What is the average foreign ATM fee if I use, say, my Bank of America (gag, it's the only Visa I have) card in Peru or Colombia?

I'm having trouble finding out via google...perhaps I have lost my google fu.

*leaves for Lima in 59 days and still doesn't know how she's getting to MIA*

ATM fee varies by owner of the machine, could be 0 to a few $, I just returned from Canada, and one ATM charged me $0 and another charged $4. My bank charged me a 1% international fee for out of country transactions.

I can't answer for Peru or Columbia. In Morocco, it was less than $5 to make a withdrawal (I think it was more like $2 but I may be wrong). BUT they nailed me when I simply checked my balance from the ATM. That cost me about $20. So I made sure to do that online from then on.

When I withdrew money by ATM in the Philippines, they charged me $4.95 per transaction. But I recently received notice about a class action suit against BofA and other banks, stating they were overcharging on foreign transaction fees. I stand to get some money back due to the suit. So I would assume they are probably charging less now.

BofA overcharges on everything, I can't stand them - they're shady, but I DID find that the preferred card in Peru is Visa, and that's the only Visa checking account I have. Mastercard is accepted, but not everywhere.

I hope they're charging less now!

That gives me a good idea, anyway. Thanks guys!

Dear Meow,

ATM's can be a tricky thing. Last time I was in peru (2000) there was NO charge to my card. In Brazil (2002) I had a hard time finding ANY bank that I could use (I was "up country"). Anyway, in Peru, I found that my VISA check card (debit) worked great. Never a problem - it even opened the glass security doors on ATM's outside the bank after hours. I used Banco de Credito almost exclusively. And you could specify if you wanted the cash in Nuevo Sols or U.S. dollars. I hope that part hasn't changed because you avoid the inevitable exchange rate included in the system if you take it in dollars. What I know will happen is that YOUR bank in the U.S. will charge their fee which can be from 1 to 3 dollars per transaction PLUS at least a 1 per cent fee on the amount of the transaction. Not sure if that fee applies to ALL transactions or only purchases. If you make a purchase, you will get charged that fee. ie: a ten dollar purchase usually results in a separate fee of 10 cents on your statement.

I think most ATM's also now have their own charge anywhere from 1 to 5 dollars per transaction. Best advice is to use your VISA check card and shop around for a bank. Generally, don't use BofA or Citi or Chase and whatever you do, don't take a "cash advance" on any credit card. The fees (and the interest rate) will kill you.

Yeah, BofA is the only one I know with Visa...I have plenty with the mastercard symbol (I have like, 4 bank accts so shoot me) but only one with Visa. And they overcharge for EVERYTHING. Guh.

I know the fee is around $4.00.

I've used my Wachovia Visa ATM/Debit card when in Peru to take out money with no problem. You also can choose to take out Soles or Dollars.

My only issue I had when using ATM's in Peru is that if you take money from your savings account it will for some reason deduct from your checking. This can mess things up a little if you've written a check to be paid while away and you end up with no money to cover the check because the transaction was taken from your checking even though you requested it from savings.

I learned this the hard way, but did have overdraft protection to cover the check

BCP or BANCO DE CREDITO in PERU does not charge for ATM withdrawals, but watch out becuase 2 times i have been charged for 2 withdrawals with i had tio dispute. For example, i would withdraw $100 american dollars and they wold process 2 withdrawals but using the same authorization #. But besides that i still use them everytime i go to peru

While this doesn't help with foreign ATMs, in trying a few different cards overseas I learned that Capital One doesn't charge a transaction fee for credit transactions. Could be handy...

Also, this is really random, but it did work for me in Germany: I was talking to a phonecard vendor who had a local bank account, and since he could exchange euros for dollars at bank rate without a service charge, he gave me that same rate (minus a few bucks for his trouble) and absolutely blew the doors off the rate that Travelex was offering. Not sure I'd try that again with someone I don't know, but if your overseas fiancee has a bank account with the same privilege, that might be cheaper than exchanging money at the airport. Price it and see!

I really can help you with this. I use my Chase debit card (from US) here in Peru and they charge me a 3 dollar fee. You can only take 200 bucks at once. If you take out money in soles, they charge you 3 bucks + a couple cents or dollars for changing the currency. I don't recommend you to take soles cause it's a pain.

ALL ATM's CHARGE 3 DOLLARS but there is this one from INTERBANK called GLOBAL NET, they accept all credit cards but charge 3 BUCK + 2 BUCKS MORE WHICH IS A FEE FROM THAT BACK. Don't go there, go to any other and they will only charge you 3. Most of them take Visa and Mastercard.

I spend much time in Brazil.
In fact I am in Serra, ES at this time.
Have spent over half my time here over the past 2 years
Eunice got her packet 4 yesterday, I am helping her to complete it at this time, interview April 29.
The only pfobelm I have ever had was, the bank needed to be informed htat I was traveling back and forth, one day in Brazil the next in Indiana, the next in Tennesse, once informed of my globetrouting the problems were no more.
Will travel back to the U.S. April 1 back to Brazil April 8, back to the U.S. May 1 with a 3day layover in Rio for the interview then baqck to Brazil May 6.
Credit card companys can get confused if not informed.
One day here next day 5000 miles away.

I use a Walmart Money card to send money.
I Add funds in the U.S. she withdraws in Brazil, bypasses the central bank and bank fees.
And taxes.

With Washington Mutual (MC Debit) there is a 1% foreign transaction fee. In Colombia I tried several banks and none charged me any ATM fees. Lets hope that stays the same. I can't remember Peru though.

I found that if you go to the cajero GlobalNet the charges were minimal from MY bank (BofA - 2.00 as opposed to 5.00 at BCP)

I use BCP and i never get charged anything extra but what i withdraw.

GLOBALNET charges me 7 peruvian SOLES as a charge but never BCP

I must be doing something wrong. I use a debit card to get funds from my bank account in USA. I am living in Colombia. It is now costing me $166 to get $150 in pesos, plus a $2 transaction fee. Where do all of you get by for so little ?

I went to globalnet cajero in Peru ... only 2.00 to get soles, then I'm not sure how much the bank my acct is with charged. (Became very hard to keep track of soles/dollars with no internet haha)


BCP charged me 5.00 - though I think that was actually BofA but I only got charged it when I used BCP as opposed to globalnet.

It depends on your bank. My bank does not charge me for every transaction and when I get my statement it actually shows less than what the ATM receipt showed.

Diana

I also felt that the exchange rate was to my benefit when I was in Peru.

I get charged like CRAZY when I use my debit card as a credit card in Brasil ....!!

The dollar dropped everyday that I was there. Wasn't as much to my benefit as it was to your's started at 2.90, and when I left, I saw it as low at 2.77.

Yea, I was there (the last time) in 2003, so we got one sol for every dollar. I just remember being surprised and pleased that less was deducted from my bank account than I had planned. I did have a credit union at the time which helped.