jontul wrote: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 The fee for each withdrawal is $5.50 per every $100 withdrawn.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.