ATM´s in Colombia, Brazil now charging transaction fees

Has anyone else noticed this? Since last year ATM´s in Colombia, Brazil and a few other places down yonder are now charging transaction fees. Even my credit cards add "international service fees" each time I make a purpose. This never happened before. One example, today at Citibank I was hit with a $6 real transaction charge after debiting about $1K reais. I´m told the fee is 10% of the debit/credit amount.

Any information would be greatly appreciated.

-Thank you

[El Capitan]

Ray, take a look at this article. I think it has the information you're looking for, along with some posting on the subject...

P


http://blog.washingtonpost.com/thech...traveling.html

[Tinto]

I use a credit union Visa debit card to withdraw money from ATM's in Colombia and they do not charge any fees for doing so.

[Lostagain]

Bank of America charges a transaction fee for ATM withdrawal in other countries. Every time we take out $ in Co. there is a fee they call "international service fee." Citibank does it on regular credit card transactions too. Where there is an opportunity to make money, the banks will do it.

Man that spell check is great!!!

I guess Banks in the U.S. are catching on to things. I don´t remember seeing these fees 3, 5 or 6 years ago. Here are two more good links on the subject. Tinto, I think in due time, your credit union card will also start charging these fees.

http://www.travelfinances.com/Servic...comparison.htm

http://creditcardperks.webgroups.biz...pic.php?t=8429

Gentlemen -

The last year or so I am still getting hit up with FTFs or Foreign Transaction Fees. One example, a charge of $153.51 on my MasterCard, I was charged $6.73 and it's the same debiting money from my ATM checking card. I've consulted with a few experts on this and word on the street is that in due time all banks will be applying FTF surcharges so there's no valid reason to switch to say Capitol One.

I am curious to know how other guys are handling FTFs?

-Thanks

[GrizGator]

Well, maybe ALL banks WILL EVENTUALLY charge those fees. But right now Capital One does not. I got the credit card last year specifically to use in Colombia. Not only do I not get any foreign transactions fees, but it get points that I can use for a variety of things. I'll continue to use them until such time as they charge fees (and would only switch if I can find another bank that does not charge the fee).

As for ATM withdrawals....I have been getting a charge of 1% when I use my ATM or Visa debit card. The way the charge appears on my statement, it seems to come from the Colombian bank, not from my credit union.

I don't know that there is much to do. One way or the other, you're like to pay a fee. I guess the key is to determine which is the cheapest fee and pay that - right now that means the ATM/Visa debit fee is lower than most credit card foreign transactions fees.

Griz

Originally Posted by Gringos.com

Gentlemen -

The last year or so I am still getting hit up with FTFs or Foreign Transaction Fees. One example, a charge of $153.51 on my MasterCard, I was charged $6.73 and it's the same debiting money from my ATM checking card. I've consulted with a few experts on this and word on the street is that in due time all banks will be applying FTF surcharges so there's no valid reason to switch to say Capitol One.

I am curious to know how other guys are handling FTFs?

-Thanks

[Tinto]

Griz, you are correct. I have a Visa debit card with a credit union and I used to be able to withdraw money from ATMs out of my account without any associated fees. However Visa started to charge a 1% fee last January on foreign transactions to the CU which they in turn decided to pass on to the debit card user.

I wonder if a CU that issues a MC debit card charges the same fee? I will check on this and report back to the board.

[Ciza29]

Never trust those greedy thieving *******s at Citigroup. They charge outrageous fees for everything.

Did I mention I work from them?

Thanks Guys....

I could call Capitol One but I am hearing the'll start charging the FTFs soon; like next month. I guess everyone wants a piece of the ****ing pie nowadays. I remember back five years ago, I had no surcharges of any kind, credit card, ATM, Diners, whatever, on top of that the Real and CP was 4/1 on the dollar. I was living like a Boy Scout at Camp!