# Routing code



## Rammstein (Jun 18, 2016)

I recently opened an account at Banamex and was trying to make a payment online to pay an account in the USA and they want a routing code. I know where to find it for a USA account but no one in the two branches of Banamex I checked with have any idea what it is. Any suggestions would be greatly appreciated.


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## dwwhiteside (Apr 17, 2013)

All U.S. banks have a routing number; a nine-digit number that uniquely identifies the bank. You can generally find this number as the first series of nine-digit numbers on the bottom left-hand side of a paper check. This routing number in combination with your specific account number at that bank is used to uniquely identify your account throughout the U.S. banking system.

However, banks in Mexico do not use the same numbering convention. Instead, your individual account in a Mexican bank with have a CLABE. The clabe is an 18 digit number that specifies the bank, the specific branch within that bank and your specific account number. 

In essence, the clabe at a Mexican bank serves the same purpose as the combination of routing number and account number at a U.S. bank. I don't know if this will help your specific situation but hopefully it will at least provide a bit more insight.


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## Rammstein (Jun 18, 2016)

dwwhiteside said:


> All U.S. banks have a routing number; a nine-digit number that uniquely identifies the bank. You can generally find this number as the first series of nine-digit numbers on the bottom left-hand side of a paper check. This routing number in combination with your specific account number at that bank is used to uniquely identify your account throughout the U.S. banking system.
> 
> However, banks in Mexico do not use the same numbering convention. Instead, your individual account in a Mexican bank with have a CLABE. The clabe is an 18 digit number that specifies the bank, the specific branch within that bank and your specific account number.
> 
> In essence, the clabe at a Mexican bank serves the same purpose as the combination of routing number and account number at a U.S. bank. I don't know if this will help your specific situation but hopefully it will at least provide a bit more insight.


Thanks for the reply but I have the Clabe and it does not work for what I need. I'll keep investigating.


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## TundraGreen (Jul 15, 2010)

Rammstein said:


> Thanks for the reply but I have the Clabe and it does not work for what I need. I'll keep investigating.


Mexican banks also have a SWIFT Bank Code that is necessary for international transfers if memory serves me correctly.

For Banamex the SWIFT Code might be: BNMXMXMM. That is what it was years ago.


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## Gatos (Aug 16, 2016)

I have only ever moved monies South. And those monies were already pesos. Perhaps part of your problem is the conversion ?

Here is the information if I wanted to send money 'TO' fidelity in the US.
https://www.fidelity.com/cash-management/information-needed-wire-to-fidelity-account

I think it assumes USD - but I have never tried it...


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## joaquinx (Jul 3, 2010)

Would checking with the payee and letting them know you wish to transfer from a Mexican bank and you have the Swift code and the clabe that would be needed?


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## maesonna (Jun 10, 2008)

I’ve received transfers from U.S. to a Bancomer account with the Swift code and CLABE. They also wanted the name and address of the branch, for what it’s worth.


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## joaquinx (Jul 3, 2010)

The op wants to go to the USA from Mexico.


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## Gatos (Aug 16, 2016)

Perhaps - depending on the situation - I might consider paying the US bill via paypal. But we have accounts in both the US and Mexico which obviates these situations.


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## Rammstein (Jun 18, 2016)

joaquinx said:


> Would checking with the payee and letting them know you wish to transfer from a Mexican bank and you have the Swift code and the clabe that would be needed?


Thanks for the reply. I am in the process of doing that right now.


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## Gatos (Aug 16, 2016)

I have no experience - but I suspect that using Banamex (using pesos) to pay a US bill (in dollars) is going to be a good deal for Banamex. We have a few small recurring US transactions each month (eg Amazon Unlimited) and we have them automatically debited with a US dollar credit card or debit card (no fees). At the moment it probably makes more sense to hold onto whatever pesos you have - and spend dollars where possible - until the exchange rate flips back to a more normal level. One thing we do have experience with - if you pay anything (say even a CFE bill) via a Mexican bank - don't wait until the last day the bill is due. It can take 3 or 4 days for the transfer to actually complete. CFE turned off our power once even though we had paid the bill at HSBC. Since then we pay at the drive-up kiosk at CFE (in pesos).


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## Rammstein (Jun 18, 2016)

Gatos said:


> I have no experience - but I suspect that using Banamex (using pesos) to pay a US bill (in dollars) is going to be a good deal for Banamex. We have a few small recurring US transactions each month (eg Amazon Unlimited) and we have them automatically debited with a US dollar credit card or debit card (no fees). At the moment it probably makes more sense to hold onto whatever pesos you have - and spend dollars where possible - until the exchange rate flips back to a more normal level. One thing we do have experience with - if you pay anything (say even a CFE bill) via a Mexican bank - don't wait until the last day the bill is due. It can take 3 or 4 days for the transfer to actually complete. CFE turned off our power once even though we had paid the bill at HSBC. Since then we pay at the drive-up kiosk at CFE (in pesos).


I'm still a novice when it comes to using a Mexican bank so your advice is welcome. I have lived here for almost 20 years with minimal problems but my US bank has decided to close my accounts and I have to redo a few financial relationships. What a pain. Thanks for responding.


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## Gatos (Aug 16, 2016)

Rammstein said:


> I'm still a novice when it comes to using a Mexican bank so your advice is welcome. I have lived here for almost 20 years with minimal problems but my US bank has decided to close my accounts and I have to redo a few financial relationships. What a pain. Thanks for responding.


If $25K USD balance (across accounts) is doable - have a look at Schwab One International. They want your business - even with solely Mexican residency...

http://international.schwab.com/public/international/nn/open_an_account

Great exchange rates. No fee ATM withdrawals. Free wire transfers.


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## cscscs007 (Jan 8, 2011)

Are you sending the funds like Western Union? If so, they are asking for the Home City (aka the name identifier for the business). For example US Bank Home Mortgage has its own specific name you must use to pay a mortgage payment using Western Union, as would Wells Fargo, or Ford financial or GMAC for auto payments. 

Just throwing it out there. I don't really keep up on this too much as I use Xoom for making my payments. It's much easier and it remembers prior transactions and accounts, looks up the current billing and tells me the amount automatically. Much easier to pay these pesky bills.


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## Isla Verde (Oct 19, 2011)

Gatos said:


> . . . One thing we do have experience with - if you pay anything (say even a CFE bill) via a Mexican bank - don't wait until the last day the bill is due. It can take 3 or 4 days for the transfer to actually complete. CFE turned off our power once even though we had paid the bill at HSBC. Since then we pay at the drive-up kiosk at CFE (in pesos).


I pay my CFE and Telmex bills automatically through a service that my bank (Santander) offers called "domiciliación". The bills has always gotten paid before the due date, often several days before. And there is no charge for this service.


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## TundraGreen (Jul 15, 2010)

Rammstein said:


> I'm still a novice when it comes to using a Mexican bank so your advice is welcome. I have lived here for almost 20 years with minimal problems but my US bank has decided to close my accounts and I have to redo a few financial relationships. What a pain. Thanks for responding.


I have tried various options for what address to use with my US bank(s). In the end, I just use a US address and tell them I am on a trip in Mexico (all the time). It seems easier. Lots of times their web pages or forms can't handle or don't allow foreign addresses. They assume everyone lives in the US, so I just humor them and let them think it.


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## TundraGreen (Jul 15, 2010)

Isla Verde said:


> I pay my CFE and Telmex bills automatically through a service that my bank (Santander) offers called "domiciliación". The bills has always gotten paid before the due date, often several days before. And there is no charge for this service.


Ditto. I pay CFE and Megacable either through a Mexican bank web site or through the company web site. Both work usually. Sometimes either the bank or the company will be offline, so it is convenient to have two options.


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## Isla Verde (Oct 19, 2011)

TundraGreen said:


> I have tried various options for what address to use with my US bank(s). In the end, I just use a US address and tell them I am on a trip in Mexico (all the time). It seems easier. Lots of times their web pages or forms can't handle or don't allow foreign addresses. They assume everyone lives in the US, so I just humor them and let them think it.


That's what I do with my Bank of America account.


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## Gatos (Aug 16, 2016)

Isla Verde said:


> I pay my CFE and Telmex bills automatically through a service that my bank (Santander) offers called "domiciliación". The bills has always gotten paid before the due date, often several days before. And there is no charge for this service.


I'd like to say that it is branch specific - but perhaps it is karma - Santander was the worst banking experience I have had in my life - and we had a 'Select' account. We could easily spend a morning at the branch to accomplish the simplest things. They had this nasty habit of offering 'free' checking - but they charged you every month on the 1st and reimbursed that charge on the last day of the month. Drove me crazy. Don't recall the exact reason but shortly (perhaps a week) after we opened the account we needed to make some sort of change to the account. We sat across the same desk from the same guy we had sat in front of a week before and he said my signature didn't match what they had on file. 

HSBC online 'billpay' works fine for me. I don't let them automate it - I pay our Mexican bills (excluding CFE) on the 15th of the month (Sky, Telmex, IUsacell). I use HSBC for SPEI transfers without problem as well.


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## Gatos (Aug 16, 2016)

Isla Verde said:


> That's what I do with my Bank of America account.


 We have had an account at BofA for many many years. The only address they have for us is our Mexican address. That includes the Visa credit card. Knock on wood - that doesn't change in the near future.


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## Gatos (Aug 16, 2016)

TundraGreen said:


> I have tried various options for what address to use with my US bank(s). In the end, I just use a US address and tell them I am on a trip in Mexico (all the time). It seems easier. Lots of times their web pages or forms can't handle or don't allow foreign addresses. They assume everyone lives in the US, so I just humor them and let them think it.


I detest having to lie to a bank simply to have an account with them...

edit : but if it works for you.


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## Rammstein (Jun 18, 2016)

TundraGreen said:


> I have tried various options for what address to use with my US bank(s). In the end, I just use a US address and tell them I am on a trip in Mexico (all the time). It seems easier. Lots of times their web pages or forms can't handle or don't allow foreign addresses. They assume everyone lives in the US, so I just humor them and let them think it.


Guess I should not have been so truthful.


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## Rammstein (Jun 18, 2016)

Isla Verde said:


> I pay my CFE and Telmex bills automatically through a service that my bank (Santander) offers called "domiciliación". The bills has always gotten paid before the due date, often several days before. And there is no charge for this service.


Maybe I'm a bit old fashioned because I pay nearly all my utilities and services in person.


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## TundraGreen (Jul 15, 2010)

Gatos said:


> I detest having to lie to a bank simply to have an account with them...
> 
> edit : but if it works for you.


I am not above lying if there is a good reason to do so, but this doesn't feel like lying to me. It is my son's address. I get mail there. It is none of their business the exact nature of the address as far as I am concerned.


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## joaquinx (Jul 3, 2010)

Gatos said:


> We have had an account at BofA for many many years. The only address they have for us is our Mexican address. That includes the Visa credit card. Knock on wood - that doesn't change in the near future.


Same here and no problems of late. I applied for a credit card over the telephone and told that I live in Mexico. No big deal. I believe that if you have a large enough account, all is fine. Just don't cheat.


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## Gatos (Aug 16, 2016)

joaquinx said:


> Same here and no problems of late. I applied for a credit card over the telephone and told that I live in Mexico. No big deal. I believe that if you have a large enough account, all is fine. Just don't cheat.


Yes - BofA has even over-nighted replacement cards to us in Mexico (for free) . Their 'blue' Visa rewards card is actually a pretty good free card to have in your wallet (no fees/decent exchange rate).

We don't have any kids in the US but we have friends. One in particular helped us out by letting us forward our mail to her address which she periodically sent South. That stream has turned into a dribble - mostly junk. At this point I think we have switched over most anything over to Mexico.

We LOVE our relationship with HSBC Mexico. We can call our rep and ask her to do something for us - she takes care of it promptly and we visit the bank a few days later to sign the paperwork.


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## TundraGreen (Jul 15, 2010)

Rammstein said:


> Maybe I'm a bit old fashioned because I pay nearly all my utilities and services in person.


I paid my cable bill once in person with a debit card. Shortly after, a bunch of charges that weren't mine showed up on my bank statement. Now I never use a debit card to pay a bill in person. I either pay online or pay in person in cash. I never hand my card to anyone.


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## Rammstein (Jun 18, 2016)

Gatos said:


> If $25K USD balance (across accounts) is doable - have a look at Schwab One International. They want your business - even with solely Mexican residency...
> 
> http://international.schwab.com/public/international/nn/open_an_account
> 
> Great exchange rates. No fee ATM withdrawals. Free wire transfers.


I'm working on the Schwab application and trying to get all the required attachments together. Any tips?


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## Gatos (Aug 16, 2016)

Rammstein said:


> I'm working on the Schwab application and trying to get all the required attachments together. Any tips?


We actually met with the Schwab rep (out of Miami) in a hotel lobby in Mexico City. Later we met with someone else at Schwab Austin (they are moving out of SF). Just talk with them - they will help. I can't think of anything to warn you about.


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## Gatos (Aug 16, 2016)

Rammstein said:


> I'm working on the Schwab application and trying to get all the required attachments together. Any tips?


I should add - if you are going to transfer accounts (in their entirety) from one financial institution to another - you should talk to the 'new' institution because they know how to make that work correctly.


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## Rammstein (Jun 18, 2016)

Gatos said:


> I should add - if you are going to transfer accounts (in their entirety) from one financial institution to another - you should talk to the 'new' institution because they know how to make that work correctly.


Thanks, I'll do tthat tomorro.


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