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Post by wildstubby on Sept 1, 2018 6:28:15 GMT -5
barrumundi said:
That would be the ideal thing! A whole 'world encompassing' bank. Where your money is available at any rate anywhere. With electronic transfers why not? But of course, big banks need a big 'diet' to keep getting bigger. So skim here, skim there, it almost makes it financially unsound.
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Post by caliorbust on Sept 1, 2018 8:05:15 GMT -5
Baru and Stubby, thanks for trying to help but the Citibank division in Colombia is history. Scotiabank/Colpatria finalized the purchase a couple of months ago.
Regardless, the only advantage I ever had between Citibank USA and Citibank Colombia was and still is - no ATM fees, as they were separate entities and had no banking connection with each other.
I looked into getting a Chase card by applying online from a foreign country. They will comply (CapitalOne doesn't) but have two requirements, a $25.000 initial deposit and utility receipts no older than six months. My problem is, I only have receipts for Phone/Internet (which don't count by Chase) as water, gas and power utilities are in my landlords name. I could have that changed but we're looking actually at this moment for a place in a more suitable location.
So there may be light at the end of the tunnel.
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Post by caliorbust on Sept 1, 2018 12:46:37 GMT -5
Just came back from the ATM and got 2957 with today's fantastic TRM rate of 3053 at Colpatria with my no fee Citibank card. Maybe I'm getting charged through the backdoor for not paying a fee?
I wanted to make a withdrawal too at the BBVA ATM to compare rates even by paying a fee but the line was a mile long, I will try again tomorrow.
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Post by Deleted on Sept 1, 2018 13:24:58 GMT -5
Just came back from the ATM and got 2957 with today's fantastic TRM rate of 3053 at Colpatria with my no fee Citibank card. Maybe I'm getting charged through the backdoor for not paying a fee? I wanted to make a withdrawal too at the BBVA ATM to compare rates even by paying a fee but the line was a mile long, I will try again tomorrow. Are you using the regular Colpatria ATM? or are you using Scotiabank/Colpatria? There is a big difference in the rate you will recieve. Don't ask me why, when I used the the Scotia/Colpatria ATM I got a lousy rate. |
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Post by scumbuster on Sept 1, 2018 14:15:17 GMT -5
I am walking down to the Davivienda ATM later to see what I get.
But I hate only getting 400,000 each time.
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Post by caliorbust on Sept 1, 2018 14:17:45 GMT -5
Didn't know there is a regular Colpatria bank and ATM anymore, I used the Scotiabank/Colpatria ATM which used to belong to Citibank a couple of months ago.
Thanks, premo, for letting me know.
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Post by Deleted on Sept 1, 2018 14:22:03 GMT -5
Didn't know there is a regular Colpatria bank and ATM anymore, I used the Scotiabank/Colpatria ATM which used to belong to Citibank a couple of months ago. Thanks, premo, for letting me know. Just took 900,000 pesos for $297.29. |
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Post by sedelen on Sept 1, 2018 14:31:10 GMT -5
Just came back from the ATM and got 2957 with today's fantastic TRM rate of 3053 at Colpatria with my no fee Citibank card. Maybe I'm getting charged through the backdoor for not paying a fee? I wanted to make a withdrawal too at the BBVA ATM to compare rates even by paying a fee but the line was a mile long, I will try again tomorrow. That's a big disparity between what you got and Friday's close of 3,047.77 (https://www.bloomberg.com/quote/USDCOP:CUR) almost 91 pesos. Why it's like playing slots with the one arm bandits. I just don't have a need for more pesos at the moment, even though the exchange rate (on Bloomberg anyhow) is higher than it's been in a month, still not enough reason for a special trip, but if I get out and close to a ATM, I'll try my hand and see what I get. |
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Post by sedelen on Sept 1, 2018 14:34:16 GMT -5
Didn't know there is a regular Colpatria bank and ATM anymore, I used the Scotiabank/Colpatria ATM which used to belong to Citibank a couple of months ago. Thanks, premo, for letting me know. Just took 900,000 pesos for $297.29. That's not bad @ at rate of 3,027.34, but from what bank? |
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Post by scumbuster on Sept 1, 2018 14:36:31 GMT -5
Its nice because I have 3 or 4 within walking distance.
I dont need it too but will take some today and if I get a decent rate tomorrow too.
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Post by Deleted on Sept 1, 2018 14:53:03 GMT -5
Just took 900,000 pesos for $297.29. That's not bad @ at rate of 3,027.34, but from what bank? From Colpatria. The regular Colpatria bank at City Plaza in Envigado. They also have one in the Santa Fe Mall poblado and Mayorca in Sabeneta. There are many in Medellin. |
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Post by caliorbust on Sept 1, 2018 20:53:34 GMT -5
I just came back from a regular Colpatria ATM, took out 600.000 pesos for $204.17 (pending) which is 2937.3 but suspect it includes the fee. The ATM wouldn't give me the fee, saying my bank decides it. So I won't know til Tuesday if that is the case and how much the fee was.
50 or 100 pesos in the exchange rate would make a difference with larger amounts. With small withdrawals the difference is minimal like premonition pointed out earlier.
In a way I like the Citibank card because my bank lets me withdraw $3000 per day if I ever needed to, if I let them know, instead of the usual $1000
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Post by scumbuster on Sept 2, 2018 15:38:19 GMT -5
I just came back from Colpatria.
600,000 @ $198.19
Got 3027.49.
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Post by sedelen on Sept 2, 2018 16:34:01 GMT -5
I just came back from Colpatria. 600,000 @ $198.19 Got 3027.49. Looks like we got a winner! |
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Post by caliorbust on Sept 2, 2018 17:33:08 GMT -5
Just came back from Scotia/Colpatria, got 2957 for 200.000 with no fees, except the 3% international fee Citibank USA deducts separately.
Yesterday got 2937 from the original Colpatria bank for 600.000 but believe it includes the fee. Won't know til Tuesday when I check with my bank. But regardless, also a 3% international fee.
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Post by sedelen on Sept 2, 2018 17:56:11 GMT -5
I really wasn't feeling too optimistic when I used the Davivienda ATM today around noon, 400 mil for 132.13, or an exchange rate of 3,027.13. This doesn't include the 3.7%
$5 ATM fee from my home bank as this being my most expensive card.
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Post by sedelen on Sept 3, 2018 9:44:02 GMT -5
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Post by papitohead on Sept 4, 2018 9:01:30 GMT -5
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Post by robbierobnj on Sept 4, 2018 9:19:26 GMT -5
3083 and climbing highest of the year
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Post by sedelen on Sept 4, 2018 10:36:50 GMT -5
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Post by caliorbust on Sept 4, 2018 11:27:01 GMT -5
Approaching 3100 if it continues like this with one hour and 40 minutes to go.
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Post by mudd on Sept 4, 2018 11:56:00 GMT -5
3053 today from davianda,
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Post by caliorbust on Sept 4, 2018 12:12:32 GMT -5
Here is colombia's opinion on the rise of the dollar, a Google translation (don't have the time to correct it):
1824/5000
The Colombian peso began 2018 revalued against the dollar (on January 3 the TRM was $ 2,940.94) and throughout the year had shown strength against the US currency, in fact, on April 16 this year reached the lowest price of the year ($ 2,705.34), which represented a drop off from the ticket price of 8% compared to the Market Representative Rate, TRM, effective as of December 31, 2017 ($ 2,984).
However, since the month of August everything began to change as the price of the ticket began to rebound, to revalue, and exceeded the barrier of $ 3,000 (on August 15 the TRM was $ 3,002.66). In that order of ideas, now, so far this year the currency has risen about 5%.
Thus, since that date the price of the greenback has remained practically at this same level and it seems not to give in to the Colombian currency.
During the day of this Tuesday the price of the dollar is rising on average $ 32.53 to $ 3,085.67. The currency has registered a maximum of $ 3,093.65 and a minimum of $ 3073. The currency is touching levels of 14 months ago, from July 10, 2017 ($ 3,092.65).
Felipe Campos, head of economic research at Alianza Valores, pointed out that the rebound of the dollar in emerging markets is the result, in part, of the strength of the green currency against another strong currency such as the euro: "Just the dollar It is strong against the euro, it is strong against the rest of emerging countries and they all begin to fall like dominoes, "he explained.
In addition, in an interview with CNBC, Banco de la República's manager, Juan José Echavarría, said that for the time being the Issuer has no plans to intervene in the exchange market, even if the Colombian peso were to be devalued between 10% and 15%.
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Post by scumbuster on Sept 5, 2018 9:17:49 GMT -5
Still climbing @ 3101
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Post by pilotguy68 on Sept 5, 2018 12:57:24 GMT -5
Noticed something different/strange today. I use visa chart for peso amount to be paid on each day. It is stuck on yesterday's numbers. Even though it went up to 3080 or so, it was stuck at 3053 for two days. I use this site always and it is always spot on. this is first time for me, to see it stuck even with peso rising. Here is the site I use to check the days peso at the ATM, in case it helps anyone: |
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Post by sedelen on Sept 5, 2018 14:58:40 GMT -5
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Post by billyb on Sept 5, 2018 20:14:15 GMT -5
Thank you Trump and Erdo, please keep doing what you do.....
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Post by scumbuster on Sept 6, 2018 8:49:53 GMT -5
Down 9 this morning, but 3087 still isn't bad. I will take another K this morning before it changes at the ATMs. I will be living the next year with 3000+ COP to USD money.
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Post by Deleted on Sept 6, 2018 10:33:32 GMT -5
Thank you Trump and Erdo, please keep doing what you do..... “The record is quite remarkable. The President has faithfully followed the agenda he campaigned on in 2016. People should focus on the results, and they’re extraordinary!” James Freeman - Wall Street Journal |
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Post by sedelen on Sept 6, 2018 14:23:25 GMT -5
Dollar finishes the day at 3086.21 in a day where it seemed to be looking for direction. www.bloomberg.com/quote/USDCOP:CURThis is early September, and often, more often than frequently, chaos reigns in the financial markets. Seems like a long list of currencies are being devalued by the markets of late. And along with that, their stock prices has fallen also, some very dramatically, if you look at Turkey. www.cnbc.com/2018/09/06/emerging-market-stocks-fall-into-a-bear-market.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahooAs investors, fund managers panic sell their stocks, ETF's, funds, whatever, money seeks a flight to quality, in many cases the dollar, increasing it's strength. But it's just not the emerging markets getting beaten up, Bitcoin has been taking a beating also. finance.yahoo.com/news/cryptocurrencies-continue-sell-off-bitcoin-100311387.htmlI saw one article, of the worlds stock markets, and I believe the US market was the only one right now that wasn't in decline. |
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