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Author: Subject: Àre all ATMs charging a currency conversion charge?
surabi
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[*] posted on 2-12-2023 at 02:31 PM


Quote: Originally posted by 4x4abc  

Basic understanding:
if you accept the proposed rate, you get robbed in fees
if you decline, the market rate of that day is used and you get robbed a little less.


Exactly. There is no need to experiment. You always get a worse rate if you accept the machine's currency conversion.
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baja-chris
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[*] posted on 2-13-2023 at 12:35 PM


Aside from the currency conversion rip-off, there are bank accounts other than Schwab that do not charge fees for using ATM's in Baja.
I'm using Chime and I've been told Ally is also a fee free option. You still pay whatever fee the local ATM charges but you avoid an out of network fee from your bank plus the common international transaction fee. For example BofA fees can be as high as $15 per transaction.
I thought that was outragous and went into the bank to complain and they reversed those fees going back a few months but they could not prevent them from continuing. So I opened this Chime account and it works great. Costs nothing to move money into it from my normal banks.
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mtgoat666
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[*] posted on 2-13-2023 at 01:06 PM


Quote: Originally posted by baja-chris  
Aside from the currency conversion rip-off, there are bank accounts other than Schwab that do not charge fees for using ATM's in Baja.
I'm using Chime and I've been told Ally is also a fee free option. You still pay whatever fee the local ATM charges but you avoid an out of network fee from your bank plus the common international transaction fee. For example BofA fees can be as high as $15 per transaction.
I thought that was outragous and went into the bank to complain and they reversed those fees going back a few months but they could not prevent them from continuing. So I opened this Chime account and it works great. Costs nothing to move money into it from my normal banks.


i use fidelity. no atm fees anywhere in the world




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