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BANAMEX....who are the chosen?


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Hate to get back to the original post BUT, in spite of all the conspiracy theories regarding FACTA and the IRS, Banamex USA (a different company than Banamex Mexico), has been under US investigation for many years regarding money laundering activities and is reportedly closing 8 of its 11 branches. This might explain why some, but not yet all, Banamex USA clients have received letters regarding their accounts being closed.

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Hate to get back to the original post BUT, in spite of all the conspiracy theories regarding FACTA and the IRS, Banamex USA (a different company than Banamex Mexico), has been under US investigation for many years regarding money laundering activities and is reportedly closing 8 of its 11 branches. This might explain why some, but not yet all, Banamex USA clients have received letters regarding their accounts being closed.

That has already been discussed here on the other Banamex USA thread.

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Hate to get back to the original post BUT, in spite of all the conspiracy theories regarding FACTA and the IRS, Banamex USA (a different company than Banamex Mexico), has been under US investigation for many years regarding money laundering activities and is reportedly closing 8 of its 11 branches. This might explain why some, but not yet all, Banamex USA clients have received letters regarding their accounts being closed.

Is it just coincidence that the Americans living in Mexico, who are receiving "account closed" messages as of June 30, 2014 from Banamex-USA, exactly fit the 3 new IRS/Treasury FATCA requirements coming online July 1, 2014, while Americans living abroad with Banamex-USA accounts who do not fit the FATCA requirements are being allowed to keep their Banamex-USA accounts ?

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sorry SNOWYCO, I know of individuals here who have received a notice but don't fit any of the 3 FATCA reporting items you listed.

also, if FACTA reporting was the reason, then many other banks in the US would be taking the same action and closing accts effective June 30 prior to the new reporting requirements. Still most likely that this is a Banamex USA problem and related to cost associated with fixing their specific past behaviors as a company.

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Since people have not been posting their financial statements for your perusal, none of you have a solid idea what the financial situation is for those who have Banamex USA accounts, so why don't you just give up on speculating? The reasons will probably become evident with time. If you search on the web deeply enough, you'll find that Banamex USA, in one report, is opening new branches in the states to serve the cross border trade. Go figure. :017:

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Actually Gringa that is not quite true. At least two of us at each end of the financial spectrum have posted, so I think we can rule out the amt. of money in the account as being a factor.

I remain convinced it is problems with the bank/regulators and those of us who are full time in Mexico.

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Actually Gringa that is not quite true. At least two of us at each end of the financial spectrum have posted, so I think we can rule out the amt. of money in the account as being a factor.

I remain convinced it is problems with the bank/regulators and those of us who are full time in Mexico.

True, but not enough people gave the kind of details that could lead to a valid conclusion about Banamex's USA's decision, and so what we have is speculation. I agree with your conclusion, though, that it's about the bank/regulators and full timers in Mexico, although I personally know some of the latter who did not get dumped, so again "go figure".

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Probably just those "wingers" messing with folks living in Mexico. Right Gringal

Actually, they mess with everybody. Gives 'em something to do. :unsure:

Latest report is that the bike wingers have turned around and headed back to Texas.

There goes the movie!

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