johanson Posted August 5, 2014 Report Share Posted August 5, 2014 I just noticed that since July 28th, Actinver has been cashing US checks. So I guess they only stopped doing so for four weeks. There are certain restrictions, but I guess that in spite of the US regulation changes that things are getting back to normal. PS If this is old information, sorry. Link to comment Share on other sites More sharing options...
gary0131 Posted August 5, 2014 Report Share Posted August 5, 2014 I just noticed that since July 28th, Actinver has been cashing US checks. So I guess they only stopped doing so for four weeks. There are certain restrictions, but I guess that in spite of the US regulation changes that things are getting back to normal. PS If this is old information, sorry. I was just in Actinver this morning and they took my BOA check and will cash it in 10 days just like last month. Prior to last month, I could write a check and give it to them in the morning and get the cash at about noon. Link to comment Share on other sites More sharing options...
johanson Posted August 5, 2014 Author Report Share Posted August 5, 2014 I always keep a small balance in my account and so when I write a check which is always less than what is in my account, I always get my money immediately. However I find cashing US checks a very expensive way to get Mexican pesos. In my case, Merrill Lynch will wire my money directly from the states to my Actinver Bolsa account and I get a more favorable exchange rate; in fact close to the spot rate. Link to comment Share on other sites More sharing options...
CSOKI Posted August 5, 2014 Report Share Posted August 5, 2014 Actinver only accepts US $ cheques for DEPOSIT. Max .amount of cheque US$ 20,000. They are not cashing/changing US$ cheques. Link to comment Share on other sites More sharing options...
canmex87 Posted August 5, 2014 Report Share Posted August 5, 2014 I was in their Chapala location today and they had a sign posted stating that they were not cashing U.S. cheques. Link to comment Share on other sites More sharing options...
johanson Posted August 5, 2014 Author Report Share Posted August 5, 2014 Please forgive me. I could have done a better job of explaining Actinver's policies. As of July 28th, Actinver is again accepting US checks under much the same terms and conditions as they did before the end of June, when they temporarily stopped taking them. However when writing that US check for a deposit in your Actinver account, there are certain new check writing instructions that need to be followed And yes, as before, there is a waiting period between the time you deposit said check and when you can withdraw funds from that check. It's something like 28 days, I don't remember. However, I have built up a small balance in my 17 year old account at Actinvers; so should I ever deposit a check, I already have more than enough funds saved up to ensure that I can immediately withdraw other funds from my account. However I get a much better rate of return when I wire my US funds from my US bank or Merrill Lynch to my Actinver Bolsa account as apposed to depositing a US dollar check from my US bank account into my Actinver Bank account. So I always wire my funds from the US to my Actinver account here in Mexico Link to comment Share on other sites More sharing options...
holdrja Posted August 5, 2014 Report Share Posted August 5, 2014 Thanks for posting! I emailed Beatriz and Adriana yesterday at Actinver to ask if they were allowing the deposit of US checks again, and they haven't replied. BTW, I am researching banks in Texas that participate in the Mexico Directo program -- I'm getting a lot of pushback in general, about transferring funds to Mexico from the States, with some banks/credit unions telling they will no longer send funds internationally, at all. Link to comment Share on other sites More sharing options...
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