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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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| Quote: | Originally posted by jerry
now i know why bancomer doesnt seem to ever get it together
it has a friend wells fargo |
Jerry, it also explains why your fidecomiso payment is taking so long.
It's going by stagecoach!
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Hook
Elite Nomad
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I'm bumping this to the top, after a year, to see if anyone can add anything to the discussion.
We are highly motivated at this point as our house appears to be sold and we have notified our jobs that retirement is imminent.
To start, can we begin with the various affiliations between Mexican banks and American/international banks? From what I've gathered it's:
Citibank-Banamex
B of A-Santander
Wells Fargo-Bancomer
HSBC-HSBC
ScotiaBank-ScotiaBank
What else?
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Bob and Susan
Elite Nomad
Posts: 8813
Registered: 8-20-2003
Location: Mulege BCS on the BAY
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hook only banamex in los angeles ca can act the same as a banamex in mexico
citibank treats banamex as an outside bank
so does banamex to citibank
we have both
doesn't work
what i'd do is just get an account with citibank only because they are VERY internet oriented and they dont care where your "local" branch is.
MOST of their office are in a "7-11 Store"
and...
the CLOSEST mexican bank near your retirement home in mexico
direct deposit your retirement check and use an ATM or transfer funds between accounts on the internet
we can do this from the playa with the SAT internet "hook" up
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Hook
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So, you accept having to pay a fee when transfering from your Citibank account into your Mexican bank accout, I assume? Is it the same amount whether
you transfer it into your Bancomer account or your Banamex account? I believe you have both, right? What does this generally cost per transfer? And
what are the monthly fees on each of your Mexican bank accounts?
I'm OK with the ATM setup but figure we will need more cash than the daily limit as we begin to pay for construction in our local area.
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Bob and Susan
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we pay fees....YUK
$60 per transfer...so make it worthwhile
$3 per month for the bank account down here
we have both banks
same for both
up you limit with your bank in the states for more money per day
also tell them you'll be using a credit card in mexico so they don't "cut you off"
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Hook
Elite Nomad
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60.00............wow, banking mordida!!! 3.00/month is more than reasonable.
I've posted some of the same questions over on the San Carlos Sonora boards. That's where we will be going. I'll let you know if they have any
insights on better banking relationships.
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sylens
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hsbc
charges started at 50 and just went up to 88 pesos/month to maintain the checking account
we are going to check scotiabank next week. we only use it for fm3 (minimum monthly requirement). no deposits or withdrawals.
lili
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Hook
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| Quote: | Originally posted by sylens
charges started at 50 and just went up to 88 pesos/month to maintain the checking account
we are going to check scotiabank next week. we only use it for fm3 (minimum monthly requirement). no deposits or withdrawals.
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Not even ATM withdrawals?
I guess you have a good in-home safe. 
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sylens
Senior Nomad
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| Quote: | Originally posted by Hook
| Quote: | Originally posted by sylens
charges started at 50 and just went up to 88 pesos/month to maintain the checking account
we are going to check scotiabank next week. we only use it for fm3 (minimum monthly requirement). no deposits or withdrawals.
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Not even ATM withdrawals?
I guess you have a good in-home safe. |
not at all. we use atms all the time, including occasionally at hsbc but not from an account with them. we are still using our credit union atm card
and it works fine anywhere we go.
lili
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DENNIS
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| Quote: | Originally posted by sylens
our credit union atm card and it works fine anywhere we go. |
I know you wouldn't know but, if it works at Anthonys may I borrow it?
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BajaWarrior
Super Nomad
Posts: 2307
Registered: 9-27-2006
Location: Mission Bay, San Diego. Playa Hermosa, San Felipe.
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Mood: Anxious to get south
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Does anyone remember when Mexico devalued the peso in the 80's? It was around 380x1 I think. Then it went to 3x1
If someone had money in the bank didn't it get depreciate 10 times? And you lost your money? That would have been a peso account back then, right?
Haven't had a bad trip yet....
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sylens
Senior Nomad
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by sylens
our credit union atm card and it works fine anywhere we go. |
I know you wouldn't know but, if it works at Anthonys may I borrow it? |
tsk tsk, dennis. settle!!
lili
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Terry28
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BajaWarrior,
Unfortunately I had a pretty good sized peso account at the time of the devaluation..we lost half our money basically overnight..I learned later that
the "big boy's moved billions just before the announcement of the devaluation....I was peeed!!
Mexico!! Where two can live as cheaply as one.....but it costs twice as much.....
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BajaWarrior
Super Nomad
Posts: 2307
Registered: 9-27-2006
Location: Mission Bay, San Diego. Playa Hermosa, San Felipe.
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Mood: Anxious to get south
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| Quote: | Originally posted by Terry28
BajaWarrior,
Unfortunately I had a pretty good sized peso account at the time of the devaluation..we lost half our money basically overnight..I learned later that
the "big boy's moved billions just before the announcement of the devaluation....I was peeed!! |
Yes, that is exactly what I heard. Very unfortunate. That must be why residents have dollar accounts now.
Haven't had a bad trip yet....
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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| Quote: | Originally posted by sylens
charges started at 50 and just went up to 88 pesos/month to maintain the checking account
we are going to check scotiabank next week. we only use it for fm3 (minimum monthly requirement). no deposits or withdrawals.
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I've heard real good things about Scotia Bank from the San Carlos area.
Also reading about several who have lived there for years and can make do just fine with no mex account. They just use their ATM and if they need a
bigger amount, they go for a few days in a row and take out the max.
At that point, WE would need the good, in-home safe.
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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| Quote: | Originally posted by Bob and Susan
we pay fees....YUK
$60 per transfer...so make it worthwhile
$3 per month for the bank account down here
we have both banks
same for both
up you limit with your bank in the states for more money per day
also tell them you'll be using a credit card in mexico so they don't "cut you off" |
Bob, I would grind your rep at Citibank. Reading about only a 15.00 wire charge from others using the Citi-Banamex connection.
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durrelllrobert
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| Quote: |
We have had good experiences with fidos with Scotiabank, and have found the local Banorte effective for cash transfers and simple banking. Their
on-line bank security exceeds all banks in Canada. However, we may get our statements once or twice a year, if we are lucky...
[Edited on 3-7-2007 by Acuity] |
Moved my account from Santander to Scotia because Santander:
1. Does to allow gringos to have ATM card: Scotia does
2. Does not mail statements period: Scotia does even though it takes 3-4 weeks to receive from Ensenada via MX city.
3. Does not have on-line banking period: Scotia does and it's very secure
4. Does not allow deposit of US checks period: Scotia does after you have account for 6 months
Scotia and Santander do not require FM3 to open account but Bancomer does.
Bob Durrell
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BajaRed
Newbie
Posts: 1
Registered: 4-22-2008
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Citibank announced in Dec 2007 that they now charge 2% for all ATM withdrawals including Banamex...
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Hook
Elite Nomad
Posts: 9010
Registered: 3-13-2004
Location: Sonora
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I went to a B of A branch last week and they reiterated that there are NO CHARGES, INCLUDING THE VISA 1% TRANSACTION FEE, for using Santander ATMs in
Mexico.
Unless Wells Fargo pulls a rabbit out of their hat when I visit later this week, I am going to have to open a B of A. account.
You have to understand the soul-searching this is causing in a 35+ year credit union member. B of A was always the Evil Empire. Arrgggg!!!!!
I'll let you all know what I find at Wells Fargo. No mention of the old Amistad program on their website.
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