Phil S - 3-19-2004 at 06:47 AM
Just finished renewing (mid five term) FM3. Immigration for first time required us to have bank account in Mexico of $20,000.00 (peso) to be able to
renew my FM3. (we stay about six months down here) For those of you who have also done the same. Do you have your account in US currency or Pesos? I
went savings account in pesos. Don't know if that was right move or not. TIA Phil
saving account
aldosalato - 3-19-2004 at 07:12 AM
Due to high cost of transferring money from abroad into Mexico I suggest to have a dollar account and do only one BIG transfer every 3-6 months.
Otherwise they are almost same for sum of risks and rewards.
Numerous people I know
Tucker - 3-19-2004 at 08:01 AM
Tell me that they were required to maintain a Mexican account with a minimum balance. This has not been the case with me, I take copies of my US
account with ATM withdrawal slips, never any requirement for more accounts or documentation. Hopefully it will continue, since I have no desire to
complicate my life.
I think that the La Paz office enforces this requirement less stringently than the Ensenada office. Also on my 8th year of FM-3 status.
backninedan - 3-19-2004 at 01:05 PM
In order to register my new fm-3 in Loreto, I had to have a minimum account of $1,500 in a local bank.
I was told this is also the amount required to renew.
Dan
Bank Account......Pesos or Dollars?
CJ - 3-19-2004 at 03:14 PM
Phil,
We have an bank account in Loreto for our FM2's. We have had both types of accounts, pesos or dollars. If you want the bank to pay your utilities
you need to have a peso account. A dollar account works best for us. It is easier to send money to your account, and keep track of it. Also if you are
not there for six months, and the peso devalues; you will not be there to take your $$ out. When you finally get there you will have a lot less $$
Just my two cents. CJ