I want to open bank account in Ensenada for easier FM3 renewal when a letter regarding minimum monthly resources is required. Has anyone done this?
Are there banks you recommend or recommend against? What will the bank require to open an account? Any information will be greatly appreciated.rpleger - 6-2-2005 at 02:39 PM
Open a account with "California Commerce Bank" in Los Angeles 1 800 222-1234.
Then open an account with "Banamex" in whatever town your going to reside in.
You may direct deposit money into California Commerce and then transfer for free, over the internet. up to $10,000 US a day to your account in Mexico.
Keep as little as you can get by with for a month at a time. and lower your risk of deflation.
Been doing this for a few years and it keeps everyone happy.
RichardBruce R Leech - 6-2-2005 at 03:55 PM
rpleger knows what he is talking about. what he Sade is the best thing to do .Anonymous - 6-2-2005 at 04:39 PM
Thanks, guys. Very useful info. Now for a couple of other questions: Do you have the account in pesos or dollars? Any advice whether to make it a
checking vs a savings account? And one more--What is the current minimum requirement to keep monthly for FM3??
Much?simas gracias. Appreciate your help.
Lili in EnsenadaDon Alley - 6-2-2005 at 05:23 PM
Quote:
Originally posted by Hose A
The question is.............What are the requirements to open a bank account in Mexico???
1. For us, being able to wait in line a long time.
2. Also, as of a couple of years ago, you needed an FM3 to open an account. And you needed an account to get an FM3! Whoopee!
3. And they wanted references, with phone #s, of Spanish speakers they could call to verify we were OK! Sound like fun?
OK, step one, we used patience. The whole thing only tok 1 1/2 to 2 hours.
Step two: The bank policy is to be "flexible," and allowed us to open a peso account without an FM3, but not a dollar account.
Step 3: One of our references was a friend of the banker, the other two were his relatives. Don't you just love small towns? So no phone calls
necessary.
Be sure to take your passports to the bank.
Now, in Loreto, a local bank account is no longer required for an FM3.Sharksbaja - 6-2-2005 at 08:47 PM
Here is another example of the old double standard or as I like to think in Mexico "multiple standard". Why shouldn't this process be like any other
"official" business in Mexico.They may have a different way in all banks/branches and requirements may change by the minute. I walked into the Banamex
Santa Rosalia with a VIP of the community and within minutes was transferring money($U.S.) within the branch with no FM3 but three forms of ID, I was
then good to go. I can also direct deposit through my bank in the States but it is routed through Mexico City first and may take a few days. The whole
process may have taken me hours too, had I not had connections. I also keep just a reasonable amount over and above what is required.
Rplejer, are you able to actually see your Mex account via online? So,it is a dollar account? Or does the L.A. Bank convert for you? Sharks
