Best US Bank -Exchange/Fees

panthdave says on Aug 19, 2007, 07:59:

POS TRANSACTIONS:
1.Capital One Mastercard or Capital One Debit Card No Currency exchange percentage fee
ATM TRANSACTIONS:
2. Citibank ATM Debit Card No Fees from a Citibank ATM in Colombia but will get nailed at other ATM's Fee plus Exchange Percentage Fee
3. HSBC ATM Debit Card No Fee from HSBC ATM in Colombia but will get nailed at other ATM's Fee plus Exchange Percentage Fee
4. Capital One ATM or Debit Card ATM: No Fee plus no currency exchange fees from any Plus Network ATM's

Remember there are two different transactions POS and ATM...also remember there are flat ATM Fees plus Currency Exchange Percentage Fees...

Now I have noticed a couple referrals on PBH like Compass Bank but never really looked into that bank.

Good Luck can get tricky Banks are tricky especially the ones that say no fee but then nail you on the currency percentage exchange fee..and they say oh that is mandatory fee we were talking about a flat ATM Fee we waive but not the currency exchange percentage fee which is mandatory from Visa and Mastercard which is bullcrap they can absorb if they want to..but banks are in the business for profit..

panthdave Miami

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RussianFred says on Aug 19, 2007, 08:03:

Thank you for the Info.

Annual Drug Deaths: Tobacco: 395,000, Alcohol: 125,000, 'Legal' Drugs: 38,000, Illegal Drug Overdoses: 5,200, Marijuana: 0. Considering government subsidies of tobacco, just what is our government protecting us from in the drug war?--Ralph Nader

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panthdave says on Aug 19, 2007, 08:11:

Well take advantage of things you can...Surprised with Italy being in the Union and same currency in many countries you would have much more competition between banks..in the Union..and you could choose.. I assume your on Visa Electron and you can have electronic deposits so you could go to France,Belgium,Germany,Spain, there must be competition between the banks and you can find one to waive the exchange fees...

Spoiled Robi you have Euros that go far..

panthdave Miami

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arthur brode (☼Travelguide writer) says on Aug 19, 2007, 08:35:

i just applied for the www.paypal.com atm debit card.
as soon as i get it,i will let you know how it works in Colombia

http://www.calirentals.net/

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panthdave says on Aug 19, 2007, 08:38:

Damn go to everbank and open a Euro account...and see if you can get an ATM Card...they have no fees either...

www.everbank.com and then go to products scroll to Foreign Currencies and they Certificate of Deposits in Euros which maybe you can do transfers from your bank in the Union to everybank

www.everbank.com

Don't know if you have to be a resident or citizen of the States nor do I know if you can get an ATM in Euros but maybe they will convert your Euros to a debit account with Dollars as you need them..

You never know..

panthdave Miami

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panthdave says on Aug 19, 2007, 08:42:

Or even open a Citibank or HSBC account in the Union with Euros and you can use ATM's from HSBC or Citibank for no fees in Colombia

panthdave Miami

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Miguel says on Aug 19, 2007, 08:56:

CitiBank (en Barranquilla).

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expatriate says on Aug 19, 2007, 11:00:

Pathdave, after three years my Capitol One Platinum Visa stopped working in Colombia about a month ago. That credit card had no fees, plus a one percent rebate. Tech support at Capitol One say that they don't see a reason why it is no longer accepted in Colombia. The cashiers in Colombia say that my card was not declined, but that it doesn't even exist. So, my next choice, if I use a credit card, is Washington Mutual, which charges a 1% fee.

The two no fee ATM cards I have and use are from National Interbank in Indianapolis, and Affinity Bank in Ventura, California. Both checking accounts are free and can be opened by mail. I can use the ATM cards at any ATM that will accept them, and there is never a fee. I usually go to a Servibanca ATM, since they seem to be everywhere, and always accept my ATM cards.

I also have a Paypal ATM card. The fee is 1$ per transaction, so go to a bank that gives you the highest amount of pesos in one transaction if you use that card.

You better take care of me Lord, if you don't you're gonna have me on your hands.

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panthdave says on Aug 19, 2007, 11:11:

I was there last week Capital one working perfect...but it is a Platinum Mastercard from Capital one not a Visa....

Had no problems...No fees..for POS Transactions...and worked great in Medellin...as usually..The strange thing is I notice some places will only accept Mastercard over Visa which I seen in a couple of places..

Using now Capital One Money Market for my Cash withdrawals which no ATm fee nor the currency exchange fee...

panthdave Miami

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arthur brode (☼Travelguide writer) says on Aug 19, 2007, 11:29:

arthur brode (☼Travelguide writer) says on Aug 19, 2007, 11:36:

expatriate says on Aug 19, 2007, 13:10:

Pathdave, I just applied online for a CapitolOne Mastercard, and was accepted. When it arrives, I hope it works out for me. Thanks for the tip.

Also, having a Paypal account is almost a necessity to move money around between bank accounts for free. I also have a PayPal credit card, but I don't use it because the international exchange fee is 3%.

You better take care of me Lord, if you don't you're gonna have me on your hands.

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panthdave says on Aug 19, 2007, 13:14:

AB raves about this paypal but I did not see why you just pointed it out why????Thats the same with Chase 3%%%%%%%%%%%%%%....

Well you know for vacations or not many transactions no problem but with me in Medellin all the time doing normal things all year that currency exchange fee can pile up to a large amount over one year.. Many people rave no Flat ATM Fee but you know what I rather have that flat ATM Fee than a currency exchange fee on a percentage.. Well I have none now with Capital one...on CC and Banking..

panthdave Miami

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arthur brode (☼Travelguide writer) says on Aug 19, 2007, 15:37:

miamimike says on Aug 19, 2007, 16:31:

Panthdave-Damn go to everbank and open a Euro account...and see if you can get an ATM Card...they have no fees either...
==================================================================

How about those Icelandic Bonds through Everbank's Foreign currency account paying 11-12%,,,,

What's the difference between a pitbull and a hockey mom? Lipstick.Sarah PalinAcceptance speech at 2008 Republican National Convention, on selection as party's vice-presidential candidate.

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miamimike says on Aug 19, 2007, 16:32:

Soon leaving bank of America for an Internet only bank,,,they have had use of my Money TOO LONG for practically non existent interest,,,

What's the difference between a pitbull and a hockey mom? Lipstick.Sarah PalinAcceptance speech at 2008 Republican National Convention, on selection as party's vice-presidential candidate.

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brad216 says on Aug 19, 2007, 17:51:

Just an FYI....
as of August 1, Wachovia and Citibank have increased their international transaction fee from 1% to 2%. This really sucks since Wachovia only started charging 1% about 10-12 months ago and they have already increased it to the 2% mark.

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panthdave says on Aug 19, 2007, 18:18:

Though Citibank ATM withdrawals from International Citibank ATM's will not be affected..only from other ATM's and POS Transactions..

I betya Citigold Customers will probably will not be affected either.. Money talks..

Washington Mutual across the board POS and ATM...No International ATM Machines..

panthdave Miami

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Saltador says on Aug 19, 2007, 19:54:

FYI:
Make SURE your bank has no fees. Many times they charge you, but it is not noted on your statement. If you don't check (by asking them directly usually) you may be getting charged without knowing it. I have just started using InterBank of Indianapolis, they don't charge anything for ATM withdrawls.

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panthdave says on Aug 21, 2007, 05:15:

Doing my research you always be charged 1% of the Interbank Rate...Visa/Mastercard International control the currency rate for 90% of the ATM Networks..for currency exchange. Visa/Mastercard Rate is always 1% of the Interbank Rate which is what they send to your bank to debit..The ATM owner gets .5 percent from Visa/Mastercard International and Visa/Mastercard keeps the other .5 but you don't see that. Your bank gets crap..except what ever fees they charge you on top of what Visa/Mastercard sends to debit your account. That is the problem because greedy banks said where is our share our account holder has access to his money half way across the world and we don't get crap..So thats where US Banks like to charge you on top of what Visa Mastercard sends to debit your account.. So I made the wrong assumption on Capital One absorbs the currency fee they just don't they just don't make a profit on the exchange like many banks want too..with charging you 1% on top of what Visa/Mastercard sends to debit your account.or even higher percentage..So banks that charge that percentage on top love you when you use your card on currency exchange transactions.. So they make money on the exchange because they charge you plus I bet you they make a small percentage from the merchant share of fees on POS Transactions...

I always thought why would Capital One absorb the fees and take a loss but they don't they just don't make a profit on the exchange and just get there share of POS Transactions from the merchant..

So thats why Cambio Houses charge so much to exchange physical currency its what ever they can get and the bigger cambio Houses usually get a better rate because they exchange a higher volume of physical currency..Now large banks you know they get interbank or close to interbank so when you change physically currency with them they get a huge profit and they control the rate because you are not using an ATM network in which the rate is controlled by Visa/Mastercard International...

Very interesting always wanted to know..

panthdave Miami

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elk says on Aug 21, 2007, 05:37:

Etrade Bank:

I have used Etrade Bank for years. I have my checks direct deposited to my checking account every month and my brokerage and checking accounts are linked along with my savings account. No fee and I normally get better than the TRM rate.

example:

19 Aug. TRM rate 2,114 - I received a rate of 2,123
20 Aug. TRM rate 2,113 - I received a rate of 2,123

Note: Etrade charges no fee providing you have a monthly direct deposit to your account. In my case my social security check and a retirement check from California. You have instant access to your account deposits/and debits via the internet making it easy to follow your account activity. I use Skype to communicate with the bank when necessary.

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arthur brode (☼Travelguide writer) says on Aug 21, 2007, 11:33:

i use this Credit Union in Puerto Rico
but you have to be a Veteran

http://www.vaprfcu.com/spanish/servicios.html

http://www.calirentals.net/

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jorgegdiaz (☼Travelguide writer) says on Sep 12, 2007, 17:06:

RussianFred says on Sep 13, 2007, 20:30:

I don't think HSBC is in Colombia, I may be wrong!

Annual Drug Deaths: Tobacco: 395,000, Alcohol: 125,000, 'Legal' Drugs: 38,000, Illegal Drug Overdoses: 5,200, Marijuana: 0. Considering government subsidies of tobacco, just what is our government protecting us from in the drug war?--Ralph Nader

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RAAAY says on Sep 13, 2007, 21:50:

You are wrong........................and not for the first time..................but whatever.......

.........Its useless to argue with ignorance

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