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Old 07-21-2011, 03:02 PM   #151
jsnipes28
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Re: **Banking in Mexico**

i have neither. one of my friends called and the lady thought that you could do it but i dont know. might be worth opening a citi account to find out.
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Old 07-21-2011, 03:29 PM   #152
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Re: **Banking in Mexico**

had a lot of issues going back to the same branch with my friends who also relocated in openeing an account (both pesos and dollars). so i can confirm that there is a lot of variation from bank to bank and from bank employee to bank employee.

my best advice, dress nice, be friendly, come prepared, and have a reason for wanting the account. also try to diffuse the FM status question

a lot of it is going to come down to luck of the draw
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Old 07-21-2011, 05:05 PM   #153
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Re: **Banking in Mexico**

But, just to confirm, there isn't a problem getting a standard peso acct. and wiring back to a US bank... it just costs more, correct? Also, with everything being wired, you wouldn't even need to go back in the branch once you've acquired the acct., no?

EDIT: advice on diffusing FM status question? What did you tell them you were opening the acct. for?

Last edited by Ricepaw1226; 07-21-2011 at 05:07 PM. Reason: I'll be down there on Monday :O
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Old 07-21-2011, 08:15 PM   #154
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Re: **Banking in Mexico**

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Originally Posted by Ricepaw1226 View Post
But, just to confirm, there isn't a problem getting a standard peso acct. and wiring back to a US bank... it just costs more, correct? Also, with everything being wired, you wouldn't even need to go back in the branch once you've acquired the acct., no?

EDIT: advice on diffusing FM status question? What did you tell them you were opening the acct. for?
ya no problem getting a peso account and just wiring. u just get beat up on xchange twice (from USD in MB or w/e to peso in MX account and back to USD when it leaves). i was told that you have to initiate the wires in person at A branch (not necessarily one you opened account at) -- this was at bancomer. other banks may be different. or if my spanish was better than it is maybe i would have gotten a different response.
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Old 07-21-2011, 09:03 PM   #155
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Re: **Banking in Mexico**

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Originally Posted by jsnipes28 View Post
ya no problem getting a peso account and just wiring. u just get beat up on xchange twice (from USD in MB or w/e to peso in MX account and back to USD when it leaves). i was told that you have to initiate the wires in person at A branch (not necessarily one you opened account at) -- this was at bancomer. other banks may be different. or if my spanish was better than it is maybe i would have gotten a different response.
thanks - this is reassuring.. .

and a quick thanks to everyone itt who has taken the time to help out..
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Old 07-21-2011, 09:46 PM   #156
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Re: **Banking in Mexico**

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Originally Posted by jsnipes28 View Post
ya no problem getting a peso account and just wiring. u just get beat up on xchange twice (from USD in MB or w/e to peso in MX account and back to USD when it leaves). i was told that you have to initiate the wires in person at A branch (not necessarily one you opened account at) -- this was at bancomer. other banks may be different. or if my spanish was better than it is maybe i would have gotten a different response.
What's the status on going from MB -> Mexican Bank account in USD? I'm worried that since the Mexican USD accounts have to be held in another country that MB will not allow them. Anyone have any info on this process?
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Old 07-21-2011, 09:59 PM   #157
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Re: **Banking in Mexico**

i tried to cashout to my mexican bak from moneybookers, but my swift code was 1 digit longer than allowed,

will call customer support and report back

also ty, the BAM card works flawlessly. was without internet for 2 days as they messed up my upgrade, but the aircard didnt drop once
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Old 07-22-2011, 09:52 AM   #158
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Re: **Banking in Mexico**

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What's the status on going from MB -> Mexican Bank account in USD? I'm worried that since the Mexican USD accounts have to be held in another country that MB will not allow them. Anyone have any info on this process?
Ahhh yea that's actually a good point. I forgot but I think Mex usd accounts are located in caymans or something so that could actually be an issue. I have however withdrawn from MB already to my Bancomer peso account with no issues.
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Old 07-22-2011, 11:37 AM   #159
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Re: **Banking in Mexico**

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Ahhh yea that's actually a good point. I forgot but I think Mex usd accounts are located in caymans or something so that could actually be an issue. I have however withdrawn from MB already to my Bancomer peso account with no issues.
Why are you going MB - > Bancomer Peso account instead of wire? Is it to save the wiring fees? Are there any fees in your MB -> Bancomer Peso transactions?

Also, what currency is your MB account in and how does this affect things?
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Old 07-22-2011, 11:59 AM   #160
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Re: **Banking in Mexico**

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Why are you going MB - > Bancomer Peso account instead of wire? Is it to save the wiring fees? Are there any fees in your MB -> Bancomer Peso transactions?

Also, what currency is your MB account in and how does this affect things?
stars doesnt offer wires direct to mexican banks. also, your bank will likely charge a wire fee regardless of who sends it. my MB account is in USD. i detailed the fees for my withdrawal transaction in an earlier post but basically $20-25 USD wire fee + whatever hit you take on the exchange rate.
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Old 07-22-2011, 01:46 PM   #161
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Re: **Banking in Mexico**

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stars doesnt offer wires direct to mexican banks. also, your bank will likely charge a wire fee regardless of who sends it. my MB account is in USD. i detailed the fees for my withdrawal transaction in an earlier post but basically $20-25 USD wire fee + whatever hit you take on the exchange rate.
I can wire directly to my Scotia Peso account, weird.

I have a USD account with Scotia Mex also, but they keep that USD account in Grand Cayman, so that's been a problem for Stars to wire to (also have a EUR account with Monex Mexico, but they keep that account in Germany). If MB can wire money to that Cayman USD account, that would cure all of our problems.

Do you have a USD account at Bancomer? If so, is it held at an offshore bank? I've been told that all Mex banks hold USD/EUR accounts offshore, but if we can find a bank whose wiring instructions don't have a "For Further Credit To" field then we're in business.

I'm not sure why Stars or their processors can't handle that "FFC" field, but it is getting to be very expensive to pay these fx fees.
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Old 07-22-2011, 01:49 PM   #162
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Re: **Banking in Mexico**

i was told that one cannot get a USD account at bancomer (or other santander/bana etc) unless you are in a border state. but you said you are in playa, correct? how did you get a USD account? yea, i wonder if MB could wire to those accounts. it certainly would save a lot of hassle.
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Old 07-22-2011, 02:51 PM   #163
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Re: **Banking in Mexico**

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Originally Posted by jsnipes28 View Post
i was told that one cannot get a USD account at bancomer (or other santander/bana etc) unless you are in a border state. but you said you are in playa, correct? how did you get a USD account? yea, i wonder if MB could wire to those accounts. it certainly would save a lot of hassle.
The "border states" information is actually old. That used to be the case and the Mexican Banks could actually hold USD accounts in those states, but the government changed the laws several years ago.

Now, no banks can hold USD accounts directly, which is why they are quasi in Caymans/Germany/etc. and quasi in Mexico. I can walk in and deposit/withdraw/etc. to my USD account, but I guess it's being held in the Caymans.

You should go to your Bancomer branch and tell them you want a USD account. To open that account is a $5,000USD min, so that may be why a lot of people don't mention it. It is basically an account for people who want to invest and keep their $ in USD.

Anyways, I've been meaning to try Bancomer and some other to see if I can get wiring instructions that don't have the "For Further Credit To" fields or if MB can wire there. It would be great if you to your branch and inquired!
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Old 07-26-2011, 10:14 PM   #164
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Re: **Banking in Mexico**

just got back to chicago from playa... did not like it.

gonna look for a place in toronto/vancouver... fwiw.
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Old 07-27-2011, 03:31 PM   #165
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Re: **Banking in Mexico**

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Originally Posted by The Lipo Fund View Post
i tried to cashout to my mexican bak from moneybookers, but my swift code was 1 digit longer than allowed,

will call customer support and report back

also ty, the BAM card works flawlessly. was without internet for 2 days as they messed up my upgrade, but the aircard didnt drop once
Did you figure out the cashout?
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Old 07-27-2011, 04:02 PM   #166
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Re: **Banking in Mexico**

nope, having to explore other options to get $$$ off
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Old 07-27-2011, 05:17 PM   #167
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Re: **Banking in Mexico**

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nope, having to explore other options to get $$$ off
Hey Lipo,how are you liking Cabo? Would you mind showing pics of your place,how much you're paying etc? I can't decide between Playa Del Carmen/Cancun/Cabo. I'm leaning towards PDC for now, but need to make up my mind before the weekends over.
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Old 07-28-2011, 12:04 AM   #168
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Re: **Banking in Mexico**

liking it but dont feel comfortable with photos

cost of living here is pretty high. if money is at all an issue, playa del carmen is going to be your best bet (assuming what others have said about it are true, seeing as ive never been there myself)

theres too many rich, old, white people here in cabo with yachts to make stuff cheap

im living comfortably and made an easy transition, but i dont feel like im living in the 2nd world, and certainly not paying anything lower than first world prices

prior to black friday i lived in downtown orlando, and it's looking like my monthly expenses will be pretty similar here. though having only been here 2 weeks, it's still hard to estimate perfectly
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Old 07-30-2011, 08:50 PM   #169
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Re: **Banking in Mexico**

Anybody able to get money off poker stars living in Mexico yet?
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Old 08-01-2011, 02:34 AM   #170
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Re: **Banking in Mexico**

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Originally Posted by The Lipo Fund View Post
i tried to cashout to my mexican bak from moneybookers, but my swift code was 1 digit longer than allowed,

will call customer support and report back

also ty, the BAM card works flawlessly. was without internet for 2 days as they messed up my upgrade, but the aircard didnt drop once
What kind of air card do you use? Tried googling BAM air card to no avail.
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Old 08-01-2011, 10:07 AM   #171
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Re: **Banking in Mexico**

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Anybody able to get money off poker stars living in Mexico yet?
Nevermind question answered in earlier posts...
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Old 08-01-2011, 01:30 PM   #172
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Re: **Banking in Mexico**

2 more weeks till the relocation!
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Old 08-01-2011, 06:59 PM   #173
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Re: **Banking in Mexico**

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2 more weeks till the relocation!
Nice I'm planning on leaving this week. Good luck.
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Old 08-02-2011, 12:28 AM   #174
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Re: **Banking in Mexico**

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Nice I'm planning on leaving this week. Good luck.
Where to? Also any1 have any good things to say about banamex?
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Old 08-02-2011, 12:33 AM   #175
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Re: **Banking in Mexico**

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Where to? Also any1 have any good things to say about banamex?
Cabo...and you?
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