# Today's trip to Banamex



## Gatos (Aug 16, 2016)

On the way out the front gate this morning the guard handed us our mail. There was an 'urgent' letter fron Citi/Banamex saying they had been informed by the IRS that the 'name' they are reporting for my SSN did not match the one they have on file. If I didn't provide a valid W9 by December 21 I would be subject to a 28% withholding. So we were driving into town anyway - stopped by the bank and the very helpful account rep printed off 3 new copies of the existing W9 already on file and I signed them again. I wonder - all my US tax returns have only ever had my middle initial - but here in Mexico my middle name is always shown in its entirety. Just to be safe - I signed 3 more blank w9's that they can fill out however they would like...

While there - the account rep - who played US football at UNLV - slide across his desk an offer of 14% interest, for 3 years. He was genuinely proud. I thought it was an investment offer - but no - it was for a personal loan. I can only guess that if you have a large balance on a Mexican credit card at 45% - 14% sounds good ?

Finally - I'm not liking these US companies taking over Mexican companies. Citbank/Banamex is a good example. Even the Banamex employees say it is not going very well. Another is AT&T taking over IUsacell. I'm switching over to Telcel.


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