ATM fee

General topics related to Living in Chile
Britkid
Rank: Chile Forum Citizen
Posts: 1316
Joined: Wed Dec 05, 2012 6:59 pm
Location: Talagante area, Chile
Contact:

Re: ATM fee

Post by Britkid » Tue Jun 27, 2017 2:05 pm

http://www.bice.cl/sucursales looks like the one, never heard of them, seem to be Santiago only.
EDIT 6th July: sorry, I made a mistake if you click on the link I gave there appears a map and list of offices only in Santiago, but there is also an option to display regional locations which they have in Antofagasta, Rancagua, Talca, Concepcion, Los Angeles, Temuco, Osorno, Puerto Montt, San Pedro de La Paz. So its coverage is the region from Santiago down to Puerto Montt except for one random outlier in Antofagasta.
Not sure whether all of these will have ATMs.
In 2014/2015 I blogged about my life in Chile. http://web.archive.org/web/201601121940 ... age_id=268

chesswolf
Rank: Chile Forum Full Member
Posts: 44
Joined: Thu Apr 05, 2012 1:44 pm

Re: ATM fee

Post by chesswolf » Sat Jul 01, 2017 10:49 am

So I tried the Banco International in Concepcion and they don't have an ATM. I'm down to the withdraw 400.000 at a time from Banco Estado ATMs and that seems to be a decent compromise. I also have a cuenta RUT now so I withdraw it and then use a different machine to deposit it.

User avatar
RuneTheChookcha
Rank: Chile Forum Citizen
Posts: 1819
Joined: Thu Aug 07, 2008 3:02 pm
Location: Valparaíso, Cerro Barón

Re: ATM fee

Post by RuneTheChookcha » Tue Jul 04, 2017 4:23 pm

Security in Vina asking for a 5000 fee. Itau asking for a 5000 fee. International in Vina has no ATM.

User avatar
mlightheart
Rank: Chile Forum Citizen
Posts: 1482
Joined: Sun Apr 15, 2007 12:20 pm
Location: Temuco - Chile

Re: ATM fee

Post by mlightheart » Thu Jul 06, 2017 2:08 pm

A friend tried BICE in Temuco the other day. Their ATM had a fee of 2500. It did not limit you to 200000 per transaction. If that is the case, it would be better than Banco Estado with their 4000 fee.

I will look to verify the info today and report back.

User avatar
mlightheart
Rank: Chile Forum Citizen
Posts: 1482
Joined: Sun Apr 15, 2007 12:20 pm
Location: Temuco - Chile

Re: ATM fee

Post by mlightheart » Thu Jul 06, 2017 2:09 pm

Oh rune, I like your avitar. A cool cat with the flutes. That's you!

serebella
Rank: Chile Forum Citizen
Posts: 51
Joined: Thu Aug 11, 2016 11:14 pm

Re: ATM fee

Post by serebella » Sun Jul 23, 2017 11:38 pm

Not for the feint-hearted, but one of the 'cheapest' ways to bring money into the country seems to be (personally I've not yet tried it) by buying a cryptocurrency such as bitcoin or ethereum using USD/Euros/GBP etc through an online (reputable) broker such as kraken.com, then selling the cryptocurrency using a chilean broker, who will transfer the clp to your Chilean Bank Account. I'm lead to believe (but don't quote me) total costs will be as low as 0.5% but not more than 1%. You can also gain (as seems to be the case more often than not recently) on the transaction through the rising price of the cryptocurrency.

Aviod the flash crashes, and ensure you specify a minimum sale price with the chilean broker, and voila!

If anyone has done this, or does it, please let me know how it went. Thanks.

User avatar
tiagoabner
Rank: Chile Forum Citizen
Posts: 158
Joined: Sat Mar 04, 2017 9:48 am
Location: Santiago

Re: ATM fee

Post by tiagoabner » Mon Aug 21, 2017 10:10 pm

Today I went to make a payment at Scotiabank and when I arrived there I noticed I forgot to bring cash. Since I was there anyway, I withdrew at their ATM and I was very happy to find they didn't charge any fees in my card. It is a Mastercard credit card from an American bank and I am really happy with this.
I will test it again at another Scotiabank branch later this week to make sure it is their usual policy, as there are lots of branches near where I am and it will be really convenient if I can get cash from them without paying fees.

User avatar
eeuunikkeiexpat
Rank: Chile Forum Citizen
Posts: 6880
Joined: Fri Sep 01, 2006 1:38 am
Location: Megalith of unknown origin near my digs, south V Region coast

Re: ATM fee

Post by eeuunikkeiexpat » Mon Aug 21, 2017 11:16 pm

Which American bank?
Generally, just a SPAM KILLER. You are on your own in this forum. My personal mission here is done.

BUT when necessary, by way of ridicule and truth revelation we shalt do war.

--eeuunikkeiexpat

User avatar
tiagoabner
Rank: Chile Forum Citizen
Posts: 158
Joined: Sat Mar 04, 2017 9:48 am
Location: Santiago

Re: ATM fee

Post by tiagoabner » Tue Aug 22, 2017 2:51 am

Community Federal Savings Bank.

El Ping
Rank: Chile Forum Tourist
Posts: 11
Joined: Tue Dec 27, 2016 5:32 pm
Location: Pto Williams and SE Oz

Re: ATM fee

Post by El Ping » Tue Aug 22, 2017 6:46 am

I use ScotiaBank in Montt... most recent was June... Westpac ( Australia ) issued MasterCard Debit card..... no charge..... have never compared the exchange rate... must do that....

No charge if I use a UK issued Bank of Scotland debit card at Scotiabank either...

Both of my Westpac issued credit cards - Mcard/amex - incur a 'transaction fee' when used in supermercados ....

In Williams there is only Banco de Chile... so they charge...

User avatar
tiagoabner
Rank: Chile Forum Citizen
Posts: 158
Joined: Sat Mar 04, 2017 9:48 am
Location: Santiago

Re: ATM fee

Post by tiagoabner » Tue Aug 22, 2017 12:40 pm

In my case, the exchange rates for my most recent withdrawals have been:
ScotiaBank: CLP $125000, charged $201.45, bank exchange rate of 620.50, official rate for the day of 646.57, -4.03% difference between the rates. ScotiaBank charged no withdrawal fees.

Bando Estado CLP $80000 + CLP $6000 withdrawal fee, $134.76, bank exchange rate of 638.17, official rate for the day of 645.86, -1.19% difference between the rates. Charged $6000 for the withdrawal, which is included in the $134.76 I was charged.

Banco de Chile CLP $160000 + CLP $4000 withdrawal fee, $265.17, bank exchange rate of 618,47, official rate for the day of 647.59, -4.50% difference between the rates. Charged $4000 for the withdrawal, which is included in the $265.17 I was charged.

After crunching some numbers:
To withdraw $200000 today, assuming there were no changes in the bank markups over the official exchange rate, I would pay $312,43 with Scotiabank, $318,83 with Banco de Chile and $320,89 with Bando Estado. This information might be relevant, as $200000 is the maximum withdrawal value for all of these banks.

TL;DR: at this moment, for my specific case, ScotiaBank offers the best rates, as well as not charging a withdrawal fee.

User avatar
eeuunikkeiexpat
Rank: Chile Forum Citizen
Posts: 6880
Joined: Fri Sep 01, 2006 1:38 am
Location: Megalith of unknown origin near my digs, south V Region coast

Re: ATM fee

Post by eeuunikkeiexpat » Tue Aug 22, 2017 12:49 pm

Where are you getting official exchange rate of the day?

IME: both the Plus and Cirrus systems are close to the xe.com REAL TIME mid market rate. I have done experiments on the same day watching the xe.com rate and it is accurate 90% of the time within less than a percentage either way EXCEPT on large movement days when it is more a dice roll.

BancoEstado allows you to take more than $200.000 if using a foreign card. Depending on exchange rate, this could be as much as $600.000 according to previous reports (at 700 plus).

BancoEstado fee is $4.000 not $6.000.
Generally, just a SPAM KILLER. You are on your own in this forum. My personal mission here is done.

BUT when necessary, by way of ridicule and truth revelation we shalt do war.

--eeuunikkeiexpat

Post Reply