Who told you that?
Upon reading this, I called Washington Mutual/Chase and they are saying that that is not true. That you would still be subject to a foreign transaction fee.
Don't shoot the messenger, I am just telling you what they told me.
SHALENA
You're responsible for foreign transaction fee, which is 1.5%.
Lot less than in other banks where it reaches 4%.
No ATM fee is what I am referring to.
If you look back previous posts I wrote on this subject you will see I have never hidden the fact. And why would I, if the "foreign transaction fee" is a normal practice of ONE AND EVERY bank in the world?
Even with Bank of America, when you withdraw at Scotiabank, you get the foreign transaction fee. Some banks "adjust" the exchange rate by the foreign transaction fee so it may not be obvious, and some charge it apart.
If I use my Banco Leon debit card abroad (e.g. on Paypal), the exchange rate I get is now about 36.5 to 1, as compared to the real exchange rate 35 to 1.
Some banks do it straightforward, some banks do it the hidden way.
Anyhow, back to topic. Even with 1.5% FTF on WAMU, I get an exchange rate very close to what Caribe Express has.