Change in use of Bank of America cards in ScotiaBank ATMs

[jontul]

For 5 years I have successfully used my Bank of America debit card to withdraw money from ScotiaBank ATMs throughout Peru (and elsewhere) without fees. This is a result of their Global Partnership. However, my recently updated ATM card from BoA contains new microchip technology that ScotiaBank ATMs can't recognize. Therefore, the BoA ATM card can no longer be used here at ScotiaBank ATMs. The machine simply kicks the card out upon entering of the PIN. I just spent 1 1/2 hours on the phone with BoA and they tell me this was an unexpected consequence of the new technology and nothing can be done. I just wanted to warn any BoA account holder that your next ATM card from there will not work as the previous ones have. It will only be useful as a credit card rather than at ATMs.

[Udo]

This is very bad news as for many us the atm card is the lifeline. I just opened a BoA account a month ago, tried it this afternoon at a Scotia Bank atm, and, sure enough, it spit the card out. The card also didn't function on a BCP atm. Does anyone else have similar experiences, or a workaround?

[danjaker]

I have an account with boa, a new card too, I can use it with all atms, no problems.

[jontul]

BoA reps have told me all cards issued starting in December 2014 have the new chip technology. May I ask when your new card was issued, and which bank's ATM worked for you? They want me to provide as much info as possible to them while they're troubleshooting the issue.

[danjaker]

Ah ok, I replaced the card a little before that, maybe August or September.

[Udo]

Yep, got mine in December when I was home for the holidays in Reno. Now back in Peru, I'm fooked.

[jontul]

UPDATE: New Bank of America ATM cards (having a newly designed security microchip) issued during and after December 2014 will work in GlobalNet ATMs. I found no other bank's ATM machines that will accept the card. The fee for each withdrawal is $5.50 per every $100 withdrawn. You will immediately see this fee shown on your Bank of America account. The free ride we'd had with ScotiaBank ATMs is over for holders of the new cards.

[bmelloni]

I did a lot of research, and there is quite a fee for *all* Bank of America (and virtually all other banks) international transactions - typically 4-5%.

But... you are not out of luck. Look for a Travel Rewards Visa card (BoA has one) and check the details to make sure that they are free from foreign transaction fees. But make sure to keep the receipts and always check your credit card statements line by line, it is not rare for Peruvian companies to try to get "creative" with credit card transactions.

As for cash... everybody is just as annoyed by foreign transaction fees, so just find someone (i.e.: friend or relative) who needs money in the US and do an ACH transfer from your US account to his US account, and he can give you cash here. Bingo, bank shenanigans are bypassed.

[teamoperu]

UPDATE: New Bank of America ATM cards (having a newly designed security microchip) issued during and after December 2014 will work in GlobalNet ATMs. I found no other bank's ATM machines that will accept the card. The fee for each withdrawal is $5.50 per every $100 withdrawn. You will immediately see this fee shown on your Bank of America account. The free ride we'd had with ScotiaBank ATMs is over for holders of the new cards.

I suspect it is because the GlobalNet ATMs can use the chip technology, the ScotiaBank ATMs cannot... yet. Hopefully they will update eventually. Scotia machines can and do read the mag strip if present, but (now) cannot successfully process the transaction. This problem has been noted by Scotia and is working to resolve it. Stay tuned.

Altho using the GlobalNet machines is a temp solution, they really hit you with the fee and small daily limit... and then likely your bank will hit you up also.

All (almost all?) credit cards and debit cards hit you with a hidden 2.5% on the transaction exchange rate.

[jontul]

Bank of America has decided to issue me an ATM-only card in addition to my Debit card. They report the ATM card has no microchip and should work in all ATMs here in Peru, including ScotiaBank's. Unfortunately, they've shipped the card to my US address, so I will have to pay DHL to deliver it here to Lima, but I suppose it will be worth it in the end.

[teamoperu]

Bank of America has decided to issue me an ATM-only card in addition to my Debit card. They report the ATM card has no microchip and should work in all ATMs here in Peru, including ScotiaBank's. Unfortunately, they've shipped the card to my US address, so I will have to pay DHL to deliver it here to Lima, but I suppose it will be worth it in the end.

They key phrase is "it should"... my Scotia card should be working, but it doesn't.

[clewis564]

I just called BOA here in the US and the person told me I can't get a ATM card without a chip because all the new cards issued have it.

[jontul]

It seems that Rep was confused by terminology. There are no new "Debit" cards w/out the newest microchip; Debit cards are those that can be used for in-store purchases, or used online, as well as at US ATMs.

The alternative is a BoA "ATM" card. It''s not distributed very often nowadays, as most customers want a full-service Debit card, and the Rep may not have even known such a thing still exists. I can attest that it does, though, as they've just sent one to my US address where my sister confirms it has no chip. I'm waiting on courier delivery here in Peru from the US, and I'll then report if the ATM-only card works in ScotiaBank and other ATMs as BoA has promised.

[teamoperu]

Hmm Maybe things they are a changing. Was able to use my foreign Scotia account debit (with visa chip) card today at a Scotia ATM. (My foreign card finally called and admitted there was a problem and was working for a solution.) So it worked, no visible fees charged.

Of course the hidden charge is always there on all cards. With the dollar rate changing so rapidly and delays in updating systems, hard to nail down with one transaction but this time it was 1.8% more than mid-range Forex rates, which I never get, so pretty good.

[Udo]

Same here, teamoperu. Hope our luck continues.

[jontul]

My experience here relates only the use of BoA Debit and ATM cards, which, when working correctly and used at a ScotiaBank ATM, have not yet begun to initiate charges from either BoA or ScotiaBank. My BoA account is in USD and I withdraw from ScotiaBank ATMs in USD.

I can't speak to fees and charges when using similar cards from other banks.

[teamoperu]

My experience here relates only the use of BoA Debit and ATM cards, which, when working correctly and used at a ScotiaBank ATM, have not yet begun to initiate charges from either BoA or ScotiaBank. My BoA account is in USD and I withdraw from ScotiaBank ATMs in USD.

I can't speak to fees and charges when using similar cards from other banks.

Yes, but you were using the Scotia system, which was having trouble and maybe they have fixed, maybe not, but if your card has mag strip and chip it might work now?

Note my debit card asks if I want too access Debit or Visa Plus. It never used to before.

[amigorick]

I just used my Capital One 360 ATM card at the ScotiaBank in Iquitos. For years never paid a fee to Scotia but they zapped me with S/.15 service charge yesterday. Got to find another bank or card.

[TonyLeslie]

I also went through the same drastic increase in fees with my new micrchip Visa Card (operating via an Australian Bank) at the Scotiabank ATM's. I changed to the Banco De La Nacion Redibank ATM and at the moment, it is still only charging the old fees. Prior to the new charges coming into play, Scotia and BdlN were both charging the same fees, which I had found out the hard way, were cheaper than most other brand ATM's.