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Pilar2006
Junior Nomad
Posts: 55
Registered: 6-23-2006
Member Is Offline
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Opening a Mexican Bank Account
I'm leasing property in Baja and setting up a trailer with generator, hauling in water and using a cell phone.. so I don't have utilities. I'm a dual
US/Mexican Citizen .. how can I open a Bank Account? The Banks ask for a Utility Bill???
Thank You,
Pilar
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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don't you have a Mex. corp. and a business in Mexico? that should be enough.
Bruce R Leech
Ensenada
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djh
Senior Nomad
Posts: 936
Registered: 1-2-2005
Location: Earth mostly. Loreto, N. ID, Big Island
Member Is Offline
Mood: Mellow fellow, plays a yellow cello...
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If you are a Mexican citizen, isn't that enough for a bank acct.??
Maybe just proof of your Mex. citizenship... ??
I thought the utility bill was simply to prove residence for non-citizens seeking a bank acct. . . but I'm certainly not an expert...
Good luck.
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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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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Mex citizen, also must prove that they live somewhere. but usually a lease is enough . she might try another bank.
Bruce R Leech
Ensenada
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cabobaja
Nomad
Posts: 363
Registered: 9-19-2006
Location: South \"O\", Elias Calles, BCS
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Mood: Smiling
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The easiest way, if you do not have utility/water bill is to go to your local Delagado/Delagada and he/she will issue you a "Carta De Residencia". The
bank will accept this official letter, stamped and signed by the Delagado/Delagada.
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gnukid
Ultra Nomad
Posts: 4411
Registered: 7-2-2006
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In my experience in La Paz Banorte, the request for a cobrabante or current utility can be satisfied with anyone's current bill. That is, you just
need someone to give you the receipt for their paid bill. It would be nice if you also a reference from someone who exists here and put their address
and name and phone on the application. Strange I know but oddly the bill doesn't have to be yours, just a current bill from someone you know. Funny
but really it makes sense that you have some roots here if you have someones bill. Don't sweat it. Beside those of us who do live here know, that
bills rarely have the correct name or address of the homeowner nor do they have the correct office address. It is just a formality. You should make a
bunch of copies of it to facilitate all of you legal requirements. Show them the real one and give them a copy. Be confident.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
Member Is Offline
Mood: A lot cooler than Mulege
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I cant imagine someone that is buying , selling subdividing land and forming partnerships in Mexico doesn't know how to open a bank account
Bruce R Leech
Ensenada
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Al G
Ultra Nomad
Posts: 2647
Registered: 12-19-2004
Location: Todos Santos/Full time for now...
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Mood: Wondering what is next???
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| Quote: | Originally posted by Bruce R Leech
I cant imagine someone that is buying , selling subdividing land and forming partnerships in Mexico doesn't know how to open a bank account |
Well...Bruce, I can understand this...There are many things to learn...each has it's time and some people have different priority. I can see me taking
care of the most important and holding off opening a personal account until later....But then with me anything is possibly 
Albert G
Remember, if you haven\'t got a smile on your face and laughter in your heart, then you are just a sour old fart!....
The most precious thing we have is life, yet it has absolutely no trade-in value.
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bajabound2005
Ultra Nomad
Posts: 2760
Registered: 10-15-2005
Location: Punta Banda, BCN
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Mood: words cannot describe...
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Take a look at Scotiabank. Friends just opened an acct there and it was easy. Also, you can access their website in English.
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sylens
Senior Nomad
Posts: 584
Registered: 4-6-2005
Location: Ensenada
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Mood: ando bajando
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why
do you want to open a mexican bank account? my husband did just to facilitate fm3 renewals, but if you are a citizen, what's the point?
i advise against it, frankly. it is a royal pain in the horse to conduct any banking here...
jmho
lili
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Dave
Elite Nomad
Posts: 6005
Registered: 11-5-2002
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Yeah, I'll bet it was easy
Now you see it...Now you don't! 
| Quote: | Originally posted by bajabound2005
Take a look at Scotiabank. Friends just opened an acct there and it was easy. Also, you can access their website in English.
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Scotiabank did a first rate magical act in stealing over 1k of my money.
WARNING: Even though you might think it's part of the same transaction... ALWAYS make sure the clerk posts deposits before withdrawals.
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Bruce R Leech
Elite Nomad
Posts: 6796
Registered: 9-20-2004
Location: Ensenada formerly Mulege
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Mood: A lot cooler than Mulege
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I ALWAYS make the clerk posts deposits before I give them the withdrawals.
I know exactly what you mean Dave you need to watch them very closely at all of the banks here in Mexico.
Bruce R Leech
Ensenada
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awfulart
Nomad
Posts: 260
Registered: 5-10-2003
Location: Rio Rico AZ
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Mood: Wondering what our Nit-Wit elected officials are doing now?
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I don't know how current this info is but it might be useful to some.
Art
Home > News > Wal-Mart is one of five new banks authorized to operate in Mexico
Wal-Mart is one of five new banks authorized to operate in Mexico
Mexico – Mexico’s government said that it authorized the creation of five new banks, among them a subsidiary of the U.S. corporation Wal-Mart, which
will become one of 13 new institutions being added to the country’s financial system.
The new banks authorized to operate are Banco Comercial Del Noreste, Banco Fácil, Bancoppel, Banco Wal-Mart de México, Adelante and Prudential Bank.
The approval of these institutions initiated the final stage of a long process of evaluation to allow the entry of new operators in the banking
system, said Hacienda in a statement.
The government said that the creation and the operation of the new banks required the authorities to undergo a “detailed process” to guarantee the
“financial and operational viability, as well as economic and moral solvency for shareholders”.
The government announced that in the next few weeks they will pass a final resolution for these banks, which will depend on the banks fulfilling the
minimum capital requirement for their creation.
This year, the government authorized the creation of eight new banks, of which four have already begun operations; the remaining banks are in the
process of initiating operations.
The authorized banks are Banco Autofin México, Barclays Bank México, Banco Compartamos, Banco Monex, Banco Ahorro Famsa, Banco Multiva, Banco
Regional, UBS Bank México.
The government said that the entry of these new participants into the market will create greater competition to benefit financial services consumers.
(EFE)
MATT Says:
It has become popular to criticize Wal-Mart for its expansion tactics and the unfortunate impact it has often had on local small businesses across the
United States. And Wal-Mart is not without other faults. The company has had to answer for a terrible error it made in contracting with a janitorial
agency which hired illegal immigrants to clean Wal-Mart’s stores at night, after hours. It is clear that the workers were paid low wages and did not
have access to medical insurance, which made for cheap labor for the contractor and the retail behemoth. The company settled a lawsuit for $11
million.
But when we see a new Wal-Mart idea that could have a positive impact we’ll speak out about it, especially as it relates to our mission of bridging
together Mexicans and Americans.
Wal-Mart has seen its business in Mexico grow rapidly. We’ve seen it become a major employer in different regions of Mexico. And its growth strategy
involves not only the number of store locations and jobs, but also the services provided within each store.
Wal-Mart is apparently poised to receive a banking license in Mexico, which will allow it to provide banking services to millions of Mexicans. In
addition, it will allow Wal-Mart to tap into the lucrative money-transfer or remittances market.
According to BusinessWeek magazine, Wal-Mart, which has 863 outlets in 130 Mexican cities, is receiving the support of “Mexican officials who want to
boost competition in financial services and cut the sky-high fees and interest rates charged by Mexico’s big banks. They also want to spread banking
services to the 80% of Mexicans who have never had a bank account.”
What we find remarkable is that while the company and its stockholders will surely profit from this business strategy, it might also almost
single-handedly transform lives and the Mexican marketplace. For many of Mexico’s poorest, the astronomically high prices for money transfers and
other unique banking services make it harder to make ends meet. The reality is that the current near-monopoly on money-transfers affects lives. And we
sense that Wal-Mart will help fix this problem, much as Wal-Mart is doing with prescription drugs in the United States.
We’re cautiously optimistic about this development, though we also believe that Wal-Mart has a responsibility to do more to help Mexico’s people who
are at the center of its business strategy in the country.
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
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Sylens: I had a Peso Acct/ with the Bank in Constitution all during the years I lived in Loreto; Would buy 28 Day notes; Invested $5,000 at the Start,
played the Devalue Game and made $40,000 in 2 years. Highest Interest was 145%.
Had and did Real Estate Business with a Dollar Account in La Paz; Very good service, Much better than what Wells Fargo is doing now, -- Selling your
name to Insurance Companies who call and try to Trick you into signing on to Disability.
No! I think you are a "Way out of Line with your Statement". I have dealt with many Banks and I can assure that you will have much better , kind, and
Honest dealings with Mexican Banks.
Skeet/Loreto
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longlegsinlapaz
Super Nomad
Posts: 1685
Registered: 11-18-2005
Location: La Paz
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Larry:
Maybe with your BIG BUCK job , you aren't familiar with the term
"Overdraft"! But some of us on limited income can get to a point where we gotta refill
the coffers before we can take out a few centavos! That turn on
any for ya?
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
Member Is Offline
Mood: It's a Zip-a-Dee-Doo-Dah Day
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Capricious Mex Banking
Like so many things Bureaucratic in Mexico, the Banking system leaves much to be desired in consistency.
I DO have a Bancomer Account for FM3 purposes and have never had a problem (or received a statement), although I'm mildly apprehensive each year when
my FM3 broker goes to the bank to get a current statement. So Far (five years), So good. I made the decision to not use the account for any other
purposes due to the relatively high service charges that can occur. I simply maintain whatever minimum balance required for the (2) FM3s.
I can think of few problems that would make me want to do banking through the Mex Banks rather than my U.S. banks. The profiteering due to usury
interest rates that Skeet describes is gone so the profit versus risk factor doesn't seem appropriate.
The most important lesson to be taken from the Variety of experiences quoted by various Nomads, Positive and Negative, are no doubt
ALL True and therein lies the problem. You might be lucky, you might not. You pay your money and you take your chances. Buena Suerte.
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bancoduo
Banned
Posts: 1003
Registered: 10-3-2005
Location: el carcel publico mazatlan sin.
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| Quote: | Originally posted by Pilar2006
I'm leasing property in Baja and setting up a trailer with generator, hauling in water and using a cell phone.. so I don't have utilities. I'm a dual
US/Mexican Citizen .. how can I open a Bank Account? The Banks ask for a Utility Bill???
Thank You,
Pilar |
What happened to you? You were selling a eco- development in Colonet, your husband was a developer
and now your trailer trash. You don't know how to open a Mex. bank account. What happened to your investers and your beautiful house you showed on
your website. Something is wrong with this picture!
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bajabound2005
Ultra Nomad
Posts: 2760
Registered: 10-15-2005
Location: Punta Banda, BCN
Member Is Offline
Mood: words cannot describe...
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I have to disagree with bancoduo; this IS Mexico and things don't always happen in the logical order! And I, for one, or my hubby and I , for TWO, do
plan to open a Mexican bank acct for nothing more than convenience!
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osoflojo
Nomad
Posts: 378
Registered: 10-29-2004
Location: c.s.l./b.c.s.
Member Is Offline
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To amplify what gnukid said earlier. I do not own my property, I rent it and have done so for 14 years. Each FM-3 renewal and when I also opened my
bank account a copy of the electric bill was asked for. The utilities at my house are in my landlords father in laws name. No problem. Ever. But then
again thats Cabo, not elsewhere.
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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
Member Is Offline
Mood: It's a Zip-a-Dee-Doo-Dah Day
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Renting, Leasing
Not having any utility bills since there are no utilities, I opened my account with a letter from the owner of the property stating that I had been
living there for 19 years and was a person of good character (well, some people think so). Interestingly, my written (en espanol) and notarized Lease
document and a current lease receipt were not considered good enough by Bancomer in San Felipe. Neither was my "original GoodGuy Lessee" letter from
the Patron because the date on it was over 60 days old. As I said before, there is a certain improvisation to all things bureaucratic.
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