B of A Foreign ATM FEE Warning

caribeman

Member
Dec 26, 2011
293
0
16
Enjoy meeting new people/cultures
If you do not already know it... FYI. Bank of America customers get charged a $5.00 ATM fee to check your balance or remove money from any ATM other than ScotiaBank. I casually figured...2 or 3 dollars.. Whammo! $10.76 charge.

Proceed to your local cajero automatico with caution.
 

DominicanQuest

New member
Oct 22, 2012
148
0
0
I have BoA and I have not noticed any charge for taking money from Scotia Bank ATM. I check my online banking at least 3x per week. I have been using Scotia Bank for months here. Just my 2cents
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
I have BoA and I have not noticed any charge for taking money from Scotia Bank ATM. I check my online banking at least 3x per week. I have been using Scotia Bank for months here. Just my 2cents

That's correct, that's why caribeman says 'other than Scotiabank'. Soctiabank has an alliance with BofA for their ATM's. The exchange rate was also always kind of good, but last week, I took out pesos several times at a 39,21 rate, which is way too low.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
That's correct, that's why caribeman says 'other than Scotiabank'. Soctiabank has an alliance with BofA for their ATM's. The exchange rate was also always kind of good, but last week, I took out pesos several times at a 39,21 rate, which is way too low.

Visa/MC International still charges a "built in" 3% commission for a foreign currency transaction, what's wrong with 39.21, the street is not much higher?
 

Mauricio

Gold
Nov 18, 2002
5,607
7
38
Visa/MC International still charges a "built in" 3% commission for a foreign currency transaction, what's wrong with 39.21, the street is not much higher?

there is no 3% built in VISA or MC commission if you retrieve from the Scotiabank ATM.
The current dollar rate in the streets should be about 39.60, this morning I took out 20,000 being USD.510,86 = 39,15. This varies though
 

tflea

Bronze
Jun 11, 2006
1,839
164
63
Scotiabank tells me, after a call to them, they've closed the doors on Sosua office and consolidated to Cabarete. They said the ATM in Sosua will continue to operate.
ATM operated Saturday, is all I know.
 
Feb 7, 2007
8,005
625
113
@Castellamonte ... I guess not just anybody will be able to start cashing checks at exchange places ... they would need to put at least 30 day hold on checks as banks do, unless that "somebody" is well known and respected person in the community. Otherwise too huge a risk to cash without hold.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
there is no 3% built in VISA or MC commission if you retrieve from the Scotiabank ATM.
The current dollar rate in the streets should be about 39.60, this morning I took out 20,000 being USD.510,86 = 39,15. This varies though
If your ATM card has a Visa logo on it, there is a "currency conversion charge". This is why you are not getting the Interbank Rate (published on Oanda), but a slight haircut. I may have mis-spoke about 3%, but there is a small haircut on the rate, this I am sure of.