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Latest on international ATM card Surcharges


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musicman666

I'm now using a combination of a UK based HSBC Advance account and a local BPI account for bills. The HSBC Advance account costs me 12.95 GBP a month in the UK, and then you have no transaction fees on any withdrawal in a Philippines (Foreign ATM), and also can withdraw over the counter in any worldwide HSBC Branch.

Transfers from HSBC UK to BPI Account are charged at 17 GBP per transaction, which is fairly reasonable for larger transfers.

 

I also concur that HSBC allows 40,000 PHP withdrawal, have no tried it sucessfully. Sorry about the earlier erronous information.

 

the thing about HSBC is that they do charge but you dont see it... they just get there money by giving below par exchange rates on the transaction.

 

and as for the 40k or 20k limit .. it all depends wether the machine has been loaded with 1k or 500p bills... so its random luck on what the staff put in there.

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It's actually 40.000. But if you go late afternoon it might be limited to 20 or 30K. There is also HSBC in AS Fortuna, close to the Banilad flyover. 40K limit also there.   I noticed that the ATM(Me

As of the 18th of Sept 2010 BPI charges 200 P srvc charge on international cards!   Metrobank 150P China Bank 150P   Bank of Commerce wouldn't accept my card.   Union Bank would not accept the

RogerDuMond

Well, it looks like there are going to be no fee-free banks for international ATM cards by the end of the month (unless you have some kind of arrangement like an account at that bank, etc.).

 

So I guess the short term strategy is to focus on 150 peso fee ATMs instead of the 200 pesos fee ATMs and to focus on ATMs with the highest withdrawal limits. The longer term workaround is, of course, to get a local bank account.

 

Tomas

 

With a Premier account, HSBC rebates other banks ATM fees to your account.

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Jim Sibbick

the thing about HSBC is that they do charge but you dont see it... they just get there money by giving below par exchange rates on the transaction.

 

and as for the 40k or 20k limit .. it all depends wether the machine has been loaded with 1k or 500p bills... so its random luck on what the staff put in there.

I have been withdrawing P40,000 at a time from the HSBC ATM machine on C. Rosales avenue for years without any problems but I don't bother going there on Sundays, middle or end of the month.

 

It has been a year but i have been happy with the exchange rate at HSBC. It is better than what I can change my Aussie dollars for in Cebu City.

 

The BPI ATM machine is set up a specific way. It has 2 cartridges. One with P500 notes and one with P1000 notes, If they are loaded in the wrong way, the machine will think it is dispensing P1000 notes when it is really dispensing P500 notes. So it is not choice of the day what the staff will load. They put in the 2 cartridges. One with P1000's and one with P500's.

 

If you ask for P40,000 you will get 40 x P1000 notes. Provided the daily withdrawal limit set by your bank allows it. The only exception to this is if the machine is running low on P1000 notes. Then it starts dispensing P500 notes instead and limits withdrawals to P20,000.

 

I have my daily withdrawal limit set at AUD $1200 so I can always get P40,000, so long as the rate does not drop too much and so long as the HSBC ATM machine is not low on P1000 notes.

 

Regards; Jim Sibbick

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I withdraw from BPI using my paypal card and dont get charged a dime.

 

Most of these fees are bank specific. Some fees are from your card provider.

 

 

As of the 18th of Sept 2010 BPI charges 200 P srvc charge on international cards!

 

Metrobank 150P

China Bank 150P

 

Bank of Commerce wouldn't accept my card.

 

Union Bank would not accept the same card either..

 

Paypal Card? Is that a credit card issued through Paypal?

 

Thnx

Yes, paypal will issue you a card for your paypal account. I think they charge a 1% foreign transaction fee plus $1 per withdrawal. I have read before that their currency conversion rate does not seem to be as good as other cards, but I am not sure about that (maybe I am mixing up card withdrawal rates with people who were using paypal monies to buy something in another currency and not getting a good conversion rate).

 

Tomas

 

 

THANK YOU TOMAS!

 

I called the bank that issued the ATM Card. It has "PLUS" on the back just like my Union Bank ATM has so it should work. I'm off to Union Bank Customer Serv to see what went wrong.

 

How about HSBC??

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Jim Sibbick

I withdraw from BPI using my paypal card and dont get charged a dime.

 

Most of these fees are bank specific. Some fees are from your card provider.

 

 

As of the 18th of Sept 2010 BPI charges 200 P srvc charge on international cards!

 

Metrobank 150P

China Bank 150P

 

Bank of Commerce wouldn't accept my card.

 

Union Bank would not accept the same card either..

 

Paypal Card? Is that a credit card issued through Paypal?

 

Thnx

Yes, paypal will issue you a card for your paypal account. I think they charge a 1% foreign transaction fee plus $1 per withdrawal. I have read before that their currency conversion rate does not seem to be as good as other cards, but I am not sure about that (maybe I am mixing up card withdrawal rates with people who were using paypal monies to buy something in another currency and not getting a good conversion rate).

 

Tomas

 

 

THANK YOU TOMAS!

 

I called the bank that issued the ATM Card. It has "PLUS" on the back just like my Union Bank ATM has so it should work. I'm off to Union Bank Customer Serv to see what went wrong.

 

How about HSBC??

HSBC accepts PLUS

 

Regards: Jim

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