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shari
Select Nomad
Posts: 13047
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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Bancomer no longer changes US$$$$
I went to the bank to do our normal deposit and after waiting an hour in a long line, the teller tell me that they have a new policy and one can no
longer deposit dollars in a peso account...nor can you exchange dollars for pesos anymore...you can imagine my dismay!
New government rules...to deal with dollars, you must have a dollar account...so off I go to another desk to open a new account...hard to believe.
They say it is to address narco money laundering. So manke sure you change our dollars at a Casa de Cambio close to the border.
Does anyone know if it is true with all banks or just Bancomer?
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Hook
Elite Nomad
Posts: 9009
Registered: 3-13-2004
Location: Sonora
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That's what people at Banamex have been saying for a couple months now.
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shari
Select Nomad
Posts: 13047
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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before, they said we had to deposit the dollars in our account...fine, OK..but the new rule as of last Monday is that you MUST have a dollar account.
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Hook
Elite Nomad
Posts: 9009
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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Sorry, I wasnt aware that there was a distinction. I have a Mexican peso account.
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akshadow
Nomad
Posts: 287
Registered: 2-1-2007
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dollar account?
Three weeks ago I waited 2:30 hours and changed my dollar account to Peso. Wonder if i can still deposit dollar check into account and take out
peso's?
| Quote: | Originally posted by shari
before, they said we had to deposit the dollars in our account...fine, OK..but the new rule as of last Monday is that you MUST have a dollar account.
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Ron San Felipe Oct, Nov. Feb. Mar. April. remainder in Juneau Ak
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BajaOkie
Junior Nomad
Posts: 68
Registered: 3-4-2010
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Shari,
Same thing happened to me in Mulege on the 11th. The ATM machine was down and I pulled out USD and was politely told that Bancomer can no longer
exchange cash. Was not told to open a Dollar account but would not just for this anyway.
Good luck to all you folks operating businesses.
KC
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shari
Select Nomad
Posts: 13047
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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it's not that big of a deal I guess but it was just time consuming...so now I can deposit dollars in the dollar account and then withdraw pesos out of
the bank machine & can transfer money over to my peso account for everyday use and paying bills etc...I dont get it...just more red tape and
accounts...you can still only deposit 15,000 at a time before you get charges a sur tax on it.
what is crazy is that a tourist cant exchange money anymore.
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David K
Honored Nomad
Posts: 64761
Registered: 8-30-2002
Location: San Diego County
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What about Canadian dollars... or do Canadians traveling to Mexico switch Canadian dollars to greenbacks when they enter the United States?
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shari
Select Nomad
Posts: 13047
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 think most canucks do that David...or just get pesos directly
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durrelllrobert
Elite Nomad
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Registered: 11-22-2007
Location: Punta Banda BC
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Mood: thriving in Baja
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More than a year ago Scotia bank started refusing to let me deposit US $ into my peso account so I withdrew all but 50 pesos from their ATM and I
haven't been back since.
Bob Durrell
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motoged
Elite Nomad
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Location: Kamloops, BC
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David,
When I travel in Mexico, I buy several hundred dollars worth of pesos from my bank in Canada so I have the local currency when I cross/land....and
get pesos from ATM's after that. I have learned to use the currency of the country that I am visiting.....they don't take pesos in Canadian
businesses....but could exchange them at a bank with some wrangling.
Very few USA businesses accept Canadian currency....even those close to the border....but there are a few exceptions.
I gave up on traveler cheques 20 years ago.
I also travel with two bank cards (separate accounts) and two credit cards (separate accounts)....and inform my credit card company of my travel plans
so they don't freeze my card when away.....but don't like to use the credit card if I can help it, as there is a few extra percentage points added to
foreign exchange rates....even in the USA.
Don't believe everything you think....
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Paula
Super Nomad
Posts: 2219
Registered: 1-5-2006
Location: Loreto
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We have been depositing checks on our US bank accounts to our Bancomer peso account for years.
I wonder if this applies only to cash, or if we can keep using checks and waiting eight days for the money to be available?
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boe4fun
Super Nomad
Posts: 1040
Registered: 1-22-2006
Location: Margaritaville
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Mood: Circling the drain........
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I'm confused as well. In the past I have electronically transferred US dollars to my Bancomer account. They would convert my deposit into pesos at
the exchange rate for that day. From what it sounds like, I'll no longer be able to do it this way???
Two dirt roads diverged in Baja and I, I took the one less graveled by......
Soy ignorante, apático y ambivalente. No lo sé y no me importa, ni modo.
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Bajajorge
Ultra Nomad
Posts: 2604
Registered: 10-13-2005
Location: Topaz Lake, NV/San Felipe
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| Quote: | Originally posted by motoged
David,
I gave up on traveler cheques 20 years ago.
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Wow, haven't heard the words "traveler cheques" in many years.
I'd love to try to use one in a Mom and Pop in Baja. 
Why do Liberals insist and demand that achievers pay the way for nonachievers who are to lazy to succeed, or are just failures by their own choice?
Criminals prefer unarmed victims, dictators prefer unarmed subjects.
Why do ignorant people continue their blabbering when it only proves to others how stupid they are.
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Hook
Elite Nomad
Posts: 9009
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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| Quote: | Originally posted by boe4fun
I'm confused as well. In the past I have electronically transferred US dollars to my Bancomer account. They would convert my deposit into pesos at
the exchange rate for that day. From what it sounds like, I'll no longer be able to do it this way??? |
No, I think you can still do that.
This is aimed at stemming outlets for the cartels to launder all their greenbacks.
Has anyone ever used the exchange services at xe.com? It sounds very tempting but I dont know what type of "cut" they take. It's definitely a
reputable site. Fully electronic transfers. But you must have a bank affiliation down here, I guess.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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| Quote: | Originally posted by motoged
David,
When I travel in Mexico, I buy several hundred dollars worth of pesos from my bank in Canada so I have the local currency when I cross/land....and
get pesos from ATM's after that. I have learned to use the currency of the country that I am visiting.....they don't take pesos in Canadian
businesses....but could exchange them at a bank with some wrangling.
Very few USA businesses accept Canadian currency....even those close to the border....but there are a few exceptions.
I gave up on traveler cheques 20 years ago.
I also travel with two bank cards (separate accounts) and two credit cards (separate accounts)....and inform my credit card company of my travel plans
so they don't freeze my card when away.....but don't like to use the credit card if I can help it, as there is a few extra percentage points added to
foreign exchange rates....even in the USA. |
Tho I am not in Canada, I do EXACTLY the same as Moto, but using USA banks. Works great for me.
Barry
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Pescador
Ultra Nomad
Posts: 3587
Registered: 10-17-2002
Location: Baja California Sur
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| Quote: | Originally posted by boe4fun
I'm confused as well. In the past I have electronically transferred US dollars to my Bancomer account. They would convert my deposit into pesos at
the exchange rate for that day. From what it sounds like, I'll no longer be able to do it this way??? |
According to the bank manager for Bancomer, since the new ruling came out, they will not allow you to transfer dollars into the account.
I use Chase in the United States and am able to transfer Pesos directly into my Mexican Bancomer account. I used to have to pay the tax (5%) on
those transfers that were over 15,000 pesos MN but by doing a wire transfer I do not have a tax to pay and I pay a flat amount for the wire transfer.
The old transfer cost $25 but if I convert to pesos then I pay $45 but pay no tax, so it is way ahead of what I was paying for ATM fees.
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micah202
Super Nomad
Posts: 1615
Registered: 1-19-2011
Location: vancouver,BC
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no Currency cashing in Baja???.........that's nutz!!!
.........I'm sure it'll really slow down the narcos if there's fewer tourists
.............up to last year,I had no problem to cash US/CDN ,,,would have some of each,,used whichever was stronger to the peso
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chinolbz
Newbie
Posts: 24
Registered: 10-9-2010
Location: Lake Havasu City, AZ
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Walked into the Banamex here in Barriles yesterday and changed dollars into pesos. As is normal, just needed a copy of my passport. Chino
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shari
Select Nomad
Posts: 13047
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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thank you Chini....that's what I was thinking...it's just Bancomer's new policy.
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