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Russ
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Location: Punta Chivato
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I'm going up next month and will look into BofA's relationship with Bancomer. If I can get some simple facts I'll post them. But simple is not a word
that I can relate with banking.
Bahia Concepcion where life starts...given a chance!
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LaPazGringo
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| Quote: | Originally posted by Fernweh
I opened a Citibank account because of the link with Banamex.
No transfer or ATM fees, you can easily do the transactions online if needed.
Karl |
Sounds just like BofA/Santander. So you just get straight cash withdrawal at Banamex ATM with no cost whatsoever?
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El Jefe
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We've been living for almost 7 years on US credit cards and cash out of the Banamex ATM via our Citibank account. No charges. Pay our bills on line.
Every once in a blue moon we have had a need for a Mexican bank account, but have always been able to work around that.
No b-tchin\' in the Baja.
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larryC
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| Quote: | Originally posted by soulpatch
I believe CitiBank bought Bancomer....or is it Banamex... one of the two.
Anyway, Citibank has told me they will transfer money into, if you open an account with them, a account there without a fee.
I've been wrong before, though. |
Frank
Lois and I have a citibank account, we also looked into getting pesos from them which they assured us was easy and we would get that days exchange
rate. So just out of curiosity I asked what their exchange rate was for that day and they quoted me 13.07p to the dollar, I went home and checked on
line and it was 13.95 (this was in late December) Then I check the exchange place at costco chula vista and their rate was 13.30 p to the dollar, so
citi's rate was not all that good and it seems their fees were built into the poor rate they give. Anyway check them out before you deal with them
HTH
Larry
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SFandH
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I'm interested in this thread so I did some keyboard work:
Santander Banks in Baja:
BC: http://santander.mapasactivos.com/state_search.asp?suc=1&...
BCS: http://santander.mapasactivos.com/state_search.asp?suc=1&...
You can also use the yellow pages to find banks. For example:
http://www.seccionamarilla.com.mx/Resultados/banco-santander...
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Udo
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This is the type of answer I was looking for 
| Quote: | Originally posted by SFandH
Bank of America and Banco Santander.
There are no fees when using a BofA ATM card at a Santander bank.
[Edited on 2-29-2012 by SFandH] |
[Edited on 2-29-2012 by Udo]
Udo
Youth is wasted on the young!
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Udo
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Thanks Terry...I have a USAA account and loan, and will look for additional options.
I'll have Jana check with her employer's credit union.
Great info...as always.
| Quote: | Originally posted by bajaguy
Udo
Find out which Mexican banks are located in your Baja location, then go to a couple of your local (CA) credit unions. Also have your better half check
with her employer if they have a preferred credit union or bank NOB.
Check to see if the US banks or credit unions have an electronic funds transfer between themselves and a Mexican bank, or what their ATM fees/limits
are when dealing with the Mexican banks.
I prefer to keep my money in my US credit union and just use ATM's when in Baja.
Bajablonde and I both use the same credit union, but have seperate accounts........that way if one account or ATM card screws up, we have the other.
And we can transfer funds between each account by our on-line banking.
Also, if you have ever been in the military, check out the full range of services offered by USAA. I have been with them for 34 years.......great
service and great products:
https://www.usaa.com/inet/pages/our-products-main?wa_ref=pub...
[Edited on 2-29-2012 by bajaguy] |
Udo
Youth is wasted on the young!
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rob
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Location: Pacific Coast, BCS
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I thought Gnukid had finally flipped with his "HSBC = Queen of England house of Windsor", but I must apologize. I am not really into Masonic
conspiracies, but it certainly will provide your daily dose of sinister reading.
As a Canadian - I have sworn allegiance to the House of Windsor . . . yikes!
A very shallow Google revealed
http://www.bibliotecapleyades.net/biggestsecret/biggestsecre...
and
http://republicbroadcasting.org/?p=16396
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Hook
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RFICs, EMEs, RF emissions from cell phones,CIA "rays"...........
This will be the fashion for the latter half of the 21st Century.
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capitolkat
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For about 6 years we have used our Citibank ATM card at Banamex. Banamex is owned by Citibank and we have not been charged any fees for cash
withdrawals from our citibank account. We now have been living in La paz for 15 months and have no Mex bank account, and only use our Citibank card.
We find the exhange rates to be comparable to the going rate and without any fees for the transactions we come our ahead.
when I knew we would be living in Mex for most of the year I researched the various options and have all my funds deposited in Citi by direct deposit,
I can check Banamex on line for the daily rate before I withdraw funds and it's been painless and and effecient way to manage my money without having
to disclose Mexican bank info to the IRS as we have no funds on deposit in Mexico.
when we built our house we used Citibank for fund transfer to our contractor and once it was set up the process was also painless and the funds
usually arrived in two business days to my contractor's account.
Norm
Life is too short to drink bad wine
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Fernweh
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| Quote: | Originally posted by capitolkat
For about 6 years we have used our Citibank ATM card at Banamex. Banamex is owned by Citibank and we have not been charged any fees for cash
withdrawals from our citibank account. We now have been living in La paz for 15 months and have no Mex bank account, and only use our Citibank card.
We find the exhange rates to be comparable to the going rate and without any fees for the transactions we come our ahead.
when I knew we would be living in Mex for most of the year I researched the various options and have all my funds deposited in Citi by direct deposit,
I can check Banamex on line for the daily rate before I withdraw funds and it's been painless and and effecient way to manage my money without having
to disclose Mexican bank info to the IRS as we have no funds on deposit in Mexico.
when we built our house we used Citibank for fund transfer to our contractor and once it was set up the process was also painless and the funds
usually arrived in two business days to my contractor's account.
Norm |
Thank you Norm for that verification.
I'm planing to move into your neighborhood soon, might be better not to have a separate Banamex account.
Karl
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Hook
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Norm, I take it your contractor had a US account? Or did you just bite the bullet and pay for a wire transfer into his Mexican account?
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EnsenadaDr
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Mood: Move on. It is just a chapter in the past, but don't close the book- just turn the page
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Other options..
This is the answer I got from my friend who has a Banamex USA account: I’m in a special plan for Americans who have retired in Mexico so my account
may be different than others. That said, I have a checking account, pay no fees, no minimum balance and no ATM fees at their branches in the U.S. or
Banamex ATMs here. If you use another ATM, Bancomer for example, you would pay Bancomer’s fees but no fees on your Banamex card. They have a toll
free # in Mexico 01-800-111-1234 so you don’t have to call into the states. Their staff is bilingual. I’ve had this account since 1994 and never a
single problem with them. You might want to call and find out more. If you do, as soon as they answer, say ‘representative’ and they’ll connect you
with a live person! | Quote: | Originally posted by capitolkat
For about 6 years we have used our Citibank ATM card at Banamex. Banamex is owned by Citibank and we have not been charged any fees for cash
withdrawals from our citibank account. We now have been living in La paz for 15 months and have no Mex bank account, and only use our Citibank card.
We find the exhange rates to be comparable to the going rate and without any fees for the transactions we come our ahead.
when I knew we would be living in Mex for most of the year I researched the various options and have all my funds deposited in Citi by direct deposit,
I can check Banamex on line for the daily rate before I withdraw funds and it's been painless and and effecient way to manage my money without having
to disclose Mexican bank info to the IRS as we have no funds on deposit in Mexico.
when we built our house we used Citibank for fund transfer to our contractor and once it was set up the process was also painless and the funds
usually arrived in two business days to my contractor's account.
Norm |
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Hook
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There is a Banamex branch in Nogales, Arizona. Someone from San Carlos went in there and asked if they opened an account there, could they then access
pesos from their account at Banamex branches in Mexico. Outside of using an ATM, the answer was NO.
In fact, they dont even exchange dollars for pesos or vice versa at that Banamex USA branch that is maybe 1.5 miles from the border.
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Bob and Susan
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i have citibank...they suck
i tried banamex because they were "afiliated" to citibank
lots of fees
bancomer is in mulege...no "real" ties
they are spanish...or something else
i went to bancomer at the border
they have the same name BUT are a different company
lots of fees
did you guys know there are taxesif you deposit too much in a mexican bank
my advice if building...bring a BIG suitcase...and exchange dollars for pesos at the border...its the mexican way
[Edited on 3-1-2012 by Bob and Susan]
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MitchMan
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Banks of foreign countries are not 'affiliated' in an integral way. They can't because different countries have separate sovereignty over their own
financial sector, institutions, and banks and accordingly must be maintained separately. They can be 'associated' by allowing small conveniences like
ATM withdrawals with or without fees (which is nothing more than a transfer of funds). But, the banking systems must be maintained separately,
separate economic entity and separate accounting and subject to separate regulation bytheir respective governments.
An American parent company can own a foreign affiliate, but that foreign affiliate operates in that foreign jurisdiction and location in that foreign
country's separate banking system. Things are better that way and more controllable and more accountable.
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EnsenadaDr
Banned
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Location: Baja California
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Mood: Move on. It is just a chapter in the past, but don't close the book- just turn the page
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What's the problem??
How else do you want to take money out of a bank in Mexico? Write checks? What's wrong with an ATM that doesn't charge? | Quote: | Originally posted by Hook
There is a Banamex branch in Nogales, Arizona. Someone from San Carlos went in there and asked if they opened an account there, could they then access
pesos from their account at Banamex branches in Mexico. Outside of using an ATM, the answer was NO.
In fact, they dont even exchange dollars for pesos or vice versa at that Banamex USA branch that is maybe 1.5 miles from the border.
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EnsenadaDr
Banned
Posts: 5027
Registered: 9-12-2011
Location: Baja California
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Mood: Move on. It is just a chapter in the past, but don't close the book- just turn the page
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Bank of America..
Bank of America charges through the roof at any other ATM in Mexico...they charged me almost $10 American to take out $5000 pesos...I will have to
double check with Santander...I find it hard to believe Bank of A does anything for free... | Quote: | Originally posted by Udo
This is the type of answer I was looking for
| Quote: | Originally posted by SFandH
Bank of America and Banco Santander.
There are no fees when using a BofA ATM card at a Santander bank.
[Edited on 2-29-2012 by SFandH] |
[Edited on 2-29-2012 by Udo] |
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LisaR.
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Location: Chapala, Jalisco
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I was looking for the same information to avoid ATM fees for an upcoming trip, and here is what I got off the BofA website:
Important Information
ATM fees do not apply at some ATMs located outside the United States. You will not pay a fee when you use ATMs of our Global ATM Alliance partner
banks in the following countries:
Barclays (England, Scotland, Wales, Northern Ireland and the Channel Islands)
BNL D'Italia (Italy)
BNP Paribas (France)
Deutsche Bank (Germany)
Scotiabank (Canada and the Caribbean. Caribbean countries include: Anguilla, Antigua & Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman
Islands, Dominica, Dominican Republic, Grenada, Jamaica, Netherlands Antilles (St Maarten), St Kitts-Nevis, St. Lucia, St. Vincent & The
Grenadines, Trinidad & Tobago, Turks & Caicos Islands, US Virgin Islands)
Westpac (Australia and New Zealand)
Non-participating banks may charge additional fees.
In addition, Bank of America has arranged for you to use your debit or ATM cards in China at China Construction Bank ATMs (China Construction Bank
ATMs in Hong Kong are not included) and in Mexico at Banco Santander with no ATM Fee.
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SFandH
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Another good aspect of the B of A and Santander method is that the "eBanking" account type at B of A does not have any monthly fees if you stay within
the restrictions. If you use a banking service that is outside the restrictions they charge the full service checking account monthly fee for the
month you used the additional service.
I hesitate to promote "too big to fail" B of A, but it's a good deal.
[Edited on 3-1-2012 by SFandH]
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