Thursday, June 16, 2011

Santander Bank

It is my understanding that Santander is the largest bank in the Eurozone. Therefore some of you reading this may recognize the name. I myself had never heard of them until we moved to Mexico. The reason I bring it up is this.....If you are a Bank of America customer in the United States then do your ATM withdrawals at Santander ATM's and bank branches. It's Free!!!!!

When we found this out we started saving about $50 per month in ATM fees. If you do a $7,000.00 Peso withdrawal at Banamex it will cost you about $11.00 USD in ATM fees. I am not sure if other banks in Canada or the U.S. have this type of arrangement with a Mexican bank but at least BofA does. The only drawback is that Santander will only let you take out $6,000.00 pesos per withdrawal in a 24 hour period. I have taken out more than twice that much on some occassions at other banks, specifically the one aforementioned but not at Santander.

Just a word to the wise. Hope this helps.


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