Beware. Bank of America just instituted outrageous transaction fees outside of US

[cbayer]

I had researched this before coming to Mexico and found they had an Alliance Bank where you could use the ATM's with no charge from either the Mexican bank or BOA.

Cool! Worked great!

Until last week, when I was hit with a 3% transaction fee. Not just on my ATM withdrawal but on every single purchase I had made with my card.

Apparently they put a notice in their October statements. Great, I don't get a paper statement.

They refunded the amount charged to the ATM withdrawal, but intend to impose it from now on.

I'm not going to pay 3%. No way. I'm going to find another bank or have someone send me cash and exchange it down here.

Absolutely outrageous.

[Fridays Child]

1. Hmm. Cash is the only way to go, I guess.

My daughter ran into the same problem in France, last winter. Just be careful and stay alert. Do you have a money pouch that you can carry under your shirt?

[cbayer]

2. My problem is getting the cash.

I have some visitors coming and asked that they bring me some.

I'm switching all my accounts to Charles Schwab Bank as we speak. They charge nothing for using your ATM/debit card outside of the country.

I do have a money pouch and will use it once I get my hands on some cash.

[uppityperson]

3. United Air just upgraded their visa cards, if you have one call and ask to get to Explorer card as

it has zero on foreign transactions. Of cours they charge an annual fee, being an airline card, but if you need or get one, it is good having no foreign transaction fee.

Thanks for the notice, will need to check my one old bOA card.