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oldjack
Nomad
Posts: 350
Registered: 1-26-2006
Location: Los Barriles
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Mood: retired
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U.S. Bank w/Mexican Bank Partner
I have a vague memory of some post(I tried the search feature) that mentioned a bank in Los Angeles that was partnered w/Banamex(?) where I could have
my money deposited in the States and have it transferred to MX without cost and use the Mexican bank for everyday activities. Anybody have a better
memory or actual experience with this process???
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bajalou
Ultra Nomad
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Location: South of the broder
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Don't remember that but Banamex has a US branch. I have seen a branch office in Calexico.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
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Dave
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It's Banamex USA
Banamex is owned by Citi. They have special accts. for those retired and living in Mexico. I think you need to be over 55 YOA. Contact info:
2029 Century Park East, 42nd floor
Los Angeles, CA 90067
1-800-222-1234 Within the United States
01-800-111-1234 From anywhere in Mexico
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djh
Senior Nomad
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Location: Earth mostly. Loreto, N. ID, Big Island
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Mood: Mellow fellow, plays a yellow cello...
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... and for Bancomer ? ? ?
Does Bancomer partner / share with a US bank?
thx.
djh
Its all just stuff and some numbers.
A day spent sailing isn\'t deducted from one\'s life.
Peace, Love, and Music
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rpleger
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Location: H. Mulegé, BCS
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Been using BANAMEX USA for at least 10 years now..
used to be called California Commerce Bank, in LA just like Dave said.
Same day transfer of funds. Also atm... Just bring in money as you need it.
Richard on the Hill
*ABROAD*, adj. At war with savages and idiots. To be a Frenchman abroad is to
be miserable; to be an American abroad is to make others miserable.
-- Ambrose Bierce, _The Enlarged Devil\'s Dictionary_
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flyfishinPam
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Bancomer used to have a branch in LA. I've seen it but that was several years ago and I don't know if its still there. Don't see why not. The fact
that Bancomer had (has) a branch in LA was subject to conversations regarding more protection for a US citizen with a fideiocomiso held with Bancomer.
I have no idea if this means anything but that was the talk about ten years ago.
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bajabound2005
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Bancomer = Wells Fargo
Santander & Scotia Bank = Bank of America
Banamex = Citibank
Friends don't let friends drink white zinfandel.
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Bajahowodd
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You may want to check with HSBC. I seem to recall they had such a program.
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bajalou
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When I asked at Wells Fargo, they told me no Mexico affiliates.
No Bad Days
\"Never argue with an idiot. People watching may not be able to tell the difference\"
\"The trouble with doing nothing is - how do I know when I\'m done?\"
Nomad Baja Interactive map
And in the San Felipe area - check out Valle Chico area |
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flyfishinPam
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| Quote: | Originally posted by bajabound2005
Bancomer = Wells Fargo
Santander & Scotia Bank = Bank of America
Banamex = Citibank |
Its nice to have a conversion chart.
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flyfishinPam
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If it helps that branch of Bancomer up in LA had the same sign as in Mexico. It was definately not operating as another bank. It may still be there.
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flyfishinPam
Super Nomad
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WOW there's LOTS of Bancomers!
these are only in So Cal!
http://maps.google.com/maps?hl=en&um=1&ie=UTF-8&...
http://www.bbvabancomerusa.com/index.aspx?pageid=9
[Edited on 4-17-2009 by flyfishinPam]
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EnseNADAslim
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| Quote: | Originally posted by bajalou
When I asked at Wells Fargo, they told me no Mexico affiliates. |
You talked to someone that did not know, nor did they want to check it out---most likely they were having a bad day. You can transfer funds via a
International remittance account. You can set up an account with HSBC or Bancomer, then you need to visit a Wells Fargo with you account information
and they will set it up for you. Of course you will need an FM3 to open an account in Mexico to do this.
I'm with HSBC, but I'm going to switch to Bancomer as all off the HSBC are in downtown Ensenada, and Bancomer has more offices to deal with.
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bajagrouper
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I have a Banamex USA ( formally California Commerce Bank) account... To open you need a Mexican address and you need to show either a water or
electric bill with same address...You get an ATM card you can use at any Banamex ATM machine without a fee and at a very favorable rate. Beside the LA
address they have a branch in Calixico...very happy with their service...
I hear the whales song
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Yamero
Newbie
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Registered: 3-27-2009
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>> To open you need a Mexican address and you need to show either a water or electric bill with same address...
Excuse my ignorance, but aren't many if not most U.S.-issued ATM cards accepted in Mexico? What's the purpose of opening an account in the U.S. in
order to receive an ATM card to be used specifically in Mexico?
I've used my U.S.-issued ATM card in Europe and Asia, and the dollar-to-local exchange rates were always more favorable than the foreign exchange
counters at airports. Hence, my question - what makes Mexico different in this respect?
Yamero
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Ricardo
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Bajabound2005 says, Santander & Scotia Bank = Bank of America, I don't think ScotiaBank has any holdings with either of these two companies.But
that doesn't mean they aren't compatible for transactions.
Rick
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bajabound2005
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I know you can take money from Scotia' ATM with BofA card and incur no fees on either end! So there is some kind of "relationship".
Bajalou -- go into a Wells Fargo branch and speak to a Hispanic banker -- they KNOW; the others don't have a clue. Do not call, go into a branch.
Friends don't let friends drink white zinfandel.
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schwlind
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Location: Daytona Beach, FL/San Antonio Del Mar (Colonet)
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| Quote: | Originally posted by Yamero
>> To open you need a Mexican address and you need to show either a water or electric bill with same address...
Excuse my ignorance, but aren't many if not most U.S.-issued ATM cards accepted in Mexico? What's the purpose of opening an account in the U.S. in
order to receive an ATM card to be used specifically in Mexico?
I've used my U.S.-issued ATM card in Europe and Asia, and the dollar-to-local exchange rates were always more favorable than the foreign exchange
counters at airports. Hence, my question - what makes Mexico different in this respect?
Yamero |
That comment was in response to opening an account at one of the banks in Mexico (Baja).
Your ATM card works at most ATMs in Mexico regardless of the affiliations, its just that you'll pay a fee for using another banks network. As an
example our US bank account is with Bank of America, but we always use HSBC's ATMs as they are more convenient. And the price of that convenience is
a $8 to $10 fee deducted from our checking account.
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djh
Senior Nomad
Posts: 936
Registered: 1-2-2005
Location: Earth mostly. Loreto, N. ID, Big Island
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Mood: Mellow fellow, plays a yellow cello...
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| Quote: | Originally posted by schwlind
| Quote: | Originally posted by Yamero
>> To open you need a Mexican address and you need to show either a water or electric bill with same address...
Excuse my ignorance, but aren't many if not most U.S.-issued ATM cards accepted in Mexico? What's the purpose of opening an account in the U.S. in
order to receive an ATM card to be used specifically in Mexico?
I've used my U.S.-issued ATM card in Europe and Asia, and the dollar-to-local exchange rates were always more favorable than the foreign exchange
counters at airports. Hence, my question - what makes Mexico different in this respect?
Yamero |
That comment was in response to opening an account at one of the banks in Mexico (Baja).
Your ATM card works at most ATMs in Mexico regardless of the affiliations, its just that you'll pay a fee for using another banks network. As an
example our US bank account is with Bank of America, but we always use HSBC's ATMs as they are more convenient. And the price of that convenience is
a $8 to $10 fee deducted from our checking account. |
YUP.... AND, Not all banking needs are as simple as just "getting cash when in MX." . . .
It is good to be able to manage funds from ANYwhere and also to avoid transfer fees, service fees, Int'l fees, etc.
I think I see some sun in Idaho !!!! Maybe thiw long winter is finally coming to an end 
djh
Its all just stuff and some numbers.
A day spent sailing isn\'t deducted from one\'s life.
Peace, Love, and Music
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Hook
Elite Nomad
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Location: Sonora
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Schwlind, those fees are in pesos, right?
There are many persons in San Carlos who have been living here for 20 years that have NEVER FOUND A NEED TO OPEN A MEXICAN BANKING ACCOUNT. Generally,
their builders accept US checks in dollars for the large sums sometimes needed. MANY OF THESE LOCAL BUILDERS HAVE US ACCOUNTS AS THEY HAVE LEARNED
ABOUT THE SAFETY OF MEXICAN BANKS THROUGH A COUPLE DEVALUATIONS.
The same holds true for us. We are using a combination of our credit union, B of A and Santander. 3000.00 US daily limit on transfers from our CU to
our B of A account but the transfer is an ETF so no fees. Then, ATM up to 5000 pesos per day PER CARD (we have two) from a Santander using the B of A
check/ATM card.
No fees along the process, but there is always a way for a bank to make it up in the exchange rate. The B of A rate is a little down from the market
rate I've seen posted (about .15 pesos). But it is vastly superior to what HSBC is giving their clients...............about a half peso worse.
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