BajaNomad
Not logged in [Login - Register]

Go To Bottom
Printable Version  
 Pages:  1  2    4    6
Author: Subject: Revised B of A fees charged
weebray
Super Nomad
****




Posts: 1094
Registered: 7-19-2010
Location: La Paz
Member Is Offline

Mood: lleno

[*] posted on 11-21-2013 at 01:03 PM


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!
View user's profile
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!

[*] posted on 11-21-2013 at 03:46 PM


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.
View user's profile
chuckie
Elite Nomad
******




Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline

Mood: Weary

[*] posted on 11-21-2013 at 04:25 PM


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...



View user's profile
LaPazGringo
Nomad
**




Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline


[*] posted on 11-21-2013 at 05:38 PM


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} :rolleyes:
View user's profile
chuckie
Elite Nomad
******




Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline

Mood: Weary

[*] posted on 11-21-2013 at 06:23 PM


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...



View user's profile
LaPazGringo
Nomad
**




Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline


[*] posted on 11-21-2013 at 06:46 PM


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...


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.
View user's profile
Hook
Elite Nomad
******




Posts: 9011
Registered: 3-13-2004
Location: Sonora
Member Is Offline

Mood: Inquisitive

[*] posted on 11-21-2013 at 11:06 PM


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]




View user's profile
oladulce
Super Nomad
****




Posts: 1625
Registered: 5-30-2005
Location: bcs
Member Is Offline


[*] posted on 11-22-2013 at 08:22 AM


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?
View user's profile
MitchMan
Super Nomad
****




Posts: 1856
Registered: 3-9-2009
Member Is Offline


[*] posted on 11-22-2013 at 09:05 AM


In my view, the cost of the new fees that B of A is now charging is not chump change.
View user's profile Visit user's homepage
MitchMan
Super Nomad
****




Posts: 1856
Registered: 3-9-2009
Member Is Offline


[*] posted on 11-22-2013 at 09:37 AM


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.
View user's profile Visit user's homepage
durrelllrobert
Elite Nomad
******




Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline

Mood: thriving in Baja

[*] posted on 11-22-2013 at 10:20 AM
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
View user's profile
BornFisher
Super Nomad
****




Posts: 2115
Registered: 1-11-2005
Location: K-38 Santa Martha/Encinitas
Member Is Offline


[*] posted on 11-22-2013 at 10:42 AM


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)
View user's profile
durrelllrobert
Elite Nomad
******




Posts: 7393
Registered: 11-22-2007
Location: Punta Banda BC
Member Is Offline

Mood: thriving in Baja

[*] posted on 11-22-2013 at 11:38 AM


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
View user's profile
chuckie
Elite Nomad
******




Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline

Mood: Weary

[*] posted on 11-22-2013 at 03:49 PM


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"...



View user's profile
LaPazGringo
Nomad
**




Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline


rolleyes.gif posted on 12-15-2013 at 07:03 PM


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?
View user's profile
bacquito
Super Nomad
****




Posts: 1615
Registered: 3-6-2007
Member Is Offline

Mood: jubilado

[*] posted on 12-15-2013 at 07:06 PM


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
View user's profile
willardguy
Elite Nomad
******




Posts: 6451
Registered: 9-19-2009
Member Is Offline


[*] posted on 12-15-2013 at 07:16 PM


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?
View user's profile
El Jefe
Super Nomad
****


Avatar


Posts: 1027
Registered: 10-27-2003
Location: South East Cape
Member Is Offline


[*] posted on 12-15-2013 at 07:29 PM


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.
View user's profile
LaPazGringo
Nomad
**




Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline


[*] posted on 12-15-2013 at 07:34 PM


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.
View user's profile
LaPazGringo
Nomad
**




Posts: 237
Registered: 2-28-2012
Location: La Paz
Member Is Offline


[*] posted on 12-15-2013 at 07:36 PM


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! :light:
View user's profile
 Pages:  1  2    4    6

  Go To Top

 






All Content Copyright 1997- Q87 International; All Rights Reserved.
Powered by XMB; XMB Forum Software © 2001-2014 The XMB Group






"If it were lush and rich, one could understand the pull, but it is fierce and hostile and sullen. The stone mountains pile up to the sky and there is little fresh water. But we know we must go back if we live, and we don't know why." - Steinbeck, Log from the Sea of Cortez

 

"People don't care how much you know, until they know how much you care." - Theodore Roosevelt

 

"You can easily judge the character of others by how they treat those who they think can do nothing for them or to them." - Malcolm Forbes

 

"Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else's hands, but not you." - Jim Rohn

 

"The best way to get the right answer on the internet is not to ask a question; it's to post the wrong answer." - Cunningham's Law







Thank you to Baja Bound Mexico Insurance Services for your long-term support of the BajaNomad.com Forums site.







Emergency Baja Contacts Include:

Desert Hawks; El Rosario-based ambulance transport; Emergency #: (616) 103-0262