Anybody out there take advantage of the decent term deposit rates offered by some Mexican banks? We deal with Intercam and they are offering 4% yield
after the govt takes it's cut.
Are these guaranteed safe as they are in Canada?
Thanks for any input, thoughts or suggestions. baconjr - 2-17-2014 at 10:59 AM
In the 1980's the Mexican banks were offering high interest rates to keep up with the weakness of the currency. I know people who had 1,000's
deposited. Then one day all dollar accounts were converted to pesos and the the government did a wholesale devaluation of the peso and people lost
80-90% of their investment. I would be very careful about putting too much money in Mexican banks especially with the current government. "All that
glitters is not gold"Udo - 2-17-2014 at 05:27 PM
Even so, the banks are making it difficult to open any type of account if you are not a Mexican.rts551 - 2-17-2014 at 06:34 PM
Quote:
Originally posted by Udo
Even so, the banks are making it difficult to open any type of account if you are not a Mexican.
not so if you have the proper immigration paperwork.Udo - 2-17-2014 at 06:46 PM
I had the RP card, fideicomiso, paid taxes receipt, water receipt, electric receipt, three sizes of photographs, and lots of Pesos.
May I as what you mean by "...proper immigration papers"?
Quote:
Originally posted by rts551
Quote:
Originally posted by Udo
Even so, the banks are making it difficult to open any type of account if you are not a Mexican.
not so if you have the proper immigration paperwork.
