BajaNomad

Bancomer/BBVA in Mulege charging very high ATM fee

elfbrewery - 4-14-2021 at 12:19 PM

Does anyone know why? It's like $8USD to draw out ~350USD. Is it to get money from tourists after such a poor time during Covid?

BornFisher - 4-14-2021 at 12:29 PM

That`s not bad. 3 percent is typical.
I took out 6,000 pesos (297 USD) last week in Rosarito Beach and the fee was $8.92.

Howard - 4-14-2021 at 12:45 PM

If possible always use another ATM other than Bancomer as they seem to have the highest fees. In Loreto they have those higher fees but ATMs from other institutions are much less.

pacificobob - 4-14-2021 at 01:04 PM

it's hard to find higher ATM fees than BBVA

Bajabus - 4-14-2021 at 01:12 PM

Quote: Originally posted by pacificobob  
it's hard to find higher ATM fees than BBVA


Agreed for our area at least, in TS BBVA is 99 pesos, Bancomer is 49 pesos.

ligui - 4-14-2021 at 01:41 PM

When I'm down in loreto i just western union myself money .

:bounce:

PaulW - 4-14-2021 at 01:57 PM

174 peso charge for todays transaction in Bancomer San Felipe. That has been the charge for some time.

elfbrewery - 4-14-2021 at 02:28 PM

I guess it took longer to catch up to us in Mulege. It was it was still 99.01 in February.

HeyMulegeScott - 4-14-2021 at 06:48 PM

Send yourself cash for pickup at BBVA via Xoom. $600 is no fee and lesser amounts are $3.99 https://www.xoom.com/mexico/send-money

JC43 - 4-15-2021 at 09:09 AM

Use telecomm telegrafos. Low fees! Bancomer is a rip-off all over Mexico. They are charging 65.99% interest for CC overdrawing after the first month. If you buy something at the 29th of any month, the month ends at the 30 day. From there it is the second month for your purchase at the 29th !

Bajabus - 4-15-2021 at 09:21 AM

Quote: Originally posted by lencho  
Quote: Originally posted by Bajabus  
Agreed for our area at least, in TS BBVA is 99 pesos, Bancomer is 49 pesos.

You happen to know how their exchange rates compare?

Wait a minute: Bancomer is BBVA, ¿que no? :?:


I don't know how exchange rates compare, sorry. It's two sepárate banks here in TS

JC43 - 4-15-2021 at 09:27 AM

Quote: Originally posted by Bajabus  
Quote: Originally posted by lencho  
Quote: Originally posted by Bajabus  
Agreed for our area at least, in TS BBVA is 99 pesos, Bancomer is 49 pesos.

You happen to know how their exchange rates compare?

Wait a minute: Bancomer is BBVA, ¿que no? :?:


I don't know how exchange rates compare, sorry. It's two sepárate banks here in TS


BBVA is Bancomer !!!

Bajabus - 4-15-2021 at 09:30 AM

Quote: Originally posted by JC43  
Quote: Originally posted by Bajabus  
Quote: Originally posted by lencho  
Quote: Originally posted by Bajabus  
Agreed for our area at least, in TS BBVA is 99 pesos, Bancomer is 49 pesos.

You happen to know how their exchange rates compare?

Wait a minute: Bancomer is BBVA, ¿que no? :?:


I don't know how exchange rates compare, sorry. It's two sepárate banks here in TS


BBVA is Bancomer !!!


just found this:
BBVA México is a Mexican financial institution, and the largest in the country, dominating about 20% of the market. Founded in 1932 as Banco de Comercio (Bancomer), and rebranded from 2000 to 2019 as BBVA Bancomer, its main stockholder is the Spanish bank BBVA.

Bajabus - 4-15-2021 at 01:45 PM

Sure, next time I am in town I will. You can also see it on Google Maps.

pacificobob - 4-15-2021 at 03:51 PM

ive banked there 15yrs. BBVA, bancomer....Same bank.
i don't understand why bajabus is confused

BigBearRider - 4-15-2021 at 04:02 PM

Thinking of Banamex maybe?

Bajabus - 4-15-2021 at 07:38 PM

OH poop you guys are right. I have been going to Banorte thinking it was Bancomer...Mea culpa.
I humbly bow to those that pointed out my misinformation. I am guilty of Fake News.
I am ready for my lashing and will accept it with grace.
Lencho, Pacificobob and Bear please stop by to claim your free 1.2 liter Ballena when in the area.

Bajabus - 4-16-2021 at 06:29 AM

Quote: Originally posted by lencho  

would love to connect sometime. :light:


Same here Sir.

HeyMulegeScott - 4-16-2021 at 09:03 AM

Quote: Originally posted by lencho  
Quote: Originally posted by HeyMulegeScott  
Send yourself cash for pickup at BBVA via Xoom. $600 is no fee and lesser amounts are $3.99 https://www.xoom.com/mexico/send-money

That's pretty interesting; that portal accepts transfer amounts to somewhere close to US$10,000.

Looking at the 19.74 exchange rate, it looks like they're taking a couple of percent..?


I checked today and it was 19.5291 MXN vs current rate of 19.919032 shown here - https://www.x-rates.com/calculator/?from=USD&to=MXN&...

elfbrewery - 4-16-2021 at 03:44 PM

I look at
https://www.eldolar.info/en/mexico/dia/hoy
BUT, don't take the rates as reality. The Bancomer in Mulege offered $18.18 MXN/USD today in the bank, even though the eldolar site says the buy/sell rate at BBVA Bancomer is 19.28 / 20.19 . One never really knows.

HeyMulegeScott - 4-16-2021 at 07:05 PM

Quote: Originally posted by elfbrewery  
I look at
https://www.eldolar.info/en/mexico/dia/hoy
BUT, don't take the rates as reality. The Bancomer in Mulege offered $18.18 MXN/USD today in the bank, even though the eldolar site says the buy/sell rate at BBVA Bancomer is 19.28 / 20.19 . One never really knows.


That is not a good rate. With ATM or Xoom we usually get close to the exchange rate and get a refund on the fees if we use the ATM.

elfbrewery - 4-17-2021 at 12:00 PM

I would assume one needs to have an account in Mexico to use Xoom. That means one must also have residency status. Correct??

Grenadiers - 4-17-2021 at 02:25 PM

We set up an account at the bank in Mulege, since we have our temporary resident visas (free healthcare!), and besides the time it took, and it helps if you have a Mexican cell phone for a code they send to set it up, there is no fee to withdraw. You get a debit card the same day as well. Can transfer $1000 US at a time. And we use TransferWise direct from our bank and transfers almost instantly. We set up a secondary travel account at our bank for security. About 10 bucks a transfer.

elfbrewery - 4-17-2021 at 02:29 PM

Great info. Thanks!

Grenadiers - 4-17-2021 at 02:50 PM

We set up an account at the bank in Mulege, since we have our temporary resident visas (free healthcare!), and besides the time it took, and it helps if you have a Mexican cell phone for a code they send to set it up, there is no fee to withdraw. You get a debit card the same day as well. Can transfer $1000 US at a time. And we use TransferWise direct from our bank and transfers almost instantly. We set up a secondary travel account at our bank for security. About 10 bucks a transfer.

HeyMulegeScott - 4-17-2021 at 05:38 PM

Quote: Originally posted by elfbrewery  
I would assume one needs to have an account in Mexico to use Xoom. That means one must also have residency status. Correct??


No Xoom is a Paypal company. If you have a Paypal account it's really easy to send money to any person in Mexico from your account even if that's just someone down here on vacation.