Bank of America & Barclays

I work at Bank of America currently and Cait is exactly right. 
The relationship only means that you can use Barclay's ATM's without having to pay the fee for using a Non-Bank of America ATM.  You still have to pay the conversion fee though 

Each country has different banking regulations/procedures with regards to money laundering which would preclude automatic and reciprocal accounts.

I guess I'm just cynical about banks and the way they screw you at every turn.  I'm no Marxist, but I think Marx had a point when he asked who the greater criminal was, the man who robs a bank or the man who owns one.

work at Bank of America currently and Cait is exactly right. 

The only reason I know is because my husband works for Barclays. 

Joshua, could you refresh my memory?  I know there are federal regulations governing money laundering, but are there state laws as well?  I used to work in banking in the US, though my role was technical rather than banking -- still, had to take those money laundering tests and afraid I've forgotten the majority of it.

I believe that it is federal law that determines the money laundering regulations.  But, I could be wrong

And we still have to take those tests every year!!!!

Thanks for that, Joshua.  Sorry you still have to take those tests!

Do you know if there are *any* state level regulations for banking?  I'm curious if there is a difference state to state, which could be another potential reason that reciprocal accounts between countries would be difficult.

Good news for you BOA customers:

My wife's friend's husband works for BOA. He says Bank of America will be opening a branch in London by the end of the year! 

Oooooh! Does that mean it would be any easier to do money transfers? Or at least, any less expensive? Or something else beneficial?

can anyone point me to the link that states that if you use your BoA debit card to withdrawl money at Barclays ATM, you won't be charged a fee?

I can find this:

http://barclays.metafaq.com/templates/barclays/main/answerPage?_mftvst:answerRef=%24http%3a%2f%2fapi.transversal.com%2fmfapi%2fobjectref%2fEntryStore%2fEntry%2fhttp%3a%2f%2fwww.metafaq.com%2fmfapi%2fMetafaq%2fClients%2fbarclays%2fModules%2ftravel_international%3a77963%3a1&_mftvst:moduleID=%24travel_international&_mftvst:topicID=%24&id=I1LNT963055S8EMF9JN2RBMPEA

and i can find something on BoA website about miliatary banking....

Meggles, I couldn't find anything on BofA's website either, but we have both a Barclays account and a Bank of America account (not with Military Bank) and have never been charged using the BofA card here or using the Barclays card in the US. Both my husband and I worked for BofA which is how we knew about it, but it does seem strange that it doesn't mention it on the website.

Wait I found it....

http://bankofamerica.via.infonow.net/locator/atmbranch/ListLoadAction.do It's under locations on the main page.

thanks so much!

The only thing I know of between Barclays & BOA is as others have said.  When we go to the US, we try to use BOA ATMs & avoid paying a service charge at the ATM.

Good news for you BOA customers:

My wife's friend's husband works for BOA. He says Bank of America will be opening a branch in London by the end of the year! 

any news on this?

I have a Bank of America account and use my BOA debit card to withdraw cash (£)at Barclay's ATMS with no fees charged

I have a Bank of America account and use my BOA debit card to withdraw cash (£)at Barclay's ATMS with no fees charged

Me too.  I don't have a Barclays account.  But I can use my BOA atm card at any Barclays ATM for free.  Been doing so for about 2 years and never had a charge