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Banks to use

Post by sallys other sister on Mon Feb 20, 2017 9:41 pm

When you moved to Mexico I assumed you kept your bank you had in the States or Canada, did you get a bank in Mexico and have some of your money transferred to a Mexico bank. What was the name of the bank you prefer and was not a hassle to get started over the net and are you happy with your decision. I had a bank account years ago that was in California and was a Mexican bank, can't remember the name, Was very pleased with it. Any recommendations to what bank you would start with. Would like to start one with no monthly fee and no minimum balance One other thing I think I would like to have a bank that has banks all over Mexico. I remember there was a bank in Chapala across from the Plaza but it seem to me that they wasn't in all the major cities in Mexico. Thanks SOS
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Re: Banks to use

Post by Zedinmexico on Tue Feb 21, 2017 8:03 am

We use US banks and credit unions in US and Mexican Bank (Bancomer) in Mexico. To move money down we write a US check and deposit into our Bancomer account and it clears within a week these days. Yes Bancomer does have a 8000P minimum without fees and some people have had problems but I have not but I watch them like a Hawk. They have a very good travel policy in Latin America.  So when in US use US banks/CU. When in Mexico and south I use my Bancomer cards and such.  Much easier than trying to set up to use cards from USA in Colombia for example. As much as we all hate BOA in US they do have good easy to understand travel policies.  Tried using a credit union debit card once in Jamaica once and machine ate card and yes we had told them where we were going to be.  BOA card no problem other than fees and such but it worked.  Always have a backup card.  

Hope this helps

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Re: Banks to use

Post by David on Tue Feb 21, 2017 10:02 am

I prefer Banco Multiva. You will not be able to open a Mexican bank account via the net, you must do it in person and present your visa, passport, and proof of address.
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Re: Banks to use

Post by zenwoodle on Tue Feb 21, 2017 10:22 am

I have used Bancomer for the last 5 years with no problems and their facilities have been significantly upgraded in that time.
David is correct about the requirements for opening an account, but, as with all things in Mexico, I would add patience to the list. Beer Beer
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Re: Banks to use

Post by Bajabrady on Tue Feb 21, 2017 10:32 am

I'm also looking for a hassle free bank. I'm trying to save up for a purchase and don't like having too much cash under my mattress. Does multiva report money to the states? What's the minimum to open and the max I can withdraw in a day from the teller? Is multiva easy to close once I'm done with my savings and withdraw? This would be a strictly me depositing cash and withdrawing. I'd probably keep it open just so I can keep large sums when I need to start saving again

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Re: Banks to use

Post by David on Tue Feb 21, 2017 10:57 am

As far as I know Banco Multiva does not report to the USA. The options for accounts are several, it's best to discuss with the manager, Clara, to see which is best for you.
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Re: Banks to use

Post by Bajabrady on Tue Feb 21, 2017 11:00 am

Multiva across from farmacia Guadalajara and a few doors down from the post office?

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Re: Banks to use

Post by David on Tue Feb 21, 2017 11:03 am

Yes.
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Re: Banks to use

Post by Bajabrady on Tue Feb 21, 2017 11:04 am

Cool deal. I'll walk over today. Thanks!

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Re: Banks to use

Post by slainte39 on Tue Feb 21, 2017 11:32 am

David wrote:As far as I know Banco Multiva does not report to the USA. The options for accounts are several, it's best to discuss with the manager, Clara, to see which is best for you.


Another vote for Multiva....Mexican owned and not international like most of the other big bank ownerships.
Multiva does not report anything to the US government, that is the responsibility of the Mexican government if you are a "US person".

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Re: Banks to use

Post by Canada_Mike on Tue Feb 21, 2017 2:40 pm

Their not being international is why I use Multiva.
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Re: Banks to use

Post by Trailrunner on Tue Feb 21, 2017 4:11 pm

Yep, Multiva here too.
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Re: Banks to use

Post by Zedinmexico on Tue Feb 21, 2017 4:31 pm

New rule must be Perm. or Temp.no more bank accounts with tourist visa.

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Re: Banks to use

Post by Bajabrady on Tue Feb 21, 2017 4:34 pm

Never made it over. So I can leave the passport at home and signup with my perm card and Jalisco DL? I don't want to add confusion to the mix.

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Re: Banks to use

Post by David on Tue Feb 21, 2017 6:41 pm

You will need your passport and proof of address e.g. utility bill too.
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Re: Banks to use

Post by Canada_Mike on Tue Feb 21, 2017 7:00 pm

Es Mexico, you need everything all the time.
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Proof of address

Post by TooMuchCoffee on Thu Feb 23, 2017 11:45 am

David wrote:I prefer Banco Multiva.  You will not be able to open a Mexican bank account via the net, you must do it in person and present your visa, passport, and proof of address.  

I'm renting, and all the utility bills are in my landlord's name. Any suggestions on proof of address?

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Re: Banks to use

Post by SunshineyDay on Thu Feb 23, 2017 11:54 am

copy of lease

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Re: Banks to use

Post by slainte39 on Thu Feb 23, 2017 11:55 am

TooMuchCoffee wrote:
David wrote:I prefer Banco Multiva.  You will not be able to open a Mexican bank account via the net, you must do it in person and present your visa, passport, and proof of address.  

I'm renting, and all the utility bills are in my landlord's name.  Any suggestions on proof of address?

A copy of your lease?
Not every instance requires the utility to be in your name, just the correct address of your domicile.
There used to be a paper/function that could be obtained at the municipal office that would suffice for proof of domicile.

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Re: Banks to use

Post by Lady Otter Latté on Thu Feb 23, 2017 12:56 pm

I got a drivers licence with a copy of my lease and the CFE bill in my landlord's name.
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Re: Banks to use

Post by Bajabrady on Thu Feb 23, 2017 1:02 pm

Yeah. There's a paper you can get at city hall in Chapala that certifies you live at that address. You need your perm, temp or your FMM. Passport. Lease agreement and utility bill. Telmex or CFI. I forget how much it costs. But even when you have that letter. You'll probably still be asked for proof of residency. Passport. Lease. Utility bill.

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Re: Banks to use

Post by Zedinmexico on Fri Feb 24, 2017 7:26 am

Bancomer now requires a Perm. or Temp visa to open accounts.  Just happened two weeks ago to Canadians here on a tourist visa.  No Go with tourist visa for them. I don't know about the other banks. Something changed I guess kinda like you can't register a car without a resident visa now.  

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Re: Banks to use

Post by cypress on Sun Feb 26, 2017 7:08 am

slainte39 wrote:
David wrote:As far as I know Banco Multiva does not report to the USA. The options for accounts are several, it's best to discuss with the manager, Clara, to see which is best for you.


Another vote for Multiva....Mexican owned and not international like most of the other big bank ownerships.
Multiva does not report anything to the US government, that is the responsibility of the Mexican government if you are a "US person".
I would be reluctant to use a Mexican owned bank.

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Re: Banks to use

Post by David on Sun Feb 26, 2017 9:30 am

YMMV. I won't use any of the "International" banks!
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Re: Banks to use

Post by Zedinmexico on Sun Feb 26, 2017 11:56 am

Bajabrady wrote:Yeah. There's a paper you can get at city hall in Chapala that certifies you live at that address. You need your perm, temp or your FMM. Passport. Lease agreement and utility bill. Telmex or CFI. I forget how much it costs. But even when you have that letter. You'll probably still be asked for proof of residency. Passport. Lease. Utility bill.

Paper is only good for a short period of time like 30 days or something like that but it was good enough to cut over two CFE accounts from our landlords name to ours. We have Perm visas.

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