# Banamex no American Cards



## Me Linda (Jan 26, 2017)

I live 3 blocks from a banamex bank and since I have no car walked there to inquire about a account. I was told the accounts they gave and what I would need. I was also told they take no American debit or credit cards in there atms? I tried to use my debit card and it was rejected. I left confused and wondering if something was up with this bank. This morning I read that banamex USA and city group were given huge fines for money laundering across the border. I just wonder if it is safe to open account there? Is Banamex USA and Banamex Mexico the same company?


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## TundraGreen (Jul 15, 2010)

Me Linda said:


> I live 3 blocks from a banamex bank and since I have no car walked there to inquire about a account. I was told the accounts they gave and what I would need. I was also told they take no American debit or credit cards in there atms? I tried to use my debit card and it was rejected. I left confused and wondering if something was up with this bank. This morning I read that banamex USA and city group were given huge fines for money laundering across the border. I just wonder if it is safe to open account there? Is Banamex USA and Banamex Mexico the same company?


I used a US debit card in a Banamex a few months ago with no problem. I don't know if the policies have changed.


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## Haskins (May 21, 2017)

Me Linda, 
Is it possible to meet with a Banamex executive to find out why the cards aren't being accepted? It could only be a temporary glitch. Please keep us informed if you do. Thank you for the heads up!


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## chicois8 (Aug 8, 2009)

Banamex USA was closed due to money laundering problems, I use Citi-Banamex Banking card all the time and never had a problem......


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## Anonimo (Apr 8, 2012)

Me Linda said:


> I live 3 blocks from a banamex bank and since I have no car walked there to inquire about a account. I was told the accounts they gave and what I would need. I was also told they take no American debit or credit cards in there atms? I tried to use my debit card and it was rejected. I left confused and wondering if something was up with this bank. This morning I read that banamex USA and city group were given huge fines for money laundering across the border. I just wonder if it is safe to open account there? Is Banamex USA and Banamex Mexico the same company?


Banamex USA shut down a couple of years ago. Both Banamex USA and Banamex (now called CitiBanamex) were owned by Citicorp.

I don't know why your ATM card was rejected. You might try it again. Sometimes ATM instructions can be confusing.


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## travelingrae (Dec 9, 2016)

Anonimo said:


> Sometimes ATM instructions can be confusing.


Yes. Scotiabank does this lovely thing where they'll say your card isn't authorised for their ATMS or something along those lines and I finally figured out after some trial and error that that is just a generic message. In my case, I had to change the amount I wanted to withdraw. For some reason, they insist on an even thousand number of pesos and I can't take out more than 6,000MXN at a time despite having a higher limit. If I want more, I have to do two transactions, both with an even thousand. Not saying that's your problem, but if you want to retry, that's a possible reason you're having trouble.


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## Me Linda (Jan 26, 2017)

That would have been my first reaction, but I tried after I had Been told by the bank employee that the ATM was not accepting American bank cards. And I don't think it is just the ATMS, when I asked if I could take the initial deposit for new account from my debit card when I come back after receiving PR card , I was told I would need to write a check .I also went with the lowest amount for withdrawal at ATM It took me all the way to the end and said transaction can not be completed . Reading the article today could just be a huge coincidence and Banamex Mexico maybe a totally separate bank. It's just the coincidence of both in 2 days lol.


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## eastwind (Jun 18, 2016)

Different banks put different per-transaction withdrawal limits on their ATMs (in pesos), and they charge different per-transaction fees. The limits have nothing to do with your account, it's a policy of the ATM owner. Your US bank will probably have put a separate daily withdrawal limit (in dollars) on your account for your security, and you can't go over that either. It may be impossible to tell which limit you're hitting, unless you know your bank's daily limit and know you haven't hit it. And you have to have some idea of the exchange rate they're using to figure if you're hitting your account limit.

I've found that HSBC ATMs will give me 10,000 pesos per transaction (if my account limit is high enough to cover that), and they charge a 33.35 peso transaction fee. Santandar ATMs max is 6000 in my experience, but their fee is 25.52 pesos. I'm always trying to take out the max per transaction to keep the cost of these fees down, as well as choose a bank with the best exchange rate using an android app to compare them. 

Often ATMs provide a menu of different withdrawal amounts, plus an "other amount" choice, and the max the ATM allows turns out to be the largest of those suggested amounts. I usually pick "other amount" and enter larger amounts to try and see what I can get, and I get rejected and end up working back down to the maximum amount listed on the menu to prove to myself that its the most I can get for one payment of their transaction fee.

I've had no luck with Bancomer lately. My android app sent me there for a really good exchange rate, but the first ATM I tried would not allow an ATM withdrawal, it was trying to turn the transaction into a cash advance on a credit card, but I have a debit/ATM card and it said my limit was 0, so that wasn't working.

That Bancomer had several ATMs in a row, and one of them was "special". It was a physically larger machine and had extra signs around it that seemed to indicate it supported extra things, like bill pay, so I gave it a try. It was willing to do a withdrawal, but had an 80 peso fee! So I ditched Bancomer and headed for HSBC that day in spite of a lower exchange rate there.

I used to be able to do enough math in my head to figure out whether an exchange rate of 19.30 with a fee of 80 pesos for a 6000 peso withdrawal was a better deal than a 10000 peso withdrawal at 18.70 with a 33.35 peso fee, but not any more, so I just decided to be offended by the 80 peso fee and take my business elsewhere.


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## travelingrae (Dec 9, 2016)

eastwind said:


> That Bancomer had several ATMs in a row, and one of them was "special". It was a physically larger machine and had extra signs around it that seemed to indicate it supported extra things, like bill pay, so I gave it a try. It was willing to do a withdrawal, but had an 80 peso fee! So I ditched Bancomer and headed for HSBC that day in spite of a lower exchange rate there.


I"ve encountered those before. 

I'll never use Bancomer again. I tried to make a withdrawal at one of their ATMs a few months into my first stay in Mexico and the ATM didn't give me my money, but debited my account. I called my bank in Canada and they took care of the process of getting my money back. Bancomer dragged it out as long as they legally could and apparently gave my bank a really hard time about it, even though I had witnesses and videotape proving that I never got the money. My bank said that Bancomer is the only Mexican bank takes takes so long to resolve such issues and is their least favourite to deal with when things happen.

Personally, my first choice is Santander and is where I'm going to try to open an account. Never have any trouble there and I love that they give a mix of small and large bills. But I'm currently stuck going to Scotiabank since I get free withdrawals there. Banamex is my third choice.


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## TundraGreen (Jul 15, 2010)

Bancomer used to be my first choice. In fact, at one point I opened an account with a US Bank owned by the BBVA Bancomer, Compass. The said they were going to merge the two banks but it never happened. Then a few months ago, I started having trouble with Bancomer ATMs. They would tell me the transaction was not allowed. So I switched to HSBC. That is my current first choice, primarily because it is the closest.


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## eastwind (Jun 18, 2016)

BTW The mix of bills you get depends on the amount you withdraw as well as the bank and ATM you withdraw it from. From the very same HSBC ATM, if I take out 10,000 pesos I get 1000 pesos in 100's and the rest 500's. If I take out 9,000 pesos I get 7500 pesos in 500's and 1500 pesos of smaller bills, including some 50's, 100's and 200's.

I was favoring HSBC until recently because my android app consistently showed them as the best exchange rate among the ATMs I have access to. (In town I have easy access to HSBC, Banamex, Bancomer, Scotia, Santandar, Azteca and Red). But in the last 2 or 3 weeks HSBC's rate has gone down faster than the other banks, and Bancomer is the best (except see above post about that).

It's all a llittle iffy because the app shows a Buy and Sell price and my experience is that with the ATM I get a rate in between, usually closer to the Sell price. I'm using "The Dollar in Mexico" for android. If someone has a better or more accurate app I'd appreciate knowing about it.

I'm also terminally confused about the Buy/Sell terminology anyway, because I don't know whether they're talking about what the bank's doing or what I'm doing, and whether it's with respect to dollars or pesos - if I'm giving the bank dollars and they're giving me pesos, is that "buying" or "selling"? I'm selling dollars and buying pesos, and they're buying dollars and selling pesos. If someone can authoritatively explain the terminology that would help.


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## ojosazules11 (Nov 3, 2013)

TundraGreen said:


> Bancomer used to be my first choice. In fact, at one point I opened an account with a US Bank owned by the BBVA Bancomer, Compass. The said they were going to merge the two banks but it never happened. Then a few months ago, I started having trouble with Bancomer ATMs. They would tell me the transaction was not allowed. So I switched to HSBC. That is my current first choice, primarily because it is the closest.


Interesting, because we started having the same issue with Bancomer ATMs being hit and miss a few months ago, too. I'm back in Canada, not sure if my husband has still been having issues with Bancomer, or if he's just routinely using the HSBC ATM nearby now.


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## joaquinx (Jul 3, 2010)

eastwind said:


> I was favoring HSBC until recently because my android app consistently showed them as the best exchange rate among the ATMs I have access to.


Could you share with us the name of that app. I thought that the exchange rate was determined by VISA on credit card and by your home bank on debits.


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## bournemouth (May 15, 2007)

If you have enough on deposit with BBVA Compass, they refund your ATM transaction fees from any ATM that I have used in Mexico. Between that and HSBC ATM's, things are finally o.k. I've just about given up on Bancomer ATM's handling US cards. It has to be a deliberate decision on the part of Bancomer.


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## Me Linda (Jan 26, 2017)

So bancomber doesn't take USA cards either? Is banamex and bancomber separate banks . From what I have read here I am leaning toward HSBC even if I have to take a taxi there. I will need to use my American debit card to pull money to put in my account here . Thanks 4 the response.


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## circle110 (Jul 20, 2009)

Interesting. I have used my US Schwab debit card at all of the above mentioned banks' ATMs in the last couple months and have not been rejected. They impose daily limits that I have bumped up against but that is the only restriction I have encountered. The limits are set by the bank/ATM, not Schwab.


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## eastwind (Jun 18, 2016)

joaquinx said:


> Could you share with us the name of that app. I thought that the exchange rate was determined by VISA on credit card and by your home bank on debits.





eastwind said:


> I'm using "The Dollar in Mexico" for android. If someone has a better or more accurate app I'd appreciate knowing about it.


I have also tried an app called "Mexican Peso". It has a smaller and less useful range of surveyed bank exchange rates. The only reason I still have it on my phone is that it can do a graph of rates over 7, 30, 60, 120, 180, 270 days, 1 yr and 2yrs.

Both apps were free from the play store.


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## perropedorro (Mar 19, 2016)

Me Linda said:


> I live 3 blocks from a banamex bank and since I have no car walked there to inquire about a account. I was told the accounts they gave and what I would need. I was also told they take no American debit or credit cards in there atms? I tried to use my debit card and it was rejected. I left confused and wondering if something was up with this bank. This morning I read that banamex USA and city group were given huge fines for money laundering across the border. I just wonder if it is safe to open account there? Is Banamex USA and Banamex Mexico the same company?


This is something new to me. I regularly draw cash from my US Credit Union account. ATM fees are quite variable, anywhere from 22-90 pesos, on top of whatever your home dings you for, and that also runs the range from zero to $5 or 3%. I keep a local account at Santander (not the best) although they give me a debit card for purchases where US CCs often are not accepted-- which for me are soccer games and bus tickets. Never take out a Mexican CC because their terms are abusive even for platinum level customers.


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## travelingrae (Dec 9, 2016)

perropedorro said:


> I keep a local account at Santander (not the best)


Could you please PM me or do a quick post about why you feel that way about Santander? That's who I was thinking of opening an account with and would appreciate a testimonial.


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## ojosazules11 (Nov 3, 2013)

bournemouth said:


> If you have enough on deposit with BBVA Compass, they refund your ATM transaction fees from any ATM that I have used in Mexico. Between that and HSBC ATM's, things are finally o.k. I've just about given up on Bancomer ATM's handling US cards. It has to be a deliberate decision on the part of Bancomer.


I don't think it's a deliberate decision by Bancomer, given how hit and miss it has been for me and my husband. The same ATM might not accept his card, but accept mine. Vice versa next time. One ATM might not work, the one beside it would (still Bancomer). Also it was never that the card was outright rejected, just would get a message stating the transaction could not be completed or the requested service was not "disponible" at that time.


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## sparks (Jun 17, 2007)

Banamex is the only bank here and I use it weekly. Don't use Bancomer in nearby town because of higher ATM fees


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## horseshoe846 (Feb 8, 2017)

eastwind said:


> I have also tried an app called "Mexican Peso". It has a smaller and less useful range of surveyed bank exchange rates. The only reason I still have it on my phone is that it can do a graph of rates over 7, 30, 60, 120, 180, 270 days, 1 yr and 2yrs.
> 
> Both apps were free from the play store.


I'm confused - why would you ever exchange currencies via a bank ?


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## joaquinx (Jul 3, 2010)

horseshoe846 said:


> I'm confused - why would you ever exchange currencies via a bank ?


Same here. Bank rates via the teller are the worst possible. Unless you are packing currency, then they and casas de cambio are the only ones in town.


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## eastwind (Jun 18, 2016)

I was under the impression that when you used an ATM, the exchange rate was set by the bank that owned the ATM. So I was using the bank's posted cash exchange rate's to pick which ATM to use. I wasn't expecting to get their cash exchange rate, but I figured that between two banks with different posted cash rates the ATM rate would be better at the bank with the better cash rate.
The banks here won't even change cash, they send you to the money changers (who give the worst rates you can find). 

I had this impression about ATM rates based on something I'd read, but I don't remember now where I got the info from. Further research indicates it's more complicated than I realized. 

Sometimes the exchange rate is set by the ATM owner, for example if you choose an option to let them do the currency conversion, but that's almost always a poorer rate and a bad choice, and should require an explicit menu choice made by pressing buttons on the ATM, so usually doesn't apply.

Sometimes the rate is set by VISA or Mastercard, depending on the logo on the card (that is what a BankAmerica FAQ said for their ATM cards, but I don't have bankamerica cards). 

I've read that sometimes the ATM network owner (e.g. plus or cirrus) sets the rate, and I've read that sometimes it's the interbank rate, or the interbank rate plus 1%, etc.

I read that for some countries, it's a rate set by the government the day before - I think that
applies to countries that peg their currency to other currencies, and doesn't apply to Mexico, but I'm not sure.

I've also read that the rate isn't set when you do the withdrawal, but when the transaction is processed, which will be the next business day on nights and weekends - or could even be further out if bank holidays are involved.

I have two cards, a mastercard branded ATM card from a US credit union with logos from cirrus, co-op and star ATM networks on it, and a visa branded ATM card from schwab with interlink, Plus and moneypass logos. One day I had a reason to do two withdrawals from the same ATM using each card once. I compared the exchange rates, and I got a different rate on the two withdrawals. 

The rate I got from Schwabb/Visa/Plus was not as good as the rate I got that day from the credit union/Mastercard/Cirrus. But my credit union charges 1% on international transactions, as a separate account debit, so factoring that cost in the Schwabb withdrawal cost me less.

Schwabb also supposedly refunds the fees charged by the ATMs at the end of the month, but that isn't happening for me yet, I need to call customer service and complain.


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## horseshoe846 (Feb 8, 2017)

At one point I put significant effort into figuring out what was the best 'situation' for us. Times change, perhaps I should redo the research, but this is what I go on. Your mileage may vary... (Opening my wallet).

- I have an HSBC Mexico Premier MasterCard Credit Card. It is free, has a decent limit and collects points. The benefits are about in line with an American Express Gold Card. I use it every once in a while just to let them know I am still alive and not lock the account due to inactivity.

- I have an HSBC Premier Visa debit card which I almost never use.

- I have a peso base Costco credit card (banamex). We use it a lot at Costco. I think paired with our black Costco membership card gets us 4% discount/rebate.

- I have a blue Bank of America Visa credit card (Travel Rewards). We also have a Platinum Honors account at BofA. Earlier today I cashed out some of our accumulated points which just about reimbursed our travel related costs for our last trip to the States.

- I have a Schwab One International Visa debit card. I use it to pull pesos (at Mexican ATMs) out of our dollar based Schwab account.

- We have other cards but they sit in a closet someplace and we never use them.

Both Schwab and BofA know that we live in Mexico and that is the only place we live. Schwab treats us a little differently than a US resident. So far BofA couldn't care less.

So the cards I use which have potential currency exchanges are the Schwab debit card and the BofA credit card. Both Visa. Visa has a web based currency exchange calculator. To be honest it is a little funky. Sometimes it will post the exact same exchange rate for days - even if the currencies move wildly. I'm not sure I have ever used the BofA card in a Mexican ATM. When I use the Schwab card in a Mexican ATM I am asked if I agree to the 34 peso fee. So on 5/26 I withdrew 7000 pesos from an HSBC ATM and my Schwab account was debited 383.56 and on the same day I was reimbursed 1.82 for the ATM fee. There are no other fees.


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## Me Linda (Jan 26, 2017)

So after reading the posts I waited a week thinking it was just a glitch in the system at banamex. No dice still not accepting American cards. I tried 2 different debit cards and two different credit cards. I tried 2 different machines. Is it just this one branch ? Has anyone here used a USA debit card at banamex recently?


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## circle110 (Jul 20, 2009)

Me Linda said:


> So after reading the posts I waited a week thinking it was just a glitch in the system at banamex. No dice still not accepting American cards. I tried 2 different debit cards and two different credit cards. I tried 2 different machines. Is it just this one branch ? Has anyone here used a USA debit card at banamex recently?


Yes, yesterday (wait, maybe it was it the day before -- I just woke up from a nap :tongue. 
I have been using my USA debit card at Banamex regularly without problems. It may be just that one location that you are going to.


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## Stare Decisis (Jan 29, 2017)

eastwind said:


> Schwabb also supposedly refunds the fees charged by the ATMs at the end of the month, but that isn't happening for me yet, I need to call customer service and complain.


Were you able to get this resolved, so that Schwabb is reimbursing you for ATM fees? 

I just opened a checking account at Bank of America, as they partner with Scotiabank (my primary accounts are with US Bank, which has no international partnerships). However, it looks like I may still be charged a foreign transaction fee with BoA, just not an ATM fee. The Schwabb checking looks like a much better option to me (and it looks like there's no monthly fees or minimum opening, which is great for me as a student), but not worth it if they are hit and miss with ATM fee reimbursements.


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## joaquinx (Jul 3, 2010)

Me Linda said:


> So after reading the posts I waited a week thinking it was just a glitch in the system at banamex. No dice still not accepting American cards. I tried 2 different debit cards and two different credit cards. I tried 2 different machines. Is it just this one branch ? Has anyone here used a USA debit card at banamex recently?


Are you using the ATM at only one site or have you tried other Banamex ATM or even ATMs at other banks?


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## Me Linda (Jan 26, 2017)

Yes sir cards work at scotia bank and free of charge as I use b of a in the states. I wish there was a scotia bank here . I think I will just wait to open a account and use a taxi to scotia ATM . Thanks 4 all the posts !


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## eastwind (Jun 18, 2016)

Stare Decisis said:


> Were you able to get this resolved, so that Schwabb is reimbursing you for ATM fees?


Yes! I just checked and there are two ATMREBATE entries on my account for 4/28 and 5/31. So it started happening by itself. Now I could have sworn I checked sometime around May 7 and that 4/28 one wasn't there. So maybe it took a while to get going and they retroactively entered the credit, or maybe I just didn't see it.


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