# Alert - banamex usa closing expat accounts



## lagoloo

BANAMEX USA is sending letters to its customers here that it is closing all our accounts as of June 30.

No more SS check deposits: no more linking of accounts to Banamex Mexico, no more credit card, no more ATM for free, no more nada.

I had my doubts when I read this on my local forum, so I called the 800 number and spoke with a representative. It's all true. "Bank decision" no reason given. 

We are now scrambling to find a new U.S. bank which does not require we be there in the U.S. in person to open an account; have a U.S. drivers license or a U.s. address. We would like to have that FDIC insurance before handing over our money.

So: this is a heads up. Anyone have any ideas; they will be welcome. Please, check the information and let's not just speculate. 

Holey moley!!!


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## chicois8

lagoloo said:


> BANAMEX USA is sending letters to its customers here that it is closing all our accounts as of June 30.
> 
> No more SS check deposits: no more linking of accounts to Banamex Mexico, no more credit card, no more ATM for free, no more nada.
> 
> I had my doubts when I read this on my local forum, so I called the 800 number and spoke with a representative. It's all true. "Bank decision" no reason given.
> 
> We are now scrambling to find a new U.S. bank which does not require we be there in the U.S. in person to open an account; have a U.S. drivers license or a U.s. address. We would like to have that FDIC insurance before handing over our money.
> 
> So: this is a heads up. Anyone have any ideas; they will be welcome. Please, check the information and let's not just speculate.
> 
> Holey moley!!!




Well I do not who is telling the truth but after reading your post I called the 800 number and the representative stated it is not true, they are still a member of Citi bank group .and nothing has changed........who knows ????????


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## joaquinx

lagoloo said:


> BANAMEX USA is sending letters to its customers here that it is closing all our accounts as of June 30.


Did you receive one of these letters or was it someone else who told you about the letter?


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## lagoloo

As I stated in my post, I called the representative, who looked up my account and assured me that the letter is in the mail.
Yes, my account will be closed.

Others are reporting that not all accounts will be closed, but no one is willing to say why. My account has been with them for over ten years. Never had a problem with the bank. It's been linked to the Banamex Mexico account for at least nine years.

I would suggest that anyone who is a customer call them up at their 800 number, have the representative look up their account and get the information directly.

I would never rely on "someone else's" information on this important a matter. That would be just plain dumb.


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## chicois8

chicois8 said:


> Well I do not who is telling the truth but after reading your post I called the 800 number and the representative stated it is not true, they are still a member of Citi bank group .and nothing has changed........who knows ????????


This is what I wrote a couple hours ago, he said I would be getting a letter by Fedex or DHL in a few days, after looking up my account he said nothing would change, maybe the difference is I do not have a Banamex account ( where I could make $10K transfers a day) and do not need to have any Mexican bank account...now with all the FATCA BS happening I am glad I don't have one...


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## lagoloo

Lucky you. It was advised by "experts" some years ago that it was the "thing to do" and of course we were influenced by the fact that we could get pesos at the Banamex ATM'S fee-free.
I have no idea what the criterion for closing some accounts and not others could be. Our balances have been all over the block over the years in terms of high or low. A little bird is telling me it has something to do with the govt.


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## Longford

Many expats who full-time RV in Mexico, and elsewhere in North America, and who have no bricks and morter residences establish residences in South Dakota which welcomes such residency and, therefore, they are able to establish banking relationships and have a place/bank at which to deposit their SS and other checks and have a mail forwarding service. Maybe such a residency will work for people finding themselves with no other options.


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## DennyDaddy

American Expats after July 1 may have problems with banks outside the US, and some banks will not anymore except US dallars, because of a new US Federal Law that goes into affect July 1st?
When my wife took a trip to Thailand last month, she had a grand or so in US money. She went all over Bangkok to dozens of banks, includeing US owned banks, and all but one would exchange the US money.
Bancomer, has as of now put a limit of 1500 bucks US, into expats accounts now; per month.
Look up the Federal Law on line the 1July, 2014 one:

http://investmentwatchblog.com/treasury-tweaks-u-s-anti-tax-dodging-law-effective-on-july-1

Banks just do not want to deal with the new IRS laws it puts on overseas out of country banks. If their banks have assets in the US, they can be fined, some will just drop US ciz from haveing accounts with their banks. They just do not want to deal with the paperwork the IRS is putting on them, and the costs involved.

On not accepting US money, they know the US dallor is going to crash. FYI

dd


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## joaquinx

chicois8 said:


> This is what I wrote a couple hours ago, he said I would be getting a letter by Fedex or DHL in a few days, after looking up my account he said nothing would change, maybe the difference is I do not have a Banamex account ( where I could make $10K transfers a day) and do not need to have any Mexican bank account...now with all the FATCA BS happening I am glad I don't have one...


This is all very strange to happen without a explanation from the bank. Could this be happening only to those accounts that do *not* have a US address, but a Mexican or other foreign address?


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## citlali

When we tried to open an account without a US address we were turned down by various banks because we did not have a US address so why wouldn´t they give that as a reason if it was so.?


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## joaquinx

citlali said:


> When we tried to open an account without a US address we were turned down by various banks because we did not have a US address so why wouldn´t they give that as a reason if it was so.?


Open an account with an US address and then change it to a Mexican one after one moves to Mexico.


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## PanchodeSMA

Folks on both the Chapala and La Manzanilla boards are posting the about receiving cancellation notices.


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## citlali

we have no US address none..no family there . Also I am not a US citizen and do not have a resident visa inthe US..


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## DennyDaddy

One more thing....when you get a bank account with an Mexican bank they list your country your from. So that new IRS 
Law that goes in effect July 1, will only affect Americans. I wonder around around the world will banks drop American account holders! The law will put a paper burden on these banks, and its said that it will also weaken the US dallor.

dd


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## joaquinx

DennyDaddy said:


> . . . and its said that it will also weaken the US dallor.


You got your gold under the bed or hidden in your mattress?


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## DennyDaddy

Nope, gave it to my X girlfriend to hold!


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## Longford

DennyDaddy said:


> On not accepting US money, they know the US dallor is going to crash. FYI


Thanks for the heads-up. :scared:


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## DennyDaddy

Longford....

Scared..yes! To much borrowing by the US Gov and monster social programs it can't afford, and throw in a fiscal policy to boot!


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## Longford

You may want to read this:

Mexico, the United States and FATCA


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## Longford

DennyDaddy said:


> Longford....
> 
> Scared..yes! To much borrowing by the US Gov and monster social programs it can't afford, and throw in a fiscal policy to boot!


That might be a topic for the USA forum, or the Chat forum here (a link to which is found at the top of the Mexico forum page) ... but I think you're straying a little into the twilight zone here.


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## joaquinx

DennyDaddy said:


> Longford....
> 
> Scared..yes! To much borrowing by the US Gov and monster social programs it can't afford, and throw in a fiscal policy to boot!


You forgot to mention the undeclared and un-budgeted wars. Those are the monster programs not the social ones.


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## lagoloo

Back on topic: For those of us who moved to Mexico and no longer have a U.S. address or a person who will pretend we live at their U.S. address, does anyone have any practical suggestions about finding a U.S. bank into which our SS checks can be deposited? Or are we stuck with having them sent to a Mexican financial institution with no insurance on their accounts? 
I have downloaded the account application for the online ALLY bank and of course, it wants proof of U.S. residence: no P. O. Boxes. From the looks of others in a net search, same deal everywhere.
I like it here, and have no desire to move back to the "Land of the Free and the Home of the Brave" in any form other than an urn shipped to my heirs, but my native land is sure making expats' life increasingly troublesome in the financial dept.
Any ideas?


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## Isla Verde

Longford said:


> You may want to read this:
> 
> Mexico, the United States and FATCA


Too many "whereas" for me. And I don't understand legalese in English or any other language. Maybe there's an app to translate this document!


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## Isla Verde

Longford said:


> You may want to read this:
> 
> Mexico, the United States and FATCA


Or this: FATCA :: American Citizens Abroad (ACA).


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## DennyDaddy

Longford said:


> That might be a topic for the USA forum, or the Chat forum here (a link to which is found at the top of the Mexico forum page) ... but I think you're straying a little into the twilight zone here.


Twilglight zone???? I do not know how this can be the "twilght zone" when what the US Gov does with its IRS policies and fiscal policies tha affects us xpats and caues the value of our money to become almost worstless! That july 1 new law is for us expats and people from the US to be spied on....who bank out of the US,and make sure you pay US taxes...I'm ok with paying my US taxes. But what it does is piss off banks that have US account holders! This law does really not affect US bank account holders in US, business as usuall. so no need to be in the US forum. Look what the value of the US dallor is buying you today?..
I am not happy being on fixed limitted income and watching the value of the purchageing power of my green backs being loseing value because of our gov policies. Wait, the exchange of the dallor to the Mex dallor will fall.
Yes, that will affect me here living in Mexico, also most expacts on limited income, and have you been to the states lately, prices are riseing because of that! Raiseing prices are really in affect because of the devale of our money!
QE 1,2,3 has just put the date of doom off for a while. People, even xpats should should investergate, and figure out how, what to do! Inore the problem will not make it go away.....
Collect your nuts now and put them in your nest or make sure your greenbacks are exchanged to something else. fYI


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## MeroRandy

*Direct Deposit*

Hello All. I have been living in Mexico for 2+ years now. Both my Social Security and a private pension have been direct deposited to a Banamex USA account. From there I have been able to transfer funds to my Banamex account here in Mexico without charge.

Banamex USA just notified me that my account will be closed as of 6/30/2014. There is no problem changing my Social Security deposit to go directly to my Banamex account. But the private pension/insurance company tells me that their computers are not yet able to do this.

So my question is whether anyone knows another way to achieve this. I am not interested in opening another U. S. account, since I suspect that what happened with Banamex USA will be happening with other U. S. banks. At this moment the only option I have is to have the pension check mailed to me, which is not something that inspires a lot of confidence.

Any ideas or suggestions are appreciated. Thank you.


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## Longford

DennyDaddy said:


> Collect your nuts now and put them in your nest or make sure your greenbacks are exchanged to something else. fYI


Which "nuts" are you referring to:









Source: Living like a tourist: January 2011

or these:









Source: My Week in the Psych Ward! | Life, Interrupted...

:help:


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## Hound Dog

_


joaquinx said:



Open an account with an US address and then change it to a Mexican one after one moves to Mexico.

Click to expand...

_There is much nonsense posted on this thread but this advice from joaquinx is solid and those of you having yet moved to Mexico or any other foreign country from the United States should follow his stated rule. Have your account(s) established in the U.S. before you leave there and establish residency in any other country worldwide and, eventually,in my personal opinión, you can also forget the use of phony U.S. addresses because Big Brother is watching and getting smarter by the day about these formerly seemingly innocent scams. They may, in fact, just be after the wealthy tax cheats but, in the process of tracking those people, everyone comes under increased scrutiny, even middle-class retirees living overseas who have committed no legal offenses.

As for the reason you cannot open a U.S. bank account with a foreign address - thank Bin Laden, the World Trade Center and resulting U.S. government paranoia leading to implementation of the Patriot Act and other mindless legislation. In this sense, in the long run, Bin Laden and his cronies were at least partially successful in damaging the core principles of the world´s premier capitalist state. Do not expect things to improve in our lifetimes.

Some advice based on our experience over the past 13 plus years:
* While you´re still resident in the U.S., open an account with a bank/brokerage house with international experience as opposed to BillyBob Bank in Pocatello. You may find you need to seek advice and help from a bank with a significant international clientele after you move abroad and become an acknowledged international client forgetting that phony Laredo, Texas drop box supposed to disguise the fact that you no longer reside in the U.S.
* As we can see preliminarily by the seeming problems regarding relationships promising international inter-bank services such as no-fee ATM transactions, shoot for a higher level and bear in mind that if you keep minimal balances in your bank accounts, some day your bank will catch on that your account is unprofitable and may unceremoniously close your account as well they should. The bank, after all, is a profit oriented organization, not an open community ditty bag offering free treats for passers-by. 
* Despite what some have inferred in posts on this thread preceding mine, anyone who predicts the demise of the dollar in value or as a world basic currency has no idea what they are talking about. This may or may not happen. No one knows but I can say this, the collapse of the dollar if that comes about, portends the collapse of international commerce and the values of many other currrencies so, I say, keep your residual wealth, whatever that may be, in dollars and limit your risks in Mexican or other financial institutions even if those institutions hilariously promise you your accounts are insured - a colossal joke outside of the FDIC so I hope you have a great sense of humor as they dish out the gruel down at the soup kitchen.

If possible, you need to own the unmortgaged roof over your head and have sufficient cans of beans to survive a while and, as Hank Williams, Jr. wrote a while back, _A Country Boy Can Survive._

Just my opinión offered lightly and nothing more. 


.


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## MeroRandy

I received a letter from Banamex USA. The reason is very vague, saying, "...based on a recent review of your relationship with Banamex USA, we can no longer service your account."

I called this morning for clarification, but was told only that it is a "bank decision."


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## makaloco

I don't have a Banamex account, but this may be be relevant:
Citigroup's Border Woes Go Deeper - WSJ.com


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## Isla Verde

makaloco said:


> I don't have a Banamex account, but this may be be relevant:
> Citigroup's Border Woes Go Deeper - WSJ.com


You can't read this story without having a paid subscription the the WSJ.


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## joaquinx

DennyDaddy said:


> Collect your nuts now and put them in your nest or make sure your greenbacks are exchanged to something else. fYI


Aka, the Chicken Little Syndrome.


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## Isla Verde

joaquinx said:


> Aka, the Chicken Little Syndrome.


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## makaloco

Isla Verde said:


> You can't read this story without having a paid subscription the the WSJ.


That's weird ... it came up in Google and I read it, then copy/pasted the URL. I don't have any kind of subscription to the WSJ. Sorry!

It tells about Citi firing two Banamex USA execs last year over concerns about cross-border fund transfers. Then this month 12 more employees, this time at Banamex Mexico, were fired over a fraud incident. Apparently there are concerns over not implementing appropriate anti-money-laundering measures, etc.


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## MeroRandy

Now after reading that Banamex (Mexico) employees were fired in action related to the firings of the Banamex USA execs, one has to wonder how long before Banamex starts sending notices and closing accounts of Americans. I hate the idea of being forced to return to the USA because I have no way to manage my money in Mexico.

Already it appears that a check for my private pension will have to be mailed to me since I no longer have an account in the U. S. and no way to open one. I am checking to see if it can be sent via DHL or another more secure method. But things will be way more complicated if the Mexican banks start giving us the boot.


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## Hound Dog

MeroRandy said:


> I received a letter from Banamex USA. The reason is very vague, saying, "...based on a recent review of your relationship with Banamex USA, we can no longer service your account."
> 
> I called this morning for clarification, but was told only that it is a "bank decision."


Now, I don´t know you MeroRandy, as you know but I was a commercial banker for some 40 years and I can, perhaps, inform you and others who have posted on this thread, what this seemingly sudden and rude dismissal means for the most part. In your case, I don´t know, but, for the most part, that means that the accounts maintained and being closed were too small or perhaps overutilized to be profitable so they are cleaning out the closets of nuisance cobwebs. Bankers are not very smart but now people such as Banamex and its U.S. parent are realizing that it is a burden on their profits to maintain numerous small, chickensh*t accounts that actually cost them money rather than return a reasonable profit margin so they decided to close those accounts in a rather rude and abrupt fashion but what the hell do they care who they offend when that offfended party is being told to take a hike forthwith and without hesitation.

I don´t expect my plumber to lose money on my behalf when he /she crawls under my sink so why should I expect my banker to lose money cashing my checks?


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## MeroRandy

Hound Dog said:


> MeroRandy said:
> 
> 
> 
> I received a letter from Banamex USA. The reason is very vague, saying, "...based on a recent review of your relationship with Banamex USA, we can no longer service your account." I called this morning for clarification, but was told only that it is a "bank decision."
> 
> 
> 
> Now, I don´t know you MeroRandy, as you know but I was a commercial banker for some 40 years and I can, perhaps, inform you and others who have posted on this thread, what this seemingly sudden and rude dismissal means for the most part. In your case, I don´t know, but, for the most part, that means that the accounts maintained and being closed were too small or perhaps overutilized to be profitable so they are cleaning out the closes of cobwebs. Bankers are not very smart but now people such as Banamex and its U.S. parent are realizing that it is a burden on their profits to maintain numerous small, chickensh*t accounts that actually cost them money rather than return a reasonable profit margin so they decided to close those accounts in a rather rude and abrupt fashion but what the hell do they care who they offend when that offfended party is being told to take a hike forthwith and without hesitation. I don´t expect my plumber to lose money on my behalf when he /she crawls under my sink so why should I expect my banker to lose money cashing my checks?
Click to expand...

Indeed Hound Dog that was my first thought when I received the letter from Banamex USA--that their issue was that I left almost nothing in the account when I transfer to Mexico each month. That was the main reason I called this morning for clarification--thinking that maybe I was breaking some minimum balance rules which I could fix and avoid closure of the account. 

But after reading in this forum and other things outside it is clear that the problem goes far beyond that--as usual to the US government's desperation to get its hands on every last dollar it can. We can only hope that the burden imposed on banks around the world doesn't cause closure of Americans' accounts on a large scale.


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## citlali

Well I would not be so sure, If you read Rolly+s post and other on other forum their accounts were not closed so there was obviously a review and some accounts were deemed wothy and some not.

I think that people who have managed to open different accounts will find out that the same thing will happen to their new accounts if the bank does not make any money on it.


Notiing to do with expats everything to do with Profit.


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## lagoloo

Since we already have a Mexican bank account, we visited their office today and they gave us the forms and the information to set up a direct deposit of our SS checks. The deadline for changing banks and getting the July checks in the new bank is June 19th. You can send the forms to the right office to accomplish this by email or to the U.S. consul if he visits your area next month. For people in the Chapala area, the next visit is scheduled for the second Wed. of the month.
I doubt that the Mexican bank will go belly up in the time between when our modest SS checks are deposited there and the time we go through the funds......quickly, in our case.


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## Longford

MeroRandy said:


> But after reading in this forum and other things outside it is clear that the problem goes far beyond that--as usual to the US government's desperation to get its hands on every last dollar it can. We can only hope that the burden imposed on banks around the world doesn't cause closure of Americans' accounts on a large scale.


The bilateral agreement which is causing these concerns has been rolled-out amongst countries around the world for the past couple or several years. I think Switzerland may have been the first country, and there was a howl from the expat community there when that happened. 

The reason for these agreements requiring banks to report is said to be a huge number of taxpayers using foreign (to the USA) banks to hide/launder funds (and the bank complicity in concealing the information). I think I have that right. 

While I fully support the efforts of the USA to get the tax cheats to pay what they owe, one would think there are some softer ways to accomplish this. Apparently not. 

I linked a copy of the USA agreement with Mexico earlier today and I believe you'll find some exceptions which may encourage banks to allow some existing accounts to remain operational (particularly for retirees). Remember, Mexico will now begin to report details of your Mexican bank account deposits/withdrawals/balances if you're a USA citizen/legal resident. And USA banks will have to report the same for Mexican citizens who have accounts in the USA, if I'm reading the regulations accurately.


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## michmex

MeroRandy said:


> Indeed Hound Dog that was my first thought when I received the letter from Banamex USA--that their issue was that I left almost nothing in the account when I transfer to Mexico each month. That was the main reason I called this morning for clarification--thinking that maybe I was breaking some minimum balance rules which I could fix and avoid closure of the account.
> 
> But after reading in this forum and other things outside it is clear that the problem goes far beyond that--as usual to the US government's desperation to get its hands on every last dollar it can. We can only hope that the burden imposed on banks around the world doesn't cause closure of Americans' accounts on a large scale.


Here is a link to the "WSJ" article (no subscription required - Google News Link) that describes in more detail the issues regarding what sounds like complete lack of controls regarding Banamex USA's money transfers from the USA to Mexico.

Citigroup's Border Woes Go Deeper - WSJ.com

The Banamex-Mexico firings were the result of loss reserves being posted due to some dubious loans that were made to Oceanografía by Banamex.

Citi purges 11 staff linked to Banamex fraud probe - FT.com


J. P. Morgan, also concerned about possible wrong doings at Banamex USA is dumping them as a correspondent banking client.

J.P. Morgan Is Reviewing U.S. Correspondent-Bank Relationships - WSJ.com

Based upon all the problems at Banamex-USA and the closing of branches, how much longer before they are sold or just shut down?


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## DennyDaddy

Hea...great! Thanks for the pictures, I can use them.

dd


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## DennyDaddy

Longford...

Thanks for the pictures, I can use them.

dd


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## Hound Dog

_


makaloco said:



I don't have a Banamex account, but this may be be relevant:
Citigroup's Border Woes Go Deeper - WSJ.com

Click to expand...

_Thanks, makaloco but, unfortunately, that WSJ articale, which I attempted to read unsuccessfully, is a come- on from them in order to attract subscribers so it cannot be read in full unless one subscribes to their rag. One does not need to read the WSJ to discern what is happening at Citi and Banamex but thanks for the lead anyway. 

For years when I was a commercial banker in San Francisco, I had to pretend to find the WSJ informative so I pretended to read it once or twice a week and always had a copy of that paper on my desk to impress my ******* industrial clients who came to my office to solicit funds for alleviating recurring cash flow glitches. Neither I nor they ever seemed to be able to get beyond the front page "Grabem" boxes as the rest of that rag was exceedingly; even, perhaps, purposefully, boring beyond belief. Thank God the internet, with its myriad choices for information of all kinds, has freed us all from the necessity of poring through incredibly boring paper publications or their electronic throwoffs published mainly by cliques of self-satisfied goobers sitting around in Manhattan "smoke filled back rooms" informing us peasants out in the sticks what we should think - pimarily just how brilliant they are. 

Once again, thanks for the lead but the WSJ is not my cup of tea. The boy is retired.


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## lagoloo

We peasants are not going to know the reasons our accounts are being axed at BanamexUSA and it doesn't really matter.
What does matter it that we get any money that's in there, outta there, and get our SS checks going somewhere else.
We have until June 19 to get the forms to SS in order to change banks for auto deposit so our July checks will have a place to go.


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## MeroRandy

lagoloo said:


> BANAMEX USA is sending letters to its customers here that it is closing all our accounts as of June 30.
> 
> No more SS check deposits: no more linking of accounts to Banamex Mexico, no more credit card, no more ATM for free, no more nada.
> 
> I had my doubts when I read this on my local forum, so I called the 800 number and spoke with a representative. It's all true. "Bank decision" no reason given.
> 
> We are now scrambling to find a new U.S. bank which does not require we be there in the U.S. in person to open an account; have a U.S. drivers license or a U.s. address. We would like to have that FDIC insurance before handing over our money.
> 
> So: this is a heads up. Anyone have any ideas; they will be welcome. Please, check the information and let's not just speculate.
> 
> Holey moley!!!


I am totally with lagoloo here. To chicois8-->>there is no doubt about who is telling the truth here. This IS happening. I received a letter from Banamex USA. I called them and was also told it was a "bank decision." 

I have basically the same issues and questions as lagoloo. For the many who receive Social Security the solution is simple. They only require the 18-digit interbank routing number and they will send the direct deposit directly to an approved Mexican bank. 

For me the bigger problem is a private pension that comes from a life insurance company. They do not have the ability to deposit to foreign accounts. Clearly opening another account at a US bank is a possible solution, but as lagoloo says it's not easy to do without physically going to the USA to do it in person and having a valid address in the U. S. And even if we are able to open a new USA account--not just any ol' bank can make the link to a Mexican bank like we did with Banamex USA and Banamex. In the past I heard that similar relationships exist between BofA and Banco Santander and others. But who knows the current status of such relationships. 

I was hoping that someone in this forum had a creative solution--like maybe a way to use PayPal or something similar. Myself (can many others) need a way to avoid having a check sent to us in the mail. OMG--I get a headache just thinking about that scenario. :help:


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## citlali

We had a check disappear in the mail so you may ask them to send it registered or fed ex..


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## MeroRandy

citlali said:


> We had a check disappear in the mail so you may ask them to send it registered or fed ex..


Thank you citlali. Yes, I am waiting for a return call about doing that now--FedEx, UPS, and DHL all seem like possibilities. I don't care if I have to pay for the service. I really don't want the stress of worrying about IF and WHEN my check will arrive. I have been through the stop payment/re-issue check process before, and it's not fun.


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## chicois8

MetroRandy wrote" To chicois8-->>there is no doubt about who is telling the truth here. This IS happening. I received a letter from Banamex USA. I called them and was also told it was a "bank decision."

I was referring to the representatives the OP and I spoke to, one said her account was closed and mine said my account is open and will stay open...maybe both are telling the truth...

By the way I send a check with FedEx from San Francisco to Guadalajara once a year and it costs about $40 USD .........


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## RVGRINGO

I have always maintained only a US bank and have recommended that others do the same. Using an ATM card and, rarely a check, has worked just fine for all of our needs in Mexico for the last 13 years. We have even managed to buy two homes and one new car without too much difficulty.
For those who have been closed out, I suggest that you find a friendly US bank, even if you have to make a visit to the US to do it, and learn to live with a debit card and a credit card. It has worked well for us.


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## Zsape

RVGRINGO, do you use your Mexico address with your US bank? Is there any problems getting replacement cards?


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## RVGRINGO

We get our mail through Sol y Luna and have had the same Laredo mailing address for more than a decade. Our debit and credit cards come to us through that service; never a problem. 
I do understand that, under all the new proof of residence requirments for new accounts, some may have to actually go to the US for an extended visit, get a room or apartment and electrical or phone service, even a driver‘s license, in order to accomplish this. Once back in Mexico, one can change the address online and probably live happily ever after. In our RV days, we had similar difficulties and learned early on to use mail forwarding services. Heck, we still vote in Florida, but have never actually lived there and only had vehicles registered there for a few years. Those things are getting harder to do now. On our way to Mexico, we paused in Texas and changed our plates to Texas plates using a friend‘s MBE Laredo address temporarily. Now, MBE is gone and box sharing is also becoming a thing of the past due to the economic needs of the mail services here.


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## lagoloo

After doing a fair amount of research on opening a different bank account in the U.S., either brick and mortar or online banks, the catch seems to lie in having a U.S. verifiable address and/or a U.S. drivers license. If you happen to have a convenient, reliable relative who is willing to lie for you and forward your mail, that takes care of part of the problem. Some banks even demand a utility bill as proof of address. The drivers license can be the deal killer for many.

After conferring with the local rep from a Mexican bank, we received a form for changing SS auto deposits to a Mexican bank. 

US banks are making it increasingly difficult to open an account if you don't live there. So be it.

The costs involved in actually going to the U.S. to open an account and acquiring an"address" would be prohibitive, and no way worth the trouble, IMO but YMMV.


Now I'm hearing that Banamex USA is not the only bank closing foreigners' accounts. Might be a good idea for anyone with a "linked" account (or any other account) to call your friendly US bank and confirm that you are not on the list being tossed off the bus.


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## MeroRandy

lagoloo said:


> Now I'm hearing that Banamex USA is not the only bank closing foreigners' accounts. Might be a good idea for anyone with a "linked" account (or any other account) to call your friendly US bank and confirm that you are not on the list being tossed off the bus.


Exactly. What worries me more is that banks in Mexico and other countries will start weeding out Americans because of the FATCA thing--either closing existing accounts like Banamex USA has been doing, or at least refusing to open new accounts for Americans. I am reading that this is happening already in other countries.

Let's face it--complying with FATCA incurs an administrative cost for foreign banks. I have read nothing about the pompous US government paying to offset this expense--only about threats of a penalty for not complying. The US Congress does not think about how their rules may affect Americans living abroad. All they think about is being able to suck every last dollar into their tax coffers. And of course they never consider cutting back on spending over $1 trillion per year more than they take in.

I actually have another idea about what is behind this, but I will hold it back. I smelled a rat from the first moment I found out that the ability to make an online transfer from Banamex USA to Banamex had been suspended. I even expressed my suspicion to a phone representative one day--and that person confirmed that the US government was the reason for the suspension.


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## Longford

MeroRandy said:


> The US Congress does not think about how their rules may affect Americans living abroad. All they think about is being able to suck every last dollar into their tax coffers.


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## Hound Dog

The poor and middle class among us are paying the cost of the U.S. government´s implementation tax collection procedures avoided by rich tax dodgers and that´s the way it is and always will be. The filthy rich will still avoid taxes and the less fortunate will be penalized for nothing but, let´s face it, many expats living in Mexico have long been lying about their residency status and are only pissed because the governmental agencies to whom they have been lying, perhaps for decades in some cases, have finally awakaned to their bullsh*t. Realize the future just around the bend and become honest while you still can and stop bitching.


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## Isla Verde

MeroRandy said:


> For me the bigger problem is a private pension that comes from a life insurance company. They do not have the ability to deposit to foreign accounts. Clearly opening another account at a US bank is a possible solution, but as lagoloo says it's not easy to do without physically going to the USA to do it in person and having a valid address in the U. S. And even if we are able to open a new USA account--not just any ol' bank can make the link to a Mexican bank like we did with Banamex USA and Banamex. In the past I heard that similar relationships exist between BofA and Banco Santander and others. But who knows the current status of such relationships.


The relationship between Bank of America and Santander and Scotia Bank still exists, but now you are charged a fee when withdrawing money from your BofA account at Santander and Scotia Bank ATMs in Mexico. The fee is 3% of the amount you're withdrawing.


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## lagoloo

Hound dog touched a nerve there. I read posts from a surprising number of expats who think nothing of baldfaced lying about where they really live so they can accomplish things in which the truth would get in the way; all the way from banking to medical care to the license plates on their cars.

It seems unthinkable to them that they should have their SS check sent to a Mexican bank in their own town. Sure, some Mexican banks have been known to line their pockets with other people's money..........but we are seeing headlines of U.S. banks doing essentially the same thing on an even grander scale. 

It will be interesting to watch what happens in the future with the U.S. banking scene. I suspect that more expats will be thrown off the bus by even more banks.

In the end, Big Brothers electronic helpers will find their way into our most secret pockets. Ah well, there's always the Bank of Mattress. Air mattresses might work best for that.
What's your Sleep Number?


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## makaloco

lagoloo said:


> Hound dog touched a nerve there. I read posts from a surprising number of expats who think nothing of baldfaced lying about where they really live so they can accomplish things in which the truth would get in the way; all the way from banking to medical care to the license plates on their cars.


My personal favorite was the year when expats who were registered with Social Security using US addresses (real or fake) were sent stimulus checks, while those of us who used our Mexico addresses, i.e. where we really live, were not. A couple of these folks had the nerve to throw their windfalls in our faces on the forums.

I predict that you (and Hound Dog and MeroRandy) will be proved right about these convenient currency transfer arrangements. When the cost of regulatory oversight for thousands of puny little accounts and transactions exceeds what they take in, the banks will either raise rates to unacceptable levels, or ditch the services.


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## lagoloo

Googling around from morbid curiosity, we discovered a website where several companies will sell you a U.S. street address in such unlikely places as Charlotte, N.C. 
"Find a need and fill it" seems to apply here. I wonder how long that will last?

The biggest issue on the subject is that there are laws and penalties pertaining to the word "fraud", which should be considered. It's usually in the fine print .

Some years ago, a doctors' group practicing in Orange County, CA was trying to set up a system where expats could be treated in Mexico and their costs would be billed to Medicare as though they were treated in Orange Co., CA. You would not believe the number of eager folks willing to sign up for that until someone pulled the plug on it. Hope springs.

True, most such things will probably never be pursued, but you can get a really painful crick in your neck if you spend a lot of time looking over your shoulder.

Since our Mastercard account will die on the same day our BanamexUSA account expires, we are searching out alternatives for paying a few items that have been autopayed from that account at present. Our Mexican bank isn't offering credit cards as yet. They say Manana. Only Debit. Paypal is one possibility. Any pluses or minuses to report on experiences with that? The amounts involved would be very small: under $20 US. Input appreciated.


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## TundraGreen

lagoloo said:


> Googling around from morbid curiosity, we discovered a website where several companies will sell you a U.S. street address in such unlikely places as Charlotte, N.C.
> "Find a need and fill it" seems to apply here. I wonder how long that will last?
> 
> The biggest issue on the subject is that there are laws and penalties pertaining to the word "fraud", which should be considered. It's usually in the fine print .
> 
> Some years ago, a doctors' group practicing in Orange County, CA was trying to set up a system where expats could be treated in Mexico and their costs would be billed to Medicare as though they were treated in Orange Co., CA. You would not believe the number of eager folks willing to sign up for that until someone pulled the plug on it. Hope springs.
> 
> True, most such things will probably never be pursued, but you can get a really painful crick in your neck if you spend a lot of time looking over your shoulder.
> 
> Since our Mastercard account will die on the same day our BanamexUSA account expires, we are searching out alternatives for paying a few items that have been autopayed from that account at present. Our Mexican bank isn't offering credit cards as yet. They say Manana. Only Debit. Paypal is one possibility. Any pluses or minuses to report on experiences with that? The amounts involved would be very small: under $20 US. Input appreciated.


My Mexican bank debit card has a Master Card symbol on it, and works just like a credit card except that the money comes out of your account immediately, instead of a charge appearing on a statement at the end of the month. I also had a real credit card from them for a few months, but I got rid of it.


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## Isla Verde

TundraGreen said:


> My Mexican bank debit card has a Master Card symbol on it, and works just like a credit card except that the money comes out of your account immediately, instead of a charge appearing on a statement at the end of the month. I also had a real credit card from them for a few months, but I got rid of it.


I would be leery of having a credit card from a Mexican bank because interest rates can be really crazy here. I have a debit card from Santander which I use when I don't want to use cash, and it's worked out just fine.


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## citlali

lagoloo , be aware that Mexican credit card limit ise based on the balance you have in your account.
We figured that if we had the money in the bank available at any time we had a debit car to withdraw it so we did not need a credit card so we do not have one.
We buy our airplane tickets with our debit cards. 
We never had a problem i Mexico for not having a credit card. In the US I had a problem as I was taking a van to the airport from Santa Fe to ABQ , the company did not accept cash or debit card so we were not ble to take the van to the airport and we rented a car...

Good point laisla, if you get a credit card make sure you pay off the credit card every month on time, the rates are high.


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## MeroRandy

TundraGreen said:


> My Mexican bank debit card has a Master Card symbol on it, and works just like a credit card except that the money comes out of your account immediately, instead of a charge appearing on a statement at the end of the month. I also had a real credit card from them for a few months, but I got rid of it.


Like TundraGreen, my Banamex debit card has a MasterCard logo. I use it to pay for a few ongoing monthly charges. My Banamex USA ATM/debit card would never work for this because it lacked the 3-digit code on the back.


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## lagoloo

TundraGreen said:


> My Mexican bank debit card has a Master Card symbol on it, and works just like a credit card except that the money comes out of your account immediately, instead of a charge appearing on a statement at the end of the month. I also had a real credit card from them for a few months, but I got rid of it.


We have a couple of services which are paid for from the credit card account. Never use a debit card except to withdraw cash, so (maybe dumb question)
could we set up the debit card to pay those automatically, monthly? We also clear any balances on our credit card every month. Hate those interest rates.


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## Isla Verde

lagoloo said:


> We have a couple of services which are paid for from the credit card account. Never use a debit card except to withdraw cash, so (maybe dumb question)
> could we set up the debit card to pay those automatically, monthly? We also clear any balances on our credit card every month. Hate those interest rates.


I have an account with Santander in Mexico City and use it to automatically pay my Telmex and CFE bills. I set up the payments at the local branch by filling out a couple of forms. It's worked without a hitch for a couple of years .


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## TundraGreen

Isla Verde said:


> I would be leery of having a credit card from a Mexican bank because interest rates can be really crazy here. I have a debit card from Santander which I use when I don't want to use cash, and it's worked out just fine.


A couple of years ago, my Mexican bank talked me into getting a credit card. 

Everytime I went to the bank, they tried to talk me into signing up for one. In a weak moment, I agreed to one time. I never used it, but at the end of the first month, a $600 peso charge showed up on the statement. It wasn't a fraudulent charge, it was some kind of fee. I complained to the bank and they reversed the charge. I never used the card and after 3 months or 6 months, the account expired and I cut the card up.


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## MeroRandy

lagoloo said:


> We have a couple of services which are paid for from the credit card account. Never use a debit card except to withdraw cash, so (maybe dumb question)
> could we set up the debit card to pay those automatically, monthly? We also clear any balances on our credit card every month. Hate those interest rates.


Personally I see no reason why you couldn't pay with a debit card. I do it to pay recurring monthly charges. The key is that the debit card must have a VISA or MasterCard logo and the 3-digit code on the back.


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## TundraGreen

lagoloo said:


> We have a couple of services which are paid for from the credit card account. Never use a debit card except to withdraw cash, so (maybe dumb question)
> could we set up the debit card to pay those automatically, monthly? We also clear any balances on our credit card every month. Hate those interest rates.


I pay for Netflix automatically with a debit card. I also pay Megacable and CFE online but that is done manually from the bank web site. In the past I used to pay Megacable on the Megacable web site with debit card. They seem to work just like credit cards except for the way the bank treats them.


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## MeroRandy

I have to share some good news. I posted before that I had to find another way to deal with the closure of my Banamex USA account. I knew there would be no problem with Social Security, since I had been told before that I could arrange for direct deposit into my Mexican (Banamex) account.

My concern was with my pension from Minnesota Life/Securian. When I called yesterday, the rep confirmed what I suspected--that they were not set up to make direct deposits to foreign banks. So I have been fretting for over 24 hours over what alternate plan I could work out. I waited for a return call from that rep to tell me if they would be able to at least send my check via DHL or similar service so I would not have to risk the Mexican Postal Service.

To my surprise when she called back this afternoon, she told me that they CAN make direct deposits to foreign accounts--which is better news than I had expected. So I sent her the information she asked for. Now I wait to see whether a deposit appears in my Banamex account on July 1.


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## makaloco

Like Isla Verde, I set up my Telmex bill to be paid automatically by the bank. It didn't require a debit or credit card, just the account. I've been doing it that way for seven years with no problems.

I use my Bancomer Visa debit card for substantial purchases to avoid repeated trips to the ATM for cash. A couple of years ago I even used it to buy a new iMac. My card does have the three-digit code on the back, BTW. I've also used it to get cash from ATMs while visiting the US.


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## Hound Dog

For many years, foreigners lived here under temporary resident permits with foreign plated cars enjoying Mexican tax advantages and not paying their fair share of taxes to maintain common roads while paying peanuts (in comparison to the U,S,) for food and lodging and avoiding legal tax obligations when they could have stayed in Dubuque and accepted their fair share of their communal tax obligations but yet they pretended to stil be in Des Moines through phony residential addresses and lived off the land down here. Mexican and U.S. taxing authorities are beginning to catch on. Say goodbye to that tax free foreign plated car and other unfair advantages of goobers living here on a dime. The chickens are coming home to roost. Prepare to pay the piper or move back to Peoria.


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## TundraGreen

Hound Dog said:


> For many years, foreigners lived here under temporary resident permits with foreign plated cars enjoying Mexican tax advantages and not paying their fair share of taxes to maintain common roads while paying peanuts (in comparison to the U,S,) for food and lodging and avoiding legal tax obligations when they could have stayed in Dubuque and accepted their fair share of their communal tax obligations but yet they pretended to stil be in Des Moines through phony residential addresses and lived off the land down here. Mexican and U.S. taxing authorities are beginning to catch on. Say goodbye to that tax free foreign plated car and other unfair advantages of goobers living here on a dime. The chickens are coming home to roost. Prepare to pay the piper or move back to Peoria.


I am not sure I understand your point about "phony residential addresses".

I use my son's US address for lots of things, like US banks, Social Security and Medicare. But I have never pretended I live there. I don't collect Social Security yet and never have used Medicare. I file US tax returns, federal and in two states. I pay Predial (Mexican property tax). I tell all of them my actual residence address in Mexico. I don't have a foreign plated car, nor a Mexican plated car for that matter. I vote in Colorado, have California and Jalisco driver's licenses.

So what chickens are going to come home to roost? They will be pretty safe when they get here anyway, since I don't eat chicken or eggs.


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## DennyDaddy

DennyDaddy said:


> Twilglight zone???? I do not know how this can be the "twilght zone" when what the US Gov does with its IRS policies and fiscal policies tha affects us xpats and caues the value of our money to become almost worstless! That july 1 new law is for us expats and people from the US to be spied on....who bank out of the US,and make sure you pay US taxes...I'm ok with paying my US taxes. But what it does is piss off banks that have US account holders! This law does really not affect US bank account holders in US, business as usuall. so no need to be in the US forum. Look what the value of the US dallor is buying you today?.. I am not happy being on fixed limitted income and watching the value of the purchageing power of my green backs being loseing value because of our gov policies. Wait, the exchange of the dallor to the Mex dallor will fall. Yes, that will affect me here living in Mexico, also most expacts on limited income, and have you been to the states lately, prices are riseing because of that! Raiseing prices are really in affect because of the devale of our money! QE 1,2,3 has just put the date of doom off for a while. People, even xpats should should investergate, and figure out how, what to do! Inore the problem will not make it go away..... Collect your nuts now and put them in your nest or make sure your greenbacks are exchanged to something else. fYI



Quote from news letter......

" Dear Fellow Citizen,

Ron Paul told us we will soon experience a "Major Crash of the Dollar".

And Now: Title V of Obama's New Tax (FATCA) begins July 1. Many say the day will ignite "Dollar Loss Disaster".



But what if Dollar Crash has already begun? Consider ..."

A graph followed showibg the decline but I could not post. The graph showed the decline to 2013 and shows the down would sprial since major borrowing......FYI


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## citlali

Ron Paul is a doctor and a politician not an economist, not sure why you quoting him on the value of the dollar.
How about quoting an economist´s theory...and all of those are theory, no one knows what the future holds.l.


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## citlali

Tundragreen 
Many people are using mailing addresses wether it is relatives´s , ex residences, physical address of mail box companies, there are not longer acceptable to banks . Just try to open a bank accounts with these addresses today. 
The rule to open a US bank account is that you have to be a resident. If you are a permanent resident in Mexico you cannot be a resident in the US. 
The addresses may not be phonies but they are not enough to prove your residency statut any7 longer and people who have been kickout of Banamex USA or other banks are having difficulties opening other bank accounts.
Call the addresess what you want they are not sufficient any longer to open bank accounts as Homeland Security ruled that a while ago and the rule is being enforced for new accounts. Just a question of time until it catches up with existing accounts,
Some people are using ex residences addresses and have the new owners forward the mail..do you think that it is recognized as a legit address by the governemnt?.
By the way owning a property somewhere is not enough to prove residency. I own a house in France but I am not considered a resident there. You have to live there and banks are now asking utility bills in your name, driver´s license to prove you live there.


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## lagoloo

The times are definitely changing. When large banks are kicking out accounts with substantial sums in them, (and into which a monthly deposit of SS plops), giving customers short notice and no good reason, it's one sign. Trouble, of some kind.

Listening to politicians whose field of expertise is not in finance is like getting medical advice from your hairdresser. None of us know, and the "experts" disagree.
In my utterly non-expert opinion based on life experience, I say that it's a good time to get your financial ducks in a row and figure out how to live on less if you have to. We *will* have to if costs skyrocket and the money is worth less.

The poster who uses her son's address and feels the need to tell us about being blameless, seems to be so, at this point. The issue of chickens coming home would be when and if that address would be used to avoid paying something or to gain something by the use of it.

Hound Dog and others were talking about people who have been actively gaming the system already....for years.


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## DennyDaddy

citlali said:


> Ron Paul is a doctor and a politician not an economist, not sure why you quoting him on the value of the dollar. How about quoting an economist´s theory...and all of those are theory, no one knows what the future holds.l.


I'm done with this stuff....I quoted him cause he may run for president and he is not a stupit man, and he is not the only one saying this! There are many econmists also saying tthat! I will just sit and wait, and hope this does not happen...that's why!
There are options to do if this is going to happen tho! But before, and I thought great minds here would decuss something, I have not kept the articals on all the economists that I read about this. I guess if anyone is interested they can do the looking!

DD


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## Longford

DennyDaddy said:


> I'm done with this stuff....I quoted him cause he may run for president and he is not a stupit man, and he is not the only one saying this!
> 
> DD


:focus:


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## Zsape

lagoloo said:


> The times are definitely changing. When large banks are kicking out accounts with substantial sums in them, (and into which a monthly deposit of SS plops), giving customers short notice and no good reason, it's one sign. Trouble, of some kind.


Where are the stories that this is affecting accounts with "substantial sums" in them? HDs suggestion of pruning unprofitable accounts seems more on the mark. Has anyone with a "5 digit" account gotten a letter? Has anyone that qualified for a visa under the new rules been affected?


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## RTL44

Hound Dog said:


> There is much nonsense posted on this thread but this advice from joaquinx is solid and those of you having yet moved to Mexico or any other foreign country from the United States should follow his stated rule. Have your account(s) established in the U.S. before you leave there and establish residency in any other country worldwide and, eventually,in my personal opinión, you can also forget the use of phony U.S. addresses because Big Brother is watching and getting smarter by the day about these formerly seemingly innocent scams. They may, in fact, just be after the wealthy tax cheats but, in the process of tracking those people, everyone comes under increased scrutiny, even middle-class retirees living overseas who have committed no legal offenses.
> 
> As for the reason you cannot open a U.S. bank account with a foreign address - thank Bin Laden, the World Trade Center and resulting U.S. government paranoia leading to implementation of the Patriot Act and other mindless legislation. In this sense, in the long run, Bin Laden and his cronies were at least partially successful in damaging the core principles of the world´s premier capitalist state. Do not expect things to improve in our lifetimes.
> 
> Some advice based on our experience over the past 13 plus years:
> * While you´re still resident in the U.S., open an account with a bank/brokerage house with international experience as opposed to BillyBob Bank in Pocatello. You may find you need to seek advice and help from a bank with a significant international clientele after you move abroad and become an acknowledged international client forgetting that phony Laredo, Texas drop box supposed to disguise the fact that you no longer reside in the U.S.
> * As we can see preliminarily by the seeming problems regarding relationships promising international inter-bank services such as no-fee ATM transactions, shoot for a higher level and bear in mind that if you keep minimal balances in your bank accounts, some day your bank will catch on that your account is unprofitable and may unceremoniously close your account as well they should. The bank, after all, is a profit oriented organization, not an open community ditty bag offering free treats for passers-by.
> * Despite what some have inferred in posts on this thread preceding mine, anyone who predicts the demise of the dollar in value or as a world basic currency has no idea what they are talking about. This may or may not happen. No one knows but I can say this, the collapse of the dollar if that comes about, portends the collapse of international commerce and the values of many other currrencies so, I say, keep your residual wealth, whatever that may be, in dollars and limit your risks in Mexican or other financial institutions even if those institutions hilariously promise you your accounts are insured - a colossal joke outside of the FDIC so I hope you have a great sense of humor as they dish out the gruel down at the soup kitchen.
> 
> If possible, you need to own the unmortgaged roof over your head and have sufficient cans of beans to survive a while and, as Hank Williams, Jr. wrote a while back, _A Country Boy Can Survive._
> 
> Just my opinión offered lightly and nothing more.
> 
> 
> .


Well said!


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## lagoloo

Zsape said:


> Where are the stories that this is affecting accounts with "substantial sums" in them? HDs suggestion of pruning unprofitable accounts seems more on the mark. Has anyone with a "5 digit" account gotten a letter? Has anyone that qualified for a visa under the new rules been affected?


Yes, and yes. However, most people with Brain One are not going to specify details of their financial status on a public web board: thus, the vagueness.

Anyone making assumptions on this matter is playing blind mans bluff. Nobody knows what's really behind all this, and nobody at the bank is telling. I'm sure it will come out later. Maybe they are kicking expats out in alphabetic groups to avoid a massive disruption. This could be the A-F group. Who knows? I've never heard of a bank in the states doing this before, in this manner.

They have just mistreated a large number of people with their arbitrary decision and short notice, regardless of their reasons.

Personally, it's not a problem. I have already begun moving money to other institutions as of this week.
For some others, it may be more difficult to adjust things, such as private pension deposits.

On a practical level, retirees with SS have until June 19to move their direct deposits. Most Mexican banks are set up to accept them, have the forms on hand to give customers and will help them fill in the information.


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## Hound Dog

_in Colorado, have California and Jalisco driver's licenses.


TundraGreen said:



I am not sure I understand your point about "phony residential addresses".

I use my son's US address for lots of things, like US banks, Social Security and Medicare. But I have never pretended I live there. I don't collect Social Security yet and never have used Medicare. I file US tax returns, federal and in two states. I pay Predial (Mexican property tax). I tell all of them my actual residence address in Mexico. I don't have a foreign plated car, nor a Mexican plated car for that matter. I vote
So what chickens are going to come home to roost? They will be pretty safe when they get here anyway, since I don't eat chicken or eggs.

Click to expand...

_TG:
My comments were not aimed at you or anyone else in particular, I was referring to the countless U.S. and Canadian expats who have (in the past for many years ) taken the ride on temporary residency visas and driven foreign plated cars indefinitly without paying annual registration fees or well-deserved multas which would be assessed against Mexican citizens. As far as I am concerned, I find this sort of fraud to be despicable. Folks should come down here and enjoy the remarkable climate and reasonable cost of living and pay their fair share of community dues to keep the infrastructure running. These foreigners were low-life cheats in my opinión. 

As for chickens and eggs, I have what I consider to be an interesting observation. The other night my wife (Citlali) and I were eating at a West Ajijic restaurant, dining respectively, as I remember, on beefsteak (Hound Dog) and garlic shrimp(Citlali). Both meals involved the demise of other creatures residing on the planet including, by the way, our vegetable friends composing the accompanying salads slaughtered mercelessly with machetes as they slumbered in the fields, The restaurant, a long-time successful eatery in our Six Corners Barrio, had a brood of chickens running about the dining hall and we found this amusing after many years living in the U.S. where this would not be tolerated in a restaurant. As we sat there eating this somewhat unremarkable food, we had time to observe this family of chickens running around the restaurant dining room floor including a proud and beautiful fighting cock and his several baby hen children. Clearly, this cock and his baby hens were used to having been fed randomly from dining tables occupied by humans and the cock loudly demanded his territorial prerogative by crowing loundly at us near our table which signaled the brood to come forward onto the dinng room floor in expectation of having been fed from our table. Well, since the food was at best mediocre as is almost all restaurant food at Lake Chapala which has more bad restaurants than Fargo, N.D. truck stops , we decided to feed these chickens genorously of small pieces of shrimp and beef fom our pedestrian fare. The cock was strolling about as if he owned the hill but then the amazing thing - at least fo us city folks - happened. The cock ate nothing of the shrimp and beef morsels we threw on the floor but gave each and every morsel to his children assigning each the privilege of taking a morsel in turn. Of course¡! A father taking care of his children and not taking even one bite of those extraordinary goodies being thrown with abandon at his feet but offering it all to his kids. I was touched..


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## Isla Verde

Hound Dog said:


> As for chickens and eggs, I have what I consider to be an interesting observation. The other night my wife (Citlali) and I were eating at a West Ajijic restaurant, dining respectively, as I remember, on beefsteak (Hound Dog) and garlic shrimp(Citlali). Both meals involved the demise of other creatures residing on the planet including, by the way, our vegetable friends composing the accompanying salads slaughtered mercelessly with machetes as they slumbered in the fields, The restaurant, a long-time successful eatery in our Six Corners Barrio, had a brood of chickens running about the dining hall and we found this amusing after many years living in the U.S. where this would not be tolerated in a restaurant. As we sat there eating this somewhat unremarkable food, we had time to observe this family of chickens running around the restaurant dining room floor including a proud and beautiful fighting cock and his several baby hen children. Clearly, this cock and his baby hens were used to having been fed randomly from dining tables occupied by humans and the cock loudly demanded his territorial prerogative by crowing loundly at us near our table which signaled the brood to come forward onto the dinng room floor in expectation of having been fed from our table. Well, since the food was at best mediocre as is almost all restaurant food at Lake Chapala which has more bad restaurants than Fargo, N.D. truck stops , we decided to feed these chickens genorously of small pieces of shrimp and beef fom our pedestrian fare. The cock was strolling about as if he owned the hill but then the amazing thing - at least fo us city folks - happened. The cock ate nothing of the shrimp and beef morsels we threw on the floor but gave each and every morsel to his children assigning each the privilege of taking a morsel in turn. Of course¡! A father taking care of his children and not taking even one bite of those extraordinary goodies being thrown with abandon at his feet but offering it all to his kids. I was touched..


Me too!


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## RVGRINGO

I always suspected that he was touched.


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## chicois8

Hound Dog said:


> _in Colorado, have California and Jalisco driver's licenses.
> _
> 
> TG:
> My comments were not aimed at you or anyone else in particular, I was referring to the countless U.S. and Canadian expats who have (in the past for many years ) taken the ride on temporary residency visas and driven foreign plated cars indefinitly without paying annual registration fees or well-deserved multas which would be assessed against Mexican citizens. As far as I am concerned, I find this sort of fraud to be despicable. Folks should come down here and enjoy the remarkable climate and reasonable cost of living and pay their fair share of community dues to keep the infrastructure running. These foreigners were low-life cheats in my opinión.
> 
> As for chickens and eggs, I have what I consider to be an interesting observation. The other night my wife (Citlali) and I were eating at a West Ajijic restaurant, dining respectively, as I remember, on beefsteak (Hound Dog) and garlic shrimp(Citlali). Both meals involved the demise of other creatures residing on the planet including, by the way, our vegetable friends composing the accompanying salads slaughtered mercelessly with machetes as they slumbered in the fields, The restaurant, a long-time successful eatery in our Six Corners Barrio, had a brood of chickens running about the dining hall and we found this amusing after many years living in the U.S. where this would not be tolerated in a restaurant. As we sat there eating this somewhat unremarkable food, we had time to observe this family of chickens running around the restaurant dining room floor including a proud and beautiful fighting cock and his several baby hen children. Clearly, this cock and his baby hens were used to having been fed randomly from dining tables occupied by humans and the cock loudly demanded his territorial prerogative by crowing loundly at us near our table which signaled the brood to come forward onto the dinng room floor in expectation of having been fed from our table. Well, since the food was at best mediocre as is almost all restaurant food at Lake Chapala which has more bad restaurants than Fargo, N.D. truck stops , we decided to feed these chickens genorously of small pieces of shrimp and beef fom our pedestrian fare. The cock was strolling about as if he owned the hill but then the amazing thing - at least fo us city folks - happened. The cock ate nothing of the shrimp and beef morsels we threw on the floor but gave each and every morsel to his children assigning each the privilege of taking a morsel in turn. Of course¡! A father taking care of his children and not taking even one bite of those extraordinary goodies being thrown with abandon at his feet but offering it all to his kids. I was touched..


Curious, How did you know this was a fighting cock? 
And what does the have to do with Banamex? 
Lets get back on topic.........


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## chicois8

RVGRINGO said:


> I always suspected that he was touched.


Your not the only one!!!!!!!


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## lagoloo

Just for the record, it seems that those forms for transferring your SS auto deposit are not necessarily available at the Mexican banks right now. They were when I went in.
If they're smart, they will hustle up more of them. New business awaits.


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## Isla Verde

lagoloo said:


> Just for the record, it seems that those forms for transferring your SS auto deposit are not necessarily available at the Mexican banks right now. They were when I went in.
> If they're smart, they will hustle up more of them. New business awaits.


I didn't need a form from my Mexican bank - I did it on line at the SSA website.


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## Hound Dog

I have enjoyed this thread and think it is useful and informative but let me just express one thing regarding bankers of which I was one with some rank for many years:

We bankers were and are a cowardly group and have never hesitated to take advantage of regulatory cofusion as is happenig now to dislodge ourselves from unprofitable marginal accounts. I promise you that the sudden and seemingly random decisión to rid themselves (CITIBANK/Banamaex) was akin to riding the seesaw up when a fat friend descended from one end and it was time to sluff off all thie marginal business brought about by inpt maketing practices in the past.

Banamex and Citi were losing their asses on these idiotic expat accounts with chickens*t balances retained by expats with virtually no money in them so exáts could get the free services they did not deserve. It´s about time they woke up and realized they were losing money dealing with these flakes. . Why do you think that BBVA Bancomer cancelled its Preferred Customer Unit Program after a couple of years in their disastrous marketing program attempting to attract expats who, as it turned out, were mostly retirees who couldn´t afford nearby Guadalajara as a place to reside. People are retiring down here on chump change and, I can promise you as an ex-banker of many years, these people are as desirable as customers as are bed bugs in a two bit hotel. in Tehuantepec Get over it and start paying for bankng services if you can find a bank dumb enough to open your account if you are one of those cheap shot folks complainng here.


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## chicois8

YO DAWG, How did you know it was a fighting cock?


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## RVGRINGO

OK, HD, we are glad you got your citizenship, but it is no excuse to lord it over us peasants, as you describe us from time to time. 
You might want to edit all the typos in that post....if you can. I know, the sun is over the yardarm.


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## lagoloo

"Banamex ans Citi were losing their asses on these idiotic expat accounts with chickens*t balances retained by expats with virtually no money in them so exáts could get the free services they did not deserve. " (Hound Dog)


The trouble with your post, HD, is that you're including everybody in your insulting post. Since I know enough people who maintain five figure and larger balances in those accounts..........you're just showing your ignorance.

Not many expats who live in Mexico are living in rented hovels, dining on cheap tacos and trying to get bank accounts for nothing, and I'll bet you know it, too. 

IMO, this thread is turning into a swamp of negativity rather than being helpful to those being badly treated on short notice by a thieving bunch of rascals in a U.S. bank.

The sun is heading over the yardarm, but for most people, it's not quite there yet.


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## Hound Dog

[_QUOTE=chicois8;4126066]Curious, How did you know this was a fighting cock? 
And what does the have to do with Banamex? 
Lets get back on topic.........[/QUOTE]_

The owner of the restaurant who we have know for 13 years here in the Six Corners Barrio of West Ajijic assured us he was a fighing cock but he also assured me his beef was from Sonora which I, quite frankly, seriously doubt but tell me this, Chicois; why did you, after having tried the Chapala Highlands, move down to the Jalisco Coast where the average IQ is about 70 among college grads and if one has read a newspaper in the last three months one is considered an intellectual and worthy candiidate for the Jocotepec School of Mechanical Engineering with a scholarship soon to arrive in the mail if that ever happens,


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## RVGRINGO

And so goes the blessing of Padre Kino, feces aves y flaves tores. 
What was the topic?


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## Hound Dog

[_QUOTE=lagoloo;4126562]"Banamex ans Citi were losing their asses on these idiotic expat accounts with chickens*t balances retained by expats with virtually no money in them so exáts could get the free services they did not deserve. " (Hound Dog)


The trouble with your post, HD, is that you're including everybody in your insulting post. Since I know enough people who maintain five figure and larger balances in those accounts..........you're just showing your ignorance.

Not many expats who live in Mexico are living in rented hovels, dining on cheap tacos and trying to get bank accounts for nothing, and I'll bet you know it, too. 

IMO, this thread is turning into a swamp of negativity rather than being helpful to those being badly treated on short notice by a thieving bunch of rascals in a U.S. bank.

The sun is heading over the yardarm, but for most people, it's not quite there yet.[/QUOTE]_

lagaloo:

I´m sorry that my response to other remarks here was inarticulate.

Frankly., I don´t believe for one minute that Banks are shutting down profitable accounts, That is accounts with significant avaerage balances and reasonably utilized because such a move would make no sense. Banks are profit oriented institutions and I have no doubt, are shutting down small accounts the maintenance of which they find unprofitable. 

What, by the way, do you mean by your comment that the sun is heading over the yardarm but or most people it´s not quite there yet. I find that notion somewhat disconcerting.


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## lagoloo

Hound Dog said:


> [_QUOTE=lagoloo;4126562]"Banamex ans Citi were losing their asses on these idiotic expat accounts with chickens*t balances retained by expats with virtually no money in them so exáts could get the free services they did not deserve. " (Hound Dog)
> 
> 
> The trouble with your post, HD, is that you're including everybody in your insulting post. Since I know enough people who maintain five figure and larger balances in those accounts..........you're just showing your ignorance.
> 
> Not many expats who live in Mexico are living in rented hovels, dining on cheap tacos and trying to get bank accounts for nothing, and I'll bet you know it, too.
> 
> IMO, this thread is turning into a swamp of negativity rather than being helpful to those being badly treated on short notice by a thieving bunch of rascals in a U.S. bank.
> 
> The sun is heading over the yardarm, but for most people, it's not quite there yet._




lagaloo:

I´m sorry that my response to other remarks here was inarticulate.

Frankly., I don´t believe for one minute that Banks are shutting down profitable accounts, That is accounts with significant avaerage balances and reasonably utilized because such a move would make no sense. Banks are profit oriented institutions and I have no doubt, are shutting down small accounts the maintenance of which they find unprofitable. 

What, by the way, do you mean by your comment that the sun is heading over the yardarm but or most people it´s not quite there yet. I find that notion somewhat disconcerting.[/QUOTE]
_________________________________________________________________________

Yardarm comment refers to an old sailors' custom of not starting in on their rum ration until that point.
Y'all never heard that one?

I'm not going to post my balance sheet here, HD, just rest assured that I and several other dumpees from BanamexUSA are not unprofitable accounts. The real reason? Who knows? Maybe the Shadow do.

In any case, a bank that behaves in that highhanded a way can't be trusted, and I'm moving elsewhere on general principles immediately. So are some others, dumpees and not.


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## Hound Dog

[
Yardarm comment refers to an old sailors' custom of not starting in on their rum _ration until that point.
Y'all never heard that one?

I'm not going to post my balance sheet here, HD, just rest assured that I and several other dumpees from BanamexUSA are not unprofitable accounts. The real reason? Who knows? Maybe the Shadow do.

In any case, a bank that behaves in that highhanded a way can't be trusted, and I'm moving elsewhere on general principles immediately. So are some others, dumpees and not.[/QUOTE]_

I am embarrassed as an ex-Marine and lover of rum that I have proven naive on this saying. 

Banks are not concerned with your wealth, only that liquid portion of it that you leave in an account in that´particular bank whiich they can use to invest while you are sitting on your lazy ass ignoring the value of money in its value as a tool to make money on top of money by being investied on your behalf as opposed to the bank´s behalf. You can be worth millions of dollars and be a brilliant business person but whther you decide to leave excessive money in a bank to receive free checks or invest those funds sitting around and pay for those checks is an intellectual decisión requiring some serious thought. This is too complicated a decisión to discuss here and, anyway, if you have some money lying around, you already know the answer.


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## chicois8

Hound Dog said:


> [_QUOTE=chicois8;4126066]Curious, How did you know this was a fighting cock?
> And what does the have to do with Banamex?
> Lets get back on topic........._


_




The owner of the restaurant who we have know for 13 years here in the Six Corners Barrio of West Ajijic assured us he was a fighing cock but he also assured me his beef was from Sonora which I, quite frankly, seriously doubt but tell me this, Chicois; why did you, after having tried the Chapala Highlands, move down to the Jalisco Coast where the average IQ is about 70 among college grads and if one has read a newspaper in the last three months one is considered an intellectual and worthy candiidate for the Jocotepec School of Mechanical Engineering with a scholarship soon to arrive in the mail if that ever happens,

Click to expand...


I have never tried the Chapala Highlands where ever that is and I never moved to anywhere on the Jalisco Coast, what are you babbling about?_


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## lagoloo

Hound Dog said:


> [
> Yardarm comment refers to an old sailors' custom of not starting in on their rum _ration until that point.
> Y'all never heard that one?
> 
> I'm not going to post my balance sheet here, HD, just rest assured that I and several other dumpees from BanamexUSA are not unprofitable accounts. The real reason? Who knows? Maybe the Shadow do.
> 
> In any case, a bank that behaves in that highhanded a way can't be trusted, and I'm moving elsewhere on general principles immediately. So are some others, dumpees and not._






> I am embarrassed as an ex-Marine and lover of rum that I have proven naive on this saying.
> 
> Banks are not concerned with your wealth, only that liquid portion of it that you leave in an account in that´particular bank whiich they can use to invest while you are sitting on your lazy ass ignoring the value of money in its value as a tool to make money on top of money by being investied on your behalf as opposed to the bank´s behalf. You can be worth millions of dollars and be a brilliant business person but whther you decide to leave excessive money in a bank to receive free checks or invest those funds sitting around and pay for those checks is an intellectual decisión requiring some serious thought. This is too complicated a decisión to discuss here and, anyway, if you have some money lying around, you already know the answer.


__________________________________________
Who needs free? Nothin' is free. Yes, it's far to complicated a subject to discuss on here. 
In today's banking world, the question of where to put what is indeed, a puzzlement.
I used to think that eventually, the debt would force the money market rates upward to a point where they were better than the Bank of Mattress. I'm still wondering how long this charade can last.

One somewhat paranoid friend is of the opinion that this stuff is intended to force expats to bring their bodies and their money back to the U.S. Can't buy that one. The less well off here can't even begin to have a life at the same level in the U.S. unless they're into swamps, alligators and high rise cells in Florida with endless access to cheap buffets and bingo.

Another is predicting a complete collapse of Western society within the next few years. So, I suppose "a country boy can survive" and he's hoarding stuff for the financial Armageddon.

All I know for sure is that if I had a crystal ball some time ago, I'd be living the life of Bill Gates.


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## TundraGreen

Hound Dog,

If the US changes its reporting requirements for foreign banks with US customers, those banks may decide it is no longer worth the trouble to service those accounts even if the customers have significant balances. My impression is that this is happening but I have not looked at the changes in the reporting requirements that will apparently go into effect next month.


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## DennyDaddy

Longford said:


> :focus:


I been and done with FOCUS .........i been focusibg to much on this forum!

Say there are 100 people on this forum.......just say!



40 will agree with ya....

40 will not agree ya...

15 may get pissed off at ya....

5 will not give a dam!

So Thats how I'm focused.....its been fun

And thats just how these things work on a forum and any where a bunch of people get and talk things over!

Have a good day, week or what ever.....dam...went to exchange dallors today and there down! So maybe tomorrow it will be up, or not!

Will wait another day to buy my Mexican plated new car! Did not cash my check,


dd
.


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## Hound Dog

[_QUOTE=TundraGreen;4127010]Hound Dog,

If the US changes its reporting requirements for foreign banks with US customers, those banks may decide it is no longer worth the trouble to service those accounts even if the customers have significant balances. My impression is that this is happening but I have not looked at the changes in the reporting requirements that will apparently go into effect next month.[/QUOTE]_

We´ll see, TG. After 40 years monitoring accounts at commercial Banks rom Mobile to San Francisco and determining which account holders were profitable to the bank and which were not profitable, I can tell you absolutely that the accounts being closed are almost all those cheesy penny-ante accounts seeking free services with not enough collected balances in them to buy a pocketfull of bubble gum at one of those machines that used to line Commerce Street in Greenville, Alabama in 1953 aimed at kids with 10 Cents in their pockets.

Perhaps someone with large collected balances in banks in the U.S. can enlighten us on how they have been summariliy dismissed as a customer of that bank as rudely as some complaining on these fórums. 

I bank in the U.S. and Mexico and none of those banks are giving me any problems whatsoever.


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## DennyDaddy

I been useing Bancomeer for years here in Mexico for savings and a debit card. They also very easy gave me a Visa credit card. I keek a few thousand pescos above the amount they gave me for credit. I never go below that amount. I use it where I feel I would not want to use my debit carrd for security reasons. 
A while back I started an account also with Banorte Bank for savings to keep a savings in for it pays 3.9 % interest, as most state banks are low, like . 05%

Funny thing, now they say, they don't give credit cards to gringoes! nada! I wonder what that move was all about??? 
Wonder what made Banknorte stop that for?....

DD

I'm trying to focus but its hard for a married man......ha ha ha ha!


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## DennyDaddy

Hound Dog said:


> TundraGreen said:
> 
> 
> 
> Hound Dog, If the US changes its reporting requirements for foreign banks with US customers, those banks may decide it is no longer worth the trouble to service those accounts even if the customers have significant balances. My impression is that this is happening but I have not looked at the changes in the reporting requirements that will apparently go into effect next month.
> 
> 
> 
> We´ll see, TG. After 40 years monitoring accounts at commercial Banks rom Mobile to San Francisco and determining which account holders were profitable to the bank and which were not profitable, I can tell you absolutely that the accounts being closed are almost all those cheesy penny-ante accounts seeking free services with not enough collected balances in them to buy a pocketfull of bubble gum at one of those machines that used to line Commerce Street in Greenville, Alabama in 1953 aimed at kids with 10 Cents in their pockets. Perhaps someone with large collected balances in banks in the U.S. can enlighten us on how they have been summariliy dismissed as a customer of that bank as rudely as some complaining on these fórums. I bank in the U.S. and Mexico and none of those banks are giving me any problems whatsoever.
Click to expand...

.............................................

Not to bust anybody's bduble, banks and monster banks are really greedy *******ards, and if they don't make money on your account, just maybe in this day and age they will drop you....i agree with Hound Dog! 

If people would only understand the big banking system, and the federal reserve, and world banks, they will realise they have us as slaves....we borrow printed notes, not backed by anything, a peice of paper, and we sign loans and borrow an that, and pay interest, we all are slaves! They just write a note, they don't really give us anything but a note, n o skin off their back! We take that note they printed, loaned to the tresery, in a around about way, we work like slaves for the notes, borrow for those notes, and either us by borrowing, or the gov, paying the big bankers money that never was money, just paper! 

So, billions, trillons are given to the banks both in dallars plus interest just on a paper note the tresuary barrows. For example, I take a peace of paper, I say I have no money, So I give you this note say for one dallor! You take that note to a bank, they give you a dallor, plus you pay it back at say 5% interest. You pay the dallor back at 5% interest....then I get the 1 dallor back and 
5% interest! So nowI have your hard earned money, plus interest! And I just gave you a useless note on a paper!

Now, that is just simple, more complacated and the bankers here will get in an up roar....maybe. But the big world bankers and the Federal Reserve basicly work that way. Thay want your money! And keep in mind, the "Federal Reserve Bank" is not a US gov owned bank! There is an interesting story how we were scamed by certain congressmen into alowing the Federal Reserve to come to be! In fact, in truth, it is said Pres Kennidy signed an exec order a few days before going to Dallas. When Johnson became pres., he quickly overturned that otder.....ha, I wonder why.......

This is an FYI and maybe I was not in a focus mode....but interested parties can look it up! But to get back to Hound Dog, the banks are big greedy machines and do want to control the word! Serfdom here we come! Ha! FYI


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## joaquinx

TundraGreen said:


> If the US changes its reporting requirements for foreign banks with US customers, those banks may decide it is no longer worth the trouble to service those accounts even if the customers have significant balances. My impression is that this is happening but I have not looked at the changes in the reporting requirements that will apparently go into effect next month.


It seems that HSBC, not only in Mexico, but world wide, is compliant with the new reporting law. Foreign Account Tax Compliance Act (FATCA) | HSBC


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## Hound Dog

As to DennyDaddy´s remarks above, I must say that my comments elsewhere on this thread had to do with the fact that banks and thickheaded bankers finally discerned that they were not making money on piddly accounts and started closing them - correctly if somewhat clumsily in Banamex´ s case. Banks make money on the float in non-interest bearing or low-interest bearing accounts and the spread between what they pay and what they earn on those funds and the geniuses running those organizations finally figured out how to calculate what was and what was not a profitable acount and decided to get rid of the unprofitable accounts by closing them unilaterally. I do not in any way agree with his screed about paper money or the Federal Reserve. This is old hat right wing nonsense in my opinión. Perhaps we should get rid of paper currency and establish the old barter system. Then Billy Bob who raises pigs and I who raise corn can Exchange the pigs and corn down at the community market and so forth and so on.


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## lagoloo

I think we've all heard the one that goes: "Don't confuse me with facts; my mind is made up".
This certainly applies on this thread.


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## chicois8

Time to put this post out to pasture .............


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## TundraGreen

chicois8 said:


> Time to put this post out to pasture .............


I agree.


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