chapalence Posted February 7, 2020 Report Share Posted February 7, 2020 2 hours ago, lcscats said: All of this is why I have a BBVA account and only use BBVA cash machines. They can't point fingers elsewhere. Use XE or Zoom to move money from US to BBVA. While I use my free account in which I keep a small balance at BBVA as a means to utilise their excellent app for paying bills and for transfering to pay my BBVA credit card when it is due, I NEVER withdraw money there. I ceased depositing there from my US account when I saw how awful the rate they gave me really was. They almost always have the worst exchange rate of any of the local banks! I usually make two withdrawals each month and the difference between withdrawing at HSBC and BBVA can be as much as $30USD per withdrawal for the same amount of pesos. For those who firmly believe your rate is set by your US bank, that is simply not the case. This has been verified by the bank manager at BBVA Chapala and is backed up by the new screens appearing at various banks that ask you to accept or decline the conversion rate. There are apps to check the daily rate set by the Mexican banks, so you can check how much they will give you in pesos per dollar and decide which bank to withdraw from. Quote Link to comment Share on other sites More sharing options...
Drew Posted February 7, 2020 Report Share Posted February 7, 2020 I am dealing with this situation right now.I used the ATM at CI bank.Using my debit card from my Costa Rican bank.It has been 2 months and still no refund.Everytime I check on it they say it's going to take more time.I filled out a form that Visa supplied to my bank.My bank said that dealing with Visa directly takes a lot of time.Who knows if I ever will see the money. Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted February 7, 2020 Report Share Posted February 7, 2020 5 hours ago, chapalence said: While I use my free account in which I keep a small balance at BBVA as a means to utilise their excellent app for paying bills and for transfering to pay my BBVA credit card when it is due, I NEVER withdraw money there. I ceased depositing there from my US account when I saw how awful the rate they gave me really was. They almost always have the worst exchange rate of any of the local banks! I usually make two withdrawals each month and the difference between withdrawing at HSBC and BBVA can be as much as $30USD per withdrawal for the same amount of pesos. For those who firmly believe your rate is set by your US bank, that is simply not the case. This has been verified by the bank manager at BBVA Chapala and is backed up by the new screens appearing at various banks that ask you to accept or decline the conversion rate. There are apps to check the daily rate set by the Mexican banks, so you can check how much they will give you in pesos per dollar and decide which bank to withdraw from. ATM international rates are not set by your bank nor the ATM where you withdraw (if you do not select to use the banks offered rate on some atm's) Exchange rates are set daily by the interchange system your card uses IE: Cirrus, Star, Plus, Interlink (it's on the ATM & the back of your card) and managed by the card company Visa or Mastercard. You could go to any ATM using the same interchange system on the same day and the rate is identical. Only difference is ATM fee and if you make the mistake of choosing the different rate on some ATM's screens. Just as at a point of purchase the rate is set by Visa or Mastercard and not the bank that handles the merchant's terminal You can see the Mastercard and Visa rates online https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html https://usa.visa.com/support/consumer/travel-support/exchange-rate-calculator.html/ If you want to ask the BBVA manager ask them how BBVA sets daily exchange rates for 150 different currencies like the Afgan Albani or the Batwesana Pula or the the Nepalise Rupi for example. 2 2 Quote Link to comment Share on other sites More sharing options...
mudgirl Posted February 8, 2020 Report Share Posted February 8, 2020 13 hours ago, cedros said: It doesn't matter where they are if they are in a bank or a Supermarket-the same rules apply. I meant exactly what lcscats said. 12 hours ago, lcscats said: All of this is why I have a BBVA account and only use BBVA cash machines. They can't point fingers elsewhere. Use XE or Zoom to move money from US to BBVA. Quote Link to comment Share on other sites More sharing options...
lcscats Posted February 8, 2020 Report Share Posted February 8, 2020 To clear a point. I use XE or Zoom to do money transfers to BBVA. BBVA in this situation does not have anything to do with exchange rates the money transfer company sets those. XE has a better rate but Zoom does it faster. Pick your need. Quote Link to comment Share on other sites More sharing options...
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