# Opening a Bank Account



## TigerFox (Aug 16, 2013)

Can one open a Mexico bank account as a tourist?


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## chicois8 (Aug 8, 2009)

Yes.......and buy property ......


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## Isla Verde (Oct 19, 2011)

TigerFox said:


> Can one open a Mexico bank account as a tourist?


A few years ago in Mexico City, I had to present my FM3 in order to be able to open an account at Santander. I don't know if this is still the case.


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## TigerFox (Aug 16, 2013)

*Opening Bank Account*



chicois8 said:


> Yes.......and buy property ......


Really? I thought you needed a resident type Visa. All I would have is a tourist visa (max I think is 90 days). Which bank and what documentation? Remember, I would have no permanent address there.

I am aware that you can buy property there.


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## Belizegirl (Oct 21, 2010)

You can open an account with Santander without having temporal or residente status. 

But, that is just my experience. I opened an account last spring with no problem.


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## Lorij (Jul 8, 2012)

You can also open one at HSBC with just the tourist visa and US passport.


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## Bill Gruntleman (Oct 18, 2013)

I never liked Mexican banks, have no use for them, and keep all my money in the USA.


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## kcowan (Jul 24, 2010)

Same at Bancomer. Passport and tourist visa.


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## Corri (Nov 2, 2013)

*English Speaking Banks*

What bank in Mexico provides investment advice in English for mutual funds? By telephone?


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## RVGRINGO (May 16, 2007)

Corri said:


> What bank in Mexico provides investment advice in English for mutual funds? By telephone?


Why would you expect them to do that? If you run into a particular branch, with a fluent English speaker, count yourself as fortunate but be prepared for that person to be promoted and transferred, leaving you with the need for Spanish again. Yes, you will find such service in some places, where expats abound, but not everywhere. The official language of Mexico is Spanish. The USA does not have an official language. Surprised?


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## kcowan (Jul 24, 2010)

We had really good support from Bancomer Preferred Client Unit for a couple of years. But it has eroded substantially over the last 3 years. Like RVGRINGO says, get with the program.

And if you want good advice on investing in mutual funds, it is to avoid them.


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## Detailman (Aug 27, 2011)

kcowan said:


> We had really good support from Bancomer Preferred Client Unit for a couple of years. But it has eroded substantially over the last 3 years. Like RVGRINGO says, get with the program.
> 
> And if you want good advice on investing in mutual funds, it is to avoid them.


And that seems to be true in many countries, not just Mexico.

All those that I know of in Canada that were in mutual funds, including myself, received very poor returns. (Yes, there are some that give a good return, but it seems to be the exception.) The management fees eat most of the profits. Since I got out of mutual funds I have done much better.


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