of $12.973534 using only the $4,000 withdrawal amount. If I use $4,031.32 MXN, I get an exchange rate of $13.07512, which is more inline with past history of the actual exchange rate being within 8 to 15 centavos of the Visa website MXN/USD exchange rate.

What this all means is that my USA BofA checking account was in fact charged that transaction fee of $31.32 MXN.

I talked to Santander Bank personnel at length and they openly acknowledge that BofA and Santander still have that same arrangement wherein there is no transaction fee for ATM withdrawals. Recent discussions with BofA reveal the same and no one knows anything thing about Santerder's actually charging a transaction fee.

I showed the Santander people my receipt that expressly states the $31.32 MXN transaction fee and all I get is the classic blank stare of indifference and the rediculous reiteration of "there is no transaction fee charged" inspite of their looking at the receipt.

BTW, the $31.32 MXN fee on a $4,000 MXN withdrawal equates to 275%annual finance charge! Just a little tidbit for those of you who believe the fee is a pittance.

[Edited on 8-17-2012 by MitchMan]

Marinero - 8-17-2012 at 10:33 AM

not sure it has closed, I will pull out source

Marinero - 8-17-2012 at 10:52 AM

Well, Nomads, I apologize for trusting my memory. I cannot find what I was sure I saw, that BoA was selling its interest in Santander Bank. Found a lot about the bank itself.

If I find anything else, I will post it and the reference. again, sorry

Santander Bank

bigmike - 8-17-2012 at 05:28 PM

I used my Bank of America to withdraw pesos yesterday and the fee shown on the screen was .00 pesos and the rate of exchange I got was 13.1,
so I don't understand why some people are being charged, I also went on Bank of America's site and it shows No Fee to use Santander in Mexico.

Lee - 8-17-2012 at 05:49 PM

Quote:
Originally posted by bigmike
..... so I don't understand why some people are being charged, I also went on Bank of America's site and it shows No Fee to use Santander in Mexico.


Bad juju. It happens. Count your lucky stars.

Is this what you saw?

durrelllrobert - 8-17-2012 at 06:38 PM

Santander says it pays 2.5 bln dollars for Mexican assetJune 9, 2010 | AGENCIES
MADRID: Spain's biggest bank, Santander, said on Wednesday it will pay 2.5 billion dollars in cash for the 24.9-per cent stake in its Mexican branch, Santander Mexico, owned by Bank of America. The deal will lift the bank's stake in the Mexican group to 99.9 per cent and it highlights the growing importance of Santander's international operations as the domestic market Spain faces a lengthy period of sluggish growth. Mexico is one of the bank's key..._________________________________________
OR THIS?
http://dealbook.nytimes.com/2011/10/21/santander-to-sell-sta...

Marinero - 8-18-2012 at 05:59 AM

I did see that when I was looking for what I thought I saw, but that's not it. I recall that B of A had bought a fractional share of the bank and the bank was repurchasing it. Still, I can't seem to find that on the web.

Isn't that what this says?

durrelllrobert - 8-18-2012 at 07:31 AM

Quote:
Originally posted by Marinero
I did see that when I was looking for what I thought I saw, but that's not it. I recall that B of A had bought a fractional share of the bank and the bank was repurchasing it. Still, I can't seem to find that on the web.

_______________________________________________
Spain's biggest bank, Santander, said on Wednesday it will pay 2.5 billion dollars in cash for the 24.9-per cent stake in its Mexican branch, Santander Mexico, owned by Bank of America.

Still No Fees

bigmike - 8-18-2012 at 10:02 AM

I just used my Bank Of America personal debit card at
Santander this morning, got a $13.13 exchange rate with no fee charged by either Bank.

toneart - 8-18-2012 at 12:15 PM

BigMike-

Did Santander put in a new ATM caja in Mulege? They used to have one in the police station but they took it out over a year ago.

woody with a view - 8-18-2012 at 12:27 PM

search this string in google:

Spain's biggest bank, Santander, said on Wednesday it will pay 2.5 billion dollars in cash for the 24.9-per cent stake in its Mexican branch, Santander Mexico, owned by Bank of America.

this thread is the #4 hit.

prorader - 8-21-2012 at 09:14 AM

Santander, Ensenada, no fees from BOA, yesterday

DENNIS - 8-21-2012 at 09:29 AM

Quote:
Originally posted by toneart
BigMike-

Did Santander put in a new ATM caja in Mulege? They used to have one in the police station but they took it out over a year ago.


:lol::lol: The wolves guarding the lambs. :lol:

durrelllrobert - 8-21-2012 at 09:49 AM

Quote:
Originally posted by toneart
BigMike-

Did Santander put in a new ATM caja in Mulege? They used to have one in the police station but they took it out over a year ago.
Wrong BigMike. This one lives in Punta Banda not Mulege

prorader - 8-21-2012 at 01:59 PM

Way up here in Punta Banda, santander, and scotibank no fees at al for BOA customers, HSBC my last was $7.27 in fees, some times in a rural area it is cost of gas and time against which ATM you use

prorader - 8-21-2012 at 04:14 PM

Some times when you punt, you should have taken a timeout

cabobaja - 8-24-2012 at 05:43 PM

Used my BofA ATM card at Santander today in La Paz. No Fees from
either bank. Need to go to Cabo next week and will withdraw $$ from
Santander and will report back.