ATM fee increase?

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Chiclayo gringo
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ATM fee increase?

Postby Chiclayo gringo » Thu Sep 03, 2015 9:32 am

For many years the ATM I use in Chiclayo has charged $2.00 per transaction. Yesterday the charge was $5.50. Several other ATMs I checked were also at $5.50. Is this situation unique to me and my card or has $5.50 become the new standard fee?


Alpineprince
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Re: ATM fee increase?

Postby Alpineprince » Thu Sep 03, 2015 11:39 am

Here in Lima I pay $5-5.50, depending on the bank.
ironchefchris
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Re: ATM fee increase?

Postby ironchefchris » Thu Sep 03, 2015 11:51 am

Check out Charles Schwab Bank. They refund all ATM fees no matter where in the world you withdraw cash. I've never seen a fee on my account that needed to be refunded.
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Alan
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Re: ATM fee increase?

Postby Alan » Thu Sep 03, 2015 11:58 am

Hey there!

Further to the above question, I am curious about how much money you are permitted to withdraw per transaction? Has this changed in recent years? Does it vary per bank?

Alan
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Re: ATM fee increase?

Postby Alpineprince » Thu Sep 03, 2015 3:01 pm

In BCP and Continental it is $200.00 USD and S/.700. I forget if they have that "another amount" button or not. :oops:
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Alan
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Re: ATM fee increase?

Postby Alan » Thu Sep 03, 2015 3:13 pm

That's been my experience, too. I remember not too long ago that withdrawals of up to $500 were permitted.
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Re: ATM fee increase?

Postby vivaperusurf » Fri Sep 04, 2015 7:05 pm

ironchefchris wrote:Check out Charles Schwab Bank. They refund all ATM fees no matter where in the world you withdraw cash. I've never seen a fee on my account that needed to be refunded.


Best suggestion, get a bank that will not charge, or reverse the charges, or these fees will kill you. I once had this bank that not only charged a big withdraw fee but also a currency conversion fee. Look at your statements carefully. Stupid banks and their fees!

The max depends on the bank here in Peru, some allow more than others. I also found sometimes it depended on the ATM itself.

They put a max for a reason, to protect you as a consumer, so be happy for this.

Too much cloning of cards and fraud.

Be very careful when and where you use your card. Also be very aware of your surroundings when withdrawing, as many people can be "marking" you as an assult/robbery target.

That said I once found a bank with a loophole where I could withdraw the max from one atm, then go to anther atm of a different bank and also withdraw the max, like the bank didn't have a good way to keep track of intl transactions. I would not suggest trying this unless you want to get in trouble with your bank and violate some stupid policy they have. :twisted:
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Re: ATM fee increase?

Postby Sergio Bernales » Sun Sep 06, 2015 12:42 pm

If you're coming from the UK and plan on withdrawing money from a UK bank or building society, there are a few places that offer debit and credit fee-free cards on foreign transactions. For debit cards the best I've come across is Norwich and Peterborough building society. And for credit cards, the best ones are the Halifax clarity/classic and the Post Office. The exchange rates are pretty good too.

http://www.nandp.co.uk/current-account/

http://www.postoffice.co.uk/credit-card ... ard-abroad

http://www.halifax.co.uk/creditcards/clarity-card/
chante
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Re: ATM fee increase?

Postby chante » Tue Sep 22, 2015 5:47 pm

What is the best option for Canadians? Not only is our dollar tanking, but the fees are eating a big part of our funds as well. Charles Schwarb is for US citizens, i haven't found a bank in Canada that will refund ATM fees.
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Re: ATM fee increase?

Postby teamoperu » Sat Sep 26, 2015 3:50 pm

Alan wrote:That's been my experience, too. I remember not too long ago that withdrawals of up to $500 were permitted.


Yeah, Alan, part of the changes when they went to chip. Of course you can go into some banks and do a manual transaction for more $$ than ATM limit. As well, with currency rate rapid changes sometimes can get 500 soles, sometimes only 400. And Sundays might be different too? All because the ATM has a dollar daily limit, not soles. And Scotia Peru will blame the card limit, not true, it is the Scotia Peru ATM limit, originating country card limit is much greater.

Bright side, I too have taken the daily limit twice in one day (in different cities). I want to try some other options, but am a bit nervous the machine will eat my card.

Chante, have you tried ScotiaBank? My account has no fees and the Scotia ATM doesn't add a fee (using in other company ATMs does).

Also, no ATM card will give you the exact rate without skimming off the top, you just do not see it. In fairness, if you are not doing bulk $$ not likely you can get the best rate. But for fun, use this site to see what the difference. It uses mid-range (mid between high and low) so it is an imaginary number. http://www.xe.com/creditcard-charges-calculator/

Also I find best to use my MC world card (with no fees) at places like Plaza Vea and Metro because they are slow at doing the rate changes. Meaning I get a better currency exchange than withdrawing soles from the bank and paying them cash. Sometimes a negative rate, meaning they are paying me over the current rate :)

Nevertheless, the Cdn $ crash sucs.
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Chip ATM in Lima

Postby micmore » Sat Oct 10, 2015 7:41 pm

Hi, do you know which are the banks in Lima that have the ATM that reads the chip?
My card has the magnetic strip that doesn't work and I can't take the money from the ATM. It will be a big problem for me..

Thank you for your help!!
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Re: ATM fee increase?

Postby teamoperu » Tue Oct 13, 2015 6:33 am

Playing around have been able to go over the daily limit by using different Scotia ATMs
alongwayfromgeorgia
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Re: ATM fee increase?

Postby alongwayfromgeorgia » Tue Oct 27, 2015 11:29 am

I agree about Charles Schwab. We've used them for almost three years and they always reimburse any ATM fees. Their customer service is amazing as well.
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Re: ATM fee increase?

Postby RICHARDandNORA » Tue Oct 27, 2015 5:47 pm

I usually withdraw $300 per event at Scotia Bank and have for years.
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Re: ATM fee increase?

Postby teamoperu » Wed Oct 28, 2015 9:13 am

Oh. OK, how do you do that now? It is not an option for more than S/.500. Multitransactions?
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Re: ATM fee increase?

Postby guerinto » Mon Nov 02, 2015 11:07 pm

Put the card in, withdraw 500 soles and get card and receipt. Repeat again at same machine. I don't pay per transaction withdrawal fees with my account type, so it is not a problem. I did this for 6 months, mostly at the Scotiabank on Larco across from Kennedy Park near Ernesto Diez Canseco.

I now have a chip card - has anyone had problems with the chip debit card? I used it in Santo Domingo, Domican Republic so I am hoping it works in Miraflores.

If anyone can confirm, that would be nice.
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Re: ATM fee increase?

Postby Polaron » Tue Nov 03, 2015 7:41 pm

I have USAA and withdraw the maximum allowed at BCP (S/. 700 twice per day). Yes, the bank does charge me S/. 13.50 a pop, but USAA refunds up to $15 per month on those ATM fees. This means that I pay out of my pocket only for the fourth monthly withdrawal on. A friend of mine has Scotiabank and never pays a fee, according to him, so I am going to check that out. Ditto with Schwab.
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Re: ATM fee increase?

Postby Polaron » Wed Nov 25, 2015 5:03 pm

As promised, I checked out Scotiabank (locally). I am going tomorrow to see if the information I was given was accurate. A Scotiabank sservice representative in their contact center - 01-311-6000 - informed me that you CAN open a cuenta FREE with just a passport. When I'm at the branch, I'll check on the price of interbank transfers from the USA, if I don't space it out. Will keep you all informed. By the way, the Cuenta FREE of Scotiabank allows two free teller-assisted withdrawals per month and unlimited ATM withdrawals from their machines. Here is a link to the FAQ page about Cuenta FREE: http://www.scotiabank.com.pe/Personas/Ahorros/Cuentas-Bancarias/cuenta-free
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Re: ATM fee increase?

Postby Polaron » Thu Nov 26, 2015 7:50 pm

I now introduce you to Miss Information.

Somebody gave me incorrect information, as I went to a branch of Scotiabank and the "service representative" there nonchalantly told me that a bank account could be opened only with a carnet de extranjeria or DNI. That is in line with other banks' practices here, so it looks like the call center rep gave me bad information. I am not surprised at this; that is why I went to verify. Sorry that I don't have better news to report.
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