... in response to Re: Non-Visa, posted by Peter Lee on Feb 18, 2003[This message has been edited by Dave H]
Hi Peter,
It is really very simple, but you just have to watch the extra fees...like balance inquiries. Also each time she attempts to withdraw cash there is a fee, even if she doesn't get any. So if she has withdrawn all of the available money, then tries to get another P5000, then P 1000, then P500, etc, you will be charged a fee per transaction. If she does a balance inquiry in between transactions, it will be double the fees. I think the fee per transaction is called an "out of network fee." Ours is $1.25 per transaction. It is like when you use a Washington Mutual ATM card at a Bank of America. Better just to say there is P5000, P10000 or whatever the amount and have her limit it to that. Explain the extra fees. Each transaction is usually limited to P5000 or roughly $100. $200 would cost you $2.50 as opposed to $22 with Western Union. That would go a long way in your ladies pocket. Sometimes banks wave extra fees (minimum balance, limit on number of free withdrawals, etc.) if you have other accounts, direct deposit, or have an amount automatically transferred into the account each month. You may have to negotiate a little bit. Also banks may try to talk you into extra services you don't need because they don't really understand what we are doing. Like Bear and Honey, we have found that it works great and saves a lot.
Dave H.
