even higher ATM fees

Diskosis

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So I took out money this morning and was charged 15 pesos for the transaction!

I didn't read all of the previous thread about ATM fees, but when I went back to Australia recently, I checked with my bank and they told me that the type of account I have means that I should not be charged anything for overseas transactions.

Does anyone know of a way around the fees?
 

Liam3494

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Front load your credit card and use Citi... I do, and avoid paying fees.
 

Diskosis

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What does that mean exactly, Liam? If I draw out money from my credit account from a Citi ATM I won't be charged the fee?
 

Liam3494

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Not quite - What you have to do is put your credit card into credit, by paying into it, so you have a credit balance, i.e. they owe you money! Then when you use Citi ATM's here, you don't get charged the 15 peso, nor do I pay commission on the transaction with my credit card company, but I can only speak on that part for my own Bank of Ireland service provider, that may not be the case with other companies...., but from what I gather from others who have tried this, they certainly don't pay the 15 peso fee.
 

Karly

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After spending many hundreds of dollars last year on withdrawal fees, my husband and I closed our accounts at Citibank and Washington Mutual, and while back in San Francisco opened up an account with a small local bank which refunds ALL transaction fees at ALL ATMs (domestic and foreign). Check out your local bank back home - maybe they'll offer you the same perks. (p.s. it feels good to abandon the nasty big banks!)
 

Popper

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Charles Schwab refunds all ATM fees, no questions asked. I opened an account from here without a problem, picked up my ATM card while in the States and have never had a problem.
 

viajera24

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It is really insane that the prices have gone up so fast! Spending 15,50 pesos everytime I get cash is a lot! I guess I should also try to use my credit card... Hopefully the prices won't go up even more.
 

SaraSara

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One of my credit cards charges 3% for overseas use, and the other charges 1%, which is what my bank charges for ATM withdrawals.
 
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