Question
I just got off the phone with Bank of America to cancel my old Fleet cash-rebate card because when BA acquired them they jacked up the foreign-exchange fee to 3%. The rep told me that because I was a good customer (internal code 1501 or 1701, whatever that means) they waive the foreign-exchange fees on all BA credit cards. I canceled the card anyway since I still have my Alaska BA Visa and will try some test charges with it next time I'm out of the country to see if it's true. If so, it's a great deal for me.
I have many personal and business checking/investment accounts with BA, which I assume is how I got this status.
QL
Answer
let us know if this works next time you are abroad.
Answer
It worked. No markup at all over the Interbank rate.
QL
Answer
I just talked to Joshua, a B of A CSR in the retention department, who said they could not code my account but that he would make a notation in my file. He said his notation would be to waive the 3% fee as a courtesy. The kink was I would have to call them after I returned from Europe and refer whichever CSR I got to the file notes. He would not guarantee I would get the fees waived since it was apparently up to the discretion of the CSR, so I posed a hypothetical case to him. What if a cardholder had called to CSR Jane Smith a month ago and she had noted the file. If that cardholder called Joshua today and he checked the file would Joshua remove any 3% foreign exchange fees. His response is that he would remove the fee as a courtesy.
Answer
I have never been charged any fees for ATM withdrawals (normally $5/transaction + 3% fee) or purchases made with BOA cards while overseas. They tell me its because I am a "Premier Client". So thats what happens when you have your mortgage, business account, and checking account with them for the past 20+ years.
If they were only open on Sundays....