ATM fee

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Space Cat
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Re: ATM fee

Post by Space Cat » Thu May 09, 2019 1:00 pm

Scotia charges some cards (my US debit Visa from Wells Fargo) but not others (my UK debit MasterCard from Payoneer).

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tiagoabner
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Re: ATM fee

Post by tiagoabner » Thu May 09, 2019 3:59 pm

I just went to Scotia and tested all of my cards. The only one that wasn't charging any fees was my US Payoneer card. I'm going to give a shot at Security tomorrow, as Payoneer charges a $2.15 fee per withdrawal.

Britkid
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Re: ATM fee

Post by Britkid » Thu May 09, 2019 10:34 pm

I was in Santiago a few weeks ago and Scotia was charging me. But I tried the Scotiabank in Talagante and it did NOT charge me. That was with the same card, my UK Halifax Clarity. But, based on past evidence, I get the charges in Talagante a few months later than Santiago so it may be coming soon.

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tiagoabner
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Re: ATM fee

Post by tiagoabner » Fri May 24, 2019 2:39 pm

Banco Security charged me $5000. The dream is gone :-(

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Space Cat
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Re: ATM fee

Post by Space Cat » Sat May 25, 2019 2:20 am

In addition, Payoneer charges 3.5% for withdrawing or paying in currency other than the card's currency.

It's much cheaper to withdraw from Payoneer to a Chilean bank account: it arrives as a local transfer in CLP and they have no fees other than a lower exchange rate (≈2%). I recently transferred money from Payoneer for USD/CLP 683 when the market rate was around 700.

mem
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Re: ATM fee

Post by mem » Sat May 25, 2019 4:59 pm

Space Cat wrote:
Sat May 25, 2019 2:20 am
In addition, Payoneer charges 3.5% for withdrawing or paying in currency other than the card's currency.

It's much cheaper to withdraw from Payoneer to a Chilean bank account: it arrives as a local transfer in CLP and they have no fees other than a lower exchange rate (≈2%). I recently transferred money from Payoneer for USD/CLP 683 when the market rate was around 700.
Yes, about 2.5'sh % on the exchange rate from 700 to 683. I really dislike the % based fees regardless of the method of transit. Normally, with an ATM withdrawal you are dealing with the best rate conversion available (perhaps 24 hours delayed rolling window) and then a flat rate fee. If you have have a Schwab checking account then the flat rate fees turn into $0 and it is essentially a cost/fee less transaction. But outside of that, I'll take the flat rate fees anyday and do larger amounts as long as they aren't futzing voodoo with the market exchange rate.

That being said, I am transferring $1000+ USD each time. I am surprised at the locals I see withdrawing $5K or $10K CLP from an ATM. I just don't get it, I guess they are doing CuentaRUT withdrawals and so they aren't really paying any fees anyway using an Estado ATM and so if they take out $5k or $500K CLP it doesn't really matter to them

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41southchile
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Re: ATM fee

Post by 41southchile » Mon May 27, 2019 8:25 am

mem wrote:
Sat May 25, 2019 4:59 pm
Space Cat wrote:
Sat May 25, 2019 2:20 am
In addition, Payoneer charges 3.5% for withdrawing or paying in currency other than the card's currency.

It's much cheaper to withdraw from Payoneer to a Chilean bank account: it arrives as a local transfer in CLP and they have no fees other than a lower exchange rate (≈2%). I recently transferred money from Payoneer for USD/CLP 683 when the market rate was around 700.
Yes, about 2.5'sh % on the exchange rate from 700 to 683. I really dislike the % based fees regardless of the method of transit. Normally, with an ATM withdrawal you are dealing with the best rate conversion available (perhaps 24 hours delayed rolling window) and then a flat rate fee. If you have have a Schwab checking account then the flat rate fees turn into $0 and it is essentially a cost/fee less transaction. But outside of that, I'll take the flat rate fees anyday and do larger amounts as long as they aren't futzing voodoo with the market exchange rate.

That being said, I am transferring $1000+ USD each time. I am surprised at the locals I see withdrawing $5K or $10K CLP from an ATM. I just don't get it, I guess they are doing CuentaRUT withdrawals and so they aren't really paying any fees anyway using an Estado ATM and so if they take out $5k or $500K CLP it doesn't really matter to them
There are no charges, that I am aware of, for taking out any amount if you have (any I think, not just cuenta RUT?) local account, that's why people take out 5 or 10k. I sometimes pull out just 10 or 20k at ATM, although more often just ask at the super when paying with redcompra. I dont like carry lots of cash round with me, not much need to nowadays.
With BCI and Santander I pay a monthly account maintenance fee, but I can use any ATM and for any amount and do not get charged a fee when I use them.
Comuna Loncotoro Lakes Region Chile

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tiagoabner
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Re: ATM fee

Post by tiagoabner » Mon Jun 10, 2019 12:37 pm

I believe there was some sort of change on Transbank/Redbank around mid-May. My debit cards for my accounts abroad have started to be recognized as debit cards (previously they were recognized as credit cards in Chile). In fact, even my Transferwise card - which was meant to be recognized as a credit card - now shows as a debit card. Also, Banco Estado ATMs no longer accept any of my foreign cards, regardless of me choosing debit or credit.

I've been withdrawing cash without fees as "Vuelto" at Lider Express. This previously wasn't an option, as this only shows to you if you're using a debit card. I can withdraw up to $90.000 without fees, but it can only be done if you're paying for a purchase. Good thing my Banco Estado account is working, so I only keep cash to pay for the few cash payments I need to make.

mem
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Re: ATM fee

Post by mem » Mon Jun 10, 2019 4:03 pm

On the Banco Estado ATM's....I have never seen them query if it was a debit or credit card when using a foreign card.

I have noticed some strange behavior with Estado ATM's. There seem to be two versions out there. One version won't work with certain foreign cards, but they don't say they wont. Instead they act like they are going to process it and then they make you wait for an uncomfortable amount of time before saying the transaction is "annulled'. if you look on the online banking it will show a debit and then an immediate credit back. Called the bank and they said it wasn't them, it was the Chile side that accepted and then reversed it.

But then other Estado atm's (particularly ones inside of EL tit's for some reason) have no problem and allow up to 800K to be withdrawn (provided there is enough money in the ATM to service your request)

I used to think it was the Estado ATM's that "beeped" when you hit the number pad that were the problem, because the others did not beep when I punched in numbers on the number pad, but then I found one that worked in an El tit that did beep...so meh

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tiagoabner
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Re: ATM fee

Post by tiagoabner » Mon Jun 10, 2019 4:52 pm

I'm aware of the Banco Estado different ATMs issue. I'm fact, the one closest to my place is one where foreign cards are "anulado" at the end of the transaction. But now even the ones I was usually withdrawing are rejecting the cards outright. Weird.

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eeuunikkeiexpat
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Re: ATM fee

Post by eeuunikkeiexpat » Mon Jun 10, 2019 5:04 pm

Long time ago before BE started charging, BE ATMs would only accept Cirrus network foreign ATM and debit cards. When they started charging, their machines began accepting Plus network cards. As others have noted, there may have been another "update" recently (noticeable with changes on the max withdraw permitted) leaving some machines under the old system and others under a new system (perhaps again rejecting Plus system cards). Need more info from others to back that observation up.
Generally, just a SPAM KILLER. You are on your own in this forum. My personal mission here is done.

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mem
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Re: ATM fee

Post by mem » Tue Jun 11, 2019 12:11 am

eeuunikkeiexpat wrote:
Mon Jun 10, 2019 5:04 pm
Long time ago before BE started charging, BE ATMs would only accept Cirrus network foreign ATM and debit cards. When they started charging, their machines began accepting Plus network cards. As others have noted, there may have been another "update" recently (noticeable with changes on the max withdraw permitted) leaving some machines under the old system and others under a new system (perhaps again rejecting Plus system cards). Need more info from others to back that observation up.
I can see a new website that maps the Blessed ATMs that allow the massive 800k withdrawal from BE. www.showmethepesos.cl

But seriously I feel like an ATM ninja knowing the capacities and capabilities of every BE atm within a 75 mile radius. I even have the reloading schedules down by the armed guard cash prosegur people. I could seriously go on ; )

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