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Old 06-09-2011, 12:20 PM   #26
ColdChicken
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Re: **Banking in Mexico**

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Originally Posted by debo1988 View Post
If I don't plan on being in Mexico for longer than 6 months I still need a fm3 to open a MX bank account? Reading some conflicting things online.
I had the same problem, some people said it depends on the bank, but who knows???
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Old 06-11-2011, 01:01 AM   #27
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Opening a Mexico Bank Account: PART 1/4

Okay here is some content:

Spurred on by a post by trishthefish about how she got a bank account simply and without any FM3, I go into the bank today after finally getting my internet* hooked up. I visit Scotiabank (Canadian), Santander (part-owned by Bank of America), and Bancomer (owned by BBVA of Spain) and am told by all three that I need a utility bill that is NOT my cable bill. It has to be telephone (TELNET), water, gas or electric (CFE). These are difficult to get in your name if you don't own the unit. Fortunately, they don't have to be in your name! Basically I am told by all 3 banks to get a copy of the utility bill of where I am staying with the landlord's name on it and come back... except Scotiabank, who explicitly said the FM3 was mandatory. However the girl at Scotiabank was the cutest bank worker of the 3, so I am going to go back there anyways.



* I should note Google is not nearly as deadly outside of the US. You can't just type in "banco" and have all the banks on the street pop up. Very annoying.

Last edited by Cafe Noir; 06-11-2011 at 01:19 AM.
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Old 06-11-2011, 03:49 AM   #28
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Opening a Mexico Bank Account: PART 2/4

UPDATE: I now have the electricity bill. Tomorrow all your questions will be answered.
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Old 06-11-2011, 06:51 AM   #29
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Re: **Banking in Mexico**

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Old 06-11-2011, 10:00 AM   #30
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Re: **Banking in Mexico**

Going to Mex tomorrow, will report my findings w/ the local banks sometime next week. Will not have an FM3 but will have a lease.
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Old 06-11-2011, 04:31 PM   #31
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Opening a Mexico Bank Account: PART 2.5/4

I just went to Santander and Banamex (Citigroup). They explained that, understandably, the utility bill must be from within the last 3 months. The CFE bill I was given is from December ... and Scotiabank was closed.
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Old 06-12-2011, 06:46 PM   #32
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Re: **Banking in Mexico**

I have my roll on FTP and am considering moving to MX just for withdrawal purposes not to play. I am planning to find a place in Cabo, mostly given I dont want to visit the more dangerous border cities. What do you suggest? Can I just find a time share unit for a couple weeks or so?

Also, to get a Bank account if Im only planning on staying for a few weeks do I need a FM3? I heard both yes and no. Can I choose a bank that has US partners that will allow me to access my account funds from the US once FTP transfers the funds?

In regards to a utility bill for the bank, will a cell phone suffice? Ive heard not. Ive heard I need a real utiltiy bill but it doesnt have to be in my name. So if i just get a utiltiy bill from the Time Share corp or the like will that work? That might be difficult if its for a large complex.

Also once I get my address changed with FTP, what withdrawal options will I have? Direct Bank transfers? or wires? Or must I sign up with a 3rd part entity like Moneybookers or Neteller or VISA etc. If so can you explain this process.

How long do you think I would need to stay in MX total to accomplish all of this.

Your help will be very much appreciated.
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Old 06-12-2011, 11:24 PM   #33
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Re: **Banking in Mexico**

/\
|
|

I'm in the same spot, but need more reassurance from 1 person. Can some one tell me how long you usually have to rent from a landlord?
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Old 06-13-2011, 12:39 AM   #34
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Re: **Banking in Mexico**

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Originally Posted by ColdChicken View Post
[...] Can some one tell me how long you usually have to rent from a landlord?
In popular vacation destinations it's easy to rent by the day, week, month or year. If you rent by the month it's about 150% higher than if you sign a year lease. For example I looked at a couple places that were $500/mo with a year lease, but $750/mo month-to-month (it's worth noting we're now entering peak season so prices are higher).
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Old 06-13-2011, 02:34 PM   #35
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Re: **Banking in Mexico**

This is for anyone who knows or has already moved to Mexico: After talking to FTP I know you have to make a deposit first before you can begin cashing out money. I am planning on going to Tijuana Thursday to set up bank account and stay with one of my friends who lives in TJ and is Mexican. Does anyone have any contact information for Bancomer (bank in MX where you do not have to have a fm3 just a tourist visa to set up an account). A phone number would work best where you can call for free from US to MX but an email would be great as well. Looking at their website right now and can't figure out which email to use. Thanks for the help.
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Old 06-13-2011, 08:33 PM   #36
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Opening a Mexico Bank Account: PART 3/4

BRAG: OPENED ACCOUNT WITHOUT FM3

I went into Banamex and was told that I needed my actual passport and my original utility bill, which is retarded because they're just going to make a copy of it that looks exactly like the copy I had with me. As an aside the lady also thought I needed an FM2/FM3 but then asked around and realized I didn't.

So I went into Santander and was literally only asked for my California drivers license and the copy of the utility bill (it may be noted this bill didn't even have my name on it). I came prepared with my lease agreement, a reference letter from Wells Fargo, my passport and passport card, my FMM, etc. I needed none of that. This took me a week, but I could easily see you doing it in a couple of days if you know exactly what you need and where to go and don't wake up past noon (los bancos cierran a las cuatro).

Here are at least three banks not requiring an FM3:
Santander - drivers license (or an ID with your photo & signature on it) & copy of utility bill only
Banamex (citibank)- passport, original utility bill, and FMM
Bancomer (BBVA)

I can speak Spanish well enough to get by, but I'm aware some of you speak zero. Whether there is an employee that speaks English well is fairly hit-or-miss, but you don't need to talk much; just hand them the documents. Santander and Banamex both have online banking in English. Good luck you guys.

Last edited by Cafe Noir; 06-13-2011 at 08:44 PM.
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Old 06-13-2011, 08:47 PM   #37
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Re: **Banking in Mexico**

Thanks for the post Cafe. Really helpful. Are you playing now on FTP? and were you able to cashout once you are able to play on FTP?
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Old 06-13-2011, 09:05 PM   #38
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Re: **Banking in Mexico**

^ I posted immediately after getting home from the bank. I won't know until at least tomorrow. As pointed out in the post, waking up earlier will give you more time to do things you didn't plan on. For example the front office where I planned to scan my documents is now closed so I have to wait until tomorrow. FWIW I am planning to use my cable bill for the requirement of utility bill with your name and address. As pointed out in another thread, you don't need to wait until you get your monthly bill; just walk in and make a payment and get a receipt as soon as you get the chance. In fact, you don't even need to wait until it's hooked up. You just go in and pay for them to install your cable (which takes 3-5 days and you apparently can't expedite by offering to pay them more) and immediately get a receipt.

With these two things in mind, a cable internet bill you can get immediately and bank account you can get within a couple days, you may be able to get access to your account extremely quickly. I will make sure to update when I am playing on Stars to confirm that this in fact the case.
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Old 06-13-2011, 09:06 PM   #39
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Re: Opening a Mexico Bank Account: PART 3/4

Quote:
Originally Posted by Cafe Noir View Post
BRAG: OPENED ACCOUNT WITHOUT FM3

I went into Banamex and was told that I needed my actual passport and my original utility bill, which is retarded because they're just going to make a copy of it that looks exactly like the copy I had with me. As an aside the lady also thought I needed an FM2/FM3 but then asked around and realized I didn't.

So I went into Santander and was literally only asked for my California drivers license and the copy of the utility bill (it may be noted this bill didn't even have my name on it). I came prepared with my lease agreement, a reference letter from Wells Fargo, my passport and passport card, my FMM, etc. I needed none of that. This took me a week, but I could easily see you doing it in a couple of days if you know exactly what you need and where to go and don't wake up past noon (los bancos cierran a las cuatro).

Here are at least three banks not requiring an FM3:
Santander - drivers license (or an ID with your photo & signature on it) & copy of utility bill only
Banamex (citibank)- passport, original utility bill, and FMM
Bancomer (BBVA)

I can speak Spanish well enough to get by, but I'm aware some of you speak zero. Whether there is an employee that speaks English well is fairly hit-or-miss, but you don't need to talk much; just hand them the documents. Santander and Banamex both have online banking in English. Good luck you guys.
What City?

What documentation are you sending to FTP for location change?

What documentation does Moneybookers require to setup the bank account link?

Please updates with speeds on all transactions

You said it could take a couple days. If I had the utility bill and lease agreement in hand would it take more than 1 day?

One more semi related question. Once I get FTP to process my location change and initiate a withdrawal. If I need to contact moneybookers or FTP etc will I be able to do that from within the states on my email? Or is me contacting them with a US IP address a problem?
Basically I plan to stay in MX as little as possible while trying to get my money off FTP.

Last edited by HustlerLA; 06-13-2011 at 09:21 PM.
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Old 06-13-2011, 09:21 PM   #40
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Re: Opening a Mexico Bank Account: PART 3/4

Quote:
Originally Posted by HustlerLA View Post
What City?
Rosarito. Because it's close to the border, but without border crime

What documentation are you sending to FTP for location change?
1. California drivers license 2. cablemax bill 3. bank account info sheet (it's not really a 'statement' but it has my name, address and account number and should be fine)

Please updates with speeds on all transactions

One more semi related question. Once I get FTP to process my location change and initiate a withdrawal. If I need to contact moneybookers or FTP etc will I be able to do that from within the states on my email? Or is me contacting them with a US IP address a problem?
Basically I plan to stay in MX as little as possible while trying to get my money off FTP.

Unsure whether you can withdraw on FTP from a US IP. The idea scares me. I am not going to be connecting to any of these sites from a US IP at any point. Just to give you an idea, try going to moneybookers.com on your US IP. The site you get is much different than the real moneybookers site (basically a site to make payments, not send/receive money).. so your IP is a problem
^

Last edited by Cafe Noir; 06-13-2011 at 09:36 PM.
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Old 06-13-2011, 09:32 PM   #41
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Re: Opening a Mexico Bank Account: PART 3/4

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You said it could take a couple days. If I had the utility bill and lease agreement in hand would it take more than 1 day?
I think it's worth making a separate post to address this, because without an explanation the whole thing about a utility bill makes no sense. A real estate agent told me that the point of the utility bill requirement for banks is instituted by the government, not them. The banks don't care, they want you to open an account any way you can. The Mexican government, most likely in an effort to curb money laundering, instituted a regulation such that to open a bank account you must have a utility bill (water, electricity, land line telephone, gas). By doing it like this, the idea is to make it difficult for anyone but long-term renters or property owners to open bank accounts.

However, in a bit of glaring government incompetence, you are not required to actually have your name on the account. So you can walk in with anyone's utility bill and open a bank account. It's completely ridiculous, but you now benefit from this loophole. So like I said, I didn't need my lease agreement to show that I'm living at that address, even though it's entirely silly to ask for one and not the other.

Last edited by Cafe Noir; 06-13-2011 at 09:39 PM.
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Old 06-13-2011, 09:45 PM   #42
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Re: **Banking in Mexico**

Got an account opened at Bancomer this morning. Went with my landlord, a utility in her name, my passport/FMM and got a checking account opened up within 15 minutes. The lady spoke no english and I wasn't quite proficient enough to get a voided check or some piece of stationery that would work as a bank statement to send to the poker sites so don't have that done yet. I was able to setup online banking and I think I am just going to make a couple of transactions, print out the online statement and see if someone at the bank will stamp it or sign it for me or something.
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Old 06-13-2011, 09:51 PM   #43
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Re: Opening a Mexico Bank Account: PART 3/4

Quote:
Originally Posted by Cafe Noir View Post
I think it's worth making a separate post to address this, because without an explanation the whole thing about a utility bill makes no sense. A real estate agent told me that the point of the utility bill requirement for banks is instituted by the government, not them. The banks don't care, they want you to open an account any way you can. The Mexican government, most likely in an effort to curb money laundering, instituted a regulation such that to open a bank account you must have a utility bill (water, electricity, land line telephone, gas). By doing it like this, the idea is to make it difficult for anyone but long-term renters or property owners to open bank accounts.

However, in a bit of glaring government incompetence, you are not required to actually have your name on the account. So you can walk in with anyone's utility bill and open a bank account. It's completely ridiculous, but you now benefit from this loophole. So like I said, I didn't need my lease agreement to show that I'm living at that address, even though it's entirely silly to ask for one and not the other.
So if I understand correctly if I get my landlord to send me the utility bill before I arrive in his name, I should be able to get a bank account in 1 day, correct?
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Old 06-14-2011, 01:41 AM   #44
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Re: **Banking in Mexico**

that's some good news guys...
congrats..

when someone makes a withdrawal can you let the thread know?
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Old 06-14-2011, 03:11 PM   #45
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Re: **Banking in Mexico**

I'm planning on moving to Akumal, Mexico in early July, so hopefully I can learn from this thread, and then tell everyone how it goes.
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Old 06-14-2011, 06:26 PM   #46
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Re: Opening a Mexico Bank Account: PART 3/4

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Originally Posted by HustlerLA View Post
So if I understand correctly if I get my landlord to send me the utility bill before I arrive in his name, I should be able to get a bank account in 1 day, correct?
Remember to bring $1000 USD
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Old 06-15-2011, 12:47 PM   #47
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Re: **Banking in Mexico**

just got off the phone w/ a real estate agent in playa who said the FM2/3 status has changed as of last week... supposedly, to make it easier to move there... he said that you could walk into _____ and get one with only your passport/visa and walk out 20m later with one... fwiw
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Old 06-15-2011, 06:20 PM   #48
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Re: **Banking in Mexico**

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Originally Posted by Ricepaw1226 View Post
just got off the phone w/ a real estate agent in playa who said the FM2/3 status has changed as of last week... supposedly, to make it easier to move there... he said that you could walk into _____ and get one with only your passport/visa and walk out 20m later with one... fwiw
WOW, really? Does anyone have more details on this? What types of places do this?
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Old 06-15-2011, 08:33 PM   #49
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Re: **Banking in Mexico**

Bancomer for sure don't need a fm3 just tourist visa like 25 bucks
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Old 06-17-2011, 01:57 AM   #50
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Re: **Banking in Mexico**

On a side note - does anyone living in Mexico now have an internet card? (Verizon, etc.) Going to spend some time there in the touristy spots over the next 12 months and want to invest in a good backup, wondering what's the most reliable option.
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