Bisbee Gal Posted October 25, 2020 Report Share Posted October 25, 2020 7 minutes ago, Scott D said: Just to add to my woes, I tried to take 10,000 pesos out of the BBVA machine in the Ajijic square yesterday machine and after putting my card in and entering the amount the machine just said processing, processing, processing and making the sound of counting money for quite awhile but no cash came out. It finally gave me back my card but no cash or receipt. When I checked my Canadian account yesterday the Canadian equivalent had been withdrawn! I'll be down at BBVA first thing Monday morning to see if they'll give me my cash. Has this ever happened to anyone else? By the way, when I went by those machines later in the evening someone had put a handwritten sign on that machine saying it was not working. They won't give you the cash. They will tell you to straighten it out with your bank. But, watch your online banking info---I have seen my bank (Schwab) reverse it within a few minutes to a few hours, without my even calling them. fyi, Schwab refunds all ATM fees world-wide. I have lived here a total of 10 years, owned 2 homes, rehabbed and furnished both of them. Never have had a Mexican bank account. Never paid an ATM fee. 1 Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted October 25, 2020 Report Share Posted October 25, 2020 The local bank can do nothing. You need to contact the bank that issued your card. They will work it out. Quote Link to comment Share on other sites More sharing options...
Ferret Posted October 25, 2020 Report Share Posted October 25, 2020 This was my experience today... I took out money at the Multiva machines on October 24th. One machine cancelled my transaction and I turned to the other machine which did give me money. HOWEVER, upon checking my banking online today, I was debited TWICE for the same amount of money. I have a TD debit card. I called the "collect" number directly and was put through to a delightful young man named Kyle. He was able to deal with the problem from his end and I have the complaint number to quote IF the problem is not rectified (aka the money returned to my account) in 55 days. He said it is usually returned long before that. This is a first for me with an ATM screw up. Be warned to check your online banking when you've made a transaction and take steps immediately. Some banks send text info whenever a transaction occurs. Mine doesn't. Quote Link to comment Share on other sites More sharing options...
Scott D Posted October 25, 2020 Report Share Posted October 25, 2020 Thank you so much Ferret for your advice. I just called the number on the back of my Canadian ATM card and put in a claim. I'll let you know how I make out. Cheers, Scott Quote Link to comment Share on other sites More sharing options...
johanson Posted October 25, 2020 Report Share Posted October 25, 2020 It was problems with using ATM machines lakeside, (to include fees) much like those explained above that motivated me to open a bank account at Actinver. Yes, I know that many of you here would never open up a bank account outside the US. But I love being able to go to the bank and take out funds as as needed. I also get a better rate of exchange when it comes to converting US dollars to Mexican pesos than I did when using an ATM. Quote Link to comment Share on other sites More sharing options...
Ferret Posted October 25, 2020 Report Share Posted October 25, 2020 Pete, I was an Actinver (previously Lloyds) customer from 1996 to 2015. When it was Lloyds, I had NO problems. With Actinver HERE in Ajijic (I used them first in San Miguel de Allende and then in PV), I had multiple problems and finally closed the account. It was the only way to bank for most foreigners before the arrival of ATM's. I'm glad you're happy with them but I was not. Each to his/her own comfort level. On a different note... never had a problem with Telmex in the other locations either. Here? It sucks. Quote Link to comment Share on other sites More sharing options...
johanson Posted October 26, 2020 Report Share Posted October 26, 2020 I am sorry to hear that Ferret. I guess I am just lucky. It is sort of like that with my Telmex as well. On the street I live on, Telmex infinitum works well, but folks living one or so blocks away have slow service. Quote Link to comment Share on other sites More sharing options...
cedros Posted October 26, 2020 Report Share Posted October 26, 2020 On 10/25/2019 at 7:27 AM, tomgates said: The 5.5% markup at HSBC is new. Schwab will rebate the $68p ATM fee but not the markup. That markup effectively makes the 19.1 exchange rate more like 18.2. That 5.5% surcharge at HSBC has been there for over a year. Just decline it. No ATM fee when I use my HSBC debit card. Over 9 pesos when I use Bank of America card. Still the same ATM fee. Quote Link to comment Share on other sites More sharing options...
daisy2013 Posted October 26, 2020 Report Share Posted October 26, 2020 1 hour ago, cedros said: That 5.5% surcharge at HSBC has been there for over a year. Just decliene it. No ATM fee when I use my HSBC debit card. Over 9 pesos when I use Bank of America card. Still the same ATM fee. Do you have a HSBC debit card from here or USA Quote Link to comment Share on other sites More sharing options...
cedros Posted October 26, 2020 Report Share Posted October 26, 2020 3 minutes ago, daisy2013 said: Do you have a HSBC debit card from here or USA One from Canada and one from Mexico but I am getting rid of the latter shortly. Quote Link to comment Share on other sites More sharing options...
Ferret Posted October 31, 2020 Report Share Posted October 31, 2020 On 10/25/2020 at 11:18 AM, Ferret said: This was my experience today... I took out money at the Multiva machines on October 24th. One machine cancelled my transaction and I turned to the other machine which did give me money. HOWEVER, upon checking my banking online today, I was debited TWICE for the same amount of money. I have a TD debit card. I called the "collect" number directly and was put through to a delightful young man named Kyle. He was able to deal with the problem from his end and I have the complaint number to quote IF the problem is not rectified (aka the money returned to my account) in 55 days. He said it is usually returned long before that. This is a first for me with an ATM screw up. Be warned to check your online banking when you've made a transaction and take steps immediately. Some banks send text info whenever a transaction occurs. Mine doesn't. Just an update... money has been returned to my account. It is a good idea to check your online banking within 24 hours of using an ATM OR your credit card. The sooner you report screw ups the more likely they will be fixed promptly. I'm happy with TD Canada and have been using them since I was 28. Quote Link to comment Share on other sites More sharing options...
HoneyBee Posted October 31, 2020 Report Share Posted October 31, 2020 I get a phone message each time an amount is debited from my Bancomer (BBVA) account. (Did not know TD Canada has been around for that long, just kidding...☺️). 1 Quote Link to comment Share on other sites More sharing options...
Scott D Posted November 6, 2020 Report Share Posted November 6, 2020 good news update. TD Canada credited the money back to my account already! thx again ferret, calling that number on the back of the card is the thing to do. 1 Quote Link to comment Share on other sites More sharing options...
bdmowers Posted November 10, 2020 Report Share Posted November 10, 2020 On 10/24/2019 at 4:54 PM, artsnob said: CIBanco fills their atm machine Monday and Thursday mornings so I can get 9,000 pesos in those afternoon. Only 17 pesos Where is CIBanco? Quote Link to comment Share on other sites More sharing options...
slainte39 Posted November 10, 2020 Report Share Posted November 10, 2020 57 minutes ago, bdmowers said: Where is CIBanco? Centro Laguna Mall in San Antonio T......north end, across from Wings Army restaurant. Lot of parking if you are driving. Quote Link to comment Share on other sites More sharing options...
koshiboy Posted December 29, 2020 Report Share Posted December 29, 2020 CIBanco used to have the lowest ATM usage fee of any bank I've visited Lakeside (17.40 pesos), however, on December 14th, I was charged 29 pesos and at the end of this month it was up to 58 pesos. That's still competitive with other banks I've used, especially because I have hit withdrawal limits at ATMs at other banks. The only other bank I've used since mid-summer is Multiva, which charged me 96.28 pesos--the highest fee I've encountered here. Curious if anyone has updates on other locations. Quote Link to comment Share on other sites More sharing options...
cedros Posted December 29, 2020 Report Share Posted December 29, 2020 I don'tpay ATM fees at HSBC so shop around. Quote Link to comment Share on other sites More sharing options...
koshiboy Posted December 30, 2020 Report Share Posted December 30, 2020 The cost (and more) of providing cash through an ATM will be recovered by the owner of the ATM as well as the other intermediaries. The ATM fee is one of those recovery methods. In those cases where a fee is absent, or (and I have verified this with my Schwab account) refunded by your bank, you will find the exchange rate to be discounted in the bank's favor by a small amount. In the case of Schwab, I found that the discounted exchange rate would hurt me more than the ATM fee using another card unless I was withdrawing a very small amount, like $20. https://transferwise.com/gb/blog/atms-in-mexico Quote Link to comment Share on other sites More sharing options...
Bisbee Gal Posted December 30, 2020 Report Share Posted December 30, 2020 33 minutes ago, koshiboy said: The cost (and more) of providing cash through an ATM will be recovered by the owner of the ATM as well as the other intermediaries. The ATM fee is one of those recovery methods. In those cases where a fee is absent, or (and I have verified this with my Schwab account) refunded by your bank, you will find the exchange rate to be discounted in the bank's favor by a small amount. In the case of Schwab, I found that the discounted exchange rate would hurt me more than the ATM fee using another card unless I was withdrawing a very small amount, like $20. https://transferwise.com/gb/blog/atms-in-mexico Withdrew with Schwab yesterday. To determine the final exchange rate you need to account for Schwab refunding the 96.28 pesos later in month. Yesterday my rate with the Schwab card at Multiva was 19.93 taking the refund of the fee into account. If I didn't account for the refund of the fee, the exchange rate calculation would have been 19.53. Of course that's not the ultimate exchange rate, given the fee will be refunded later in month. Are you calculating the final exchange rate correctly?? Quote Link to comment Share on other sites More sharing options...
cedros Posted December 30, 2020 Report Share Posted December 30, 2020 On 10/31/2020 at 7:30 AM, HoneyBee said: I get a phone message each time an amount is debited from my Bancomer (BBVA) account. (Did not know TD Canada has been around for that long, just kidding...☺️). I get a text message on my phone when there is movement in my Candain bank account. Quote Link to comment Share on other sites More sharing options...
koshiboy Posted December 30, 2020 Report Share Posted December 30, 2020 1 hour ago, Bisbee Gal said: Withdrew with Schwab yesterday. To determine the final exchange rate you need to account for Schwab refunding the 96.28 pesos later in month. Yesterday my rate with the Schwab card at Multiva was 19.93 taking the refund of the fee into account. If I didn't account for the refund of the fee, the exchange rate calculation would have been 19.53. Of course that's not the ultimate exchange rate, given the fee will be refunded later in month. Are you calculating the final exchange rate correctly?? Yes. As the banks raise their fees, the amount you can withdraw and come out ahead v. using another card goes up, and it looks like you withdrew about 5,000 pesos. If debited to your US dollar account at the rate of 1 dollar to 19.53 pesos, you would pay $256.02. Using another card, I think the rate would only be discounted about 1% from the spot market rate. Both factors fluctuate during the day, but yesterday I think the discounted dollar value would have been about 19.74 pesos. If so, you'd have paid $253.29. So, you would be better off paying the ATM fee up to a fee of $2.73 (about 54 pesos? At what rate do they rebate the fee?). However, in my research, which may not reflect the current state of affairs, the gap between the Schwab card and my Capital One card was 2.7%, and you are reporting a smaller difference (about 2%?). Now that the banks are all raising their fees--no more 17.40 pesos at CIBanco 😢--it may be worthwhile giving Schwab another chance. Quote Link to comment Share on other sites More sharing options...
happyjillin Posted December 30, 2020 Report Share Posted December 30, 2020 Boy am I glad I don't use ATM'S or my Canadian VISA card here. I far prefer simplicity instead of all the messiness most of you seem to put up with to pay for things with your own money. 1 Quote Link to comment Share on other sites More sharing options...
RVGRINGO Posted December 30, 2020 Report Share Posted December 30, 2020 Suffering from affluenza seems to be rather painless, when compared to pandemics of other ailments these days. 1 Quote Link to comment Share on other sites More sharing options...
cedros Posted January 2, 2021 Report Share Posted January 2, 2021 On 12/30/2020 at 10:23 AM, koshiboy said: The cost (and more) of providing cash through an ATM will be recovered by the owner of the ATM as well as the other intermediaries. The ATM fee is one of those recovery methods. In those cases where a fee is absent, or (and I have verified this with my Schwab account) refunded by your bank, you will find the exchange rate to be discounted in the bank's favor by a small amount. In the case of Schwab, I found that the discounted exchange rate would hurt me more than the ATM fee using another card unless I was withdrawing a very small amount, like $20. https://transferwise.com/gb/blog/atms-in-mexico The cost (and more) of providing cash through an ATM will be recovered by the owner of the ATM as well as the other intermediaries. The ATM fee is one of those recovery methods. In those cases where a fee is absent, or (and I have verified this with my Schwab account) refunded by your bank, you will find the exchange rate to be discounted in the bank's favor by a small amount-not true in my case Quote Link to comment Share on other sites More sharing options...
koshiboy Posted January 11, 2021 Report Share Posted January 11, 2021 On 1/1/2021 at 6:18 PM, cedros said: The cost (and more) of providing cash through an ATM will be recovered by the owner of the ATM as well as the other intermediaries. The ATM fee is one of those recovery methods. In those cases where a fee is absent, or (and I have verified this with my Schwab account) refunded by your bank, you will find the exchange rate to be discounted in the bank's favor by a small amount-not true in my case How and why is it not true? And what part of it is not true? Please provide a real-world example. Quote Link to comment Share on other sites More sharing options...
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