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CAPITAL ONE 360


Monessen

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I signed up for a Capital One 360 account and transferred some money from my B of A account into it. I tried using my new Capital One ATM card only to discover it was always being denied. I just got off of the phone and they told me it was denied because I do not live in the U.S. and they are unable to "do business" with someone living outside the U.S. (their policy). I used my Texas Handymail address but they recognized that as a post office box number (it is listed as an apartment so how they figured that out doesn't matter--it just is a fact). They are transferring my deposit back to the B of A. I pointed out that the B of A knows my situation and it has never been an issue for them (they will gladly take your money and bleed you to death with various fees). I think that the outcome might have been different if I told them I was on vacation here. At no time did I give them my Mexican address though I did notify them that I was in Mexico now so that I could use an ATM here.

 

Just a "heads up" from a sad user of B of A. Their fee just went up to $5.00 for every ATM use!

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Hmm...wondering if you had entered 'travel dates' online after you rec'd the card, that it might have worked here.  After all, they issued you the card with the TX address without questioning it.  I don't live in MX now (did, 2008-2012) and found it's best to do as much business online as you can, and not get involved with those pesky live 'help' people.  

Anyone using the 360 card with a TX mail drop address (i.e. Handy Mail)?

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Monessen Did you know that you don't have to pay any B of A fees if you meet certain minimum Total Account on deposit minimums?  All you need is NOW DON'T LAUGH   only $250,000 in your bank account, or that was the case until the last major crash when Merrill Lynch went bankrupt and B of A bought them out.

Now with only a few thousand in your bank account that is linked in name only to your retirement account that you happen to have in Merrill Lynch which happens to have a total of more than $250,000 you qualify for a market exchange rate, and no other major fees.  At least you did last January when I last wired money for free down to my Mexican brokerage account.

$250K, you say is a large amount. I agree, but I read that many to most American working couples have at least that much if not more in their retirement accounts  when they retire.

So if you happen to have your retirement account in a Merrill Lynch account, check out the benefits of loosely linking it to your B of A Bank account balance.

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I have 360 and no problem.  My address is my daughters.  I use Magic Jack when I call them so it shows a US number.  When I e mail them I use my VPN which also shows I am in the US.

This is not their doing.  Thank the congress that implemented new laws that created havoc for many of us a few years ago.  We were given 30 days notice that our US based accounts were being canceled.    Banks could not have us as clients if we lived outside the US.  They were held responsible.

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Thanks for the information Shira. Yet B of A continues to do business with me while charging (as of 15 August) $5.00 for every transaction. Since I cannot take more than 7,000 pesos from my B of A account per day it really adds up. I also use Magic Jack for my U.S. phone. I would like to have an alternative bank now and I wish that they had told me up front when I applied to Capital One 360. They issued the ATM card to my Texas address and they took my deposit. I told them that I was planning to direct deposit my three pensions into their bank and they didn't say anything. This time I was directed to a different department that had "security questions" to ask me and that was the beginning of the end. All in two weeks.

 

Johanson, though there was a time when I had $250,000 in my account (from the sale of a NOB house) it is only a dream now.   :010:

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Monessen. The problem is that often ones retirement account is paid by his/her former employer and could not be converted to cash and transferred to Merrill Lynch which is owned by B/A. I was lucky. My two retirement accounts, one already in Merrill Lynch and other, which was not, were combined and placed in Merrill Lynch. So I qualify for a while longer.

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Ask your retirement account  broker no matter what company holds it to open a BofA Merrill Lynch account in Mexico City with about $2500 US, get a debit card for the account and bypass the fees within Mexico and then set it up for internet transferring into the account as needed.

 

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13 hours ago, johanson said:

Monessen Did you know that you don't have to pay any B of A fees if you meet certain minimum Total Account on deposit minimums?  All you need is NOW DON'T LAUGH   only $250,000 in your bank account, or that was the case until the last major crash when Merrill Lynch went bankrupt and B of A bought them out.

Now with only a few thousand in your bank account that is linked in name only to your retirement account that you happen to have in Merrill Lynch which happens to have a total of more than $250,000 you qualify for a market exchange rate, and no other major fees.  At least you did last January when I last wired money for free down to my Mexican brokerage account.

$250K, you say is a large amount. I agree, but I read that many to most American working couples have at least that much if not more in their retirement accounts  when they retire.

So if you happen to have your retirement account in a Merrill Lynch account, check out the benefits of loosely linking it to your B of A Bank account balance.

I called BOA in June after getting nailed for really high ATM fees when we were traveling in Spain.  I asked about waiving foreign ATM fees for large bank deposits with them, without having an ML account (we don't have an ML acct.).  I was told there was no BOA policy to automatically waive foreign ATM fees based on the balance in BOA bank accounts.  However, the BOA rep put a temporary waiver on overseas ATM fees for us from June thru August, and suggested we call back prior to any overseas travel and ask for another temporary waiver.  

 

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Are you sure your U.S. Bank has established your ATM withdrawal limits in pesos, rather than dollars? My US bank has a dollar limit on my withdrawals, so the number of pesos I can withdraw fluctuates with the exchange rate. Or ask your US bank to increase your daily withdrawal to reduce the amount you are paying in international transaction fees.

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15 hours ago, Monessen said:

I signed up for a Capital One 360 account and transferred some money from my B of A account into it. I tried using my new Capital One ATM card only to discover it was always being denied. I just got off of the phone and they told me it was denied because I do not live in the U.S. and they are unable to "do business" with someone living outside the U.S. (their policy). I used my Texas Handymail address but they recognized that as a post office box number (it is listed as an apartment so how they figured that out doesn't matter--it just is a fact). They are transferring my deposit back to the B of A. I pointed out that the B of A knows my situation and it has never been an issue for them (they will gladly take your money and bleed you to death with various fees). I think that the outcome might have been different if I told them I was on vacation here. At no time did I give them my Mexican address though I did notify them that I was in Mexico now so that I could use an ATM here.

 

Just a "heads up" from a sad user of B of A. Their fee just went up to $5.00 for every ATM use!

When I signed up with Capital 360 I just told them that I travel alot.  I gave them my Handimail address; the card was sent there and I have used the debit card with no problem.  I was told in advance by some people who us Cap 360 to NOT tell them that I lived in Mexico full time.  Time will tell.

Buena suerte.

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2 hours ago, tycobb1020 said:

Schwab Bank!!!!

I second Schwab!  Been using them in Mexico for 4 years with no issues.  Even told them that I would be using the debit card exclusively in Mexico, no problem.  Nice to have a 1k daily withdraw limit which I can change at any time for construction projects in Mexico.

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6 hours ago, Jim Bowie said:

TYCOBB1020, I have both, and the 360 (MC) always gives better exchange rates. Nuff said.

Very good. My exchange rate with Schwab mirrors the current exchange rate. And I have never ever paid can ATM fee that was not immediately reimbursed anywhere worldwide. It's certainly an alternative if one is having challenges with other banks . . . my only point.

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I also have 360. There is a website where you enter you are traveling.

And if you use Allpoint ATM they are free. Banorte is in the allpoint system. There is one in Sorinana and also oxxo near malecon near the giant chapala sign. But that one only allows 3000 pesos at a time.

 

Also check with Boa they use to have a deal with santander bank

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Can anyone walk me through the Schwab bank info. I have gone to their website via google but I did that when I signed up for Capital One 360 and boy did I make a mistake. I know now also to NEVER say that I live in Mexico. I do wonder, however, if CO360 figured out that I was out of the country when they checked my Handy Mail address. I make it look as though I live in Texas but perhaps they checked it out when I signed up and realized that it was a post office box. They might have started to check this out with new applications since they did not before. I don't know. I cannot go back to them because their security department  "has my number", so to speak. I would REALLY be grateful for someone to just walk me through the Schwab process.

My State pension plan only pays me directly through a bank so no retirement account broker is an option. My Social Security is the same. My third pension is also from a school that does not involve an account broker for the retiree. All three instruments give direct deposit to an established bank account. Now I admit that I am not the brightest bulb in the box when it comes to money--but I have other "gifts".  

 

Thanks for the replies and the help.

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