ichbinsaege Posted May 17, 2014 Report Share Posted May 17, 2014 When I first opened my bancomer libreton savings account the minimum balance was $1000mxn. Then in March of 2012 they changed the minimum to $2000mxn. Today when taking money out of the ATM, it alerted me that my account now required a minimum of $4000mxn does anyone know anything about this? Has bancomer changed the amount again or is the ATM full of poopoo. I have not seen any postings about this in the bank. Link to comment Share on other sites More sharing options...
Fox Posted May 17, 2014 Report Share Posted May 17, 2014 The 4,000mxn minimum is correct, we were told this on Thursday. There is a 130mxn fee if you go below this amount. Fox Link to comment Share on other sites More sharing options...
ichbinsaege Posted May 17, 2014 Author Report Share Posted May 17, 2014 Wow, so in three years they went from 1000 doubled to 2000 and now doubled again? Link to comment Share on other sites More sharing options...
giltner68 Posted May 17, 2014 Report Share Posted May 17, 2014 Is that for a "standard" saving acct? I generally never keep that much in there as it's accessible by debit card. I keep the larger amount in a money market acct and transfer over as needed, but I don't think I've ever been charged for keeping less than $2000 and definitely not for $4K? Maybe I'm missing something here? Link to comment Share on other sites More sharing options...
ichbinsaege Posted May 17, 2014 Author Report Share Posted May 17, 2014 Is that for a "standard" saving acct? I generally never keep that much in there as it's accessible by debit card. I keep the larger amount in a money market acct and transfer over as needed, but I don't think I've ever been charged for keeping less than $2000 and definitely not for $4K? Maybe I'm missing something here? Yes it is the standard one. I have been charged once for being under 2000. But it is a monthly average that they use. So if your monthly average goes under the amount, you get charged. At least that is how it has been. I am younger and work and pretty much all my income goes to bills, with a little leftover for socializing, or buying myself something. I certainly don't keep 4000 in there. I guess Monday I get to go down and figure out what is up. I believe I went with this over the checking because of either the balance needed to keep a checking open, or maybe fees involved with having one. I can understand 2000, but 4000 seems like a lot for a basic account minimum. Link to comment Share on other sites More sharing options...
Fox Posted May 17, 2014 Report Share Posted May 17, 2014 We only have a Debit account with Bancomer, and the min 4000mxn takes effect in June. Call Lillia @ 376-765-7701 Fox Link to comment Share on other sites More sharing options...
giltner68 Posted May 17, 2014 Report Share Posted May 17, 2014 I'll get in line with you next week to see what is going on, the main purpose of NOT keeping that much in there was protection against card theft. Link to comment Share on other sites More sharing options...
ichbinsaege Posted May 17, 2014 Author Report Share Posted May 17, 2014 We are trying to remember why we didn't go with the checking account. It's been a few years. Does anyone know offhand what the requirements for the checking are? Is there a minimum balance? Monthly fees? Link to comment Share on other sites More sharing options...
exyyz Posted May 17, 2014 Report Share Posted May 17, 2014 Minimum balance now for checking account is 3999 in order not to incur fees. Last year it was 2999. Link to comment Share on other sites More sharing options...
giltner68 Posted May 18, 2014 Report Share Posted May 18, 2014 Two thoughts: we've been flagged by INM as "rich" as we're all aware, so maybe it's just plain old banker greed. Or - could it have anything to do with FATCA? Just a thought. Link to comment Share on other sites More sharing options...
ichbinsaege Posted May 18, 2014 Author Report Share Posted May 18, 2014 https://www.bancomer.com/comun/pdf/tarifario-general.pdf According to that there are other options. I wonder why none were offered to me when I signed up. I don't have a social security check, I am far to young for that. I am not rich. I work and they knew that when I signed up. Guess I will have lots of questions on Monday. The bank is right around the corner so easiest to just pop down there. Link to comment Share on other sites More sharing options...
ichbinsaege Posted May 19, 2014 Author Report Share Posted May 19, 2014 So it is true and I was told there are no other accounts for us. I asked why since they offer many other accounts and I was told that it was a numbers thing and they aren't authorized to let us have any other accounts. Basically you can keep the account up to the minimum daily average of 4000, or close out your account. Link to comment Share on other sites More sharing options...
blondiegal Posted May 20, 2014 Report Share Posted May 20, 2014 i spoke with bancomer in df and guadalajara regarding this today. both people i talked to said it was because we are foreigners, that any other type of account is not available to "us" as we are the funding for their preferred customer unit. i voiced my displeasure with the discriminatory practice and have withdrawn every pesos from their fine institution. Link to comment Share on other sites More sharing options...
joco69 Posted May 20, 2014 Report Share Posted May 20, 2014 I find the 3999 Pesos minimum for the checking account reasonable since I can write 2 checks without charge, have 10 withdrawals per month free at BBVA ATM's and make electronic payments for free, use debit card unlimited without charge and use the preferred customer unit to get served faster. If one cannot afford 4000 Pesos as a balance in a bank account, it might be better not to have one. Link to comment Share on other sites More sharing options...
blondiegal Posted May 20, 2014 Report Share Posted May 20, 2014 you assume far too much joco69. it has nothing to do with ones ability to "afford" a balance of 4000 pesos and everything to do with principle and discrimination. Link to comment Share on other sites More sharing options...
giltner68 Posted May 20, 2014 Report Share Posted May 20, 2014 Based on that, I'd say both my guess's were correct, because we're foreigners we're "rich" and actually costing them pain due to FATCA, I'm going in tomorrow and will specifically ask if they're now reporting to the IRS - I'm betting they are and this covers their expense due to totally misguided US banking laws. Link to comment Share on other sites More sharing options...
giltner68 Posted May 20, 2014 Report Share Posted May 20, 2014 Unfortunately this misguided attempt by the IRS to throttle truly rich Americans stashing money off shore has collected "all" foreigners in it's net. FATCA requires all foreign banks to report foreign account holders to the IRS. Probably BBVA in Spain simply said "fine, rather than sort out Americans, ALL foreign account holders will be lumped". So, a Canadian with absolutely no holdings in the US, maybe never even set foot on US soil is included and I wouldn't be surprised if that net also catches people here from Germany or Argentina. The Americans Abroad http://americansabroad.org/ folks have been fighting this, with little success so far. Now, we're somewhat lucky, a number of foreign banks have simply refused to do business with Americans and closed their accounts. As it is, we're being lumped as reported here. My question today will be if my money market account counts toward that $4000 minimum. Oh, I might add, the local "manager" is only going to parrot what has been told to him, of course they really have no idea why corp is really doing this. Link to comment Share on other sites More sharing options...
lcscats Posted May 20, 2014 Report Share Posted May 20, 2014 Bank of America has 1500USD minimum for no fee. Other option is so much money direct deposited each month. US banks have been trying to get rid of small accounts for years and now the Mexicans banks are doing the same. Can't be bothered with such a small amount of money. Also FYI Bancomer does disclose to the IRS. They told me that three years ago when opening account. They volunteered the information to me which is kinda unusual. Link to comment Share on other sites More sharing options...
giltner68 Posted May 20, 2014 Report Share Posted May 20, 2014 When Beto was still in Ajijic he last told me they wouldn't be reporting until July of this year, because things had been delayed. But I'd bet it's FATCA because two people on this thread have been specifically told "foreigners" are in a special grouping. Would be interesting to know if MXN citizens are seeing this as well. BofA and I had it out in CA in 1965 and I swore they'd never have another dollar of my money. Over the years I was "bought" 5 times and each time I'd move to another bank. The latest thorn in my tail feathers is a safe deposit box at Wells Fargo, they're jacking the price from $65 a year to $100 - or so they think. When I'm up there in July I'm pulling that and going to a smaller bank for $25 and closing my accounts at Wells. It's about all you can do. Link to comment Share on other sites More sharing options...
giltner68 Posted May 20, 2014 Report Share Posted May 20, 2014 Ok, just chatted with the new Eric in Ajijic, she is Maria Elaina, she said Bancomer starts reporting to the IRS in June this year. I asked about the $4k minimum and when I asked if it was due to FATCA, she just smiled. I also asked if my investment accounts offset the need for the $4k - nope, you could have $10M pesos invested with Bancomer and if your savings drops below $4k, you're toast. So, that's the way it is, take it or take it? Link to comment Share on other sites More sharing options...
daisy2013 Posted May 20, 2014 Report Share Posted May 20, 2014 so what do they offer to Mexicans, surely not 4,000 minimum Link to comment Share on other sites More sharing options...
cbviajero Posted May 20, 2014 Report Share Posted May 20, 2014 so what do they offer to Mexicans, surely not 4,000 minimumMexicans have been getting screwed by banks in Mexico forever,via fees,hidden and otherwise.I doubt that they're getting any better treatment than ex-pats are. Link to comment Share on other sites More sharing options...
giltner68 Posted May 20, 2014 Report Share Posted May 20, 2014 They're not "foreigners" so they have other options. Link to comment Share on other sites More sharing options...
cbviajero Posted May 20, 2014 Report Share Posted May 20, 2014 They're not "foreigners" so they have other options.What options regarding banking do they have that you don't have? You on the other hand have options that they don't have... Link to comment Share on other sites More sharing options...
ichbinsaege Posted May 20, 2014 Author Report Share Posted May 20, 2014 so what do they offer to Mexicans, surely not 4,000 minimum My friend checked her acct and no change in the minimum Link to comment Share on other sites More sharing options...
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