International Bank Fees

Some time ago there was a thread about getting money from the US to Colombia. I posted a comment complaining about my US bank charging international transfer fees and 'not our ATM' fees for withdrawals here in Colombia. One or more folks kindly posted information on some alternatives that do not charge those fees.

Well, in my super efficiency (not), I was sure I saved the info - but if I did, I can't find it now. If that person or those persons see this post, I would appreciate it if you would repeat it for me.

Thanks,
RD

By RonDubya on Dec 31, 2007, 10:21 in Visa & paperwork.

osuspain says on Dec 31, 2007, 11:52:

Hello,

I am not sure who that person was however; through my personal experience with international bank fees are as follows. I pay $5.00 for each withdrawal and additional .25 cents for the ATM fee. Although, my mother has an account with a credit union in the U.S. they do not charge her international withdrawals. Another example is a sibling of mine has an account with CITIBANK and she does not get the international withdrawal fee when taking money out of another CITIBANK ATM in Colombia.

For example, on my Bank Account it states….

12/12/2007 ATH B.BOG CC 12/12WITHDRWL... -$0.25

12/12/2007 ATH B.BOG CC 12/12WITHDRWL... -$5.00

12/12/2007 ATH B.BOG CC 12/12WITHDRWL... -$24.88

All this for a simple 50,000-peso withdrawal

Possibly, the other option could be when going to a big store like EXITO and get cash back by putting your pin as a debit. However, I cannot recall factually it that works. That might have been just a little plan I had in my head and when I voiced it my husband was like “yeah right estas loca‿ ajjajja they do that here. So, I really do remember if that works. Good Luck!

tomtom33 says on Dec 31, 2007, 13:18:

CapitalOne debit cards charge no fees at all, not even the 1% international transaction fees. You get a hair less than the Interbank exchange rate. Last time I checked both, the Interbank was 2012 and I got 2003. And they pay around 4.4% on your money.

sloopskipper says on Jan 3, 2008, 17:35:

I used my American Express at Bancolombia and was charged no fees.

There is now a big class action lawsuit against Visa & Mastercard for overcharges on currency conversion. Minimum payback $25, although I don't have the details in front of me at the moment.

See: http://blogs.consumerreports.org/money/2007/12/foreignexch_ref.html

I think the official offering website is: http://www.ccfsettlement.com/

panthdave says on Jan 5, 2008, 19:36:

Same here TomTom..Capital Debit Card and Capital One Credit Card.....but I did notice ATH Network ATM's have a different rate then the normal Plus ATMs like Colpatria,BBV,Citibank,..ATH now accepts plus cards but they hit harder on the rate...Capital One no fees and close to the Interbank Rate as long as you go to a normal PLUS ATM...and Capital One Mastercard use everywhere for POS transactions no fees...

Great Combination for colombia..

panthdave Miami

tomtom33 says on Jan 6, 2008, 05:19:

Actually Dave, I think I found out about CapitalOne from your posts.

Muchisimas gracias.

manINred says on Jan 6, 2008, 08:44:

if you use 'plus' on your ATM card I believe they charge $5.00 per withdrawal internationally.

tomtom33 says on Jan 6, 2008, 09:29:

CapitalOne is a member of the Plus network. There is no charge whatsoever.

manINred says on Jan 6, 2008, 09:45:

ahh then it must depend on the bank.

RussianFred says on Jan 6, 2008, 10:13:

Washington Mutual has a lower internation wire fee, it's $15 or $18.
Someone mentioned before that Citibank rates woluld increase in early 2008.

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