ATM limits

[jstbecuz]

Are there ATM machines that allow withdrawals of 10,000 pesos? Not being able to write checks for rent anymore is such a hassle!!! Thanks in advance.

[ibbocat]

HSBC allows more than most.

[ACinMX]

HSBC Branch ATM - across from Walmart - I do it all the time

[Tony_In_Mexico]

The Banamex across from the plaza in Chapala allows 10k withdrawal.

[RVGRINGO]

The amount you can withdraw on a single day is controlled by your bank. You can ask them to raise the daily limit. Then, it depends upon the individual ATM and what it has available in cash, as well as a normal limit, if any.

[John Shrall]

Machines at CI Bank and Multiva can physically dispense at least $13,000 in one transaction as long as your ATM card supports that amount. My card limit is $1,000 per day.

The Banamex machines at the Farmacia and Wal-Mart as well as the Bancomer machine in Ajijic and Wal-Mart seem to have a $10,000 peso transaction limit.

Ameritrade has refused to increase my daily limit each time I ask.

[Joco]

Are you paying your rent in pesos or with a U.S. bank check? If you are paying with a check then cashing it is your landlord's problem. Many landlords want a U.S. check because they deposit checks in their U.S. bank accounts and bypass Mexico completely.

[FHBOY]

Joco:

Last week, my rental agent told me that my landlord can/will no longer accept USA drawn checks for rent even though my lease is in USD not pesos because of this banking change. He said he'd accompany me to Intercam, with all the usual needed documentation and I can swipe my ATM there and get pesos with no commission or charges. I already have an ATM that does that because of my banking relationship with my USA bank, so we'll see. In any case, it is just another PITA that we've exchanged for the benefits of living here, and so...wherever you go, there you are!

[jstbecuz]

Joco...It is NOT my landlords problem now that he gave me notice that he will no longer accept checks from US banks.

[jstbecuz]

Machines at CI Bank and Multiva can physically dispense at least $13,000 in one transaction as long as your ATM card supports that amount. My card limit is $1,000 per day.

The Banamex machines at the Farmacia and Wal-Mart as well as the Bancomer machine in Ajijic and Wal-Mart seem to have a $10,000 peso transaction limit.

Ameritrade has refused to increase my daily limit each time I ask.

Thanks John. I have the same card limit as you. It is great to know where I can go to get 10,000 peso withdrawals.

[SunshineyDay]

Intercam has an ATM??

[Tony_In_Mexico]

The amount you can withdraw on a single day is controlled by your bank. You can ask them to raise the daily limit. Then, it depends upon the individual ATM and what it has available in cash, as well as a normal limit, if any.

While this is true, it's also true that ATMs put limits on the amount that can be withdrawn per visit. As I said, the Banamex in Chapala allows a 10k withdrawal. Right around the corner at Santander, the limit is 7k. That has nothing to do with your own bank.

[RVGRINGO]

Please read my post again, Tony.

I said, “Then, it depends upon the individual ATM and what it has available in cash, as well as a normal limit, if any.“

[pappysmarket]

Please read my post again, Tony.

I said, “Then, it depends upon the individual ATM and what it has available in cash, as well as a normal limit, if any.“

Yes, and the OP was asking about which MACHINES allow $10,000, not which BANKS.

[ComputerGuy]

All the ATMs tell you you can withdraw a maximum of X pesos. What they don't tell you is that it's per card use... so you take your card out, put it back in, and do it again, until you reach either the machine's actual limit or your daily withdrawal allowance. I always paid my rent that way in the past.

[pappysmarket]

All the ATMs tell you you can withdraw a maximum of X pesos. What they don't tell you is that it's per card use... so you take your card out, put it back in, and do it again, until you reach either the machine's actual limit or your daily withdrawal allowance. I always paid my rent that way in the past.

Where on the machine do I look to find the value for "X"?

And remember each use incurs that nice 80 or so peso charge.

[ComputerGuy]

Last time I used a machine, it told me onscreen during the process... And in my case, using the Scotia machine incurs no charges. Other machines have different rates, and you will now be inundated with details on those.

[Joco]

Joco...It is NOT my landlords problem now that he gave me notice that he will no longer accept checks from US banks.

Your landlord was never allowed to accept U.S. dollars or U.S. checks for rent. Contracts in Mexico are required to be in pesos. Many property management companies and landlords wanted U.S. checks so they could mail the checks to their banks in the U.S. avoiding Mexican taxes.

[jstbecuz]

My US bank charges me $5.00 every time I use the ATM so that is why I was looking for which ATM's offer the highest number of pesos per card use. BTW...I went to Multiva's ATM and got out the 10,000 pesos. The Multiva ATM fee was 29 pesos. I will never...never...never use the ATM at Bancomer! They charge over 80 pesos!!! That is just plain nuts!!!

[pappysmarket]

Your landlord was never allowed to accept U.S. dollars or U.S. checks for rent. Contracts in Mexico are required to be in pesos. Many property management companies and landlords wanted U.S. checks so they could mail the checks to their banks in the U.S. avoiding Mexican taxes.

It has been many years since contracts had to be in pesos, ask your attorney.

[jstbecuz]

Joco...maybe my landlord was never allowed to accept US checks BUT for the past three years that is what he wanted...no pesos...just checks. Also my lease stated the rent amount in dollars. I never had a problem and showed the lease to a lawyer...she said everything was fine.

One thing we ALL have to do when we move here is learn to go with the flow. There is always the option to go back to where we came from, si???

[John Shrall]

Transaction limits are pretty straight forward. An ATM typically has 4 canisters of notes. Each canister can hold from 500 to perhaps 2,000 bills. The bank decides what denominations to load in each canister largely dependent on the location of the ATM and the expected usage.

The little opening called the throat that pushes bills out to you can only hold so many before jamming. Brand new bills are thinner than used ones so it might be able to safely push 40 brand new bills but maybe only 25 or 30 used bills.

The maximum transaction amount would also be a lot less when using a machine that dispensed $200 $100 and $50 notes as opposed to one that only stocked $500's.

There is also an algorithm the machine employs that decides how many notes of each denomination are dispensed for a request. In the past when asking for $10K pesos at the Farmacia I'd get a fair number of $500, $200 and $100 notes. Lately they are all $500 with the last $500 broken down. It could be that they are filling 2 canisters with $500's and the other 2 with $200's and $100's.

Transaction limits are all about the maximum number of bills that can be safely dispensed without jamming and the denominations in each canister.

I think the highest number of notes I received in a single transaction was 26 when asking for $12,900 or $13,000 pesos. That limitation was due to my ATM card daily max of $1,000 USD and the prevailing exchange rate.

[ComputerGuy]

Ack. You can pay your landlord any which way he likes. Your lease can also have any kind of money on it, seriously. It's wise to also include the peso value. Landlords here like it to be in U.S. dollars, because when the value of the dollar goes up, they get more bang for their bucks. That's why I insist on pesos on my lease now. Unchangeable.

[Joco]

Joco...maybe my landlord was never allowed to accept US checks BUT for the past three years that is what he wanted...no pesos...just checks. Also my lease stated the rent amount in dollars. I never had a problem and showed the lease to a lawyer...she said everything was fine.

One thing we ALL have to do when we move here is learn to go with the flow. There is always the option to go back to where we came from, si???

You can throw in your hat and return home or you can tell a potential landlord that under Mexican law all contracts are in pesos. Can you imagine signing a lease in the U.S. to be paid in pesos?

I'm sure your lawyer thought the lease was OK for you because the landlord cannot enforce it since it is illegal.

[Joco]

Ack. You can pay your landlord any which way he likes. Your lease can also have any kind of money on it, seriously. It's wise to also include the peso value. Landlords here like it to be in U.S. dollars, because when the value of the dollar goes up, they get more bang for their bucks. That's why I insist on pesos on my lease now. Unchangeable.

It is in the Jalisco Finance Code that all contracts must be in pesos. All ads are required to be in pesos also. Can you imagine a lease being legal in the U.S. with the landlord asking to be paid in pesos? How enforceable do you think that would be?