Mudder
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Need to open a Mexican Bank Account
ISO information. We just bought some property in Todos Santos. We haven't closed yet, so, we don't have the title papers. I want to open a Mexican
bank account, to facilitate transfer of funds related to construction. I've read on a number web sites that all I need is ID and a "Proof of Address"
to open an account. These websites don't say if the Proof of Address has to be a Mexican or my Canadian address. Can someone chime in with their
experiences?
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4x4abc
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has to be a Mexican address on a water bill or CFE bill. Telmex will do as well.
The bank does not care if your name is not on it but some Mexican guy. If you say you are renting from him, it will be fine.
They will want to see ID and your passport will be just fine.
I recommend opening a US $ account and a peso account - makes the transfer of funds much easier. Open a Mexican paypal account, link it to your peso
account and you wll have another easy avenue for money transfers.
[Edited on 2-20-2018 by 4x4abc]
Harald Pietschmann
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Bob and Susan
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I wouldn't open a dollar account...
you ONLY need a peso account
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4x4abc
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with only a peso account, all transfers will automatically turned into pesos
with dollars in a dollar account, you can wait until the rates are good
Harald Pietschmann
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Bob and Susan
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good point
but you only need a peso account...
you can only change $2000usa to pesos a month
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pacsur
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Best to have a dollar and peso account so you can transfer dollars into your peso account when exchange rates are better, usually $1,000usd and
$4,000peso minimum balances.
I've never heard about a limit to exchange pesos in your account, I can exchange whatever amount I want.
There are limits to making usd cash deposits, but if it's by check or wire transfer there should not be any issues.
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mtnpop
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Bancomer has a 12,000 minimum or they start dinging you every month while you are below it.
You can only exchange $2000 usd to peso at the window per month
if you have an account.. They will not exchange unless you have an account...
Have been told now you need Permanent resident to open an account not sure if you can get one on Temp Resident. but not on tourist visa.
We only have peso account and use Wells Fargo Express send money is in the bank immediately just watch to move money when the rate is good if
possible..
The above is not hearsay it is actual experience this year...
Common sense is a flower that doesn\'t grow in everyone\'s garden.....
A wise man once spoke nothing.....
Never kick a cow chip on a hot day!!
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Bob and Susan
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i went in and checked...the min is 8000 pesos before fees
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pacsur
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Quote: Originally posted by pacsur  | Best to have a dollar and peso account so you can transfer dollars into your peso account when exchange rates are better, usually $1,000usd and
$4,000peso minimum balances.
I've never heard about a limit to exchange pesos in your account, I can exchange whatever amount I want.
There are limits to making usd cash deposits, but if it's by check or wire transfer there should not be any issues. |
Some banks suck more than others, currently I use Scotia and Santander, I have used almost all of them in Los Cabos over 20+ years, Santander is pick
of the litter for the last 7-8 years...Scotia sucks on exchange rates, where I only exchange when I go to the mananger and have her call DF for a
current rate...
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surabi
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My Bancomer "Libreton" account only has a 4000 pesos minimum balance/month not to incur service charges.
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tecatero
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Is being a residente permamente also a requirement to open an account ?
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4x4abc
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NO
Harald Pietschmann
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weebray
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Twenty five years, no Mexican bank account, no problems - ever.
Every beautiful beach in the world needs a few condo towers - NOT.
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AKgringo
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And I will bet that you don't use bit-pesos either!
If you are not living on the edge, you are taking up too much space!
"Could do better if he tried!" Report card comments from most of my grade school teachers. Sadly, still true!
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weebray
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Bit pesos? My brother had some once.
Every beautiful beach in the world needs a few condo towers - NOT.
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