Official Rosarito Thread

[boliver]

Originally Posted by rook3poker

Just curious... How many bank accounts do most of you keep going? Is there a specific way you've found to balance & benefit all your different budgets & expenses without crossing money or mingling profits. Also, to individuals with backers... Do they transfer money to you, your MB account, the sites themselves, etc? How quickly can you return monthly interests to them with the least amount of fees... I am still researching all options, but figured ask those that are making it work. Thank You.

Also curious... Any of these Mexican banks have online banking for between accounts. What type of fees may apply there? Those with paperwork & important documents (say passport); do you get lock/security boxes at the banks or are there private businesses or options for "security" purposes? Again, Thank You kindly...

i haven't talked to anyone that is 100% set up in every way, but here's some input:

Schwab bank account (standard for most travelling poker players) = no currency conversion fees or atm fees worldwide. mobile banking so you can deposit checks. This is my 'middle man' account, and also my go to when i travel, as it avoids all vigs.

Also have another US account for paying life bills - mortgage, loan payments, insurance, etc.

Mexican peso account. I think USD would save me on some currency conversion fees...but not positive about fees through schwab. possibly only the wire fee but no peso --> $ conversion %. I try to use this for living expenses in mexico, and paying for everything in peso's prob saves 6-7% as well...as exchange rate is ~13-1 but most places are using 12-1.

haven't gotten checks from my mexico bank yet, but once I have them I should be able to cashout from stars --> MB --> mexi bank. write myself a check and mobile deposit that into schwab......xfer $ from schwab to normal US account.

Most stakes afaik do stars xfers....and other options when the 10 or 20k monthly limit is reached (paypal, swap for other euro sites, MB, BofA, etc).

I haven't set up online banking yet...on my to-do list but I hate talking on the phone in spanish. Easy enough to setup...call em to get a special PIN or go to the bank and have em do it for you (just don't think i've had a bank trip take less than an hour, so I do anything I can to avoid going).

most ppl just put passports in a drawer at home, but if u wanna get a safety deposit box for sure you could find one.

[rook3poker]

Originally Posted by boliver

i haven't talked to anyone that is 100% set up in every way, but here's some input:

Schwab bank account (standard for most travelling poker players) = no currency conversion fees or atm fees worldwide. mobile banking so you can deposit checks. This is my 'middle man' account, and also my go to when i travel, as it avoids all vigs.

Also have another US account for paying life bills - mortgage, loan payments, insurance, etc.

Mexican peso account. I think USD would save me on some currency conversion fees...but not positive about fees through schwab. possibly only the wire fee but no peso --> $ conversion %. I try to use this for living expenses in mexico, and paying for everything in peso's prob saves 6-7% as well...as exchange rate is ~13-1 but most places are using 12-1.

haven't gotten checks from my mexico bank yet, but once I have them I should be able to cashout from stars --> MB --> mexi bank. write myself a check and mobile deposit that into schwab......xfer $ from schwab to normal US account.

Most stakes afaik do stars xfers....and other options when the 10 or 20k monthly limit is reached (paypal, swap for other euro sites, MB, BofA, etc).

I haven't set up online banking yet...on my to-do list but I hate talking on the phone in spanish. Easy enough to setup...call em to get a special PIN or go to the bank and have em do it for you (just don't think i've had a bank trip take less than an hour, so I do anything I can to avoid going).

most ppl just put passports in a drawer at home, but if u wanna get a safety deposit box for sure you could find one.

Absolutely Awesome... Thank You so very very kindly for the time & info!!! Huge help. Cervezas on me upon arrival...

Most others doing same/similar?

[rook3poker]

Method of/for suggestion? With a cash backer only... Is it better for him to wire to "middle man" account or a Mexican USD/Pesos account? Especially based on the account that will receive returned funds & be forwarded back to him. (Note funds would go into my/separate personal account as well.) Maybe even form some version of escrow? Basically trying to establish a smooth regiment for deposits & returns with clean records for all tax purposes.

At a later date if I take on additional investors or sell share %'s, should a new account be formed? Or what is the best way to play this... I'm trying to draw/work this out on paper, but uncertain of best methods or what is available as far a Mexican bank's rules & regulations. Obviously; I don't want any red flags or jail time. *laughs*

[Groggy]

Why would you be unable to transfer directly from Stars to a Mexican bank?

[boliver]

Originally Posted by Groggy

Why would you be unable to transfer directly from Stars to a Mexican bank?

forgot about that. yes, you can. shaniac did and paid the fees...they were possibly outrageous but i forget what he said

[shaniac]

Originally Posted by Groggy

Why would you be unable to transfer directly from Stars to a Mexican bank?

Yeah I did direct wire from Stars to Santander Peso account and it was like 4-5% vig iirc.

[Groggy]

Do any US players know if you have to pay income tax on bank transfers from Mexico?

[shaniac]

Originally Posted by Groggy

Do any US players know if you have to pay income tax on bank transfers from Mexico?

Don't really understand the question since AFAIK you have to pay income tax on all of your income, regardless of where it originates. There is no special tax on bank transfers from Mexico though...

[bustuw72]

Originally Posted by MellowYellow

Does anyone down there have a USD bank account? And if so was it hard to setup moneybookers with no mail verification possible? Moneybookers was a bitch to open for me in Canada so not looking forward to doing it again, but with bills remaining in the US in USD MBers is the only way I know of to get USD from stars... Unless there are fair money converting places. The ones up here for USD to CAD werent very good rates.

so shocking when i hear this about MB. They are by far the easiest to work with if you call them. Use skype and get a 10$ credit to make calls. MB will give you many alternative methods to verify other than the ones you see on the site.

[Gramps]

The check deposit by phone from abroad idea is brilliant.

[MellowYellow]

Originally Posted by bustuw72

so shocking when i hear this about MB. They are by far the easiest to work with if you call them. Use skype and get a 10$ credit to make calls. MB will give you many alternative methods to verify other than the ones you see on the site.

Yeah I actually did do that. I kept waking up like 20 minutes after their office hours tho lol I was on THE worst schedule to get ahold of them, but you are right their phone service is millions of times better than their online service. I guess I will look into getting a new MBers to USD account in Mexico, I just wanted to hold off closing my USD account here in canada until hearing from someone that got it opened down there.

I figured at a last resort I could just keep the account here and write checks to myself, deposit them in my american account and get it that way.

[bustuw72]

For those of you who were curious about what allinthedark about banana's. Here is a thread dedicated to the topic. Sorry for the derail.

http://forumserver.twoplustwo.com/61...citing-348862/

[rook3poker]

Hahhaha... Major derail! (Kidding.) 123 pages of bananas? Really... That's pure grapefruit!!!

I'll stick to my fishing... Good fishing in Mexico?

http://www.youtube.com/watch?v=TaHMG_SvUkw

[Groggy]

Is Rosarito preferable over living in Tijuana?

[AllInNTheDark]

Originally Posted by Groggy

Is Rosarito preferable over living in Tijuana?

si, senor

Does anyone know where there's a Western Union in Rosarito?