ATM - Access to Cash
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I have an account here on the mainland. I am going to need to access cash while away. Does anyone know what the ATM withdrawal limits are and/or the fees? Has anyone gotten cash back on a debit purchase at K-Mart in Tutu and/or knows what the limit for that is?
Assuming you do not have an account at a USVI local bank, how do you withdrawal money while away if you do not want to bring all of it in one shot? We typically use our credit card for some dining and for food shopping, but as you know, there are MANY places on island time who just don't take credit cards, especially places for watersports & some boat charters.
In doing some of my own research. For Bank of America accounts (there are more banks affiliated with this Global ATM Alliance)
Use your Bank of America ATM or debit card at one of our International partner ATMs and avoid the Non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiry as well as the ATM operator access fee.
Scotiabank (Canada, Peru, Chile, and the Caribbean countries: Anguilla, Antigua & Barbuda, The Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Dominican Republic, Grenada, Jamaica, Antilles, St. Maarten, Puerto Rico, Saint Kitts & Nevis, Saint Lucia, St. Vincent & The Grenadines, Trinidad & Tobago, Turks & Caicos Islands, US Virgin Islands)
Bank of America will assess an international transaction fee of 3% of the converted US dollar amount.1 Foreign ATM operators may offer to do your currency conversion for you, but they may charge a higher fee for conversion. To insure that your currency conversion does not incur a fee higher than 3%, you may refuse the ATM operator's offer to convert the amount of the transaction.
Your foreign currency and travelers cheques are ready when you are.
Bank of America helps you with your foreign currency and travelers cheques needs. Use our secure, convenient, online service to:
Sign in and purchase up to $10,000 of foreign currency a month. For customers not signing in, orders are limited to $500 in foreign currency a year.
Check daily foreign currency banknote exchange rates.
Calculate the value of your currency before you exchange money.
1 Due to your account relationship, your account may not be assessed the international transaction fee "
On Scotiabank's website:
"Global ATM Alliance
Pay no surcharges or access fees when you withdraw cash at certain member bank's banking machines.
Scotiabank is proud to be a founding member of the Global ATM Alliance, along with Bank of America, BNP Paribas, Barclays, Deutsche Bank 24 and Westpac.
When traveling abroad, you can withdraw cash or take a cash advance from your pre-selected deposit accounts1 or VISA* card at over one million ATMs displaying the VISA or PLUS symbols worldwide.
Look for ATMs that belong to the member banks (1mb) of the Global ATM Alliance and avoid paying surcharges or international access fees on your account from nearly 50,000 cash machines in over 40 countries, including Australia, France, Germany, United Kingdom or USA.2"
Despite the fact it is a US Territory with US dollars and nothing to "convert" they will still assess a 3% international transaction fee. Super annoying to pay $30 on every $1,000! I really don't want to travel with large amounts of cash, but I don't want to pay 3% everytime I take money out, either.
*Update* I called BOA and there is a way that they can put a waiver on an account so that it does not incur the 3% fee. It is good for 60 days.
I think ATM withdrawals are limited to $300 - $500 per day. Have no idea of associated fees for this.
Yes. $500 per calendar day (not business day) ATM withdrawal limit, at all ScotiaBank locations.
You can use your debit card to obtain cash back at Kmart in town and Tutu when making a purchase at one of those locations.
I don't know the maximum cash amount you can withdraw with each purchase and/or limits.