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Bancomer libreton account


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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.

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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?

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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?

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so what do they offer to Mexicans, surely not 4,000 minimum

Mexicans 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.
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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...

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