ATM fees. New ripoff by BOA

Discussion in 'Cancun Info' started by T.J., Dec 15, 2013.

  1. T.J.

    T.J. I can choose my own title Registered Member

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    If any of you have Bank of America accounts, and use your cards in Mexico orn anywhere else outside of the US, they just started whacking us all for a 3% fee on ATM withdrawals. Previously, there was no fee if you used them in Mexico at Santander or Scotiabank.

    This will affect you on your visits here but it really kills me and all of your BOA customer friends who live here.

    We customers who are now getting screwed over by BOA could use your help by getting signatures on this petition which takes about one minute to sign. Name, Country, Zip code and Email is all it takes. If you want to Share with your FB friends that is a huge bonus.

    This is going to cost me, a single guy, about $2,000 USD per year. Friends here who have their own businesses expect there cost could be almost 10 times that.

    Thanks, we badly need your help.

    https://www.change.org/petitions/ba...s-within-the-global-alliance-banks#supporters
     
  2. Steve

    Steve Administrator Owner

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    I think BOA must be the last of the foreign banks to introduce a charge like that. We have been paying similar since we got here 9 years ago.

    I actually changed my bank account to HSBC shortly before I left the UK because they said they were the 'Local bank of the World' and could help save on charges in Mexico. HSBC Cancun had no idea about that.

    There are much cheaper ways of accessing cash from abroad than withdrawing from ATM's.
     
  3. Don&Olga

    Don&Olga Guru Registered Member

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    Our bank charges us a percentage fee when we use our debt cards outside of Canada, we also pay a ATM fee if we use a ATM machine that is not from our own bank the fee it is usually about $1.50 per use.
     
  4. Donald

    Donald Devil's advocate Registered Member

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    On top of all that the issuing ATM company usually imposes a charge of their own.

    Never understood the need to use an ATM machine, credit cards are a lot cheaper and safer to use.
    I always bring a ''sacrificial '' credit card with a low limit to use outside the resort or for leaving deposits.
     
  5. baztack

    baztack Enthusiast Registered Member

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    A good way to get them to listen is to close accounts. Well, that's pretty much the only way. Complaining is like a rocking chair, it gives you something to do, but gets you nowhere. I mean you can always try but lets be realistic.

    Just look into other options and ways that would benefit you and the others around you, and i'm sure you can come up with something.
     
  6. Don&Olga

    Don&Olga Guru Registered Member

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    We generally do the same...never use our debit cards outside of the county.
     
  7. ToriB

    ToriB Cancuncare Sun Care Advisor Registered Member

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    I would like to mention that the OP, TJ lives here. And it's kind of difficult when you live here and earn money from outside of the Country, to access that money without the use of a debit card. For those posting that vacation here, it's not the same and he is just looking for help for all the foreigners that live in Mexico, that signed up with BOA becaused of the waived fee, to help them out. And there are many.
     
  8. T.J.

    T.J. I can choose my own title Registered Member

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    Thanks ToriB

    Still no permanent change but I have had over $100 in fees waived. There really seems no cheaper way to get money here Even with this 3% fee, the exchange rate is still cheaper even with deals like Schwab bank and the credit unions. It is just that the BOA rate was better, even better than taking cash to a bank or exchange house.

    It's just that so many of us feel ripped off by this bait and switch deal tha BOA laid on us. Enticed us to open accounts, then pulled the rug out from under us.

    Jerks
     
  9. Arizona Al

    Arizona Al Enthusiast Registered Member

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    T.J., just wondering if BoA has actually started charging the fees yet when you use Santander Bank? I am planning on coming down the 1st of Nov thru 28 Feb 2015 so I need to know if I can still use Santander Bank without the fees. If I have to pay the fees I will need to find an alternative way to get money.

    Al
     
  10. Arizona Al

    Arizona Al Enthusiast Registered Member

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    I haven't heard from T.J. so just wondering if anyone else is using their Bank of America cards in the Santander ATM's and if they are being charged any fees? Two years ago when I was there for 3 months I used Santander's ATM's without any fees and got a very good rate of exchange. I just booked my flight back to Cancun so I will be arriving on the 28th of October and would like make sure I won't be charged any high fees at Santander Bank. Any help