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tehag
Super Nomad
Posts: 1248
Registered: 1-8-2005
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Bank robbery
I am retired in Mexico and my Social Security is auto-deposited into a checking account in the US. I have used a WAMU debit card to get pesos from my
WAMU checking account for years. Wamu charged a 1% foreign transaction fee, and the foreign owner of the ATM charged another 1%. Chase took over WAMU
recently, and in addition to raising their portion of those 2 fees to 3% they have added a currency exchange adjustment which in my case amounts to a
combined total of more than 10%. This is not due to currency price fluctuations, the ratio hasn't moved by more than 2% or so either way from 13.25 to
the dollar in some time and is overall pretty stable. This week Chase adjusted my exchange rate to 11.58 for no reason that I can see but pure theft.
I called them today and was told, politely, to suck it up and move on. Shame on Chase.
Certainty is the child of ignorance, knowledge is the mother of doubt. Question everything!
http://bcsbirds.com |
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capt. mike
Elite Nomad
Posts: 8085
Registered: 11-26-2002
Location: Bat Cave
Member Is Offline
Mood: Sling time!
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WAMU was way better than Chase. i hate chase. they suck.
when chase bought WAMU i feared the worst...and it has come true in my dealings too.
formerly Ordained in Rev. Ewing\'s Church by Mail - busted on tax fraud.......
Now joined L. Ron Hoover\'s church of Appliantology
\"Remember there is a big difference between kneeling down and bending over....\"
www.facebook.com/michael.l.goering |
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castaway$
Senior Nomad
Posts: 742
Registered: 7-31-2007
Location: Gold Hill, Oregon
Member Is Offline
Mood: Fish on!
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Thats why I am reluctant to use the ATM's when I'm in Baja. I know a lot of Nomads recommend it but my experience has been the same when I use my B of
A card.
[Edited on 10-30-2009 by castaway$]
Live Indubiously!
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Baja&Back
Senior Nomad
Posts: 549
Registered: 9-10-2004
Location: Vancouver, Canada / todo de Baja
Member Is Offline
Mood: Rarin' to go South!
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| Quote: | Originally posted by castaway$
Thats why I am reluctant to use the ATM's when I'm in Baja. I know a lot of Nomads recommend it but my experience has been the same when I use my B of
A card.
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Look for Santander ATMs. No fee with B of A.
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SteveD
Nomad
Posts: 106
Registered: 11-29-2007
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We always use the ATM at the Calimax at the North end of Rosarito when we stop there to stock up on the way down to our place. The ATM says the
charge is 7 pesos but we are charged $1.50 US. This is OK when we are pulling out 2000 to 3000 pesos. Also, the exchange rate has always been very
good.
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
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I live by the ATM down here and now I have this Chase crapola to be concerned with. I'll have to keep a closer eye on what the costs are, not that I
have a lot of options.
My biggest concern now is if Chase will be as possitively responsive when the ATM debits my account for the 6K Ps I've requested and gives me only
part or none of my money. This happens here almost too often and WAMU took care of that right away.
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MikeLikeBaja
Nomad
Posts: 122
Registered: 2-25-2009
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I have had "no money" come out of Santander bank machines 4-5 times in 3 different location over 6 years. BofA always credits my account right away
and then somehow investigate. B of A has always been great for living in Baja. Dennis......Valentines Day?
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DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
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| Quote: | Originally posted by MikeLikeBaja
......Valentines Day? |
MikeLickmeBaja.............
No...I'm busy.
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
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It's not J.P. Morgan Chase for nothing. One of the larger financial companies, and one that did not need a bailout. Must be because they already gouge
enough from customers. Yesterday, there was a guy outside the local WAMU/ Chase bank holding a picket sign saying Chase was a crook.
I was wondering. I've heard a story, unverified. Someone I know who was a WAMU customer, now Chase, and is on direct deposit social security, told me
that since Chase officially took over, their account is being funded 5-6 days later each month. Supposedly, there is a mandatory last date, but that
the funds transfers were always made ahead of time. It makes it appear that Chase hold onto the funds for their own use. Any nomads at Chase who have
direct deposit SS?
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noproblemo2
Super Nomad
Posts: 1088
Registered: 4-14-2006
Member Is Offline
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We use Wells Fargo, with a balance of "X" amount in your account the fees are waived/re-imbursed. You might check to see if they will do that also.
[Edited on 10-30-2009 by noproblemo2]
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David K
Honored Nomad
Posts: 64857
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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Washington Mutual (WAMU) was a good bank... the GOVERNMENT closed it down and gave it to Chase to run... Look for things to get worse (like ANYTIME
the government gets involved with private enterprise).
I was with Glendale Federal years ago ...which was good, then it changed to CalFed... which was okay... until it became CitiBank and things went to
h*%#... moved to Washington Mutual... 
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BajaBruno
Super Nomad
Posts: 1035
Registered: 9-6-2006
Location: Back in CA
Member Is Offline
Mood: Happy
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I've heard BofA horror stories for years, and I always ask the people who tell them, "Why don't you just change banks?" There are hundreds of banks
out there, and I've always found that local banks can do anything the Big Brother banks can do, but with a zillion times better customer service.
People always say it is a hassle to change banks. It is, but it's free, and a lot better than b-tching about bad service and usury.
Christopher Bruno, Elk Grove, CA.
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mtgoat666
Select Nomad
Posts: 18396
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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| Quote: | Originally posted by David K
Washington Mutual (WAMU) was a good bank... the GOVERNMENT closed it down and gave it to Chase to run... Look for things to get worse (like ANYTIME
the government gets involved with private enterprise).
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DK: your comment suggests that govt was to blame for changes to WAMUs fees the govt got involved to save banks that were too big to fail
you forgot that bankers caused the problems, and you were brainwashed to believe govt caused the financial melt down 
DK: turn off the radio before your brain completes its transformation to mush  
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Fred-o
Junior Nomad
Posts: 84
Registered: 7-6-2008
Location: Punta Banda
Member Is Offline
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No Friend of B o A ..But
B of A has "done me wrong" many times, however.......
Yes, you can use your B of A ATM card at any Santander ATM without fees. (On either end) You can also use Scotiabank ATM's, but they are few and far
between. Only two in Ensenada at their bank locations only. Not in merchants stores like Santander.
edited note:
Santander Serfin
Santander Serfin is the third largest financial group in Mexico. It has 970 branches and more than 1,800 ATMs in the country. Santander Serfin is part
of Santander Central Hispano (SAN.MC, STD.N), which is the largest financial group in Spain and Latin America, and the second largest in the Euro zone
by market capitalization. Founded in 1857, it has a presence in 40 countries with more than 9,000 offices and US$450 billion in managed funds.
[Edited on 10-31-2009 by Fred-o]
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
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Once again, David, you step on your tongue. However retail customers felt about WAMU, the simple fact is that the had become inundated with sub-prime
loans which was their bread and butter. (is that a "good" bank?). Their stock value plummeted from $36 a share to 45 cents a share. For weeks, they
were feverishly looking for a buyer. Yes, the government got involved, but the fact is that Chase paid nearly $2 Bil for the bank and has managed an
almost seamless transition. The alternative would have been for the bank to be seized by the feds. Remember that all this happened right after the run
on IndyMac bank. A run on Wamu was imminent, and it would have been ugly. So your ridiculous post is just that. Whether folks are going to hate Chase,
the fact is that the government's involvement in this acquisition actually saved tons of money and assuaged many people's fears. I just hate it when
you jump into stuff with your Fox News mentality, when you do not have a clue.
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castaway$
Senior Nomad
Posts: 742
Registered: 7-31-2007
Location: Gold Hill, Oregon
Member Is Offline
Mood: Fish on!
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It may be true that Santander doesn't have a fee but where are they? are they in BOLA, Mulege, Lopez Mateos, you can't always count on finding
anything in the small towns we like. Plus mikelikebaja's story, is the hassle worth it when your on vacation and supposed to be having a goos time.
Live Indubiously!
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David K
Honored Nomad
Posts: 64857
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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>>> it's not worth arguing with ******* about the facts... <<<
[Edited on 10-31-2009 by David K]
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mtgoat666
Select Nomad
Posts: 18396
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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| Quote: | Originally posted by David K
The GOVERNMENT forced banks to lend money to unqualified borrowers, who had no means to pay it back... had no business buying a home... It was
GOVERNMENT blackmail... |
DK: I find it comforting to know that when it comes to current events I can count on you to post absolute nonsense. At least you are reliable. Keep
up the good work!!!!!
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Bajahowodd
Elite Nomad
Posts: 9274
Registered: 12-15-2008
Location: Disneyland Adjacent and anywhere in Baja
Member Is Offline
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The government did not close down WAMU, David. WAMU was a basket case headed for a bank run that hadn't been seen since the great depression. Maybe
you ought to re-read my post. WAMU was belly up. The government in the form of the Fed provided a short transition to a situation where a viable bank,
Chase, who did not have a real presence in much of WAMU territory, was able to negotiate a purchase for nearly $2 Bil. The bank was never seized. It
was more of a matter of providing assurances. No one lost their money and the government didn't have to take over failed bank. It was an actual
success story. What part of that do you not understand? Chase probably does suck as a retail bank. I'll likely look to move my money from them. But,
David, this happened during the Bush administration. You likely know that I'm no fan of Bush. But the Fed got this one right. And the Dems in congress
had NOTHING to do with it. You really need to change the flavor of Kool-Aid you drink, and stop watching Fox News.
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David K
Honored Nomad
Posts: 64857
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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Oh sure... Wamu closed/ changed owners on purpose... nobody made them do it!
Who is drinking Kool Aid? Too much MSNBC or CNN or CBS or ...
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