Although the next holiday season is in the October Recess Week, it is never too late to prepare for a trip, especially if it is abroad for details such as lodging, food, places to visit and the removal of money. Faced with this last aspect, know which are the banks that are least charged to make withdrawals in international ATMs.
With a cut on July 1, and with data collected from the Financial Superintendence, not counting the Pichincha Bank, which does not generate collection for customers, The Spanish bank BBVA leads within the ranking, since to make withdrawals abroad the entity only charges $ 6,803.65, US $ 1.69, for its savings accounts.
Then there is Lulo Bank with $ 6,850 for your savings accountsfollowed by the Union Bank with $ 6,950 for the same product.
After the top three is the Finandina bank with $ 7,300. Then there are several entities in the figure of $ 7,400 in which the original Popayán, Banco Mundo Mujer, the Agrarian Bank of Colombia, GNB Sudameris and the two Brazilian banks Itaú and Banco Falabella stand out.
Before $ 7,500 are the entities such as the Bank Serfinanza with $ 7,450 and the Social Caja Bank with charges for $ 7,490 for the savings accounts of its customers abroad.
Above this range are entities such as Banco Popular with a collection for its customers for $ 7,530, only exceeded $ 5 by Scotiabank Colpatria with $ 7,535. Before exceeding the range of $ 8,000 is Bancoomeva $ 7,841.
Then comes the largest bank in Colombia in the Top, Bancolombia, with a collection for its customers for $ 9,900 and Already in the range of $ 10,000 is the coopcentral bank with a collection of this same amount.
Banco de Occidente continues in the ranking with a $ 19,000 collection offersurpassed by the Davivienda bank with an amount of $ 20,000.
Among the banks that charge the most to get money at a foreign ATM, Leadra Av Villas with a value of $ 27,650 and secondly Banco de Bogotá with $ 21,320.
Why charges?
One of the main reasons why banks generate these charges is due to the costs that this type of processes can generate. Jhon Torres Jiménez, teacher at Uniagustiniana and economic analyst at Native Capital Management, explained that these charges are for “interoperability costs, since there are several rates for each operation, in which they must use several networks, which are then transferred to the end user”.
Torres added that banks assume exchange exposure, by allowing retreats in coins other than Colombian weight, so, with the aim of supplying that risk, they usually load additional commissions. The implications of these charges for users can fall on the budget of people, especially when a trip is made abroad.
Juan Pablo Vieira, CEO of JP Tactical Trading, recommended withdrawing higher and less frequent amounts, so that the fixed cost of the commission has less proportional impact, in addition to using credit or debit cards that offer international commissions reimbursements.
