ATM Fees

[meroberts]

I bank at Bank of America in the US and Santander in Mexico for the whole purpose of not having to pay ATM fees. These two banks have a "relationship" (don?t you love the term?). However, I recently heard that this might change in 2011. So I will keep this "relationship" going until a "break-up" is imminent. I don?t know if this will help anyone, but I thought it might still save us some fees for six months. I usually go to the Bancomer and Mega locations but use Santander ATM machines to get cash. Hope this is helpful.

Martha :-)

Bill, thanks for the amplification of this maddening situation. I found out yesterday that Bancomer seems to charge the least -- 19.59 pesos per transaction -- but still hefty if you add 16% IVA to it. For now, a neighbor/friend has offered to use the ATM card to withdraw large amounts, then pay the housekeeper cash every week.

But, I need a permanent solution, of course. I have thought about opening a M?xican bank account that could correspond with a U.S. account for no-cost transfers. (U.S. wire transfers within the country cost anywhere from $40 to $50!) But, I have always been stopped by the exhorbitant monthly fees that M?xican banks charge just to maintain the account (so they can use MY money)! Does anyone have any advice about that?