neilm81301
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Can I use my Wells Fargo ATM card in Mexican bank?...
... without incurring fees? (in order to obtain best exchange rates) I understand BofA works with Santander.
Or use a card from BBVA - Compass?
I called WF to find out; I don't think he knew what I was talking about.
Neil
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RnR
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| Quote: | Originally posted by neilm81301
... without incurring fees? (in order to obtain best exchange rates) I understand BofA works with Santander.
Or use a card from BBVA - Compass?
I called WF to find out; I don't think he knew what I was talking about.
Neil |
I use my Wells Fargo ATM card when I have to.
There are two fees.
I typically go to Bancomer. Bancomer charges about 65 pesos for the transaction.
Wells Fargo charges a "non-system bank" fee. Can't remember how much.
Total fees are 8-9 USD.
The WF/Bancomer exchange rate is pretty good. WF/Banorte exchange rate is a little better. The WF/HSBC exchange rate is a little worse.
I withdrew cash from all three banks within a total of 5 minutes. Each bank had a little different exchange rate. The spread was 0.08 pesos, as in,
12.41 to 12.49 on that day.
[Edited on 2-2-2014 by RnR]
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bajaguy
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Location: Carson City, NV/Ensenada - Baja Country Club
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Mood: must be 5 O'clock somewhere in Baja
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Bancomer has the highest fees. I use HSBC or Banamex
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msteve1014
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Wells Fargo charges $5, so take out the maximum the atm will let you. Bancomer is the last bank you want to use, if you have a choice.
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Bajajorge
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Be sure to notify Wells Fargo that you will be using your card in Mexico. They'll lock you out on Mexican transactions if they don't know you're SOB.
Why do Liberals insist and demand that achievers pay the way for nonachievers who are to lazy to succeed, or are just failures by their own choice?
Criminals prefer unarmed victims, dictators prefer unarmed subjects.
Why do ignorant people continue their blabbering when it only proves to others how stupid they are.
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Whale-ista
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Location: San Diego
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Mood: Sunny with chance of whales
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If you have a credit union account, I suggest using that for debit card purchases and for ATMs in MX. If they accept it, it could save a lot in the
long run.
Ask around: My San Diego based credit union charges less than 1% per foreign transaction vs 2% on many credit cards. Also savings on the Bancomer
fee: it was $1.50 per transaction vs the $5 others have reported for WF and other banks.
The exchange rate was very good- I rcvd over 13 in GN 2 weeks ago (the Pemex cheats charged me 11 on a tank of gas when I paid w/dollars).
And on some debit card purchases it was 13.2, e.g., $300 MX =$22.65 US. Even with a 1% charge (23 cents) it was better than 13.
I'd rather use a local credit union than a bank. Unless you need a safe deposit box or other banking services, they generally charge their customers
much less overall.
Finally, as BajaJorge notes: let them know you will be traveling. Shortly after withdrawing pesos in GN I received a call asking for verification that
I had approved the withdrawal. It also confirmed the Pemex charges had been declined. (Still not sure why- guess they wanted that 11:1 rate vs. 13:1!)
[Edited on 2-2-2014 by Whale-ista]
\"Probably the airplanes will bring week-enders from Los Angeles before long, and the beautiful poor bedraggled old town will bloom with a
Floridian ugliness.\" (John Steinbeck, 1940, discussing the future of La Paz, BCS, Mexico)
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CortezBlue
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I try to go to Wells before we head south and buy my pesos here, but usually have to go to am ATM and get mas
“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”
- Albert Einstein
Follow Cortez Blue
www.cortezblue.com
We put the FUNK in disFUNKtion |
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woody with a view
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| Quote: | Originally posted by Whale-ista
I'd rather use a local credit union than a bank. Unless you need a safe deposit box or other banking services, they generally charge their customers
much less overall.
[Edited on 2-2-2014 by Whale-ista] |
Mission Federal CU is my choice after 15 years with WF. working in Yuma for the past year has meant getting declined on charges at the counter every 3
months. for some reason they can't get it thru their heads that people travel or work out of their home area. small price to pay.
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Whale-ista
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Mood: Sunny with chance of whales
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Woody- I also use MFCU, have been a member for 30+ years.
Started as a teacher when federal regs required an association with some specific group (FYI, this is no longer the case, open to all)
\"Probably the airplanes will bring week-enders from Los Angeles before long, and the beautiful poor bedraggled old town will bloom with a
Floridian ugliness.\" (John Steinbeck, 1940, discussing the future of La Paz, BCS, Mexico)
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bigzaggin
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Mood: way too ites
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| Quote: | Originally posted by Bajajorge
Be sure to notify Wells Fargo that you will be using your card in Mexico. They'll lock you out on Mexican transactions if they don't know you're SOB.
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Second this. A few days ago we stopped for breakfast at Viejo San Quintin (a must BTW) and paid with my Wells card. We stopped for gas at San Pedro
Martir - like, an hour later - and Wells had already frozen me out. Stupidly we had no cash so I had to bolt back to Camalu and pray I could still
get cash at the OXXO ATM...which luckily was somehow outside of Wells' blockage ability.
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woody with a view
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Location: Looking at the Coronado Islands
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i NEVER called WF back then and never had a problem.
if all of the banks would go to the embedded chip instead of the easily defeated magnetic strip we'd all be much safer!
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msteve1014
Senior Nomad
Posts: 947
Registered: 12-2-2006
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I buy our fishing licenses online and when I have forgot to call about using the card in Mexico I get the first one done and seconds later the card is
refused for the second one. They are really fast to shut it down.
| Quote: | Originally posted by bigzaggin
| Quote: | Originally posted by Bajajorge
Be sure to notify Wells Fargo that you will be using your card in Mexico. They'll lock you out on Mexican transactions if they don't know you're SOB.
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Second this. A few days ago we stopped for breakfast at Viejo San Quintin (a must BTW) and paid with my Wells card. We stopped for gas at San Pedro
Martir - like, an hour later - and Wells had already frozen me out. Stupidly we had no cash so I had to bolt back to Camalu and pray I could still
get cash at the OXXO ATM...which luckily was somehow outside of Wells' blockage ability. |
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Cliffy
Senior Nomad
Posts: 988
Registered: 12-19-2013
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I get frozen out in the USA I flew for a living and they couldn't get it through their heads that I'd have breakfast in Las Vegas and dinner in NYC!
Cancelled 2 CCs because they kept freezing them even after I called before trips. My current one is on notice right now (actually written on my
account screen at the company) if it happens again they're done and I run A LOT through their card.
They say it's for "OUR" protection BUT it's only for their protection as we have a $50 limit on fraudulent use liability.
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Bajajorge
Ultra Nomad
Posts: 2604
Registered: 10-13-2005
Location: Topaz Lake, NV/San Felipe
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| Quote: | Originally posted by Whale-ista
If you have a credit union account, I suggest using that for debit card purchases and for ATMs in MX. If they accept it, it could save a lot in the
long run.
Ask around: My San Diego based credit union charges less than 1% per foreign transaction vs 2% on many credit cards. Also savings on the Bancomer
fee: it was $1.50 per transaction vs the $5 others have reported for WF and other banks.
The exchange rate was very good- I rcvd over 13 in GN 2 weeks ago (the Pemex cheats charged me 11 on a tank of gas when I paid w/dollars).
And on some debit card purchases it was 13.2, e.g., $300 MX =$22.65 US. Even with a 1% charge (23 cents) it was better than 13.
I'd rather use a local credit union than a bank. Unless you need a safe deposit box or other banking services, they generally charge their customers
much less overall.
Finally, as BajaJorge notes: let them know you will be traveling. Shortly after withdrawing pesos in GN I received a call asking for verification that
I had approved the withdrawal. It also confirmed the Pemex charges had been declined. (Still not sure why- guess they wanted that 11:1 rate vs. 13:1!)
[Edited on 2-2-2014 by Whale-ista] |
Credit Union ATM cards do charge less than large banks. I use my CU card and it is $3.00 cheaper than when I use my big bank card. Bancomer does have
the high fees on their side of the charge for buying Pesos.
Why do Liberals insist and demand that achievers pay the way for nonachievers who are to lazy to succeed, or are just failures by their own choice?
Criminals prefer unarmed victims, dictators prefer unarmed subjects.
Why do ignorant people continue their blabbering when it only proves to others how stupid they are.
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Bajatripper
Ultra Nomad
Posts: 3151
Registered: 3-20-2010
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| Quote: | Originally posted by neilm81301
... without incurring fees? (in order to obtain best exchange rates) I understand BofA works with Santander.
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Does anyone know if the BofA-Santander arrangement is still in effect? Are there other US-based banks that have affiliations with banks in Mexico?
Does anyone have experience dealing with any of them?
I will likely need such an arrangement in the near future and would appreciate hearing from anyone who has knowledge to offer concerning this matter.
There most certainly is but one side to every story: the TRUTH. Variations of it are nothing but lies.
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willardguy
Elite Nomad
Posts: 6451
Registered: 9-19-2009
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| Quote: | Originally posted by Bajatripper
| Quote: | Originally posted by neilm81301
... without incurring fees? (in order to obtain best exchange rates) I understand BofA works with Santander.
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Does anyone know if the BofA-Santander arrangement is still in effect? Are there other US-based banks that have affiliations with banks in Mexico?
Does anyone have experience dealing with any of them?
I will likely need such an arrangement in the near future and would appreciate hearing from anyone who has knowledge to offer concerning this matter.
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I got pesos today from santander, no BofA atm fee but that monster international fee sure hurts! again,
charles schwab!
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DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
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Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
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WELLS FARGO YESTERDAY
FIVE DOLLAR NON WELLS FARGO TRANSACTION FEE
FIFTY THREE PESOS BANAMEX ATM FEE
A Lot To See And A Lot To Do
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