# Bank account



## Twofrogs7

Can an american open a bank account with a tourist visa if they have proof of address ??
Thanks


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## Isla Verde

Twofrogs7 said:


> Can an american open a bank account with a tourist visa if they have proof of address ??
> Thanks


Proof of address where? A few years ago when I opened a bank account in Mexico, I had to show proof that I had a residence visa. A tourist card would not have done the trick.


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## joaquinx

Tour the banks. I believe that there is at least one who will open an account for you.


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## Isla Verde

joaquinx said:


> Tour the banks. I believe that there is at least one who will open an account for you.


Any idea of which bank or banks that could be?


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## joaquinx

Isla Verde said:


> Any idea of which bank or banks that could be?


Not a single idea. I have heard Banamex and BBVA, but somehow it depends on the branch. Normally, it requires a Temp or Perm, but some people have gotten them with a Visitante. That's why I said to tour the banks.


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## Twofrogs7

Thanks for your replies .....my husband and I are going to be renting a condo in Puerto Vallarta for a year to get a good rate but will come and go so it would be nice to have a local account. I know we can't stay longer than six months but can leave for a few days and come back for another six months. Is that correct ? How many times can you do that ?
Thanks


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## chicois8

You may soon get an answer from post #6 from a member living in a windy city.........

You used to be able to start the process to open an account at the citi international dept. for a Banamex account.


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## Isla Verde

chicois8 said:


> You may soon get an answer from post #6 from a member living in a windy city.........


That person is no longer a member of this forum.


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## michmex

Twofrogs7 said:


> Can an american open a bank account with a tourist visa if they have proof of address ??
> Thanks


Things are constantly changing in Mexico and individual local branches have been known to interpret things differently at times.


Banamex Basic Account - Requirements (English)

https://www.banamex.com/en/personas/cuentas/tarjetas_debito/cuenta_base.htm

BBVA Bancomer did not list separate requirements foreigners. My local branch wanted to see my Resident card but did not enter any information from it - only my passport.

Bancomer Requirements for basic account (Use Google Translate)
Libretón - BBVA Bancomer


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## chicois8

Que Lastima, but like the Phoenix he will return under an alias,it's a pattern.... 




Isla Verde said:


> That person is no longer a member of this forum.


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## joaquinx

chicois8 said:


> Que Lastima, but like the Phoenix he will return under an alias,it's a pattern....


If he isn't here already.:confused2:


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## Isla Verde

joaquinx said:


> If he isn't here already.:confused2:


If he is, he hasn't posted yet. No fear, Tundra Green and I are keeping an eye out for him.


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## sparks

Keeping a lot of pesos over the last six months would have been a real bad idea


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## RVGRINGO

If you increase your daily ATM limit with your US bank, why not just use that method for cash. We lived happily in Mexico for 13 years without a Mexican bank account. They do not behave like US banks and are often a hassle.


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## joaquinx

RVGRINGO said:


> We lived happily in Mexico for 13 years without a Mexican bank account. They do not behave like US banks and are often a hassle.


I believe that you are missing some personal experience here.


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## joaquinx

sparks said:


> Keeping a lot of pesos over the last six months would have been a real bad idea


If I could have read the future, I would have waited until today. Unless, of course, the peso will drop even more in the future. Aside from that, I use pesos everyday and bought them when I needed them.


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## chicois8

Wish we could have polls on this board........
My guess is the Peso will top out at 17 x $1..........Hit 16 x 1 today....


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## joaquinx

chicois8 said:


> Wish we could have polls on this board........
> My guess is the Peso will top out at 17 x $1..........Hit 16 x 1 today....


I'm afraid to guess. A few weeks ago, I said that the peso would never hit 15.60. Oops, my bad!


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## Isla Verde

joaquinx said:


> I'm afraid to guess. A few weeks ago, I said that the peso would never hit 15.60. Oops, my bad!


If it hits 18, I'm going to exchange some dollars I've been hoarding for a pile of pesos.


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## chicois8

Isla Verde said:


> If it hits 18, I'm going to exchange some dollars I've been hoarding for a pile of pesos.



So is that your guess?


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## Isla Verde

chicois8 said:


> So is that your guess?


More like a wish :fingerscrossed: .


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## TundraGreen

Isla Verde said:


> If it hits 18, I'm going to exchange some dollars I've been hoarding for a pile of pesos.


Then what will you do when it hits 36, or 100. Speculating in currency is like visiting Las Vegas.


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## Isla Verde

TundraGreen said:


> Then what will you do when it hits 36, or 100. Speculating in currency is like visiting Las Vegas.


It's not speculating for me. Just a chance to get a few more pesos for my dollars. Otherwise, I'll hang onto the few hundred dollars I have on me and will spend them the next time I visit the States.


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## kcowan

Back in 2007 I opened a Bancomer account with a tourist visa. But with FATCA, I suspect it is much harder now. We have an Intercam account because they will deposit a Canadian cheque and give immediate credit for the balance (whereas Bancomer takes 18 days).


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## joaquinx

kcowan said:


> Back in 2007 I opened a Bancomer account with a tourist visa. But with FATCA, I suspect it is much harder now. We have an Intercam account because they will deposit a Canadian cheque and give immediate credit for the balance (whereas Bancomer takes 18 days).


All Mexican banks are compliant with FATCA. Opening a bank account in Mexico will not be a problem. Plus Intercam doesn't have branches everywhere like Bancomer, HSBC, Banamex, etc. do.


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## WintheWin

What are perceived benefits of having a Mexican bank account?
When you can just use your American debit card/withdraw funds for when you need hard cash?

I can just call my bank to fix any issues with my American account, on the occasion where my info's been swipped/copied/stolen I've gotten my funds back immediately. I hear if you have any fraud issues in Mexican bank accounts, you're SOL. Not my experience, but close family members have had relevant experiences. With US banks it's pretty straightforward.

The only thing that I'd wager would be a pain, was if you lost your debit card and needed a prompt replacement. My bank ships internationally, but I don't know how quickly it'd get here.


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## TundraGreen

WintheWin said:


> What are perceived benefits of having a Mexican bank account?
> When you can just use your American debit card/withdraw funds for when you need hard cash?
> 
> I can just call my bank to fix any issues with my American account, on the occasion where my info's been swipped/copied/stolen I've gotten my funds back immediately. I hear if you have any fraud issues in Mexican bank accounts, you're SOL. Not my experience, but close family members have had relevant experiences. With US banks it's pretty straightforward.
> 
> The only thing that I'd wager would be a pain, was if you lost your debit card and needed a prompt replacement. My bank ships internationally, but I don't know how quickly it'd get here.


I have both Mexican and US bank accounts. I use the Mexican accounts for online purchases in pesos, like paying the cable bill and the electricity bill and the Netflix bill. I use the US debit card to get cash at ATMs. For online purchases in dollars, like travel expenses, I use a US account.

Incidentally, a few months ago someone started making purchases with my Mexican debit card. I complained to the bank and they reversed them. It took three trips to the bank and a lot of time but eventually I got the money back and a new debit card.


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## joaquinx

TundraGreen said:


> I have both Mexican and US bank accounts. I use the Mexican accounts for online purchases in pesos, like paying the cable bill and the electricity bill and the Netflix bill. I use the US debit card to get cash at ATMs. For online purchases in dollars, like travel expenses, I use a US account.
> 
> Incidentally, a few months ago someone started making purchases with my Mexican debit card. I complained to the bank and they reversed them. It took three trips to the bank and a lot of time but eventually I got the money back and a new debit card.


US account for US purchases and Mexican account for Mexican purchases.

I, too, had some erroneous purchases on my account totaling 5,000 pesos. I went to the bank where they put me on the telephone to a person in DF. For over an hour we went over the charges. They then gave me a new debit card and within 2 days, all the charges were reversed.


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## Anonimo

> What are perceived benefits of having a Mexican bank account?
> When you can just use your American debit card/withdraw funds for when you need hard cash?


When you need more than your daily ATM limit, for extraordinary expenses. It happens.


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## makaloco

Like Will, I use both Mexican and US debit cards. My Social Security payments are direct-deposited to my Bancomer account, and that's my main source of funds. For extraordinary expenses (e.g. medical, home improvement, travel), I use a US card. With my Bancomer account I can autopay the Telmex bill, which often doesn't arrive by mail until it's past due. Also, I've found that some smaller business (or their card machines) are more willing to accept a Mexican card than a foreign one.

Since my wallet was stolen a few years ago, I don't like to carry my US cards all the time. They can be a PITA to replace, while for the Bancomer card the process is immediate and straightforward. American Express (US) sent replacement cards to my Mexico home address via courier, but they still took 2-3 business days to arrive. My US bank would not send a replacement card to Mexico, so I had to have it sent to a relative in the US, who then had to send it to me. That took about three weeks, so if the US debit card had been my only way of getting cash, I'd have been out of luck.


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## kcowan

My Canadian bank will send a replacement card to Mail Boxes and I instruct the attendant to sign for it. I have had a relationship with the guy for many years and trust him. He also receives any mail I still get in hard copy. Most of that is gone now.

My Mexican bank is used to get a discount for cash on big ticket purchases like a dining room table when paid by local check. It is also used to make direct transfers to anyone offering a service like car repairs, TV repairs, and to directly pay for utilities. I figure if I am living in a country I should give them the business. I even have 100,000 pesos invested in a CD (but being a Canuck, I have not lost much in exchange!).


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## sixcats

Twofrogs7 said:


> Can an american open a bank account with a tourist visa if they have proof of address ??
> Thanks


Depends on what you mean by 'bank account'. We opened our HSBC Mexico 'checking' account while sitting in a US branch - prior to our move. That account helped us get our feet on the ground, but earned no interest. Things change over time - not sure that is still possible.


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## sixcats

joaquinx said:


> US account for US purchases and Mexican account for Mexican purchases.


Couldn't disagree more.

With the current exchange rate greater than 16:1 'everything' we spend in Mexico (Pemex, Costco, Mega etc) goes on our US BofA Travel Rewards card. I really only carry our Mexican cards as a last resort. 

btw - our BofA card (Visa) offers the exact same exchange rate as our Schwab debit card (also visa) (although we have never use the Schwab card).

Edit : but the pesos we own were purchased at a much lower exchange rate.


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## wonderphil

RVGRINGO said:


> If you increase your daily ATM limit with your US bank, why not just use that method for cash. We lived happily in Mexico for 13 years without a Mexican bank account. They do not behave like US banks and are often a hassle.


Yes the local banks have been sort of a hassle for me but that is probably mostly because I am not fluent with the language and not native to the culture. However I don't live in Mexico full time so I wanted a Mexican bank account so that I could pay my local bills in pesos. Then I can pay my few monthly bills on the internet from my summer home in the USA or from my condo in Mexico.


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## wonderphil

sixcats said:


> Couldn't disagree more.
> 
> With the current exchange rate greater than 16:1 'everything' we spend in Mexico (Pemex, Costco, Mega etc) goes on our US BofA Travel Rewards card. I really only carry our Mexican cards as a last resort.
> 
> btw - our BofA card (Visa) offers the exact same exchange rate as our Schwab debit card (also visa) (although we have never use the Schwab card).
> 
> Edit : but the pesos we own were purchased at a much lower exchange rate.


That is pretty much the way we do it. Using the card you mentioned and other cards that have no foreign transaction fees they pay me 1 % or more rebate when we pay our bill off in full every month. 

The Mexican card I have is a debit card which I only use as a last resort. I do not like debit cards anyway and that subject has been discussed to some extent.


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## mes1952

I've used my BofA debit card here in Baja for many years and never had a problem. Others have told me that the other big banks have much higher fees including credit unions. If you use Santander there is no ATM fee and the international fee is very low and never had a problem withdrawing up to 7,000 pesos at a time.


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## joaquinx

It seems that credit card users have the upper hand in this argument. I originally thought that making purchases via credit card would be more costly that xoom or a debit card. Going to the ATM with a BofA debit card gave approx. the sam results as xoom. I had never tried my credit card for purchases, but below is the results at my local Chedraui store. BofA gave me the same rate as Visa and XE. All this without a transaction fee. This purchase was done on a Saturday as the date reflects. As of yesterday, BofA posted the charge as "cleared" and as of today, 8/19, there aren't any fees or transaction charges. Next I'll try the ATM as see what the results are.

Chedraui 336.09 pesos
BofA Credit 20.53 usd
BofARate 16.37 
Visa Rate 16.37
Xoom Rate 15.87
Trans fee 0.00
XE Rate 16.38
8/16/2015


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## jambi

Forget about tourist visas. Banamex, Scotiabank, Bancomer, and Banorte won't even open an account for you on a temporary visa, not even if you have "permisso para trabajar". Scotiabank used to, but now they don't. You need a permanent resident visa to open an account at any of those banks. I checked...kinda sorta doesn't make sense...permission to work but no permission to open a bank account?? 

HSBC apparently will (on a temp visa, IDK about tourist, but doubt they would). Or so they told me anyway. On advice of my mother who has had no end of problems with her Mexican bank accounts (Scotiabank), I opted to avoid the potential hassles and just go cash and carry. My mother was able to get me a credit card through her Scotiabank account with my name on the card, but no go on the atm/debit card. Again, doesn't make sense.

BTW, I neglected to check Santander. Maybe they will.

Mexican banking is definitely...quirky to say the least.


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## mr_manny

sixcats said:


> btw - our BofA card (Visa) offers the exact same exchange rate as our Schwab debit card (also visa) (although we have never use the Schwab card).
> 
> Edit : but the pesos we own were purchased at a much lower exchange rate.


I also like the idea of using a CC over a DC.
Has anyone ever had fraudulent charges on their DC...Not Fun 

It's never a fun experience, but better when they occur against your CC.


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## joaquinx

mr_manny said:


> Has anyone ever had fraudulent charges on their DC...Not Fun


Had about 5k pesos charges on my Mexican debit card. Went to the bank and they put me on a telephone with an agent in DF. I sat there for an hour discussing each charge. Within two days all the charges were reversed.


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## ChristopheLassuyt

here is some info: How to open a bank account in Mexico

hope that helps


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## chicois8

Since the terms FM2 & FM3 have not been used in years I wonder how up to date the info really is...


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## mr_manny

When opening a new bank account, I found that some banks include requisitos.

For example, bancomer has 2 types of accounts...min. balance and without min. (which includes a monthly fee).
Both types require that you participate in some sort of bank sponsored policy for a min. of 6months.

The least burdensome was a life insurance policy, which automatically deducts 230pesos each month.

Guess who has a new life insurance policy


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## TundraGreen

chicois8 said:


> Since the terms FM2 & FM3 have not been used in years I wonder how up to date the info really is...


In addition the English is atrocious. And the use of "M" for "mxn" is highly unusual. I makes you think they are quoting amounts in units of millions of pesos or dollars. Altogether it does not inspire trust. More significantly, there is not a lot of real information in the article. Essentially it says " find a bank and go there". The only attempt at hard information is the list of identification you will need: passport, proof of address, and residence document. That is either obvious or out of date as Chicois pointed out.


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## chicois8

I still can not figure out the advantages for a US citizen to have a Mexican bank account with all their fees and taxes if you deposit too much money in a month...I have 3 different ATM cards that are fee free or fee reimbursed, ( Citi-Schwab-Cap 360 ) I can withdrawal $5000 USD a day from the ATM's.....In December I pay my yearly property taxes, In January I pay my yearly water bill and I always have a reserve credit in my CFE account.

So fellow expats what are the advantages???????


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## joaquinx

chicois8 said:


> I still can not figure out the advantages for a US citizen to have a Mexican bank account with all their fees and taxes if you deposit too much money in a month..


My account with HSBC is without fees and the tax on large deposits was eliminated last year.

You withdraw and carry around on your person over 80,000 MXN?


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## chicois8

No Jaoquinx ( thanks for the like) I wrote " I can withdrawal $5000 USD a day from ATM's" Not that I do, just showing if you need large amounts of cash it can be done......

So what are the advantages for you to have a Mexican Bank Account?


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## joaquinx

chicois8 said:


> So what are the advantages for you to have a Mexican Bank Account?


I thought you were going to reconcile your claims that a Mexican bank account was a poor choice because of the fees and taxes.


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## chicois8

No just looking for the answer to my question...still


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## joaquinx

chicois8 said:


> No just looking for the answer to my question...still


Keep up the good work.


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## chicois8

Well, I guess I will not get it from you.........


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## joaquinx

chicois8 said:


> Well, I guess I will not get it from you.........


The answer is: because I want one. Now, since I mentioned no fees and no taxes that you believe that banks have, you tell me the disadvantages.


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## chicois8

I do not know all the disadvantages, that's why I am asking what the advantages are...In my area with only 1 bank (Bancomer) they can have very long lines, sometimes they will not accept USD and friends complain about misunderstandings with language ....


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## mr_manny

Advantages?
How about something as simple as having options/choices?

Long line at the ATM, head over to a teller...

As far as I'm concerned, having options are always a good thing


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## coondawg

chicois8 said:


> Well, I guess I will not get it from you.........


chico, here is our take on accounts in Mexican banks. I have had at least one since 1999, and my Mexican wife has had one much longer. Now, we both have debit cards from NOB that we use to withdraw funds as needed. For a time, we were putting those funds in one of 3 banks here that we have accounts, but no longer. We recently checked about a 6 month CD, and discovered that in all 3 banks, we would be charged 33 1/3% on any interest earned. WOW ! That is a lot. We also (for the first time ever) used one of those debit cards that has no name on it to purchase at a store. The cashier never asked for any ID and just processed it. That was very scary to us. So, we have made a decision. We are closing all our Mexican bank accounts and just using our NOB cards for funds when we need them, like you. We have found that (for us) there are no advantages(just dangers) to having a Mexican bank account, after at 13 years together.


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## Hound Dog

mr_manny said:


> When opening a new bank account, I found that some banks include requisitos.
> For example, bancomer has 2 types of accounts...min. balance and without min. (which includes a monthly fee).
> Both types require that you participate in some sort of bank sponsored policy for a min. of 6months.
> The least burdensome was a life insurance policy, which automatically deducts 230pesos each month.
> Guess who has a new life insurance policy


I guess I could have preceded my comment with any number of quotes from posters on this thread but chose this one because mr_manny stated he was required to "...participate in some sort or bank sponsored policy...." and both types of bank accounts he was offered carried that requirement so he bought a life insurance policy from the bank. I am not calling into question what Bancomer required of mr_manny but here has been my experience:

We have a savings account at Bancomer in Ajijic and have had one for 15 years. We also have a Banamex checking account in San Cristóbal de Las Casas which we have had for eight years. Neither bank has ever approached us to even remotely suggest that we must utilize any other service they offer in addition to these simple bank accounts in order to maintain the accounts. These accounts are both offered without any service charges as long as we maintain some mínimum balances which we consider to be inconsequential and balances we would maintain in the normal course of any banking relationship anyway simply for the sake of convenience. It´s been a while since I thought about this but I believe that the mínimum balance at Bancomer is now $8,000MXN and at Banamex is $20,000MXN. That Banamex minumum balance is greater because that account has certain benefits we have not requested of Bancomer. Incidentally, even when we have dropped below the required mínimum average balances at either bank we have never been assessed a service charge - ever. 

We also have a savings account with some TCD features at Banco Walmart but that account is as much for convenience and for the small discount on Walmart purchases available to us if we use their debit card to pay for ítems purchased at Walmart. We like that coupled with the normal 5.0% INAPAM discount Walmart offers us for our old-folks drugs which have proliferated as we have aged. 

We usually use our ATM debit cards issued by our U.S.bank or one of our Mexican Banks for our normal day-to-day cash needs up to $20,000MXN if we used all three cards which we never have since our $10,000MXN daily limit at our U.S. bank is normally more than sufficient for our needs. If we use our U.S. bank for ATM cash withdrawals the bank reimburses us for any charges assessed by the bank owning the ATM and these charges are reversed by our U.S. bank immediately as the transaction clears our bank. ATM charges at our Mexican Banks carry no transaction charges if we use their respective machines. If we need a large amount amount of cash for something like purchase of an auto or other large capital purchases, we wire the funds from our U.S. bank free of any charges from them or the Mexican bank to which the funds are transferred in Mexico and we also do not incur any overt or hidden charges at the receiving bank. We make sure of this by converting Dollars to Pesos at preferential bank rates in the U.S. and wiring those pesos net to our Mexican bank of choice. 

We pay all of our utility and other recurring Mexican Peso charges whether monthly or periodically through our Bancomer account free of charge so we NEVER have to stand in line at CFE or Telmex - a very important feature for us as we live in two separate communities and only communicate with utility companies and the like electronically. 

Our Mexican bank accounts are also useful to us in paying for Mexican Peso charges assessed by hotels and other remote service providers anywhere in Mexico or the U.S. This is especially important to us as we got rid of all of our credit cards after moving to Mexico after a couple of fraud attempts on our credit card accounts. We have never really needed a credit card in the years since we tore up those cards we brought down from the states whether resident here in Mexico or traveling in Europe as we often do since my wife is European by birth. I am sure we would have no problem without credit cards in the U.S. but never go there so I haven´t tested that presumption.

There are many advantages to having Mexican bank accounts but we still keep most of our funds in U.S. Dóllar accounts in the U.S. for reliable deposit insurance and to avoid the sovereign and exchange risk of holding foreign currency denominated accounts - especially accounts denominated in the volatile Mexican Peso.

Sincé we rarely enter either bank or any other bank but bank primarily electronically, we almost never stand in line so that burdensome task is rarely undertaken.

Here´s a vote for Mexican bank accounts. To each his own.


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## chicois8

mr_manny said:


> Advantages?
> How about something as simple as having options/choices?
> 
> Long line at the ATM, head over to a teller...
> 
> As far as I'm concerned, having options are always a good thing



I was speaking about long lines at tellers......

I like options also, mine are the 3 ATM cards I can use in over 140 countries around the world and at any bank in Mexico.......fee free


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## coondawg

Hound Dog said:


> Our Mexican bank accounts are also useful to us in paying for Mexican Peso charges assessed by hotels and other remote service providers anywhere in Mexico or the U.S.
> .


I'm not sure what these Peso charges are. Can you tell me if they are something that I could not use my NOB cards to take care of just as easily?



Hound Dog;8264546. said:


> There are many advantages to having Mexican bank accounts but we still keep most of our funds in U.S. Dóllar accounts in the U.S. for reliable deposit insurance and to avoid the sovereign and exchange risk of holding foreign currency denominated accounts - especially accounts denominated in the volatile Mexican Peso..


I wonder what these advantages are? Are they big things that can not be taken care of easily without having these bank accounts?




Hound Dog;8264546. said:


> To each his own.


Agreed.


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## coondawg

IV, can you tell me how to do that with the "quotes" ? Thanks, it looks nice !


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## Isla Verde

coondawg said:


> IV, can you tell me how to do that with the "quotes" ? Thanks, it looks nice !


You're welcome! I did it with the edit function, adding a bracket after the quote code, which is needed for the quote function to work. Here's an example:


coondawg said:


> . If you're not a moderator, then you have only a limited time to edit your own posts. Not sure how much time the system gives you. Moderators can always go back and edit any post on the forum at any time. Neat, eh?


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## joaquinx

coondawg said:


> We also (for the first time ever) used one of those debit cards that has no name on it to purchase at a store. The cashier never asked for any ID and just processed it. That was very scary to us.


No name on the card and showing an ID is going to verify what? You could show anyones ID, couldn't you? (this is typical when you open an account and get a debit card at the same time. There is no name on the card.) I did get ID'd once, but the debit card had my name on it.


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## coondawg

That is what makes it so scary !


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## joaquinx

coondawg said:


> That is what makes it so scary !


You can request a card with your name on it from the bank.


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## coondawg

We have decided that there is no advantage for us to maintain an account here, with our cards from NOB able to do everything that we want and need to do, plus providing us with a very good exchange rate and no fees. And, the risk element is reduced significantly for us, in our opinion. Each person should do what makes them feel more secure and happy. Gracias !


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## Hound Dog

coondawg said:


> I'm not sure what these Peso charges are. Can you tell me if they are something that I could not use my NOB cards to take care of just as easily?


We use our U.S. and Mexico issued bank debit cards to guaranty hotel room reservations over the telephone and also (at times) to pay for hotel fares upon exiting a hotel after our stays. We also often use our debit cards to pay for goods and services purchased via the internet and that procedure normally works flawlessly. Sincé we live in two separate homes seasonally which are great distances from one another (Jalisco and Chiapas), we use our Mexican bank accounts to affect bank account funds transfers to periodically pay our domestic staffs and house sitters protecting and maintaining the seasonally vacant home by crediting their bank accounts for the amounts we owe them. Just recently, a hospital in Guadalajara overcharged us for a surgical procedure and hospitalization and reimbursed us the amount of the overcharge by instantly crediting our account at Bancomer from their bank account. Had we not had a bank account in Mexico, I suppose we would have had to have driven to Guadalajara, picked up a check for the amount they owed us and taken that check to their bank seeking encashment. 

As for debit card transactions, your credit cards issued anywhere would certainly suffice for hotel and vendor transactions but I don´t know how you would periodically pay remote staff or other service providers except through intrabank or interbank transfers. 


_
I wonder what these advantages are? Are they big things that can not be taken care of easily without having these bank accounts?_ 

Damned if I know. We´ve always had bank accounts domiciled near our homes both in Jalisco and Chiapas and never explored the notion that the services we need could be accomplished without Mexican bank accounts. How, for instance, would I pay the monthly salaries of housekeeping and gardening employees and house/pet sitter fees without interbank funds transfers when those employees and fee-paid service providers live some 1400 kilometers distant from where I am living at the time? How would I reserve and guaranty a distant hotel room without bank issued debit cards since I don´t own any credit cards? 

I might inquire of you at this point what you suggest as an alternative remote payment médium for paying monthly utility charges but since I have no credit cards, hate standing lin line at a bank or service provider´s office and these bank accounts are totallly service charge free, why would I change payment methods after 15 problem and bank and utility line free years? 

The reader´s experience and needs may differ. As I wrote earlier, to each his/her own.


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## coondawg

Thanks, HD. Since we don't have staff to worry about, looks like we will be just fine.


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## joaquinx

HSBC pulled a fast one on me yesterday. I received an email from them stating that they wanted me to supply them with a W9, the FATCA form. I went down to my branch with the form. They asked me to show them my passport and comprobante domicilio. No problem. I went home and got the documents and returned. Then they asked me to to supply a *companero*! Why would they be asking me for a companero for a W9 form. I suspect harassment.


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## Isla Verde

joaquinx said:


> HSBC pulled a fast one on me yesterday. I received an email from them stating that they wanted me to supply them with a W9, the FATCA form. I went down to my branch with the form. They asked me to show them my passport and comprobante domicilio. No problem. I went home and got the documents and returned. Then they asked me to to supply a *companero*! Why would they be asking me for a companero for a W9 form. I suspect harassment.


Sorry to hear you're being harassed by your bank. What is a "companero"?


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## joaquinx

Isla Verde said:


> Sorry to hear you're being harassed by your bank. What is a "companero"?


Compañero - a friend, spouse, who knows


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## Isla Verde

joaquinx said:


> Compañero - a friend, spouse, who knows


I see. Maybe bring in someone as a character witness? I'm sure that any of your friends here at the Expat Forum would be happy to be one!


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## joaquinx

Isla Verde said:


> I see. Maybe bring in someone as a character witness? I'm sure that any of your friends here at the Expat Forum would be happy to be one!


Thank you for the offer, however, I wouldn't want to overextend our friendship to that extent. Xalapa is far from any willing member. 

I an wondering if any other US citizen with a Mexican bank account has been asked to submit a W-9 form and what were the requirements for submitting one?


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## Isla Verde

joaquinx said:


> Thank you for the offer, however, I wouldn't want to overextend our friendship to that extent. Xalapa is far from any willing member.


I'd be happy to be a compañera for you via SKYPE.


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## joaquinx

Isla Verde said:


> I'd be happy to be a compañera for you via SKYPE.


Thank you very much. I believe that bank wants to see you in person and SIGN some papers.


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## Isla Verde

joaquinx said:


> Thank you very much. I believe that bank wants to see you in person and SIGN some papers.


You're welcome. I didn't really think that a compañero via SKYPE would fly. Good luck with sorting out this problem with HSBC.


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## dwwhiteside

FYI, I have accounts at Scotiabank and Intercam and neither has ever asked me to provide anything other than my passport and Residente Permanente.


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## joaquinx

dwwhiteside said:


> FYI, I have accounts at Scotiabank and Intercam and neither has ever asked me to provide anything other than my passport and Residente Permanente.


That sounds about right. I first offered by RP, but they asked for my passport and comprobante domicilio also. That was fine with me, but to ask me for a compañero was too much. What the h*ll would a compañero offer that the other documents couldn't? Sympathy?

I'm seeing another bank on the horizon.


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## michmex

joaquinx said:


> What the h*ll would a compañero offer that the other documents couldn't? Sympathy?
> 
> I'm seeing another bank on the horizon.


A compañero provides the bank with a person that would know how to contact you in case that the bank could not get in touch with you with the info you provided. Bancomer asked for a compañero when I opened my account last year. They also asked for the same items that HSBC asked for. USA banks also often ask for a person not a member of your immediate family for the same reason. For Bancomer, I gave them the name of my brother-in-law.


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## joaquinx

michmex said:


> A compañero provides the bank with a person that would know how to contact you in case that the bank could not get in touch with you with the info you provided. Bancomer asked for a compañero when I opened my account last year. They also asked for the same items that HSBC asked for. USA banks also often ask for a person not a member of your immediate family for the same reason. For Bancomer, I gave them the name of my brother-in-law.


I agree that when you open an account as reference should be provided for emergencies; however, we are talking about eight years into the account and the simple act of turning in a one page form. 

Others that I've talked to said that they either mailed in the form to their branch or walked in a handed it to the agent. To me, it seems like they were making up the requirements as the day progressed. First asking me for my passport and comprobante domicilio (why this after eight years?) and on the second visit asking for a compañero. I was waiting them to ask for my _brazo izquierdo_.


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## coondawg

Just maybe the person who first opened your account did a poor job of collecting needed info and this person is trying to bring your account up to par. Just sayin'.


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## joaquinx

coondawg said:


> Just maybe the person who first opened your account did a poor job of collecting needed info and this person is trying to bring your account up to par. Just sayin'.


I doubt that, since the person who asked me for the compañero was a receptionist and not an agent. She did ask an agent, but there was no computer lookup. Lastly, I have had contact with the agents at this branch over the years without any of them asking for this information.

What does "Just sayin'" mean anyway?


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## TundraGreen

joaquinx said:


> …What does "Just sayin'" mean anyway?


According to the Urban Dictionary, _just saying_ is "a phrase used to indicate that we refuse to defend a claim we've made---in other words, that we refuse to offer reasons that what we've said is true".

It seems to me that people use it when they want to make a comment but soften it by acting as if they don't really mean it, when in fact, they do. 

I think, in this thread, it was used more in the sense of the Urban Dictionary. But my impression is that it is more often in the sense that I gave.


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## joaquinx

TundraGreen said:


> According to the Urban Dictionary, _just saying_ is "a phrase used to indicate that we refuse to defend a claim we've made---in other words, that we refuse to offer reasons that what we've said is true".
> 
> It seems to me that people use it when they want to make a comment but soften it by acting as if they don't really mean it, when in fact, they do.
> 
> I think, in this thread, it was used more in the sense of the Urban Dictionary. But my impression is that it is more often in the sense that I gave.


Ok. So I can say something or make a claim and then absolve myself of responsibility for my opinion.


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## lagoloo

It is an attempt to absolve oneself from taking responsibility for what could be a mere rumor or otherwise unsubstantiated material. "I've heard, but can't prove" etc. would probably be a better approach, IMHO.


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## Isla Verde

joaquinx said:


> Ok. So I can say something or make a claim and then absolve myself of responsibility for my opinion.


Exactly!


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## mr_manny

Reminds me of that other saying *"My Bad"*.

I don't know why, but this saying irritates me...

Thank Goodness they don't have an equivalent saying in Spanish


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## Isla Verde

mr_manny said:


> Reminds me of that other saying *"My Bad"*.
> 
> I don't know why, but this saying irritates me...
> 
> Thank Goodness they don't have an equivalent saying in Spanish


It irritates me too. Whenever I hear it spoken or see it written, I think, "my bad what?"


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## joaquinx

Very similar to the phrase "basically", as in "basically he is a good person." Well, he is a good person or he isn't. "Basically" says to me that someone expresses an opinion yet has an exit door just in case the person did something that wasn't good. If the person has a public opinion that he is "good", then the statement stands as truth. However, if there is something horrid to be found in this persons past, then the "exit" option is used.


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## lagoloo

joaquinx said:


> Very similar to the phrase "basically", as in "basically he is a good person." Well, he is a good person or he isn't. "Basically" says to me that someone expresses an opinion yet has an exit door just in case the person did something that wasn't good. If the person has a public opinion that he is "good", then the statement stands as truth. However, if there is something horrid to be found in this persons past, then the "exit" option is used.


I have some reservations on that one. I've known some folks who are, "basically", as in all the important stuff like honesty and loyalty, "good" but are crusty to deal with or have little annoying habits. So, "basically good" probably fits sometimes.

My pet peeves include "just sayin'", "my bad" along with the winner: "whatever", which usually means that the other person thinks your opinion or suggestion is idiotic, but they don't have the stones to have an open conflict to change things.


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## chicois8

Lately people seem to start every sentence with : SO..........


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## coondawg

joaquinx said:


> What does "Just sayin'" mean anyway?


My use in this post means that here is a possibility I am offering to you that you might consider. Whether you agree with it or not, I really don't care one way or the other.


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## joaquinx

coondawg said:


> My use in this post means that here is a possibility I am offering to you that you might consider. Whether you agree with it or not, I really don't care one way or the other.


Yet, I really care about what you say. Just sayin'


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## coondawg

One of us doesn't understand the usage.


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## RVGRINGO

Ghetto-speak in both cases. It should stay there.


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## coondawg

What does Ghetto - speak mean?


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## wonderphil

chicois8 said:


> I still can not figure out the advantages for a US citizen to have a Mexican bank account with all their fees and taxes if you deposit too much money in a month...I have 3 different ATM cards that are fee free or fee reimbursed, ( Citi-Schwab-Cap 360 ) I can withdrawal $5000 USD a day from the ATM's.....In December I pay my yearly property taxes, In January I pay my yearly water bill and I always have a reserve credit in my CFE account.
> 
> So fellow expats what are the advantages???????


I use it to pay my monthly condo maintenance fees and any other bills I am allowed to pay on line. I am talking about online banking and being able to pay the bills when I am in the USA. I have paid my CFE bills this way. I also usually do what you do and just leave a large deposit on my CFE bill when I leave Mexico and so the bill is zero when I am gone. In the recent year since the peso declined vs the USD. I would have been far better off just paying the condo fees six months or so in advance. I also have several no fee ATM cards that I use to get money to deposit in the Mexican bank. If they ever got lost or compromised for some reason I think of the Mexican bank stuffed with a good deal of cash as a big money battery for use in Mexico. It is another safety net to combat the fear of running out of money. If I say it gives me more peace of mind then that is good enough for me another reason to do it. My bank trust is held at that bank also. 

Anther thing, If I pay my Telmex bill from a Mexican bank I do not get ripped off on the exchange rate by them. So far I have not been able to pay them from a Mexican bank maybe because they have my address in the USA. They apparently want me to pay on the Telmex USA web site when they rip me off on transaction fees and poor exchange rates.


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