"Dinero, I have to publish this every year"
by Ed 
, Huntsville, AL, USA, Friday, September 26, 2014, 09:44 (4354 days ago)
I read this and if all is still true I think traveler's checks are the way to go to keep from being charged all the fees. Can anyone think of a better way to exchange for pesos?
Thank You
Ed
"Dinero, I have to publish this every year"
Most places do not take travelers checks. Hard to even find a bank that will exchange them for you. Paying a fee is the small price you pay for having instant access to your money. I was just in my home bank this week finding out if there was an way around this fee stuff for me. Not yet.
"Dinero, I have to publish this every year"
by Paulf , Mount Sterling, Ky 40353, Friday, September 26, 2014, 11:37 (4354 days ago) @ LadyM in Zihua
ETrade refunds the ATM fee charged by other banks, now there is a added conversion fee that is not refunded back. I think this new fee started about 3 years ago with ETrade. So now I look for the bank that offers the best rate and get most of cash I need at 1 time.
"Dinero, I have to publish this every year"
by Ed , Huntsville, AL, USA, Friday, September 26, 2014, 12:38 (4354 days ago) @ LadyM in Zihua
I just came from my bank and my debit card will charge $2 + any ATM fee. My credit card is a flat 3%. I also asked if there was any way around the fees and they said no. When I was there 5 years ago I had no problem walking to the bank down there and cashing them. My local bank doesn't even carry them any more.
Thank You All
Ed
"Dinero, I have to publish this every year"
by jodymaryk , Friday, September 26, 2014, 13:22 (4354 days ago) @ Ed
If I withdraw cash from my Bank of America accounts from Santander Bank there is no fee as they are sister banks. At least that has been the case the past couple of years but haven't withdrawn yet this trip. We use our creditu nion credit card at Comercial as they only charge 1% international transaction fee vs. 3% for our B of A AlaskaAir card. The CapitolOne credit card we use to have didn't charge a fee for international charges but they ticked me off a few years ago with a 10% interest increase for no reason so I cancelled them. My hubby goes to Bancomer early on Wednesday when we get into town to exchange $ for peso and this week got 12.75 with no line to wait in. Was back home in about 20 minutes. Easy breezy!
BOA/Santander No Fee ATM Withdrawal-GONE!
by Sunlight Dancer , Friday, September 26, 2014, 13:48 (4354 days ago) @ jodymaryk
Bank of America started charging for international ATM transactions in late 2013.
We opened a separate checking account with Charles Schwab which rebates all ATM fees at the end of the month.
BOA/Santander No Fee ATM Withdrawal-GONE!
by Paulf , Mount Sterling, Ky 40353, Friday, September 26, 2014, 16:18 (4354 days ago) @ Sunlight Dancer
When we first started going down everyone used Travelers Checks- very few places took CC's then. Later got a C-1 air miles cc- could not believe the fees charged for using the card in Mexico. ETrade offered a no fees Visa for foreign transaction( bank discontinued card this year). About 5 years ago ETrade offered a Bank Debit card with no fees no matter where it was used(fees were re reimbursed immediately) which we got and have used it ever since but in the last couple of years ETrade has started charging a conversion fee outside the US(bank fees are still reimbursed)- our local bank charges out of network and foreign transaction fees. Because of fees we use our Chase/United Credit Card where ever possible- if can get a better deal with cash will use cash and hit a ATM later. It seams a good deal does not last for ever- waiting for Chase to start charging conversion fees on the United Air Miles Card.
BOA/Santander No Fee ATM Withdrawal-GONE!
by Talley Ho , Playa la Ropa, Friday, September 26, 2014, 17:34 (4354 days ago) @ Paulf
Check the archives starting November 9, 2013 when the BofA policy changed. That information is still current.
We are thrilled with our CapOne credit cards-absolutely no fees, and still 1.5% cash back. Don't know what the interest rates are, always pay them off.
The CapOne 360 ATM card is also terrific. No fees on their end, no fees at Allpoint ATM'S, there are a couple in Zihua/Ixtapa. Otherwise, the Santander (or whomever's) fee is all we pay, something like 34p per transaction. Easy, safe, best exchange rate.
BOA/Santander No Fee ATM Withdrawal-GONE!
by laurita , Friday, September 26, 2014, 21:45 (4353 days ago) @ Talley Ho
Where the the allpoints ATMs in zihua? Never found one last year. The allpoints ATM at the airport was MIA
BOA/Santander No Fee ATM Withdrawal-GONE!
by Talley Ho , Playa la Ropa, Saturday, September 27, 2014, 00:17 (4353 days ago) @ laurita
I asked about that last year, too. They said to look for the green one, which was there, and it was a Bancomer (I think) logo. Just query them now, and they will make it very clear.
"Dinero, I have to publish this every year"
by Ed , Huntsville, AL, USA, Saturday, September 27, 2014, 07:14 (4353 days ago) @ jodymaryk
Hello
So I can bring cash and exchange it without any fee? If that is the case I will use cash and my HD Card for lodging and I will get double points on my card to pay for my motorcycle maintenance and anything else I may want from the Harley Davidson dealer. The $30 fee on a $1000 will net me $200 in Harley cash.
Thank You
Ed
"Dinero, I have to publish this every year"
Good move, Ed. We got the last of the Travelers checks that our US Bank had this past January. They stated that they will not be getting anymore and the only extra place other than Hotel Irma, where we stayed, where we cashed them was a cambio near Zorro's. Have a great trip!!
"Dinero, I have to publish this every year"
by jodymaryk , Saturday, September 27, 2014, 08:16 (4353 days ago) @ Ed
Bummer on the no fee (except for Santanders) ATM withdrawals from B of A. Doesn't surprise me though. I am looking at the receipt hubby brought home from Banorte. Exchanged $500US at 12.75% and received $6375 peso. Shows commission as '0'. They do make you go make a copy of your passport though on their machine but there is no charge.
BOA/Santander ATM Fee Exemption-No Mas
by Sunlight Dancer , Saturday, September 27, 2014, 12:42 (4353 days ago) @ jodymaryk
Bummer on the no fee (except for Santanders) ATM withdrawals from B of A.
The BOA/Santander Global Alliance ATM fee exemption is no more. As of November 2013, BOA charges a 3% foreign currency transaction fee if you are a BOA customer using a Santander machine. It will be on your bank statement. 
12.75???
by midalake , Saturday, September 27, 2014, 12:50 (4353 days ago) @ jodymaryk
Seems like the spot rate is over 13.2
12.75 is a VERY crappy exchange.
Dave
12.75???
If she needed a copy of her passport it sounds like she exchanged cash, and that is what the banks here in Zihuatanejo are giving for an exchange rate these days. I have not been lucky enough to actually get the exchange rates they post on internet sites yet. You take what you can get!
Yes, we did exchange cash and yes I would love to get what is on the Internet currency exchange rates but that isn't going to happen. I believe the banks give the best exchange rates vs. banks at home, currency exchange stands or hotels. They are going to make their money somehow. 
I think all of the banks on town offer similar rates give or take a small difference if you want to shop around. We tend to go with quick and easy. Oh, and FYI, make sure none of your US bills are torn or damaged. No one, not even banks will take them. I always go through my bills at home and exchange damaged ones there before our trip.
12.75???
Most post what exchange they are giving. No one that I know of ever gives what is the actual rate. It ranges from 12.40 to 12.79 or so. Just go to the bank that gives the highest rate.
Banco Santander MAYBE ?
by juanrojo , Sunday, September 28, 2014, 16:41 (4352 days ago) @ LadyM in Zihua
The BOA/Santander Global Alliance ATM fee exemption is no more. As of November 2013, BOA charges a 3% foreign currency transaction fee if you are a BOA customer using a Santander machine. It will be on your bank statement.
I recently posted something similar on a travel forum for another Mexican town , agreeing completely , with is and the other opinions above .
My post
If you refer to the no fee arrangemant between BofA and Santander I believe that there is a fee now but Santander is still a good choice for total transaction cost due to low exchange rates . ATM fees and exchange rates vary with each card and bank and combination . Unless you are getting lots of cash the cost difference at any place probably wouldn't be as much as a cab to get to the better bank .
This was the response that MAY be worth inquiring about . I pass this on as something to ask about rather than being gospel .
Juanrojo, the BOA policy of imposing a fee (that had been put in place on Santander and Scotia ATM transactions last fall) has been lifted. The BOA has resumed its affiliation with Santander and Scotiabank.
My last response .
Excellent . We don't use B of A but I always like to see a good deal for someone .
Take it as you like .
Please be happy always .
--
Please be happy always
BOA/Banco Santander - 3% Currency Conversion Fee
by Sunlight Dancer , Sunday, September 28, 2014, 20:12 (4351 days ago) @ juanrojo
This was the response that MAY be worth inquiring about . I pass this on as something to ask about rather than being gospel .
Juanrojo, the BOA policy of imposing a fee (that had been put in place on Santander and Scotia ATM transactions last fall) has been lifted. The BOA has resumed its affiliation with Santander and Scotiabank.
Santander ATMs are great. We now use our Charles Schwab fee-reimbursed ATM card and can withdraw 9,000 pesos (I think) from the Santander ATM at Comercial. However, I can find no evidence that the Bank of America 3% foreign currency conversion fee has been lifted. A BOA customer will not pay an ATM usage fee at Santander, but if you withdraw the equivalent in pesos of $500 USD, you will get hit with a $15 fee. Withdraw the same amount again and it will be $30.
I apologize for posting the same information again but the 3% fee would be a most unpleasant surprise on one's BOA statement if you thought it no longer applied. Please be aware of this information on Bank of America's website:
Bank of America has 2 special partnerships with banks in Mexico and China where you can avoid the non-Bank of America usage fee for each withdrawal, transfer or balance inquiry, as well as the ATM operator access fee. An international transaction fee of 3% will apply when converting your currency.
China Construction Bank Mainland China, excluding Hong Kong
Banco Santander Mexico
https://www.bankofamerica.com/deposits/manage/faq-atm-fees.go
BOA/Banco Santander - 3% Currency Conversion Fee
This is correct info. There has never been a fee for Bank of America customers to use the Santander ATMs, but since Nov. 2013 there has been a 3% fee that is separate from the withdrawal on your statement. I got 13.37 pesos to the USD today - Santander/BofA and will have tomorrow AM a three percent charge on my statement.
Tess made my point on the 12.75
by midalake , Sunday, September 28, 2014, 21:26 (4351 days ago) @ Tess
This is correct info. There has never been a fee for Bank of America customers to use the Santander ATMs, but since Nov. 2013 there has been a 3% fee that is separate from the withdrawal on your statement. I got 13.37 pesos to the USD today - Santander/BofA and will have tomorrow AM a three percent charge on my statement.
She got 13.37............My experience is the ATM is very close to market exchange.
However 12.75 for "cash" is horrible.......
Dave
