ATM fees outrageous, solution?

[polostar88]

Amazed to see $10 fees for each transaction at Banelco ATM's. And I assume the limit of any one transaction is 5000 pesos? This makes it very hard to have access to my own money without confiscatory fees.

What's the solution? Any ATM's that don't have this fee?

Can you still send money to yourself with Xoom or Ria or Western Union (do any of them work)?

Thanks for any advice, I'm sure others could use this advice as well.

 

[Jed]

Some people have been reporting $8,000 pesos withdrawals from Banco Frances with a less than $10 USD fee, but I've had friends try and only received the typical $4,000 max with 2 transaction limit per day. Might be the luck of your card.

Banck Nacion seems to have the lowest transaction fee, but I can never get my foreign cards to work there so cannot confirm first hand.

For an overall view of what's going on

Xoom, Ria, Western Union are still options. Transferwise has opened up shop here, but I wasn't too impressed with the fees (I thought they were quite high).

 

[polostar88]

Some people have been reporting $8,000 pesos withdrawals from Banco Frances with a less than $10 USD fee, but I've had friends try and only received the typical $4,000 max with 2 transaction limit per day. Might be the luck of your card.

Banck Nacion seems to have the lowest transaction fee, but I can never get my foreign cards to work there so cannot confirm first hand.

For an overall view of what's going on

Xoom, Ria, Western Union are still options. Transferwise has opened up shop here, but I wasn't too impressed with the fees (I thought they were quite high).

THANKS for the reply. So Xoom and Ria...can you still send to yourself? I heard reports recently that they only accept if you get money sent from others like friends or family members.

 

[Macanudo]

To use RIA you need someone in the USA to send you the money and you can receive dollars. Max transaction is $2999. with a 15 dollar fee. Haven't used XOOM in a few years but I believe you can send money to yourself and can only receive pesos. I made two consecutive 8000 pesos withdrawals from Banco Frances last week. However the first machine I tried rejected my withdrawal and said 4000 was the limit, so I switched to my usual machine and it spit out a total of 16000 pesos in two consecutive 8000 peso transactions with 375 peso fees each transaction.

 

[brandon]

If you can, open a Schwab investment account.
They reimburse all foreign atm transaction fees.

 

[jeff1234]

Schwab refunds my fees every month. Its also important to watch the exchange rate. So far it's good.

 

[Jed]

Schwab refunds my fees every month. Its also important to watch the exchange rate. So far it's good.

What rate is Schwab giving right now?

 

[Neil]

Current transferwise exchange....

 

[polostar88]

To use RIA you need someone in the USA to send you the money and you can receive dollars. Max transaction is $2999. with a 15 dollar fee. Haven't used XOOM in a few years but I believe you can send money to yourself and can only receive pesos. I made two consecutive 8000 pesos withdrawals from Banco Frances last week. However the first machine I tried rejected my withdrawal and said 4000 was the limit, so I switched to my usual machine and it spit out a total of 16000 pesos in two consecutive 8000 peso transactions with 375 peso fees each transaction.

Can you send money to yourself with RIA?

 

[polostar88]

Current transferwise exchange....View attachment 5316

Thanks but what are the rules for this service? What are the limits, and can you send to yourself?