We noticed that you're using an unsupported browser. The Tripadvisor website may not display properly.We support the following browsers:
Windows: Internet Explorer, Mozilla Firefox, Google Chrome. Mac: Safari.

Using Fidelity Cash Management

San Diego...
Level Contributor
141 posts
5 reviews
3 helpful votes
Using Fidelity Cash Management
Save

Now that the Bank of America / Santander partnership is not so beneficial (as of Nov 8, it appears as though BofA is charging a 3% forex fee), I'm considering other options.

Has anyone had actual experience using a Fidelity Cash Management account in Cancun? They claim that they refund all ATM fees and only charge a 1% forex fee (which, obviously, should be better than 3%). I just wonder if anyone has actually done this and find that it works well. I'd hate to rack up a lot of ATM fees only to find some glitch in the system.

Etzatlan, Mexico
Level Contributor
5,808 posts
20 reviews
24 helpful votes
1. Re: Using Fidelity Cash Management
Save

Open a Schwab Bank account and ALL fees are reimbursed in over 140 countries around the world......

Fresno, California
Level Contributor
3,768 posts
117 reviews
123 helpful votes
2. Re: Using Fidelity Cash Management
Save

Look into a credit union, I'm only paying 1% at mine and it was free about 3 years ago.

San Diego...
Level Contributor
141 posts
5 reviews
3 helpful votes
3. Re: Using Fidelity Cash Management
Save

Thanks for both of the other ideas. I will check with my credit union. While Schwab is an interesting idea, I already have a Fidelity Cash Management account... I just haven't used it yet. Schwab appears to have a monthly fee-reimbursement limit for all but their top-tier account, and Fidelity does not.

So, I'm still curious if anyone has any experience using a Fidelity Cash Management ATM card in Mexico.

West Palm Beach...
Level Contributor
6,581 posts
4. Re: Using Fidelity Cash Management
Save

forex fee is usually not classified as a fee and reimbursable. It is the prevailing exchange rate used 1% over , 2% over etc

for some of the best rates around try https://www.xoom.com/mexico

San Diego...
Level Contributor
141 posts
5 reviews
3 helpful votes
5. Re: Using Fidelity Cash Management
Save

Right. I understand that I'm unlikely to get anything that won't charge a forex fee. The problem is that BofA just went up from "may charge a 1% foreign transaction fee" to "will charge a 3% foreign transaction fee." I was planning to ditch the account after our trip (they just added a $14/monthly maintenance fee a couple of months ago), so when they changed the fees, I decided to start my research early.

In some of my reading, I've found that even the credit cards (Chase?) that advertise no international fees actually just reduce their exchange rate appropriately. I realize that the institution is going to skim something off the top... I just want to minimize the skimming as much as possible! :)

Thanks for the link... I'll check it out.

6. Re: Using Fidelity Cash Management

This post has been removed at the author's request.

To read more about editing your posts, please follow this link: http://www.tripadvisor.com/help/how_to_edit_your_posts
Poughkeepsie, NY
Level Contributor
527 posts
165 reviews
193 helpful votes
7. Re: Using Fidelity Cash Management
Save

Now I remember why I closed my Fido account, some 25 years ago. All together. Thanks for reminding me. Oh, they left one cent in my account to keep it open for about 5 years.

Edited: 10 years ago
8. Re: Using Fidelity Cash Management

This topic has been closed to new posts due to inactivity.

What are forum guidelines?
© 2024 Tripadvisor LLC All rights reserved.

This is the version of our website addressed to speakers of English in United Kingdom. If you are a resident of another country or region, please select the appropriate version of Tripadvisor for your country or region in the drop-down menu.