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Does anyone know if there is a way of saving ( savings account or CD - not an investment account) in a US dollar denominated account in any of the Mexican banks? If so - which bank?

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Actinver and Monex have non interest $ accounts. Given the increase in the $ these past 12 months, it's value just sitting there has increased 15% + .

Significantly more than what you could have got in a Pesos nominated investment account

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Actually, a dollar is still worth only a dollar.

Not in Mexico..ask someone who has just purchased a large item, like a car or refrigerator..which they could not afford last month..Sadly no such luck with the Loonie

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I don't think that any of the main Mexican banks will give an individual a US dollar denominated account. Maybe if you are a big company, the president, or some such, but not normal individuals.

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Does anyone know if there is a way of saving ( savings account or CD - not an investment account) in a US dollar denominated account in any of the Mexican banks? If so - which bank?

Actinver has this service. If you wire transfer it to their Bank of America account in Houston Tx. it can sit there for as long as you want. When you need to withdraw some in 48 hours it is in pesos or dollars here in Mexico. A national US wire transfer you would use has a fee from your bank and Actinver charges about $30.00 US to bring it here. You have to go into their office and sign the international wire transfer. Ask for the preferred customer exchange rate. Also I feel Actinver is a safer place to keep large sums of money compared to a Mexican bank as I feel some bank employees here sell info. to the bad guys.

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So many with an opinion that is not based on experience.

I have a US$ account at Actinver. They even invest it in a "secure fund' if you want, and they transfer it in US whenever you decide to do it. But it won't give you any interest, which is not a big deal right now as you don't get so much anywhere.

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I used to have some money in US dollars at Multiva

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Lakeside 7

If I purchased my car now it would be cheaper for me then it was back in December.

The car is priced in pesos and you have to pay in pesos. I get more pesos for every dollar transferred into my Banamex account now then I did back in December.

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Lakeside 7

If I purchased my car now it would be cheaper for me then it was back in December.

The car is priced in pesos and you have to pay in pesos. I get more pesos for every dollar transferred into my Banamex account now then I did back in December.

Not really. Because in December they priced your car according to the exchange rate of the time.

Every month, the dealers adjust their rate.

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No the price is not adjusted. You can get a good deal right now including the discount you can negotiate even get insurance for one year.

Tell me where that is. As I am looking for a car right now, I've done many places and there was not such a thing. No negotiation at all. They will change the rate this week for September. And guess how much more than last month it will be. As they don't have it in stock, I will have to depend on the price when the car is ready for delivery--meaning I don't know yet how much I will be paying for it.

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I bought a car so did my friends and they transferred money at almost 17 pesos so their cars were so much cheaper than you can get in the states.

Unfortunately, I don't live in the States but Mexico, and I've got to go by the price they quote me in Mexico in pesos. I have pesos not US$.

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I've bought two new cars here, one in 2006 and one in 2013. In both cases I got the current exchange rate and negotiated a >10% discount for paying cash. The price is NOT the price unless you accept it as such.

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3,000 years of haggling at bazars around the world show that some people have the vibe that hagglers recognize and respect, while other people like my wife give off the opposite vibe that causes the sellers to always charge her full price.

MXN peso has strengthened again today, down to $16.7, so the new car weaker-peso driven discounts may not be as big as expected. Where will the peso be next week? or next month?

Going back to the original topic, some people choose stability of a US dollar denominated account over the roller coaster ups and downs of a peso denominated account.

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I had a USD account in the 70's in Mexico. Overnight the Mexican government made them illegal and converted them to peso accounts. The shortly afterward devalued the peso. I don't think they are really legal to this day.

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after FATCA it is impossible to open a dollar account in the mexican banks. at least for an individual. I tried in all mexican banks and that was the answer.

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We, like Geezer, had a dollar account that was frozen. Now we are afraid the US government will come back on us about it. If they can get the money out of the bank, they are welcome to it.

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after FATCA it is impossible to open a dollar account in the mexican banks. at least for an individual. I tried in all mexican banks and that was the answer.

Maybe for American people it is impossible because YOUR government restricts other countries from doing so. But as a Canadian citizen living in Mexico it is possible.

Please don't say otherwise because I have a US account here in Ajijic therefore it is possible.

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Koko, since the purpose of this post is to see if one can have a US dollar account here and since you say that you have one here, it might be helpful to the poster by answering the question and telling us exactly where you have this USD account. It may benefit others as well. Possibly, even an American might attempt to do the same. It would also allow you to make a helpful response. Thank you.

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