NJ Bank Agrees To Reverse ATM Fees Incurred in PR

We'd been using our Peapack-Gladstone Bank ATM card for years in PR. ATM fees incurred with these transactions had been reimbursed, same as with any other bank we used for ATM withdrawal in the USA.

Until a year and a half ago. Recently we noticed that only $1 had been reversed for any ATM transaction performed at either Banco Popular. That $1 was a reversal for the fee charged by our bank, Peapack-Gladstone. The remaining fee, charged by Banco Popular was not reversed (as it had been before that).

We inquired at the local branch of our bank and they explained that ATM fees from foreign banks are not reimbursed. We explained that Puerto Rico is part of the United States and in fact we had been reimbursed until a year and a half ago. They then stated that they only reimburse the charge that the other bank transmitted to them ($1 - which was really the fee that THEY and not the other bank charged us). Then we were gruffly told that the matter would be investigated. Evidently the local branch was clueless about all this and didn't want to be bothered.

We heard nothing about the so-called-investigation, so we went to the administrative offices of the bank to follow up, and explained again.

Upon examining my account online this morning I see that $54 had been added to our checking account for "REFUND OF ATM FEES INCURRED IN PUERTO RICO ".

This episode exemplifies  the unique and ill defined relationship of Puerto Rico and the United States Of America. To quote a young man I encountered in a coffee shop, "Is Puerto Rico part of Cuba?"

Victor: The ignorance of some people never ceases to amaze me -- "part of Cuba" (shakes head).

Yea, US citizens know more about Cuba than about Puerto Rico. Schools do not teach about Puerto Rico either which does not help. Obama's trips and arrangements with Cuba will make it worse.

US government is in for an awakening reference Cuba and PR, but that is for another day.

All ours ATM fees on our BBV checking account incurred in PR are refunded to us by the bank. Some of the ATM fees were $6 for a $500 withdrawal so I was pleasantly happy with our bank. Most of the time we just transfer money to our locan bank account but it takes up to a week to show the transfer.

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