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Minneapolis Banks-ATM related charges

White Bear Lake...
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Minneapolis Banks-ATM related charges

I am one of those people that have still not tried using an ATM in PV. For years we brought travelers checks and then after they were not easily cashed anymore we started bringing cash. I am not comfortable carrying that much cash with us. But I hate fees! Does anybody from the Minneapolis/St. Paul area know which banks in the twin cities charge the least amount of fees for using an ATM in PV? I bank at Wells Fargo and their fee is outrageous in my opinion. I know if there is little difference in the fee it makes no sense to open a new account, but we come down often enough that if it is significant, it might be worth it. Thanks in advance for any help/information!

SoCal
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1. Re: Minneapolis Banks-ATM related charges

Look into getting a PayPal debit card, that's what JR uses, and I think he said it is $1 per withdrawal.

Fortunately my bank charges me nothing, or I'd consider doing it.

Pinellas Park...
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for Acapulco
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2. Re: Minneapolis Banks-ATM related charges

if you have Bank of America, they have an agreement with Santander and Scotia Bank. No fees.

delaware united...
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3. Re: Minneapolis Banks-ATM related charges

Watch the bank of america,they do have a international exchange fee on some transactions..booked a rythem of nites and was charged $18.30 on a $604.00 charge.

Calgary, Canada
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4. Re: Minneapolis Banks-ATM related charges

"booked a rythem of nites and was charged $18.30 on a $604.00 charge."

But isn't that a credit card transaction? That's different from an ATM cash withdrawal from your bank account.

White Bear Lake...
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5. Re: Minneapolis Banks-ATM related charges

Thanks for all the quick responses so far. The paypal debit card sounds very interesting! I will definitely check into that. Now that you metion that Ted, I do remember JR talking about that. Thanks for the reminder!

SoCal
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6. Re: Minneapolis Banks-ATM related charges

Looks like BOA has a 3% international CC fee.

My bank charges 2% for Intl CC transactions, which is why I seldom if ever use it in Mexico

Pinellas Park...
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for Acapulco
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7. Re: Minneapolis Banks-ATM related charges

BOA charges a three percent conversion fee for credit card transactions. If you do not use one of their sister banks, i.e., Santander or Scotia Bank for ATM withdrawal, then there is a one percent conversion fee. This was confirmed yesterday when I let BOA know I would be in Acapulco. Make sure you let your bank know you will be out of the country.

delaware united...
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8. Re: Minneapolis Banks-ATM related charges

Yes PV,that was a credit card ,but it was the first time it has happened to me.may just a new fee since some things where taken off them with new regulations that came in not long ago.this was the same card I have been using for 10 years.

Ohio
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9. Re: Minneapolis Banks-ATM related charges

pv4ever ~ This was our first time using the ATM in PV. We always brought travelers checks and our son kept telling us we needed to get with the times. So we opened a Bank of America account online and used both Scotia & Santander ATM's while in PV a few weeks ago with no fees. I will advise that if you have to open the account online to go ahead and get started. We have no BOA branches here and it took a little while for our funds to be available since they have to do trial deposits into the account you are transfering funds from. It was a royal pain for me with verifying those deposits.

Puerto Vallarta...
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10. Re: Minneapolis Banks-ATM related charges

Here's a link to the Global ATM Alliance banks. You can scroll down to BAnk of America to find a branch near you.

As Canadians, we opened an account with Bank of Noval Scotia just so we could withdraw from the Scotia here without fees. Not only do you save your home bank charge, you don't get charged the local fees which are between 20 and 25 pesos per transaction. The same is true for Bank of American. There are lots of Scotiabanks and ATM machines here in Vallarta and area.

scotiabank.com/ansma/…00.html

Obviously it's a cost benefit analysis. Not worth it to set up an account just for the odd trip.

Edited: 09 February 2011, 21:41