For ATM withdrawls, the refunded fee has always shown up on the same day as the debit, as a separate line item. If you have made multiple withdrawls on a single day, the refunded fees are sometimes aggregated, but they always show up at the same time as the debit.

Ziobacio, when did you use the ATM, and what was the exchange rate (if you subtract the 11.46 pesos surchage)?

I used my Schwab Platinum card yesterday, but the debit won't be posted to my account until tomorrow (Tuesday).

John

Interesting. When I do an ATM withdrawal (with Schwab or anyone else), I can see it immediately online, rather than the next day.

The total withdrawal including ATM fee gives an exchange rate of 3.79. Add back the $3, and it's 3.846.

My question is, on the initial withdrawal, is the ATM fee a separate line or rolled into the total?

I'll post an update if CS refunds my ATM fee.

Edited to add: I finally did the obvious :-) and went back and looked at my older CS ATM transactions. It appears that the total withdrawal amount includes the ATM fee (no separate line item) and the fee is refunded during the end of the month processing.

I'll try my Fidelity ATM card next. Their exchange rate is similar, and they usually refund the ATM fee within a day or two.

Ziobacio, I have a different Schwab account than you. I have a Schwab One brokerage account, so when I make an ATM withdrawl, funds have to be moved out of an investment vehicle. Hence the need to reconcile funds (which happens early the next morning).

Weekend transactions always take until Tuesday morning to be reconciled and posted.

John

Ah, that explains it then. I have the Schwab One brokerage, but so far I've only used it to suck up the 2% rebate from the credit card. I transfer that over to my CS checking and then spend it. :-)

Related subject-- A client just told me that the best possible FX rates are offered to Amex Centurion Members... and no fees. Can anybody confirm this...? I dont know all the details, but it seems like it works like a sort of cash advance. I find this hard to believe... but then, maybe Amex does this for 'some' Centurions..????

Ziobacio, I checked my Schwab One account online this morning, and it appears that the transactions have the access charge rolled into the total. I called Schwab customer service this morning, and they confirmed they can't see any separate ATM charges. They made a note in my account, and will alert the appropriate department for reconciliation. They will rebate my charges, although I may have to email them copies of the ATM receipts if they can't access the info via the bank network.

So remember to keep your ATM receipts since they list the access charges.

John

The Banelco and LINK networks in Argentina have reported that they have increased their ATM limits to $1000 (that's pesos) per transaction.

This morning I was able to withdraw $990 x 2 with my Schwab debit card on the Banelco network. Amounts over $1000 were not permitted. I didn't need any more cash than this, so I don't know what the limitation is for the number of consecutive transactions.

The Schwab limit on my card is US$500 per transaction, and a daily limit of US$1000.

John

Thanks for the additional info. I also tried my Fidelity VISA debit card at Banelco, the same ATM in fact, and got exactly the same results: total withdrawal amount with no separate ATM fee. FYI, both Schwab and Fidelity had exactly the same exchange rate.

I've contacted Fidelity (which, like Schwab, refunds all my ATM fees) and as you suggest, I've saving receipts.

It appears that the problem is that the ATM networks here do not process the ATM fee properly, so that banks in the US do not know how much is withdrawal and how much is fee.

I'm cautiously optimistic we'll get the ATM fees refunded, but it may take some work rather than being automatic.

Edited to add: I got an email answer from Schwab (prompt!) that sometimes overseas data feeds do not break out the fee. If the ATM is not refunded automatically at the end of month sweep, they will do the refund manually.

As another datapoint on this - HSBC Premier Customer services told me they ARE refunding the EQVUS$3 fee for Premier Customers when using HSBC machines. They are supposed to be refunded automatically with each month or statement cycle, although in my experience it hasn't happened automatically yet. Within a day of the phone conversation, a manual credit had been applied to my account that covered each of my withdrawals from HSBC machines in BA, but did not cover the equivalent fee at non-HSBC machines. If I don't see an automatic credit following my next statement cycle, I'll call in again and get it credited manually.

I am somewhat relieved that HSBC is choosing to refund this fee for their Premier customers, although it is a minor inconvenience that I won't be able to use other banks' ATMs indiscriminately as I did before...

Update:I returned to the US a couple of weeks ago, and my end of month statement from Schwab didn't show any rebate for the ATM charges. I called Schwab again, and they told me to mail in a copy of the ATM receipts. I did this, and my account was credited a few days later.

I got charged $A12 for an ATM in BA today. :mad:

11.56 or so is what I got charged the last months at all ATMs in Argentina. Make sure to always get $A900/990 per batch and use cash as sparingly as possible.

Anyone here know if my experience today was a one-off, or if it seems the fee has gone up to US$4 within the last few weeks...

The machine at my nearest HSBC (which I always use, as they have been refunding my fees as long as I use their branches) added $15.50 instead of the usual $11.60 or so...

Is this a new policy for all machines/banks, as with the change last July?

The last transaction I had was on February 21, and the fee was $11.61 (US$3.01 when credited back to my Schwab account).

John

Having had to use a lot of ATMs in the last few days in BsAs (those pesos don't last long!), the ATM fee has been $11.62 with ONE major exception. The CitiBank opposite Gallerias Pacifico has 2 types of ATM machines; one is linked to Banelco and charges $11.62 and limited my withdrawal to $900; the other type of Citibank ATM (non Banelco) had NO fee, and I could withdraw $1500; I didn't try any higher as I knew I can easily come back here as needed. HSBC ATMs limited me to $700 per withdrawal and charged $11.62 for the privilige:rolleyes: