More Liana Posted May 31, 2017 Report Share Posted May 31, 2017 Yesterday I spent quite a while on the telephone talking with a Bank of America representative in Texas. He informed me that Scotiabank is once again part of BofA's Global Alliance. He said that means that when you make an ATM withdrawal at Scotiabank from your BofA account, BofA no longer charges the $5.00USD fee for using a non-BofA ATM. I tried it this morning. He's right: no $5.00 charge. $5.00 isn't much, but hey... Maybe I'm the last person here to learn this, but if anyone else is slower than I am, you'll be glad to know that it works. Santander, of course, is no longer part of the BofA Global Alliance and BofA DOES charge the $5.00 fee for withdrawing funds from their ATMs. This in no way affects the 3% foreign transaction fee charged by BofA on any ATM withdrawal made in Mexico. They still sock you with that. Link to comment Share on other sites More sharing options...
Wookie Posted May 31, 2017 Report Share Posted May 31, 2017 Thanks for this information, More Liana. I am slower than you so this helped Link to comment Share on other sites More sharing options...
johanson Posted May 31, 2017 Report Share Posted May 31, 2017 Hey, More Liana, it's possible to not be charged the 3%. All you need is at least $250,000 or $300,000 US in your bank account. If you have that much there is no charge. Now who the heck as $300,000 in their bank account, I'm lucky to have $30,000. But here is the catch, when Merrill Lynch almost went bankrupt, it was B of A who bought them out, And you can link your Merrill Lynch account to your B of A account, many more folks meet that limit. Luckily my retirement account is with Merrill Lynch and when I use my B/A debit card with a Scotia Bank ATM I am not charged that 3%. Sadly when the B/A account put chips in my debit card, it worked great in the US but not at the local Scotia Bank ATM near Walmart lakeside. Maybe now with this new alliance it will work again. I sure hope so. Thanks for your information Link to comment Share on other sites More sharing options...
michael2595 Posted May 31, 2017 Report Share Posted May 31, 2017 Is there a daily limit of how much money one can take out from a lakeside ATM? Link to comment Share on other sites More sharing options...
TelsZ4 Posted May 31, 2017 Report Share Posted May 31, 2017 43 minutes ago, michael2595 said: Is there a daily limit of how much money one can take out from a lakeside ATM? Ask your own bank what your limit is.. I've taken as much as $25,000 peso out in multiple transactions. Link to comment Share on other sites More sharing options...
More Liana Posted June 1, 2017 Author Report Share Posted June 1, 2017 6 hours ago, michael2595 said: Is there a daily limit of how much money one can take out from a lakeside ATM? As TelsZ4 said, your bank "back home" has set your daily limit. If you need a higher limit, ask your bank to raise it. The banks here set their own per-withdrawal limits for their ATMs. As TelsZ4 said, you can withdraw from a Mexican bank's ATM as many times in succession as you like, until you reach your personal daily limit set by your own bank. Link to comment Share on other sites More sharing options...
Floradude Posted June 2, 2017 Report Share Posted June 2, 2017 Scotia Bank and Intercam Bank also now have an agreement. You can use the Scotia Bank ATM and make a withdrawal with your Intercam Debit card. No charge..... well yes and no. I had a small charge to my Intercam account when I tried it. Checking with Intercam I learned that towards the end of the process of with the Scotia ATM there is a question in Spanish asking if you want insurance (??). If you answer 'yes' you will have a charge. First time I have ever used an Scotia Bank machine and I was a little surprised when I was told to put my card in sideways. Link to comment Share on other sites More sharing options...
ned small Posted June 2, 2017 Report Share Posted June 2, 2017 48 minutes ago, Floradude said: Scotia Bank and Intercam Bank also now have an agreement. You can use the Scotia Bank ATM and make a withdrawal with your Intercam Debit card. No charge..... well yes and no. I had a small charge to my Intercam account when I tried it. Checking with Intercam I learned that towards the end of the process of with the Scotia ATM there is a question in Spanish asking if you want insurance (??). If you answer 'yes' you will have a charge. First time I have ever used an Scotia Bank machine and I was a little surprised when I was told to put my card in sideways. So the "new improved" machine is still a grabber then. That's the reason a bunch of us Scotia customers opened accounts with Intercam. Get our money from the teller and there is a machine too which is push pull. As to daily limits set by your bank as somebody said . Your bank does this based on instructions from you. If you don't instruct them, Scotia sets it at 4000pesos so if you want 10k for example tell them and that's what they'll set. Link to comment Share on other sites More sharing options...
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