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Head's up re: Monex

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Post by gringal on Sat Jun 01, 2019 4:05 pm


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Post by CanuckBob on Sat Jun 01, 2019 4:37 pm

A 28 day cete is paying 8%??? So per annum it is paying 84%????? Not likely.

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Post by slainte39 on Sat Jun 01, 2019 11:34 pm

CanuckBob wrote:A 28 day cete is paying 8%??? So per annum it is paying 84%????? Not likely.

At Intercam (Ajijic), cedes are paying 6.72 net, after taxes, per annum. (not per month or 28 days)

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Post by CanuckBob on Sun Jun 02, 2019 7:56 am

Yes, thats what I thought so the example above by casa nada is in correct.

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Post by gringal on Sun Jun 02, 2019 8:27 am

slainte39 wrote:
CanuckBob wrote:A 28 day cete is paying 8%??? So per annum it is paying 84%????? Not likely.

At Intercam (Ajijic), cedes are paying 6.72 net, after taxes, per annum. (not per month or 28 days)

...which is a decent return on your money, provided that the institution does not do a "Monex" on you.

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Post by addtocart on Sun Jun 02, 2019 9:34 am

Or, you could leave your money in a US or CA bank and sleep at night.
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Post by CanuckBob on Sun Jun 02, 2019 10:34 am

Yep.....the risks are there and the pesos is quite unstable.

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Post by slainte39 on Sun Jun 02, 2019 8:31 pm

gringal wrote:
slainte39 wrote:
CanuckBob wrote:A 28 day cete is paying 8%??? So per annum it is paying 84%????? Not likely.

At Intercam (Ajijic), cedes are paying 6.72 net, after taxes, per annum. (not per month or 28 days)

...which is a decent return on your money, provided that the institution does not do a "Monex" on you.

I watch things pretty closely, and I don´t let bank employees make decisions for me or give them a loose bridle with my account.
I´m just as leery of sending my "savings" NOB as some of you are sending them south.  If you act like you are "out to lunch", and don´t police your investments and banking activity, I suppose there will always be those who will take advantage of the opportunity.
Just stay engaged and know how to monitor.

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Post by slainte39 on Sun Jun 02, 2019 8:35 pm

CanuckBob wrote:Yep.....the risks are there and the pesos is quite unstable.

I´m a xenophobe and don´t trust foreign banks.    lol!

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Post by CanuckBob on Sun Jun 02, 2019 8:40 pm

Bank accounts in the US and particularly Canada are insured and their fraudulent employees go to prison. Sorry no comparison.

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