Banking in Mexico

Welcome to the ex-pat Mexico forum delholcombe45

I think some sites are steadfastly sticking to the old norm. As I posted a while back things have been shifting for a while and one of the changes I observed was a reduction in availability with the big banks in the U.S

Then I noticed banks were not accepting debit cards in some of their branches. Next, they updated all of their ATMs. This happened in several banks one of which was  Banamex.  At this point, I have one bank which accepts my card in a further out branch. I noticed the same issue was occurring in Merida. People were told their cards can't be processed currently if they are customers and of course, people who are not customers are just denied service.
I am not a naive newbie. I've freely used my card where ever I went for over 10 years. Now especially in the more populated areas like large cities and malls that is not the case. Welcome to the big bank's new world order I suppose.

delholcombe45 wrote:

mmm...  The folks at BBVA here in Arizona said I won't be able to us them...  No easy way to transfer from account to account to Mexico...???  Not what I'm reading on-line though...  Kinda shoots me down...  Mind if I ask what US bank you use to transfer funds to your Banamex account...???

Expats around the world are finding that Charles Schwab is a really great alternative.

They do charge $15 for a wire transfer up to $10,000, unless you have an international account with over $25,000 in total assets (cash, equities, bonds) at which point your wire transfers are free.

But even if you only have the minimal account (which I believe requires $100 to open but can get as low as one penny) any ATM fees that you incur internationally are rebated to you at the end of the month.

So I know a number of expats who simply go to the ATM machine on payday and withdraw the maximum amount of cash, and then they repeat the process until they have all the cash that they need.

No wire transfer fee necessary.

Now having said that, I've noticed that some ATMs, including Citibank ATM in Rosarito, are limiting withdrawals to only one.

I tried to use my Charles Schwab card the other day and withdrew the maximum 4,000 pesos, and then attempted to make another withdrawal after removing and reinserting my card and the machine refused.

I'm guessing that's because of the kidnappings that have been going on where people are forced to withdraw the maximum amount of money they have in their bank account through an ATM.

So I'm guessing that will depend upon where you end up, but even if you can't get multiple withdrawals in one day, you should be able to get multiple withdrawals on sequential days.

The only reason I ever used a wire transfer during 3 years in Vietnam was to send money to a Vietnamese person's bank account directly.

FYI I've had one month where Schwab rebated almost $60 in ATM fees to me.

Well good luck with that Ocean,
but I don't think a kidnapping has anything to do with it. Generally speaking. What happens is sometimes you don't get to make a withdrawal at all. They verify that you have a valid card and it looks like they will proceed then they say your card can't be processed.
From what happened to you I suspect the type of card won't change that. If you have an account in that bank it mike take two or more passes to get any money at all from what is basically your bank.
Trust me I have been observing this for months.

travellight wrote:

Well good luck with that Ocean,
but I don't think a kidnapping has anything to do with it. Generally speaking. What happens is sometimes you don't get to make a withdrawal at all. They verify that you have a valid card and it looks like they will proceed then they say your card can't be processed.
From what happened to you I suspect the type of card won't change that. If you have an account in that bank it mike take two or more passes to get any money at all from what is basically your bank.
Trust me I have been observing this for months.

I don't doubt it.

As I meant to imply in my previous response, different experiences at different banks in different areas.

Now of course (as you told me once) I'm not really in Mexico.

I'm in North Baja in Rosarito.

This morning being payday, I went to the Santander ATM in a local store and withdrew the maximum 9000 pesos.

Then I reinserted my card and withdrew 9000 more pesos.

Rent is now paid and I have walking around money.

If I'd gone to the Citibankmex ATM, I would have only gotten 4000 pesos max and only one withdrawal.