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Capitol One 360 ATMs To Use


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Someone with this exact experience will probably answer, but....

Does not Capital One 'reimburse' your ATM charges or is it that CIBanco, when using a Capital One debit card, just does NOT charge any fees?  

I though it was the former. And if so, 'any' bank's ATM charges will be reimbursed by Capital One. Now CIBanco's fees were less to begin with than say HSBC, but that is probably not what you are asking about.

Similar to Capital One, my Credit Union's ATM charges are reimbursed no matter which ATM I use.

 

 

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We use Capital One 360 at HSBC, generally at the branch near Steren in San Antonio. We always withdraw $10,000 MXN (roughly $500 USD ... sorta) because (1) we don't want to go to an ATM all the time, (2) it's a round number, so auditing is easier, and (3) I'm satisfied with their policy and math. But I still check.

CapOne doesn't impose any ATM or Foreign Transaction fees of their own, but they don't refund HSBC's ATM fee. Naturally, we always decline HSBC's exchange rate on the last screen.

CapOne converts at the "daily rate," which fluctuates during the day. It's loosely auditable, but I don't log time-of-day, only date.

Here are four recent ATM withdrawals and their details (blue values are from my CapOne statement):

  MXN USD Calculated
Rate
Yahoo
Rate
ATM
Fee
Net
Effective Rate
  Withdrawal
Net Cost
3/25 10,000.00 541.46 18.47 ~= 4.41 18.32   0.8145%
3/14 10,000.00 537.79 18.59 ~= 4.38 18.44   0.8144%
3/1 10,000.00 553.18 18.08 ~= 4.50 17.93   0.8135%
2/6 10,000.00 529.38 18.89 ~= 4.31 18.74   0.8142%

The USD column is CapOne's converted value, the ATM Fee column is what CapOne reports I paid HSBC, and the two together are what was debited from my CapOne account.

The Calculated Rate is MXN ÷ USD. From time-to-time I compare this to Yahoo Finance's historical rate chart. Yahoo only has Open, High, Low, Close. My Calculated Rate is never exactly one of these (again, time of day matters) but it's close, and it tracks. I'm satisfied there's no game-playing.

Net Effective Rate is MXN / (USD + ATM Fee). It serves as my alarm. If this number falls out of line, something changed, and I'll investigate. Trust me, this model could be 10x more sophisticated. But there's no need.

So, to simplify, what's it cost me to withdraw about 500 bucks? About $4, or roughly 0.81%. I consider this reasonable, all things considered, and won't sweat it further.

ps. Important: This is for $10,000 MXN withdrawals. If $2,000 is more your speed, you'll likely pay more, and definitely not less.

LQ

 

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1 minute ago, Mainecoons said:

do you use only HSBC?

Right now, only HSBC. I may compare some others against it later, but I stopped shopping around once I found a good deal. Honestly I'm not too motivated to hunt for, what, a $1 savings somewhere else, every two weeks or so? Not worth it, and may not exist.

10 minutes ago, Mainecoons said:

Is $10,000 pesos the limit?

Can't say. The largest enumerated amount is $7,000, then "Other amount." Haven't pushed it past $10k.

On a Sunday or holiday, it might refuse $10k. I've seen $6,000 limit, all in 200s -- but it's always because the machine has run low. There are three machines.

LQ

 

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1 hour ago, Lou Quillio said:

Right now, only HSBC. I may compare some others against it later, but I stopped shopping around once I found a good deal. Honestly I'm not too motivated to hunt for, what, a $1 savings somewhere else, every two weeks or so? Not worth it, and may not exist.

Can't say. The largest enumerated amount is $7,000, then "Other amount." Haven't pushed it past $10k.

On a Sunday or holiday, it might refuse $10k. I've seen $6,000 limit, all in 200s -- but it's always because the machine has run low. There are three machines.

LQ

 

The limit per transaction at HSBC $15,000.

I usually get that and it is almost always in all $500 notes, but occasionally they give a thousand or two in smaller bills.

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Capital One does not reimburse ATM fees.  They only allow you free ATM transactions if the particular bank is within their All Points system or something like that.

 

Is Banorte and Santender in their system, or do you have to pay ATM fees for Capital one with them. 

 

About 11 years ago, Bank of America allowed free ATM use of Scotiabank, Santender and Banorte.  About 6 months after I got down here, B of A pulled the plug on that.

That is when I switched to Capital One 360 and never looked back.  Unfortunately, the pool of ATMs available within their system has shrunk.  I used to go to the casino ATMS in the same plaza.  Then that became unreliable and they pulled the use of that .  So, I have been stuck with CI Banco as the only ones not charging an ATM fee for CAptial one.

CI Banco reliabilty of ATM money is extremely aggravating !  Glad we are retired to have time to waste !   Climate is great though, isn't it ???

  

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1 hour ago, mexijims1 said:

Capital One does not reimburse ATM fees.  They only allow you free ATM transactions if the particular bank is within their All Points system or something like that.

 

Is Banorte and Santender in their system, or do you have to pay ATM fees for Capital one with them. 

 

About 11 years ago, Bank of America allowed free ATM use of Scotiabank, Santender and Banorte.  About 6 months after I got down here, B of A pulled the plug on that.

That is when I switched to Capital One 360 and never looked back.  Unfortunately, the pool of ATMs available within their system has shrunk.  I used to go to the casino ATMS in the same plaza.  Then that became unreliable and they pulled the use of that .  So, I have been stuck with CI Banco as the only ones not charging an ATM fee for CAptial one.

CI Banco reliabilty of ATM money is extremely aggravating !  Glad we are retired to have time to waste !   Climate is great though, isn't it ???

  

CI Banco is charging an ATM fee for Capital One 360.  I went and looked at the statement.  For a 15,000 peso withdrawal the fee charged is $3.41 U.S.  It appears HSBC is about a buck higher but if it is more reliable it is well worth it.

 

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However, I thought CI Banco has always charged for an ATM transaction fee , no matter which debit card you use.   But, Capital One still does not charge us, correct? I just don't want to get charged by each bank ( at both ends).   The exchange rate hit hurts enough after we were used to a steady 20:1 for so long. 

Sounds like HSBC is more reliable for having its ATMs from running empty.  You never know with CI banco -- so hit or miss.

Banks suck, they just vary by degrees ( just like insurance companies)  !!!   

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I look at ATMs in banks Lakeside in another light. They provide me with a so-far safe 'vehicle' to withdraw monies from my US bank 2,000 miles away. I don't have to pony up any of my funds into that bank for that 'service'. Since I don't invest any monies in their bank, I'm OK with paying them a few bucks once in a while for providing me with this opportunity. 

I'm also not going to complain about an 18.5 peso exchange rate as I can remember when it was 9 to 1.  Inflation sucks no matter what side of the border one sits on. 

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3 hours ago, Mainecoons said:

CI Banco is charging an ATM fee ... 15,000 peso ... $3.41 U.S.

Good to know; thanks. I was going to test them, but now probably won't bother.

WRT the "big bills" challenge, my approach has evolved. I pass 500s at every possible chance, and there are more chances than I once assumed. I just avoid doing so early in the business day (no clerk likes that), and show the 500 with an Está bien? If there's any resistance at all, we'll try something else.

But I find that the key is to let those 100s, 50s and 20s received as cambio build up till I've got a good stash, and not to feel so obliged to always pay with the smallest bills. Was probably too cautious before.

And the definition of a "big bill" isn't static. Heck, ATMs in the States dispense 50s these days.

LQ

 

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1 hour ago, RickS said:

I look at ATMs in banks Lakeside in another light. They provide me with a so-far safe 'vehicle' to withdraw monies from my US bank 2,000 miles away. I don't have to pony up any of my funds into that bank for that 'service'. Since I don't invest any monies in their bank, I'm OK with paying them a few bucks once in a while for providing me with this opportunity. 

I'm also not going to complain about an 18.5 peso exchange rate as I can remember when it was 9 to 1.  Inflation sucks no matter what side of the border one sits on. 

Amen to that Rick! I remember when there were no ATM's in Mexico and I also remember getting 5.5 pesos to a Canadian dollar.  Having to pay a small fee for the convenience and ease of getting money? Pfffftttttt!

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10 hours ago, Ferret said:

Amen to that Rick! I remember when there were no ATM's in Mexico and I also remember getting 5.5 pesos to a Canadian dollar.  Having to pay a small fee for the convenience and ease of getting money? Pfffftttttt!

Yeah.  And carrying a stack of travelers checks and standing in line half a day at a bank to get cash for them.

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...and the exchange rate on Travelers Checks sucked...of course we did not use that term back then! 

Today with ATMs we get the best rate available for a paultry fee and I don't have to carry around 1,000's of dollars worth of Travelers Checks on my person. I'm happy.

 

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On 3/29/2023 at 10:19 PM, Ferret said:

Amen to that Rick! I remember when there were no ATM's in Mexico and I also remember getting 5.5 pesos to a Canadian dollar.  Having to pay a small fee for the convenience and ease of getting money? Pfffftttttt!

Or standing in line at the Casa de Cambio in Ajijic hoping they didn't run out of money before your turn. And in PV comparing the different rates at the various casas before deciding where to exchange your dollars. The ones further away from Old Town had a better rate just like gas stations a mile or so from the Interstates.

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9 hours ago, pappysmarket said:

Or standing in line at the Casa de Cambio in Ajijic....

Some of us go way back, eh Pappy.  The one I remember was on Colon across from where the yellow taxis now park. It was about 4' wide and one basically stood on the sidewalk or up one step to the window. 

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14 hours ago, RickS said:

Some of us go way back, eh Pappy.  The one I remember was on Colon across from where the yellow taxis now park. It was about 4' wide and one basically stood on the sidewalk or up one step to the window. 

That was the one and only. When we were doing the remodel on the home that was to become Casa Flores I had a payroll of around $15,000 pesos to meet every Saturday afternoon. I had arranged to use a personal check each week but I had to stop in on Thursday and tell them how much I would be needing. Many a Saturday would find them telling me to come back in an hour or so when they thought the money would be there. They always made good but some weeks were easier than others. So at 9 to 1 you can picture how many pesos I ended up with to stuff into a plastic bag and then walk back up Colon onto Zaragoza hoping nobody would notice this bag of money. Looking back I wonder if I would do that again. And no $500 pesos notes since the workers said they couldn't spend them, which was kinda true back then. Getting the maestro to write up the list of names, hours and pay every Saturday morning was another case of pulling teeth before I could even write the check. Getting approved to use a check back then was a big deal.

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On 3/30/2023 at 3:42 PM, Mainecoons said:

Went over to HSBC no problem getting 15K Pesos.

Confirmed: the combination of CapOne 360 and the HSBC ATM near Centro Laguna "mall" gave me $15,000 yesterday, for the same ATM fee as $10,000 (~$4.50 USD). Since it was Friday, I had to try a second machine (of the three).

Only 500s at $15,000. At $10,000 I'll get maybe $2,000 in 200s and a sprinkling of smaller bills. I believe the machine in Walmart gives smaller bills routinely, which makes sense.

Stock up for semana santa, y'all. ATMs will empty as soon as they're filled.

LQ

 

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