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weebray
Super Nomad
Posts: 1094
Registered: 7-19-2010
Location: La Paz
Member Is Offline
Mood: lleno
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First of all if you don't like filling out a 16 page application that is required for ANYTHING these days then work on repealing the "Patriot" act
instead of whining about chit that CS or any institution is required to ask you for. Second, it's a fact of life that if you live in Mexico it is
just about totally necessary to have a US address unless you're living under a flat rock somewhere. Third, as I have been saying, Charles Schwab
charges no, zip, zero fees for ATM transactions anywhere in the world. You don't even have to ask them - it's automatic. Bottom line, as the
messenger, I don't care what you do with the information, it's your money and if you want to give it to the mighty Bank of "AMERICA"??? Well that's
just swell!
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oxxo
Banned
Posts: 2347
Registered: 5-17-2006
Location: Wherever I am, I'm there
Member Is Offline
Mood: If I was feeling any better, I'd be twins!
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| Quote: | | Originally posted by weebrayThird, as I have been saying, Charles Schwab charges no, zip, zero fees for ATM transactions anywhere in the
world. |
According to the information given to me by CS customer service, that statement is mostly true. However CS said that there are some ATMs in remote
locations where a CS card is not accepted. They said maybe 5% of ATMs in remote locations will not accept the CS card. They did say that if the ATM
spits out local currency to you, the card has been accepted and all fees will be reversed at the end of the month.
I don't mind filling out a 16 page application for a joint account if it will make my life easier.
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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Once again, this whole thread belongs in the "so what" category...If I make 3 peso withdrawals per month= 20,000 pesos it costs me about 25 bucks..so
what? About the price of a couple dinners....geez..nuttin to put knots in your undies...
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LaPazGringo
Nomad
Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by chuckie
Once again, this whole thread belongs in the "so what" category...If I make 3 peso withdrawals per month= 20,000 pesos it costs me about 25 bucks..so
what? About the price of a couple dinners....geez..nuttin to put knots in your undies... |
At what point do you prefer to not give your money to a bank? At 4%? 7%? 14%?
3% is "so what" to you, so what would bother you?
{just wow} 
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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What do you propose as the alternative?Drive to the US and get cash? I dint move to Baja to fret over nickles and dimes....I dont have a great dealof
money, but I also cant see getting ulcers over small beer....If it bothers you that much..get more money or move back to the US.....What does an ATM
withdrawal cost in Kalifornia? Will the difference buy you even a peck of spuds??? Not much bothers me anymore, especially things I cant control...
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LaPazGringo
Nomad
Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by chuckie
What do you propose as the alternative?Drive to the US and get cash? I dint move to Baja to fret over nickles and dimes....I dont have a great dealof
money, but I also cant see getting ulcers over small beer....If it bothers you that much..get more money or move back to the US.....What does an ATM
withdrawal cost in Kalifornia? Will the difference buy you even a peck of spuds??? Not much bothers me anymore, especially things I cant control...
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Do I have your permission to be concerned about paying $18 every single day for pulling out what it costs my large family to live on? You're cool with
bank fees. Fine. But if it's alright with you, I'm not.
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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Uh, Chuckie, you're forgetting the 5.00 US charge, per transaction, for using a non-affiliated bank. And I know there isnt one in the Mulege area. No
Santander. No Scotia Bank.
And your math is, well, something beyond even "new math". 3% of 20,000 pesos is 600 pesos. Add your 3 transaction charges per month @ 5.00 US you
allude to and the withdrawal of that 20,000 pesos means a total charge of 62.00 US on that 20,000 pesos. This assumes a 12.5/1 exchange rate.
I guess you could rationalize this as being "only" 4-6 dinners per month, though............
Admit it; you have no alternative in the Mulege area, and that's why you accept it.
[Edited on 11-22-2013 by Hook]
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oladulce
Super Nomad
Posts: 1625
Registered: 5-30-2005
Location: bcs
Member Is Offline
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First Republic Bank says their No-ATM-fee account application cannot be submitted online- same situation as applying for Schwab when you're in Baja.
Both have online features once the account is set up and both have "mobile banking" so you can take photos of any checks to deposit. First Republic
account is $500 to open, and $3500 balance for no monthly account fees. Even fewer branches of First Republic in OC/RIV/SD than there are of Schwabs
(not a biggie).
Are there any disadvantages or requirements of having the "open" investment account at Schwab that goes with their no-ATM-fee checking?
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
Member Is Offline
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In my view, the cost of the new fees that B of A is now charging is not chump change.
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
Member Is Offline
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Looking for alternatives to BofA; so far my research has disclosed:
1. Banamex USA at San Ysidro and Otay are closed to new accounts being opened for at least the next two months.
2. First Republic bank requires sustaining a minimum average daily balance of $3,500 USD. Inconvenient as not many branches exist.
3. Charles Schwab: Inconvenient as not many branches exist. Best option so far.
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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ATM fees V. exchange rate
I just withdrew 6,000 pesos from an HSBC machine in Ensenada with the following fees:
HSBC commission 18.90
Mexican IVA 2.08
Total withdrawn 6,02.98 pesos
Wells Fargo's charge $465.88 = 12.87 peso / $US
Non-WF fee 5.00
Total US cost $470.88 = 11.63 peso / $US
Current rate at San Ysidro + 13.08 / $US
and 13.08 - 11.63 = 1.45 pesos = 0.11 dollars
WELL WORTH THE CONVIENCE
[Edited on 11-22-2013 by durrelllrobert]
Bob Durrell
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BornFisher
Super Nomad
Posts: 2115
Registered: 1-11-2005
Location: K-38 Santa Martha/Encinitas
Member Is Online
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| Quote: | Originally posted by durrelllrobert
I just withdrew 6,000 pesos from an HSBC machine in Ensenada with the following fees:
HSBC commission 18.90
Mexican IVA 2.08
Total withdrawn 6,02.98 pesos
Wells Fargo's charge $465.88 = 12.87 peso / $US
Non-WF fee 5.00
Total US cost $470.88 = 11.63 peso / $US
Current rate at San Ysidro + 13.08 / $US
and 13.08 - 11.63 = 1.45 pesos = 0.11 dollars
WELL WORTH THE CONVIENCE
[Edited on 11-22-2013 by durrelllrobert] |
Must be the new math?????? The way I interpret your transaction, WF charged you $5 and HSBC another 21pesos.
So your cost was $6.63.
When I read your post I thought you meant, 11 cents (.11 dollars)
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durrelllrobert
Elite Nomad
Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline
Mood: thriving in Baja
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| Quote: | Originally posted by BornFisher
| Quote: | Originally posted by durrelllrobert
I just withdrew 6,000 pesos from an HSBC machine in Ensenada with the following fees:
HSBC commission 18.90
Mexican IVA 2.08
Total withdrawn 6,02.98 pesos
Wells Fargo's charge $465.88 = 12.87 peso / $US
Non-WF fee 5.00
Total US cost $470.88 = 11.63 peso / $US
Current rate at San Ysidro + 13.08 / $US
and 13.08 - 11.63 = 1.45 pesos = 0.11 dollars
WELL WORTH THE CONVIENCE
[Edited on 11-22-2013 by durrelllrobert] |
Must be the new math?????? The way I interpret your transaction, WF charged you $5 and HSBC another 21pesos.
So your cost was $6.63.
When I read your post I thought you meant, 11 cents (.11 dollars) |
yep, I shudda said 11 cents per dollar more to get 6000 pesos outa the ATM in Ensenada than at the Cambio in San Ysidro
[(13.08 p/$) -(11.63 p/$)] / (13.08 p/$) = .11 /$ ???
Bob Durrell
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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Anyone who gets money from an ATM every day is addled....Get enough for a month...transaction fee is the same..about 6.90 here and a few bucks from
the stateside folks....18.00/day? Thats nuts....even to "feed my large family"...
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LaPazGringo
Nomad
Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by chuckie
Anyone who gets money from an ATM every day is addled....Get enough for a month...transaction fee is the same..about 6.90 here and a few bucks from
the stateside folks....18.00/day? Thats nuts....even to "feed my large family"... |
You're so totally confused you're starting to confuse me.
It's simple. Let me break it down for you.
We have a BofA account and for the last two years we've been able to pull up to $600 per day per ATM card out of our account at the current exchange
rate with no fees.
That changed.
Now BofA is charging 3% of the total transaction.
$600 x .03 = $18
I don't like paying $18 when it used to not cost anything.
Is that a little more clear now?
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bacquito
Super Nomad
Posts: 1615
Registered: 3-6-2007
Member Is Offline
Mood: jubilado
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| Quote: | Originally posted by Hook
So far, I have found nothing on the B of A website, announcing the new fee. Even in the section of international transaction fees, there is nothing.
I dont doubt that they have begun this, though. Too many people reporting this. |
BofA sent me a notice via snail mail sometime ago.
bacquito
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willardguy
Elite Nomad
Posts: 6451
Registered: 9-19-2009
Member Is Offline
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| Quote: | Originally posted by LaPazGringo
| Quote: | Originally posted by chuckie
Anyone who gets money from an ATM every day is addled....Get enough for a month...transaction fee is the same..about 6.90 here and a few bucks from
the stateside folks....18.00/day? Thats nuts....even to "feed my large family"... |
You're so totally confused you're starting to confuse me.
It's simple. Let me break it down for you.
We have a BofA account and for the last two years we've been able to pull up to $600 per day per ATM card out of our account at the current exchange
rate with no fees.
That changed.
Now BofA is charging 3% of the total transaction.
$600 x .03 = $18
I don't like paying $18 when it used to not cost anything.
Is that a little more clear now? |
same boat here, I emailed BofA to complain, they said for security
reasons they couldnt discuss it online time to change banks, whats your plan?
schwab?
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El Jefe
Super Nomad
Posts: 1027
Registered: 10-27-2003
Location: South East Cape
Member Is Offline
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| Quote: | Originally posted by MitchMan
Looking for alternatives to BofA; so far my research has disclosed:
1. Banamex USA at San Ysidro and Otay are closed to new accounts being opened for at least the next two months.
2. First Republic bank requires sustaining a minimum average daily balance of $3,500 USD. Inconvenient as not many branches exist.
3. Charles Schwab: Inconvenient as not many branches exist. Best option so far. |
Why not try Citibank. They own Banamex. No fees if you use Banamex ATMs. We've been living on cash out of our Citibank checking account with the Citi
ATM card for over 8 years now and it works fine.
No b-tchin\' in the Baja.
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LaPazGringo
Nomad
Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by willardguy
| Quote: | Originally posted by LaPazGringo
| Quote: | Originally posted by chuckie
Anyone who gets money from an ATM every day is addled....Get enough for a month...transaction fee is the same..about 6.90 here and a few bucks from
the stateside folks....18.00/day? Thats nuts....even to "feed my large family"... |
You're so totally confused you're starting to confuse me.
It's simple. Let me break it down for you.
We have a BofA account and for the last two years we've been able to pull up to $600 per day per ATM card out of our account at the current exchange
rate with no fees.
That changed.
Now BofA is charging 3% of the total transaction.
$600 x .03 = $18
I don't like paying $18 when it used to not cost anything.
Is that a little more clear now? |
same boat here, I emailed BofA to complain, they said for security
reasons they couldnt discuss it online time to change banks, whats your plan?
schwab? |
Yeah, looks like Schwab. I am applying now as I have friends coming who can bring the ATM card early next month.
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LaPazGringo
Nomad
Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline
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| Quote: | Originally posted by El Jefe
Why not try Citibank. They own Banamex. No fees if you use Banamex ATMs. We've been living on cash out of our Citibank checking account with the Citi
ATM card for over 8 years now and it works fine. |
First I knew of this! 
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