checking accounts

I"m interested in hearing what others' experiences are. It seems that most transactions are made in cash in Mexico. Do you find it necessary to have a Mexican checking account? We met with friends this weekend that have one and then realized the check has to be written in Spanish (of which they only speak a little) and apparently it cannot have any mistakes! I rarely write checks in the states any more.


Input is appreciated. Gracias.

Checks are a hassle and not worth the trouble, open a savings account with debit card.

Intercasa wrote:Checks are a hassle and not worth the trouble, open a savings account with debit card.

Thanks, BTW we gave your firm's info to our friends.

I agree. Savings account OK, checking account NO.
More thoughts here: http://rollybrook.com/money.htm

Thank you so much, Rolly - I forwarded that information to my husband and bookmarked the page.

We thought we would have to open a checking / savings account when we first came down, but after inquiring why we needed one, we found we didn't. North American bank card & ATM gets the job done. FWIW

Rolly wrote:I agree. Savings account OK, checking account NO.
More thoughts here: http://rollybrook.com/money.htm

Thanks Rolly - appreciate the link.

Merry

Wouldn't be without a checking account.

I stopped writing checks in the US about 10 years ago, now I only own a "checking account" because the name has not kept up with "debit account."

Merry

Checking accounts are totally unneccessary in Mexico. It's a cash society and no one wants checks.

seisdedos wrote:Wouldn't be without a checking account.

I agree. Too many businesses rely on them and don't want to pay above the odds for credit cards. We probably write about 20 a year.

E-raq wrote:

seisdedos wrote:Wouldn't be without a checking account.

I agree. Too many businesses rely on them and don't want to pay above the odds for credit cards. We probably write about 20 a year.

WOW!!! Who do you write checks to???

I write 12 checks a year to my Property Manager.

oh I might add, they are us checks.

joec wrote:

E-raq wrote:

seisdedos wrote:Wouldn't be without a checking account.

I agree. Too many businesses rely on them and don't want to pay above the odds for credit cards. We probably write about 20 a year.

WOW!!! Who do you write checks to???

Doctors, Placencia, etc.

We have a savings account at Bancomer and a checking account at Banamex both of which we use for similar services. The last time I wrote a check on the Banamex account, they returned the check for "irregular signature" - an absurd proposition out of the question in the U.S or France Since that sorry and needlesly embarrasing episode a couple of years ago, all banking transactions we have undertaken are done so through other measures including domestic electronic funds transfers. We pay all service providers and merchants in cash or by the use of debit card. Chacks are an unecessary and anachronistic form of funds tranfers in Mexico. Cah or debit cards are always sufficient and, for recurring payments through our Mexican bank accounts, electronic funds transfers are far more efficient. After writing an old-fashioned personal check here in Mexico to any service provider or merchant, go crank up the Model" "T and drive off up Route 66 to the nearest Wigwam Burger outlet for a Gresaeburger circa 1947.

hound dog wrote:We have a savings account at Bancomer and a checking account at Banamex both of which we use for similar services. The last time I wrote a check on the Banamex account, they returned the check for "irregular signature" - an absurd proposition out of the question in the U.S or France Since that sorry and needlesly embarrasing episode a couple of years ago, all banking transactions we have undertaken are done so through other measures including domestic electronic funds transfers. We pay all service providers and merchants in cash or by the use of debit card. Chacks are an unecessary and anachronistic form of funds tranfers in Mexico. Cah or debit cards are always sufficient and, for recurring payments through our Mexican bank accounts, electronic funds transfers are far more efficient. After writing an old-fashioned personal check here in Mexico to any service provider or merchant, go crank up the Model" "T and drive off up Route 66 to the nearest Wigwam Burger outlet for a Gresaeburger circa 1947.

Just sayin' Dawg, you want to pay a premium for electronic funds transfer, that's your business. We use cheques and have only once had one returned due to some stupid irregularity. Everyone just laughed. Our cheques are free on both accounts, Canada and here.

If you open an account at Intercam, no charge, you can write your check on your US account, they can issue a check in pesos to anyone you designate. Takes a couple hours for this service, but still no charge.

Checking account needed if you are building a house. Contracters, Maestros, material suppliers probably do not accepy credit/debit cards