My maximum ATM withdrawal got boosted!

[gopbroek]

I get all my atm fees refunded so I don't fret about where I go but Mega is the place I usually get cashola...i got 21.5 peso to to the dollar from the Santander money store

Unless someone is willing to 'accept' an offered conversation convenience fee (8-10% clip) the ATM's only gets the $31 - 70+ MXN ATM fee they disclose prior to the transaction. The conversation fee between the dollars in your account and the Peso's you receive is done by your bank, not the ATM.
Example you take $6000MXN out of a Banamex machine with a $31 fee. You get your $6000 and your bank now owes Banamex $6031. How many dollars it deducts from your account and if they refund the ATM fee is on your bank. Pulled out 6K on Monday at the Mega Banamex machine. Schwab charged me $22.33 MXN per dollar which was just slightly under the full FOREX interbank rate.

 

[flyboy08]

Unless someone is willing to 'accept' an offered conversation convenience fee (8-10% clip) the ATM's only gets the $31 - 70+ MXN ATM fee they disclose prior to the transaction. The conversation fee between the dollars in your account and the Peso's you receive is done by your bank, not the ATM.
Example you take $6000MXN out of a Banamex machine with a $31 fee. You get your $6000 and your bank now owes Banamex $6031. How many dollars it deducts from your account and if they refund the ATM fee is on your bank. Pulled out 6K on Monday at the Mega Banamex machine. Schwab charged me $22.33 MXN per dollar which was just slightly under the full FOREX interbank rate.

I get 100% of charges refunded by Schwab...100%

 

[gopbroek]

I get 100% of charges refunded by Schwab...100%

Yep me to, understand Fidelity has a similar offer, not sure if they go almost full OANDA / FOREX rates

 

[AdivingBel]

I get 100% of charges refunded by Schwab...100%

CapOne has a similar deal. I've been traveling on it for years. Prior to a trip I keep just enough in the account to cover my expected ATM withdrawals plus a little for emergencies. Works great and minimizes my exposure if I do get skimmed.

 

[horn34]

CapOne has a similar deal. I've been traveling on it for years. Prior to a trip I keep just enough in the account to cover my expected ATM withdrawals plus a little for emergencies. Works great and minimizes my exposure if I do get skimmed.

Capital One has a checking account that refunds all ATM fees and waives foreign transaction fees?

 

[cpace]

Why not obtain your pesos in the USA thus avoiding foreign ATMs?

 

[DandyDon]

Why not obtain your pesos in the USA thus avoiding foreign ATMs?

Aside from not carrying excessive cash on the plane trip, I have not found favorable exchange rates locally. Wells Fargo offers no-fee exchanges, but the rates suck. Like $1,000 USD on google today exchanges for $21,995 MXN, while on WF I'd only get $20,864 MXN, about 5% less before we look at shipping fees. I can always beat that at an ATM on the island.

 

[chillyinCanada]

What is an ATM card vs a debit card please?

 

[Snoweman]

I wonder if banks are anticipating a large drop in the Pesos.

 

[flyboy08]

What is an ATM card vs a debit card please?

Almost one in the same...a debit card can be used like a CC for purchases...an ATM which is a debit card can magically spit money out of a box...pretty dang cool.