ATM fees info

[Diskosis]

I just noticed a similar thread has gone up, but my question is more specific. I too have an Australian bank account and use my Debit Card to access funds from ATMs here. My account is a 'Gold' account which is supposed to mean I do not get charged fees for withdrawing money from oversees ATMs.

I've been having a long email back-and-forth with the robot-humans at the bank who now have agreed to refund all the ATM fees I have been charged here in Argentina, as long as I list the transactions in which I was charged fees. I've been here for years so this will go back a long time. Problem - the transaction fees don't come up as separate amounts on the statement, they are just added to the withdrawal amount.

My question is: Does anyone know exactly when these fees were introduced? I seem to remember it being about 18 months ago, but if the bastards at the bank are going to make me figure it all out for myself, I'll need to be precise with the dates.

If anyone can tell me the exact date that these fees started, I would greatly appreciate it.

 

[sesamosinsal]

I can't find anything exactly. I know it was implemented sometime between January 09 and August 09.

What I would recommend is using this USD/ARS chart. (Not sure if it will show up) and do the math. (Oops, here is AUD/ARS)

For example, this morning, I withdrew $1000 ARS. My bank says that I withdrew $255.87 USD.

Thus, 255.87*3.9755 = 1017.21

I actually withdrew $1016.00, that $16 pesos being the "access charge." (The actual exchange rate would have been 3.971-sh)

The 3.9755 was the market rate reported at 7:08 EST. Usually, ATMs give you something around that rate.

Given that this fee has always been something like $12-$16 pesos, you should be able to tell which transactions of yours have it attached to it by multiplying the total amount withdrawn by the exchange rate for that given day.

 

[BA Barrio Busquador]

May I enquire as to which bank you have your gold card with? ~!@#ing ANZ charge me $5 plus a ~!@#ing conversion fee!!!

 

[Johnno]

I have Bankwest - any of you using a Bankwest debit card down there ? I've just applied for a debit card for each of my accounts and will probably rely on using the ATM machines only when I have to and the rest of the time use online banking to transfer funds to my credit card and then use it for purchases - make sense ?

 

[BA Barrio Busquador]

Johhno I don't know if this is of any use to you as you will be staying in Argentina but ANZ (and probably other banks) issue those Visa Travel Cards in USD. My daughter just got one - you buy the card for $11AUD and then are charged $2 when you take cash out of an ATM (suppose too you get hit for the Argentina ATM fee...?). The exchange rate of the day was about 1AUD = .97cents and she got an exchange rate of 96cents.

You then get the exchange rate of the day I suppose when you take out pesos in Argentina.

It's all doin' me 'ead in really.

 

[Johnno]

Thanks mate - I'm already looking at putting a large chunk of my money onto one of those cards - at least I think its the same thing - you can put up to about 25,000 dollars if you want - US or Oz or other currencies - and you basically take it to any atm and take out money as you need it - I think its probably the way to go - its also able to be used like a standard credit card I think - but using your cash you've put on it as opposed to credit...

Re: things doing your head in - I hear you I've just sent about 200 kilos of my stuff down there today - I'll be following my stuff in about 6 or 7 weeks from now - and there is still just so much I have yet to finish before I get on that plane lol

 

[random.striker]

In Sydney I managed to get this card http://28degreescard.com.au. It has very good advantages while overseas specially with exchange rates, transaction and withdraw fees.

"You’ll still enjoy no international transaction fees and no annual fee."

Check out this thread as well as some other alternatives: http://is.gd/jOsio

 

[Diskosis]

Thanks for your replies. Frickin bank now says they cover overseas transaction fees but not fees charged by the local banks here. Bastards.

 

[random.striker]

Thanks for your replies. Frickin bank now says they cover overseas transaction fees but not fees charged by the local banks here. Bastards.

Yeah, I don't think you an get away with the Banelco charges (around $16 pesos).

However, my suggestion would be to use Citibank ATM as you are able to withdraw up to $2500 pesos at one go and only be charged $16 pesos for it. A much better deal compare to other banks that allow you to get only up to $1000 pesos.