December 2nd they said they would start charging 3% for overseas non-Citi ATM transactions.

On Thursday, the 7th I did an experiment.

Real time xe.com mid-market rate before I left home: 524.700 CLP/1 USD

Non-Citi ATM transaction for 5000 CLP done 35 minutes later.

Real time xe.com mid-market rate when I returned home two and half hours later: 524.700 CLP/1 USD

Today on my online statement the breakout:

12-07 FOREIGN FEE $ 0.10
12-07 CASH WITHDRAWAL AT NON-CITIBANK ATM $ 9.51

This is still 1% folks (actually better than 1%). I told you I thought it was impossible for Citibank to implement something like this in a matter of a couple of months.

Chao.