Changes coming for BofA ATM users...

[ccannon707]

As I'm getting ready to travel to Cozumel in Sept, I'm taking a look at my BofA account. I only use it for Coz traveling, using my debit card to get pesos out of Santander Bank - for no fee - when I'm there. When I logged into my account I saw a link titled " Changes to Your Account Services" ... always ominous. All ATM/Debit cards are now Visa or MasterCard branded. I will miss this unfortunate change in policy this year... but if I'm reading this right it is coming.

Starting November 8, 2013:

International Transaction Fee:

If you withdraw foreign currency from an ATM in a foreign country, Visa® or MasterCard® will convert the transaction into a U.S. dollar amount. We charge this fee on the converted amount: 3% of the converted U.S.dollar amount

And of course the ever-helpful "tip":

When you’re traveling abroad, you can avoid an additional fee by using our International Partner ATMs. If you use an ATM that is not an International Partner ATM, a $5 Non-Bank of America ATM Fee also applies. To see the list of partners abroad, visit bankofamerica.com and search for “Global ATM Alliance"

I took $100 in pesos out of a HSBC bank in Isla Mujeres with my BofA ATM card a couple years ago and it cost me $7. :shocked2:

 

[button]

I have BOA. When I was traveling in Australia, I used one of their international partner banks to get money out. They didn't charge me any ATM fees and their exchange rate was surprisingly good.

However, for most of my purchases (both at home and abroad) I use my Chase Sapphire Preferred card. NO foreign exchange fees and their exchange rate is AWESOME. Plus 2x points for all travel and restaurant purchases. With their bonus points offer (40,000 to sign up), we've managed to rack up 75,000 in points in about 6 months. If I have to do something for work like send someone flowers, I shop through their ultimate rewards mall and rack up extra points that way. My job reimburses me and I get points towards travel. It's a win-win!

 

[cvchief]

Hmm...

I will have to test the difference between September and December. I hope that deal doesn't go south on us.... so to speak....

---------- Post added August 20th, 2013 at 06:04 PM ----------

Hey I dug through the my account and found:

In addition, Bank of America has arranged for you to use your debit or ATM cards in China at China Construction Bank ATMs (China Construction Bank ATMs in Hong Kong are not included) and in Mexico at Banco Santander with no ATM Operator Fees or Non-Bank of America International ATM fees.

Doesnt say anything there about changes. You sure it will apply to Santander?

 

[Christi]

I just found that same thing chief - hoping that we stay "fee free" with Santander!

 

[ccannon707]

Chief, No, I'm not sure... going from what I just read about their upcoming "changes to account services". That would be great, albeit strange, if the rate hike is worldwide except at 1 bank in China and Santander in Mexico... go figure...

I will have come and gone this year, but it bears watching come November. I too have my fingers crossed for fee free.

Hmm...

I will have to test the difference between September and December. I hope that deal doesn't go south on us.... so to speak....

---------- Post added August 20th, 2013 at 06:04 PM ----------

Hey I dug through the my account and found:

In addition, Bank of America has arranged for you to use your debit or ATM cards in China at China Construction Bank ATMs (China Construction Bank ATMs in Hong Kong are not included) and in Mexico at Banco Santander with no ATM Operator Fees or Non-Bank of America International ATM fees.

Doesnt say anything there about changes. You sure it will apply to Santander?

 

[cvchief]

Oddly, I went looking in mine and could not find a message about the rate hikes. It also took me FOREVER to find the Santander thing. I searched it on BOA and they returned a hit on the atm page quoting a little bit with Santander in it. I followed the link and Santander was nowhere on the page. I had use Google to find it on the BOA site.

I have just an ebanking online checking account for Coz.

You know too, as I think about it, something happened last year and they *thought* we were going to get charged for MX withdrawals but it didn't happen then so maybe it will be more of the same?

Fingers crossed....

 

[cvchief]

Hey I just went online to my account and chatted with BOA. I just 'chatted' with BOA on my online account and they said: "Richard, I have checked all the details for you and see that there is no such update and Bank of America has arranged for customers to use their debit or ATM card at the Banco Santander in Mexico with no ATM Operator Fees or Non-Bank of America International ATM Fees."

Where is the elusive truth.....?

Besides BOA STILL owes me. I bought some BOA stock on the first BIG dip when it crashed. Regrettably the first big dip was not the LAST big dip.....

 

[Christi]

I could not find the same notice that Christine posted either, but found the Santander info that you posted Chief

 

[cvchief]

I could not find the same notice that Christine posted either, but found the Santander info that you posted Chief

On a local thread on FB, it is running 3 to 1 for no changes. 3 contacted BOA and got a no change answer and one got a there will be fees answer. So who knows?

But wasnt there the SAME rumor like a year ago that didn't happen?

 

[WB2GLP]

I'm not a fan of BoA. I received a personal check a few months ago from a BoA customer and I tried to cash it at BoA without an account. They refused to cash it without fingerprinting me. I'm sorry, not happening.