Sounds like some of those fees can be avoided if you plan for it, and do it right. Withdraw the money in $US and avoid the biggest fee - 2.5% foreign transaction fee. I know in Negril some ATMs give $US, some give $JA - so that should not be too hard. Then just hit a cambio to convert the $US to $JA.
A 1% fee for ATM use is pretty low - that would only be $1US for $100US, or $3US for $300.
Even if the ATM itself charges another $3US - that is still much better than Moneygram/Western Union.
A quick question on using the PayPal debit card.
I already have a PayPal account and I just checked my PayPal card - is a MasterCard, not a Debit Card. I have never used that card for a transaction other than online. It seems like it is a traditional Credit Card because I don't have funds in my PayPal account - I pay after purchases when I get my billing statement. Wouldn't I get hit with Cash Advance fees if I use the PayPal MasterCard - or is it a dual-purpose credit/ATM card?
I am thinking I would need to apply from them for a seperate Debit Card and deposit funds in my PayPal account AHEAD of time for withdrawal?
Thanks in advance.
That sounds like a good plan, Ohio_Buckeye_1, I would get an additional Debit Card for that account as I explain below.Originally Posted by Ohio_Buckeye_1
Part of the reason why I started using Paypal so many years ago is that I was married to a Kingstonian and the Western Union fees were killing me. It was around that time that I also decided that although I am great with other people's money...... I sometimes ain't so good with my own!Sooo...I cut up those Credit Cards and made a conscious decision that if I didn't have it in the bank then I didn't have it.
I don't regret that decision one single bit. I use a Debit Card tied to my personal bank account that is electronically tied to another account where i actually have my Direct Deposits and other monies stored and have no other electronic ties to it so I feel pretty secure.
Now, this personal account that I use for my personal expenses here in the US is where I supply my Paypal account from. As an added layer of security, i don't keep squat in that account either.
This way, I use my Paypal Card in Jamaica and my best friend, Marshall, has a card to that Paypal account too. With my internet access I can control the inflow and outflow of funds within and between the two accounts.
Sounds a little complicated but it works just fine.
Peace and Guidance
Free Opinions Offered. No tipping required. Hours: Open when I feel like it.
Posting Permissions
