ATM Machine Fees in Brasil?

ExpatUSATravels

Contributor

Member since 07 March 2023

ExpatUSATravels

15 August 2023 23:04:12

103

ExpatUSATravels

15 August 2023 23:04:12

103

I did a test today to see if I could take money from ATMs in Brasil.

I tried Banco do Brasil --- nothing - would not let me.

Then I tried ITAU - same thing. It just spun in circles and said wait a moment.

Then finally I tried Santander - it seemed like it would have worked, but after I entered the amount I wanted to take it then told me that there would be an "EXCHANGE FEE" of 20 BRL.

I canceled the transaction because, I did not know if that is what the "machine transaction fee" is.

I never saw it called "Exchange Fee".

My bank gives me back the "international transaction fees of the fixed machine price" at the end of every month so I do not mind as long as I know that Brasil calls it an Exchange Fee.

I am guessing yes, but wanted to check here first.

Did anyone here use SANTANDER to take BRL cash money from their machines?

Please let me know.

Example: in Mexico they call it something that i understand to be the ATM fee to use the machine which is fine and usually only is equivalent to about $1.50 USD. But in Brasil would be $4 if that is what it is.

Hope to hear back from someone soon here, and want to try again tomorrow to take money since I canceled the transaction today.

Thanks

rocade

Active member

Member since 02 August 2023

rocade

15 August 2023 23:29:12

rocade

15 August 2023 23:29:12

Sorry this is not an answer to your question, but here is my experience:

From what I understand, most banks form a cash machine union as "Banco 24 horas" and these ATMs tried to charge me for withdrawals, so I never completed a withdrawal with them.

However Bradesco ATMs, which are not part of this group, never charged me any ATM fees with any of my cards.

Their withdrawal process is a bit tricky though, it will at some point ask you if you accept the conversion rate, you should say "Cancel/Reject" and then it will let you continue without the dynamic currency conversion rate* (ie. your own bank will decide the conversion rate)

But I remember reading here other people had different experiences with Bradesco so maybe their (lack of) fees just depend on your bank.

* I guess dynamic currency conversion (DCC) should almost always be rejected be it on an ATM, online or at a shop/restaurant, unless your bank charges you very high fees for foreign transactions.

JosephJJ

Member

Member since 05 July 2021

JosephJJ

15 August 2023 23:36:00

JosephJJ

15 August 2023 23:36:00

Last time I withdrew money at an ATM in Brazil with my British card, I was charged an absolute bomb fee for a cash withdrawl. Much better off going to a currency exchange and doing it that way unless you don't mind the big fee...

ExpatUSATravels

Contributor

Member since 07 March 2023

ExpatUSATravels

15 August 2023 23:55:59

103

ExpatUSATravels

15 August 2023 23:55:59

103

@rocade Yes I agree. I always decline the conversion fees which are downright stupid. They are so high. My bank will handle the mid market world rate and then I think visa or mastercard whichever debit card you use will charge you "always" about 1.2% which isnt too bad.

However my bank refunds all the fixed ATM machine fees which are usually a fixed rate that equals to about $1 - $5 USD.

I just found out that my bank uses the PLUS and MoneyPass system. Most machines in the world have PLUS built in so that is good to know.

Declining the dynamic conversion fees are tricky. It can be easy to say yes and accept it by accident if you do not concentrate.

I say this because you must accept the fixed ATM fee first in order to get to the conversion fee screen.

So it is always Yes for ATM fee and then NO for conversion dynamic.

It should be illegal for countries to convert your money at an ATM machine, due to the fact that your bank will give you the mid market rate which they do not make a profit on - as far as I understand it.

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