ATM fees

by mosesk @, Ojai, CA, USA, Monday, May 04, 2020, 11:39 (180 days ago) @ Ironwood

Let's get scientific.
As of this very moment:
1. the xe.com is 17.3051
2. Transferwise is 17.3049, and if you transfer 1000 CAD, they will take 13.01 off the top for an effective rate of 17.3049.
3. Can someone run down to Scotia, Inbursa, Santander, Banorte, Intercam, etc and ATM the equivalent of 1000 CAD

It wasn't my intention to compare xe.com's rate to anyone else's. To repeat: the xe.com is a "mid-rate", which they point out is not normally available to consumers. I use it only to get some idea of what I'll get at Scotiabank's Zihua ATM, and I've found, over the years, that I'll get from 2.5 - 3% less that the posted xe.com rate.
If you routinely do better, good on ya.
Re #3: At Scotiabank Zihua, yes, since my daily cash limit on my Canadian Scotiabank account is $1000. I can't recall ever trying to withdraw more that 9000 pesos in one transaction. At the rates in effect last January/February, two withdrawals - one of 7000 pesos and one of 6000 - brought me close to my daily maximum of $1000 Canadian. As noted, I pay no ATM fee at Scotiabank.

Wasn't meant to be personal.
It's an academic exercise with practical implications for anyone who is concerned about every peso

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