CP
Nomad
Posts: 434
Registered: 7-19-2006
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3% fee at banks for depositing dollars etc?
I thought I read about this here but can't find the post.
I was told there is a 3% fee when depositing cash dollars in your own account. Is this true and is there a minimum you can deposit without getting
fee'd?
I got stuck with a bunch of greenbacks.
Not sure what the best way is to turn them into pesos...I live too far from a bank to make a bunch of trips to fit in the daily maximum exchange.
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woody with a view
PITA Nomad
Posts: 15940
Registered: 11-8-2004
Location: Looking at the Coronado Islands
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Mood: Everchangin'
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spend them or stash them in your hammock.
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comitan
Ultra Nomad
Posts: 4177
Registered: 3-27-2004
Location: La Paz
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If your in La Paz in the next 3 weeks I could take $400 at current rate. U2U for info.
Strive For The Ideal, But Deal With What\'s Real.
Every day is a new day, better than the day before.(from some song)
Lord, Keep your arm around my shoulder and your hand over my mouth.
“The sincere pursuit of truth requires you to entertain the possibility that everything you believe to be true may in fact be false”
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shari
Select Nomad
Posts: 13052
Registered: 3-10-2006
Location: bahia asuncion, baja sur
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Mood: there is no reality except the one contained within us "Herman Hesse"
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I called Bancomer and they said I could deposit $1,200 a month before the fee was applied.
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Riom
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Registered: 12-17-2004
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It's 15,000 pesos per calendar month (in any currency) before a tax withholding of 3% is applied (by the Government, the bank just collects it). So
if you actually want to put it in the bank, doesn't make any difference if it is pesos or dollars, the advance tax applies to combined deposits for
the month.
In theory it be claimed back on a Mexican tax return (it's a withholding, can be set against other obligations).
The additional limit for dollars is a CASH deposit of $4000 per month per bank for account holders (no fee after that, it's a limit).
Rob
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Pescador
Ultra Nomad
Posts: 3587
Registered: 10-17-2002
Location: Baja California Sur
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The fee, which is actually a tax, is designed to slow down the money laundering from the drug dealers. This is close to one of the stupidist ideas
that the government has come up with in a long time. The actual amount is 15 thousand Pesos per month (which is what Shari just said). But some
banks will let you exchange dollars for pesos, and our banks in Santa Rosalia allow you to do $400 in Dollars, so you could maybe put in $1200 and
then find a couple of banks for the $400 exchange. The builders in our area are going nuts since they do not want to accept too many dollars, and the
Norteamericanos are not wanting to deposit enough to get the job done and take the hit on their end.
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