ATM's amount

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shawnie
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ATM's amount

Post by shawnie » Tue Feb 01, 2011 2:25 pm

Can anyone tell me what the MAX amount is that you can take out of an ATM. And what a usual charge is? My memory is not so good and I do not remember and my Mom and Dad are there and want to use it is not too much to use.
I thought it was like a $2 charge and you can take out $500....am I wrong?
Thanks
Shawn (16 days till paradise!) 8)

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katnsocal
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Post by katnsocal » Wed Feb 02, 2011 9:45 pm

Sorry, double post.
Last edited by katnsocal on Fri Feb 04, 2011 8:02 am, edited 1 time in total.

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Post by katnsocal » Wed Feb 02, 2011 9:47 pm

The ATM fees are charged by your home bank so it depends on what your bank charges for fess withdrawn from a bank out of their network. If you have an account with BOA there are not fees if you withdraw at a Santandar or Scotia bank as they are affiliated with BOA. The limit may be whatever your bank allows you to withdraw per day (but I am not 100
% sure on that). Most people withdraw the max possible per withdrawal to avoid the extra withdrawal fees incurred with multiple small withdrawals.

I believe I read somewhere that Scotia bank now charges a fee if your ATM card is from a non-affiliated bank, so unless you have a BOA account you might want to avoid Scotia bank.

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Post by chrisnick » Fri Feb 04, 2011 4:28 am

At Christmas the most I could get out of an ATM was 3000 pesos. That worked out to about $255 Canadian (including fees).

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Post by shawnie » Sat Feb 05, 2011 4:29 am

Thank you for the reply's I will just have to ask my bank what they change then. I have to report that i am out of the country any way as they will shut the card off if they do not know and the activity is different! But yeah thank you very much.

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Post by kcowan » Sun Feb 06, 2011 6:56 pm

chrisnick wrote:At Christmas the most I could get out of an ATM was 3000 pesos. That worked out to about $255 Canadian (including fees).
If you use a bank ATM (like Banorte), the amount to be withdrawn is limited by your daily ATM card limit. I regularly w/d 10,000 pesos but could go higher based on my limit.

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Post by Samsa53 » Tue Feb 15, 2011 4:22 pm

Im wondering about fees and maximum amounts too. It would be quite useful to have a list of the different banks and their foreign ATM conditions. Does anyone know if Mexico is treated any different by american banks vs. lets say a european country? Thanks.

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Post by katnsocal » Tue Feb 15, 2011 6:26 pm

It would be quite useful to have a list of the different banks and their foreign ATM conditions. Does anyone know if Mexico is treated any different by american banks vs. lets say a european country?
It would be impossible to compile a list of all the banks and their ATM fees. Banks have many different types of accounts some have low or no fees for a certain category of customers, what applies to one person may not apply to another person. The easiest thing for you to do is go to your bank or your bank's website and ask them what fees they would impose on you in the country you are traveling to.

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Post by kcowan » Sat Feb 19, 2011 3:38 pm

Generally there is a fee of 25 to 35 pesos plus any bank charges, unless your bank has a relationship: Scotia, HSBC, Santander, Banamex, Banorte, Bancomer.

And Direct Cash has the cheapest fees of the independents.

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Post by Marttin43 » Wed Feb 23, 2011 1:18 pm

Most banks I've used had charged me 29 pesos per transaction. I usually pull 10,000 pesos per. I also check the current exchange rate on google finance since the dollar has been up and down lately.

Still, you get the real current rate without paying comissions. If you bank with BoA or WF, you could do a bank transfer to yourself free of charge, but you have to set it up b4 you travel and then do it either on line or by phone when you need cash.

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Post by katnsocal » Wed Feb 23, 2011 6:59 pm

In Oct. I did a "Safe Send" through BOA and it worked out really well. All I had to do was go to Santandar with the code BOA had given me, show my passport and pick up the money. I have an in room safe so trying to find a lampshade to hide it in is not an issue for me. All I had to do was open the safe, take out however much I needed for that day or activity I was doing and the rest stayed in the safe. I got the exchange rate for the day I did the transfer and it was actually lower the day I picked it up, but the exchange rate is always tied to the day you do the transfer. I also took just in case $$$$ down with me but never had to use it.

Just another option to think about if you are a BOA customer and you don't want to use the ATM for whatever reason.

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Post by Marttin43 » Wed Feb 23, 2011 11:44 pm

Smart gal.

It is always good to bail money handy. Frecuent Vallarta travellers should consider opening a bank account here, don't have to deposit a bundle but have just enough to avoid monthly charges and all. I had opened mine when the peso vs dollar was at 15 pesos per dollar. I should've depositede more.

When is your next trip down here?

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Bail Money?! (and ATM fees)

Post by oneistwo » Fri Feb 25, 2011 11:08 pm

I leave the matter of bail money to my lawyer. It's up to him to make sure there's enough for me, my wife, my mistress, himself, my personal doctor, my chauffeur, my masseuse, my chef, and anyone else in my retinue. As I said, I leave it in his hands.

In the meantime, I don't understand the perennial fuss over ATM fees unless you're spending months at a time in PV. For a normal vacation, 1-3 weeks, a few bucks here or there really isn't going to make a difference. How many hours are you going to spend shopping for the best deal and how much is that going to save you versus the value of your time, when the fee is about the price of a margarita? Relax.

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ATM fees

Post by abbyresse » Mon May 09, 2011 8:35 am

Out of network customers can breathe very easily, as Chase bank is canceling its pilot program of charging non-Chase consumers a lot to use Chase ATMs. Chase wanted to see if individuals would be willing to pay more to use its extensive ATM network, and raised ATM fees in certain areas to $4 and $5. People were more willing to use another bank's ATM, so Chase decided to pull the plug on the higher fees. Here is the proof: Banks will not raise ATM fees too high for now.

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Post by katnsocal » Mon May 09, 2011 8:41 pm

The Chase bank decision has nothing to do with ATM's in Mexico. They are referring to their program that was charging non Chase ATM customers higher fees to use their ATM's in the United States. It doesn't mean they have lowered their fees for ATM usage internationally.

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