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Safest (Or least risky) ATMs


leem

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We will soon be making a trip to Ajijic.  We haven't been in the area for about five years so don't have current information about details like locations for money exchange.  We're planning to use ATMs but I'm remembering lots of reports in the past about compromised accounts, thefts, etc.  We do not have a Mexican bank account.  Can anyone suggest which ATMs are currently safest, or the least risky to use?  Or those that we should avoid?  Thank you.

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We like the ATM at CIBanco, which is in the first mall going toward Guad on the libramiento. I like the fact that the bank is open next to the ATM, so if you have a problem, presumably you can go into the bank office and deal with it. I ahve found them very polite and helpful. I have given up on the Scotia Bank ATM near WalMart--lost major money there 3x when the machine did not dispense cash but debited my account. STILL trying to fight this via my US bank whose debit card I use here. Scotia does not seem to cooperate with the investigation.

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The CI Banco ATM has the lowest surcharge at $15 pesos. It and the one at Multiva ($30 peso surcharge) across from Actinver in Ajijic both allow large withdrawal amounts in one transaction. Each will allow a $1,000US withdrawal in one shot.

There is an armed guard at the CI Banco location although that ATM is more likely to be out of money than the others. If you receive some sort of error like your daily limit is exceeded or cannot contact financial institution don't worry. It's really a local error.

Banamex ATMs also charge about $30 pesos but limits you to $10,000 pesos, at least they have had that limit in the past.

Bancomer installed several shiny new ATMs in the Ajijic branch but they have been charging upwards of $80 pesos as a surcharge.

A surcharge is a fee that the owner of the ATM adds to the amount you want to withdrawal. If you ask for 10,000 pesos at Multva the machine makes a request for $10,030 pesos converted to dollars. The surcharge does not appear on your bank statement, only the receipt. Some institutions rebate surcharges.

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Yes, always withdraw money prior to major holidays, and avoid withdrawing money on weekends and holidays, when the banking machines are likely to be out of money and having problems. My recommendation: buy a small safe, and keep at least 5,000 pesos in the safe. One doesn't know, do one???  Having alternative sources of money is important here.

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I used to use the Scotia Bank ATM but after being closed for a while they have re-opened with a new machine that takes your card during the transaction which I wont allow as I am sooooo far from home and dont want to even think about trying to get a replacement card to Mexico if it were to be swallowed.

I mainly use the Banamex terminal inside Farmacia Guadalaraja or Walmart, where the charge is about 30 pesos (do not use the other terminal in Walmart, the charge is significantly higher)

Last week I had an issue with the Banamex terminal inside Farmacia Guadalaraja where the transaction went through but the machine had no money.  Banamex refunded the $USD300 within days.

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On this visit, I'm using Bancomer at Ajijic plaza during banking hours because it's convenient to our rental and if the machine eats my card, I can get help with it immediately.    

When we lived here from 2008-2012, BOA had relationships with Santander and Scotia and we paid no fees at their ATMs.  Those relationships ended though I understand there may be some sort of relationship(s) with these banks where a portion of the non-US ATM fee may be waived in the future.  

We were in Spain in June and after getting hit with large ATM fees after our first ATM withdrawal there, I called BOA to find out if there was a bank in Spain with which BOA had a no-fee ATM relationship (was told Deutsche Bank but only some of the fees are waived).  Because others have posted here in the past that BOA customers with significant balances with them and/or Merrill Lynch are entitled to no-fee outside US ATM use, I inquired about that policy in this same conversation; I was told it didn't apply to BOA balances (no matter how high) and the rep said I should check with ML.  

In any case, during that conversation, the BOA rep said she'd have the bank reimburse us for those ATM fees in Spain (and it did) and extended to us, no-fee ATM privileges outside the US (for all fees, both BOAs and the foreign bank's fee) at any ATM out of US,  for 3 months.  And that was honored for the rest of the time in Spain and so far in Ajijic since July 1st.  Small victory, but I'll take it. 

Should we decide to relocate back to Ajijic, we will of course look into banks/financial institutions that never charge overseas ATM fees, such as Capitol One 360.  

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None of my cards charge me for using an ATM, and I have found that the ATM fees charged by the ATM owner are very small in comparison to the difference in the exchange rate I get depending on the card that I use. The various banks' ATMs that I have used do not appear to be a factor in the exchange rate.

I am refunded ATM fees by the institution that issued one of my ATM cards, but the exchange rate is so unfavorable compared to my preferred card that, even paying the ATM owner's fee, I am ahead on any withdrawal over about US$20.

 

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  • 2 weeks later...

I noticed that jump too at Multiva.

The other oddity, at least the last couple of times I used the machine, is that if you press yes for a receipt the machine cancels the transaction. By selecting no the machine completed the withdrawal.

Maybe that's a subtle way to prevent you seeing the surcharge that is printed on the receipt. You have to see and accept the charge on the screen. Or maybe the ATM was out of receipt paper.

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23 minutes ago, Mostlylost said:

We haven't had a lot of ATM skimming here, but when I use an ATM that is open 24 hours I always open bluetooth on my cell and search for connections. If you see " Free2Move "  as an option the ATM is sending your information to someone. Big problem in tourist areas.

Interesting, thanks for the tip. I will give it a try here in PV. We have not had any problems but always willing to learn new tricks.

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3 hours ago, Mostlylost said:

We haven't had a lot of ATM skimming here, but when I use an ATM that is open 24 hours I always open bluetooth on my cell and search for connections. If you see " Free2Move "  as an option the ATM is sending your information to someone. Big problem in tourist areas.

Good info

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The Banorte ATM machine at Soriana charges a fee that goes to Soriana.  There are two other Banorte machines:  one at El Torito which sometimes won't take your PIN number because the keys don't work.  However, if you smack the keyboard with your fist a couple of times it will work. (this was explained to me and it works) the other ATM is at the OXXO in Ajijic, next to Intercam.

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