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Are bank ATMs safe and what do they charge?

In cooperation with: Visit Mexico
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Are bank ATMs safe and what do they charge?

Have heard some horror story's of late about ATM rip offs. Was thinking that the bank ATMs should be safe in cabo?????? And also what fees are charged at the ATM?

Are there many banks in cabo that have ATMs?

If you don't use them at all what are the options for useing/getting your spending money in cabo?

Guaymas, Mexico
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11. Re: Are bank ATMs safe and what do they charge?

Word of warning not specific to Cabo: BofA has not been honoring the no fee agreement w/Santander and many people have complained on the San Carlos forum that they are being charged a 3% foreign transaction fee. Check w/your own bank to see what the foreign transaction fee is. My credit union is 1% plus the 27 pesos the HSBC ATM machine charges. For me the ATM route is still the most economical and easiest.

Puyallup, Washington
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12. Re: Are bank ATMs safe and what do they charge?

I was in Cabo last month and wa not charged a fee at either Santander or Scotia Bank and we are B of A customers?

Olympia, WA
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13. Re: Are bank ATMs safe and what do they charge?

I just wanted to update this thread with results from a few days ago. Like househunter1584, I used the Scotia Bank ATM in CSL to withdraw money in November without any charge since they were part of the BoA international network. I just returned a few days ago and checked my BoA account for details of ATM withdrawals for this trip. I made two withdrawals at the same Scotia Bank as last month and was charged 3%. The statement said is was an international transaction fee for accessing an ATM out of network.

I'm not really sure what is going on here. Scotia Bank is still shown as part of the BoA international network, but the locations they note are only in Canada and the Caribbean. There is no mention of Scotia Banks in Mexico being part of that network. The BoA website also implies that even though there are no ATM operator fees or non-Bank of America international ATM fees for using international banks in the network (like Santander Bank in Mexico) that international transaction fees of 3% for converting your currency may apply.

I guess a call is in order. Nevertheless, it looks like they have figured out a way to charge us something. Not really a surprise!

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14. Re: Are bank ATMs safe and what do they charge?

Yes I've done my homework since posting this question. My bank and most other banks will charge a out network ATM fee and 3% money conversion fee then on top of that your going to pay the atm's bank fee. Everything said and done your looking at paying 6to8 % for the convince of using the ATM. Personally I'm going another route. These banks are always changing their fees you have to be on your toes.

Olympia, WA
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15. Re: Are bank ATMs safe and what do they charge?

In my case it will be 3% as all the charges are in. Despite this fee I still got an exchange rate of 13.3 pesos/dollar (including the 3% fee) which is far better than the rate that my bank was going to sell pesos to me before I went - 11.8 pesos/dollar.

16. Re: Are bank ATMs safe and what do they charge?

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