Social Security from USA to Mexican banks

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Jean Ann Active member

Member since 28 February 2013

Jean AnnActive member20 March 2013 23:14:35

Just wondering if any of you have a SS check sent from the USA directly to a Mexcian bank.....thinking today of how much I have to spend each time I use my card for purchases.....I know it would be less if I used my Mexican bank card.....
I know that we can do this but just wondered if you had any experience ........Think it is done thru the American consulate.

joaquinx Serial expat

Member since 20 August 2011

joaquinxSerial expat20 March 2013 23:34:34

461

I have an account at Bank of America and use the ATMs of Scotia and Santander to withdraw pesos from the BoA account. I either use those pesos to make purchases or deposit them into my Mexican bank account. I then use the Mexican bank debit card to make purchases. Personally, I feel safer about having an account insured by FDIC. Although Mexican banks have an insurance scheme, I feel better about having my funds in a US bank. I don't carry the US bank debit card except to withdraw funds from the ATM. I carry the Mexican bank debit card and if it gets compromised or stolen, they'll only get a few thousand pesos, but not the funds in the US account.

I don't know how long it would take to get the funds into your account, but it is not done directly. My best guess is around 3 days.

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