henshaw
Junior Nomad
Posts: 86
Registered: 4-9-2009
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US DOLLAR NO GOOD?
An interesting thing happened to me in Tecate today. We went to Bancomer where we have had an account for quite some time only to find out that they
DO NOT accept the US dollar any longer, not even as a deposit into my existing account. As nearly as I could understand I believe he was saying that I
had to go to the Banco where the account was opened to exchange USD for pesos. Now Los Barriles is a long drive with no pesos in your pocket and the
dollar no longer accepted. What did I miss in the translation?
You can\'t fix stupid
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jureal
Nomad
Posts: 111
Registered: 9-8-2006
Location: Torrance, CA
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Go to a cambio to exchange to pesos. You may have to cross to the US side.
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durrelllrobert
Elite Nomad
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Location: Punta Banda BC
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Mood: thriving in Baja
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It's all to prevent money laundering
| Quote: | Originally posted by henshaw
An interesting thing happened to me in Tecate today. We went to Bancomer where we have had an account for quite some time only to find out that they
DO NOT accept the US dollar any longer, not even as a deposit into my existing account. As nearly as I could understand I believe he was saying that I
had to go to the Banco where the account was opened to exchange USD for pesos. Now Los Barriles is a long drive with no pesos in your pocket and the
dollar no longer accepted. What did I miss in the translation? |
www.bloomberg.com/.../money-laundering-crackdown-cuts-mexica...
This was from Nov. 2010
"The restrictions that took effect two months ago limit cash dollar deposits by Mexican individuals to $4,000 a month. Foreign tourists can
change as much as $1,500 monthly to personal accounts.
Bob Durrell
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Chupacabra
Nomad
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Location: La Jolla, CA
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| Quote: | Originally posted by henshaw
US DOLLAR NO GOOD? |
No worries. If the dollars you have are no good, the Fed will print new ones for you.
************************************
WTF
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rts551
Elite Nomad
Posts: 6700
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I believe the problem is putting dollars into a peso account. They will no longer do that. You need to have a dollar and a peso account. deposit to
the dollar account and then transfer to the peso account.
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terrigreen
Newbie
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Ouch! Maybe you might want to consider changing banks. We use Santander. No fees. We put dollars into peso accounts, and at times transfer money from
our U.S. bank into Santander also no fees on either side. Just an idea...
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larryC
Super Nomad
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Or you can go to a ATM and get pesos out of your credit card. I find I get a better exchange rate doing that than using a casa de cambio.
Larry
Off grid, 12-190 watt evergreen solar panels on solar trackers, 2-3648 stacked Outback inverters, 610ah LiFePo4 48v battery bank, FM 60 and MX60
Outback charge controllers, X-240 Outback transformer for 240v from inverters, 6500 watt Kubota diesel generator.
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MitchMan
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If you have both a peso and a USD account at Santander, is the exchange rate, at the same point in time, the same for transfers from the USD to the
Peso account and for transfers from the Peso account to the USD account?
Anybody Know? If the rates are different, which direction has the higher rate and ... this is critical...how much higher?
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BajaRun
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Where are the Santander locations in Baja ?
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bajaguy
Elite Nomad
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Location: Carson City, NV/Ensenada - Baja Country Club
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Mood: must be 5 O'clock somewhere in Baja
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| Quote: | Originally posted by BajaRun
Where are the Santander locations in Baja ? |
Several banks and many ATM's in Ensenada
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BajaRun
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| Quote: | Originally posted by bajaguy
| Quote: | Originally posted by BajaRun
Where are the Santander locations in Baja ? |
Several banks and many ATM's in Ensenada |
Several Santander branches and ATM's in Ensenada ??
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mtgoat666
Select Nomad
Posts: 19326
Registered: 9-16-2006
Location: San Diego
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Mood: Hot n spicy
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anybody using the new US $100 bills? now that there are 3 $100 bills in circulation, how long until the oldest of the 3 is not accepted in mexico?
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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| Quote: | Originally posted by terrigreen
Ouch! Maybe you might want to consider changing banks. We use Santander. No fees. We put dollars into peso accounts, and at times transfer money from
our U.S. bank into Santander also no fees on either side. Just an idea... |
WHICH US bank charges no fees to move money from it to Santander? Are you doing an EFT or a money wire?
My credit union will NOT do an international EFT. They make it sound like there is some law against it.
[Edited on 10-24-2013 by Hook]
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dasubergeek
Senior Nomad
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It used to be Bank of America, but they started charging money for it in March of this year.
EDIT: Here's a newspaper article about it. http://www.ocregister.com/articles/money-498004-program-tran...
[Edited on 10-24-2013 by dasubergeek]
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
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Mood: must be 5 O'clock somewhere in Baja
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| Quote: | Originally posted by BajaRun
| Quote: | Originally posted by bajaguy
| Quote: | Originally posted by BajaRun
Where are the Santander locations in Baja ? |
Several banks and many ATM's in Ensenada |
Several Santander branches and ATM's in Ensenada ?? |
Yup, sorry, I forgot to insert "Santander"
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cliffh
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Location: buena vista, BCS
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Mon. at Scotiabank Ensenada, ATM net 12.76 , how does that compare? thanks cliff
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bacquito
Super Nomad
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Registered: 3-6-2007
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| Quote: | Originally posted by terrigreen
Ouch! Maybe you might want to consider changing banks. We use Santander. No fees. We put dollars into peso accounts, and at times transfer money from
our U.S. bank into Santander also no fees on either side. Just an idea... |
No problem with Santander but BofA most likely will start charging for such a transfer in Dec.
bacquito
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bacquito
Super Nomad
Posts: 1615
Registered: 3-6-2007
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Mood: jubilado
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| Quote: | Originally posted by bajaguy
| Quote: | Originally posted by BajaRun
Where are the Santander locations in Baja ? |
Several banks and many ATM's in Ensenada |
Good news-Santander is opening a branch at the Macroplaza next to Banorte
bacquito
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Hook
Elite Nomad
Posts: 9011
Registered: 3-13-2004
Location: Sonora
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Mood: Inquisitive
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| Quote: | Originally posted by bacquito
| Quote: | Originally posted by terrigreen
Ouch! Maybe you might want to consider changing banks. We use Santander. No fees. We put dollars into peso accounts, and at times transfer money from
our U.S. bank into Santander also no fees on either side. Just an idea... |
No problem with Santander but BofA most likely will start charging for such a transfer in Dec. |
HOW do you transfer from B of A to a Santander without fees? I have a B of A account and the only fee-free way of doing this is simply using a
Santander ATM to withdraw funds directly from your B of A account. But that is not a transfer.
Are you talking about wiring money from B of A to Santander. That is not free.
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