Bank & ATM TOTAL FEE = 48 pesos ??!?!

[artur]

has anyone experienced this?

im using my HSBC Biz Account ATM card at a CITIBANK ATM.
( because of the high max withdrawal amnt )

on the screen they are charging me 16 pesos
on my account it says 48 pesos were deducted.

is this normal?
on HSBC website it says it charges just 1.50$ for int. withdrawals.

grrr.

 

[rrptownley]

Have a read:

http://www.moneysavingexpert.com/travel/cheap-travel-money

 

[artur]

just got off the phone with HSBC Business Banking,
they said that MasterCard is taking 3% on the total withdrawal.
which is f'd up since this is not a purchase..but just an atm withdrawal.

amazing.. really

guess im getting Charles Schwab.
any other ideas?

 

[Desde2008]

guess im getting Charles Schwab.
any other ideas?

I went through the whole process of getting a Charles Schwab card here since I already have a brokerage account. Sent the form and a check for the initial deposit. 4 weeks later they told me that they could not create an account for a foreign address. Use a US address and you should be golden.

 

[Roxana]

I would add to use a proxy when you connect to Charles Schwab online, so they dont know you are abroad.

 

[nivax]

Most likely your bank have a surcharge on 3% about the Mastercard rate.
Mastercard doesn't charge fees. Here are their rates btw:
https://www.mastercard.com/global/currencyconversion/index.html

 

[igor]

I would add to use a proxy when you connect to Charles Schwab online, so they dont know you are abroad.

After your very first ATM withdrawal they will have pretty good idea where you are anyway.

 

[tez]

Charles Schwab is 100% aware that I am abroad and have been so since 2007. It hasn't ever been an issue... Why do you recommend keeping it from them?

Edit: I assume now you mean while you apply for a new account? I *think* as long as it is sent to your US address they don't have much of an issue, at least they didn't when I lost my card here and applied for a new one to be sent to CA (they wouldn't send it here, or maybe they did after all?... can't remember now).

 

[sesamosinsal]

Switch to Schwab or Ally... http://www.argentinafaq.com/how-can-i-withdraw-money-from-an-atm-without-paying-any-fees/

 

[TASinBA]

Using debit card is cheaper - I have used my credit union debit card all around the world - always great conversion rates, and no extra charges