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Marla Daily
Nomad
Posts: 418
Registered: 9-2-2003
Location: Loreto, BCS
Member Is Offline
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United Airlines Explorer Card
Another credit card which does not charge foreign transaction fees is the United Airlines Explorer Visa Card. One gets 50,000 miles for signing up (=
free UA ticket/US). The annual fee to have the card is $100. We find it well worth it. We charge everything we can on the visa; use the bank's $$ free
for the month; then pay the bill in full each statement. We've never paid a penny interest. And we rack up the free miles and do a lot of flying for
free. All for $100/year. More and more businesses are taking Visa these days. We can even pay at Leys in Loreto with Visa now.
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
Member Is Offline
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I would keep calling B of A to get corroboration. There's a lot of "banking double talk" going on...as usual.
Just looked at two different printouts today from B of A. One printout said "Starting November 8, 2013 certain fees will apply but that if you use an
"International Partner" ATM (in this case, Santander ATM) you can avoid the $5 USD Non-Bank of America ATM fee. There appears to be an International
Transaction fee of 3% computed on the converted US dollar amount of a transaction. Sounds like two different kinds of fees in this print out:
International Transaction fee of 3% and a Non-Bank of America ATM fee of $5 USD.
The second printout refers to 3 different fees: "ATM operator fees" and to a "Non-Bank of America 'International' ATM
fee" of $5 USD and an "International Transaction Fee". This printout says that you can use your ATM card at Santander Bank
and incur NO ATM operator fees and NO Non-Bank of America 'International' ATM fee BUT that an "International Transaction Fee" of 1% for converting
your currency may apply.
My take on this is, if you have a USA B of A debit/ATM card, and you use it to withdraw pesos from your USD BofA checking account at a Santander Bank
in Baja, you may expect at least a 1% fee on the equivalent USD amount of the withdrawal. That's $10 USD on a withdrawal of $1,000
USD worth of pesos. And, that happens to be $10 USD more than I used to pay. To me, that's either two six packs of Pacifico (bottles) or two Mexican
chickens (4 meals).
Time to look elsewhere.
[Edited on 9-21-2013 by MitchMan]
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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 weebray
Bank of America just sent us some unwelcome news. They will be instituting a number of new fees starting on Nov. 2, 2013. The one that may be of
most interest is a 3% " International Transaction Fee". This will apply to any purchases as well as any ATM cash withdrawls. An additional fee of $5
will be charged for not using an "International Partner ATM". For what it is worth we have called B of A and registered our protest. We urge you to
do likewise. We will be ending our relationship with B of A after 25+ yrs. We have already opened an account with Charles Schwab bank. They do not
charge any "foreign transaction" fees and reemburse any ATM fees. Saludos! |
According to this info the $5 ATM fee ONLY APPLIES to BALANCE INQUIRYS and NOT CASH WITHDRAWLS at non-partner ATMs but the 3% fee does apply:
" the fee charge for accessing a non-Bank of America ATM net is $5.00 fee for each; balance inquiry and 3% for withdrawals and
purchases"
Bob Durrell
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tjsue
Senior Nomad
Posts: 519
Registered: 4-12-2013
Location: San Diego
Member Is Offline
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| Quote: | Originally posted by bajaguy
For those of you veterans and veteran family members, check out USAA.
USAA ATM fees are a 1% fee charged by Master Card on International ATM's (however no fees charged by USAA). USAA also reimburses "non-partnered" ATM
fees. |
I just closed my savings account with USAA. I called customer service and asked them if ATM fees were refunded from ATM's in other countries. They
said fees are only refunded if the "foreign" bank is in the US, not another country. I told them to close the account and send me a check.
[Edited on 9-22-2013 by tjsue]
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
Member Is Offline
Mood: It's a Zip-a-Dee-Doo-Dah Day
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The Free Market at Work.
As noted, alternatives exist and market forces will determine the wisdom of their business decisions.
Viva Capitalism.
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beachbum1A
Nomad
Posts: 442
Registered: 6-17-2006
Location: Punta Banda, BC
Member Is Offline
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| Quote: | Originally posted by weebray
Bank of America just sent us some unwelcome news. They will be instituting a number of new fees starting on Nov. 2, 2013. The one that may be of
most interest is a 3% " International Transaction Fee". This will apply to any purchases as well as any ATM cash withdrawls. An additional fee of $5
will be charged for not using an "International Partner ATM". For what it is worth we have called B of A and registered our protest. We urge you to
do likewise. We will be ending our relationship with B of A after 25+ yrs. We have already opened an account with Charles Schwab bank. They do not
charge any "foreign transaction" fees and reimburse any ATM fees. Saludos! |
Here it is, November 12th, 10 days after B of A was supposed to make some big changes with their ATM fees here in Baja - NEVER HAPPENED! I just
returned from using an ATM for a Santander Bank; I was charged no ATM fees and no foreign transaction fee PLUS I received a conversion rate of 13.15%
to one. Go figure huh! After all the calls & letters, it remained the same. Do you think our complaining might have made them change their policy
plans? hahahahahahahaha yea right!
Just do it!
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bigmike
Nomad
Posts: 175
Registered: 9-8-2007
Location: Punta Banda
Member Is Offline
Mood: Loving Life
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I used Santander yesterday, using my Bank of America Debit card and was charged nothing by either Bank and got 13.15 to the dollar also.
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huesos
Nomad
Posts: 149
Registered: 6-24-2013
Member Is Offline
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complain complain
If more people wrote irate letters, not emails, to the fatheads at the corporate main offices, a lot of these policy flubs would likely be reversed. B
of A was sued in a class action after they charged foreign transaction fees to customers in Asia around 2004. I received notification. They settled
that but some pernicious individuals decided to have another try at it. Not the old friendly California of the 1970's.
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Hook
Elite Nomad
Posts: 9009
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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If I'm not mistaken, the 3% intl transaction fee is charged by VISA and MC, not B of A. They had simply agreed to absorb the cost for their best
customers. Now, they may have decided not to.
Heck, even credit unions often have to pass on the 3% fee from VISA and MC.
Didn't Walmart try and issue their own credit cards, independent of VISA/MC because of their 2-4% rake, and the Feds told them they couldn't? I was
hoping for them to be allowed. The damn credit card companies need competition!!! IMO, they collude on fees. How COINCIDENTAL that both charge the
same intl transaction fee.
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bajabk
Newbie
Posts: 22
Registered: 3-23-2004
Location: Todos Santos
Member Is Offline
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New BofA ATM Fees
Just got hit from BofA for 3% International Transaction Fees for an ATM withdrawal from Banco Santander. I contacted them and apparently as of 11/8,
this will be their new policy. They will continue to not charge ATM fees or Non BofA ATM fees. Current cost was $13.87 US for $6000 P. This is
going to hurt! They did (for this withdrawal only) refund the $13.87 to my account because of "my long association with Bank of America."
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tiotomasbcs
Super Nomad
Posts: 1837
Registered: 7-30-2007
Location: El Pescadero
Member Is Offline
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The cost of living in Paradise?! Now the IVA tax will soon go up, too. They're catching up with us. Cerveza next?   Tio
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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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bajabk. I know that this forum is a bit daunting at times for a newbie, in fact I still wander around vacuously here at times. You may want to refer
to a current thread on this topic it pretty much covers the subject. Now just wait till you want to download a photo here ------HOOOOOOOO Boy!
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bajabk
Newbie
Posts: 22
Registered: 3-23-2004
Location: Todos Santos
Member Is Offline
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I should have been more clear. BofA is in a group of International banks who honor each others members by charging no fees for ATM withdrawals while
traveling world wide. In Mexico, BofA members using Banco Santander or Scotia Banks were not charged any fees for withdrawals at their ATMs. I have
been using these banks here in Baja for several years without incurring any fees. I was notifiying those with BofA accounts that as of 11/8 you may
be charged the 3% International Transaction Fee. At that rate, multiple withdrawals per month for living expenses at $13.89 per withdrawal will be a
large, new expense. Just trying to provide information here.
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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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At the risk of being pedantic but you are confused. The 3% fee is a "foreign transaction" fee not an ATM fee and B of A is going to charge you that
if you withdraw money from an ATM or charge anything outside the US of A. This is the NEW part of B of A's policy. B of A has always waived the ATM
fee when using a "partner" bank anywhere in the world. We have taken advantage of that fact in more than 10 countries. My point was that, had you
used the search feature in this forum, you would of discovered my post of the 18th of September. If you had you would of been able to save yourself
$13.89. Now that may seem like a sniveling amount to some on this forum but hell, I've got a bunch of $ because, all my life, I have refused to line
the pockets of some corporate goofballs to pay their greens fees in La Jolla.
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
Member Is Offline
Mood: must be 5 O'clock somewhere in Baja
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Southwest Airlines/Chase VISA - No foreign transactions fees when using charge card
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bacquito
Super Nomad
Posts: 1615
Registered: 3-6-2007
Member Is Offline
Mood: jubilado
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I was charged $13 dollars and change by BofA 11/28/2013 to withdraw $460 from my BofA account and deposit the $460 in Bank Santander.
I will be more careful ion the future! I bank in Ensenada.
bacquito
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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 bigmike
I used Santander yesterday, using my Bank of America Debit card and was charged nothing by either Bank and got 13.15 to the dollar also.
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Yeah, that's what I thought too until I realized that the fees don't appear on the account until 36-72 hous later.
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C-Urchin
Nomad
Posts: 234
Registered: 12-17-2008
Location: La Paz
Member Is Offline
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bank charges
| Quote: | Originally posted by durrelllrobert
Citi bank has always charged a 3% fee for international purchases. Cost me $360 for my 3 day hospital stay in Canada since the only way I could get
discharged was to put the whole $12k on my Citi bank Visa card 
[Edited on 9-18-2013 by durrelllrobert]
[Edited on 9-18-2013 by durrelllrobert] |
I am a Citibank customer from California and they never have charged me a fee.
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Hook
Elite Nomad
Posts: 9009
Registered: 3-13-2004
Location: Sonora
Member Is Offline
Mood: Inquisitive
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Called B of A to inform them we are closing the account. They asked, "why" and I said because of the new 3% intl transaction fee. They basically said,
OK.
For those of you who already have a Mexican bank, has anyone looked into using an online exchange house, like XE.com, to transfer money,
electronically, into your Mexican bank account?
[Edited on 12-1-2013 by Hook]
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Susun
Newbie
Posts: 1
Registered: 12-1-2013
Location: Mérida, Yucatan, MX
Member Is Offline
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Bank of America international fees
I live in Yucatan. I was directed to your forum by other ex-pats asking me to share my petition, but I cannot figure out how to post it. Basically,
BOA has decided to start charging a 3% international fee on all transactions regardless of whether one uses a global alliance bank or not. We are
protesting the charge of this fee and hoping that with many voices they will reconsider the charge. Can you please share the petition with the
members? http://www.change.org/petitions/bank-of-america-eliminate-th...
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