Banco Estado ATM exchange rates

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thisisreallycomplicated
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Banco Estado ATM exchange rates

Post by thisisreallycomplicated » Sun Feb 09, 2020 9:19 pm

Does anyone know if Banco Estado bases their ATM exchange rate directly on Banco Central's posted rate? And do they switch to the next day's Dólar Observado, right after it's posted by Banco Central?

For example, Banco Central posted this on friday, feb 7:
https://www.bcentral.cl/web/banco-central/inicio
Dólar Observado - $779,12
Dólar Observado (10 de febrero) - $788,8
Would Banco Estado's ATM rate on Sunday, feb 9 be based on 779,12 or 788,8? Or do they use a completely different method to determine their rates?

The ATM I used to use isn't there anymore, or it's locked up after banking hours. So I'm trying to figure out my next best option, and when their rates change. Thanks.
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

mem
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Re: Banco Estado ATM exchange rates

Post by mem » Mon Feb 10, 2020 11:21 am

I haven't seen the calculation posted anywhere officially, but I can tell you my experience as I only go to select banco estado atms.

Basically it's a 24 hour rolling window. During the week that generally holds, so if it's a Thursday you will probably get Wednesdays market rate. On the weekend it seems to lag as if the rates are not updating, so Sat and Sun you will probably get Fridays rate. Ymmv

thisisreallycomplicated
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Joined: Sun Aug 07, 2011 6:25 pm
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Re: Banco Estado ATM exchange rates

Post by thisisreallycomplicated » Mon Feb 10, 2020 7:39 pm

mem wrote:
Mon Feb 10, 2020 11:21 am
Basically it's a 24 hour rolling window. During the week that generally holds, so if it's a Thursday you will probably get Wednesdays market rate. On the weekend it seems to lag as if the rates are not updating, so Sat and Sun you will probably get Fridays rate. Ymmv
Thanks, that helps.

Scotiabank seemed to change rates sometime around the end of the business day (maybe 5pm?). So you'd get wednesday's rate until about 5 pm on wednesday. Then you'd get thursday's rate after 5pm. At least that's how I remember it (I could be wrong). So maybe Banco Estado updates rates later, at the beginning of the next business day? So you'd get wednesday's rate until about 9 am thursday? And friday's rate until about 9 am monday?
“Now it’s conspiracy – they’ve made that something that should not even be entertained for a minute, that powerful people might get together and have a plan. Doesn’t happen, you’re a kook, you’re a conspiracy buff!” – George Carlin

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