ibarra Posted January 1, 2016 Report Share Posted January 1, 2016 Does anyone have experience with direct deposit of their Social Security check/s in Mexico? If yes, please give a few details. We understand that Bancomer will except direct deposit. Do they deduct a fee from your payment for the service? Is there a lag time for withdrawals? Etc. Thank you. Link to comment Share on other sites More sharing options...
757 Posted January 1, 2016 Report Share Posted January 1, 2016 We have used Bancomer for SS for over 10 year. There is no fee. All direct deposits are available on the third of the month, adjusted for business days. This month we received deposit on 12/31. Usually deposit show online mid-afternoon. Link to comment Share on other sites More sharing options...
Floradude Posted January 1, 2016 Report Share Posted January 1, 2016 Yes, I have direct deposit into my Banamex account. In fact my January deposit arrived yesterday at 2 pm., and it came in at 17.22 pesos/$1 USD. Link to comment Share on other sites More sharing options...
ibarra Posted January 1, 2016 Author Report Share Posted January 1, 2016 Thank you both for your replies. Are either one of you nationalized? Do you have to file taxes in MX on this income? Do you have ATM cards? How long did it take for your deposits to show up in your MX accounts after switching banks from your home countries? Link to comment Share on other sites More sharing options...
Wookie Posted January 1, 2016 Report Share Posted January 1, 2016 The deposits showed up the next month after switching banks. You do not have to file MX taxes on this income. We are both residente permanente. We do have ATM cards. Link to comment Share on other sites More sharing options...
Oldyfeliz Posted January 2, 2016 Report Share Posted January 2, 2016 Questions - Is the deposit direct from the US Treasury into Bancomer/Banamex, or is the deposit routed thru a bank in the USA ? Soc Security requires a USA address, or requires response each year to a form mailed from Soc Security to Mexico address verifying you are still alive ? Thanks Link to comment Share on other sites More sharing options...
rjkveton Posted January 2, 2016 Report Share Posted January 2, 2016 From US Treasury to Banco de Mexico and then to your Mexican bank account, and you get a very favorable exchange rate. You need to notify the SS section at the US Consulate in Guadalajara and register your Mexican address. Then give them the CLABE to your Mexican bank account. http://guadalajara.usconsulate.gov/service/other-citizen-services/social-security-and-other-federal-benefits2.html Link to comment Share on other sites More sharing options...
Al Berca Posted January 2, 2016 Report Share Posted January 2, 2016 Several banks here use Deutschebank, I think in NYC, as the intermediary bank. I am certain that Actinver and Multiva both do. Link to comment Share on other sites More sharing options...
hockeyrick Posted March 19, 2017 Report Share Posted March 19, 2017 Hi everyone In the process of making transition to Mexico from Thailand, yes Thai. I have SS direct deposit here(less than a year on it), what docs will I need specifically(if u have the SS doc number, maybe I can download them). just trying to get a jump before I make the actual move. Thanks for any and all info Link to comment Share on other sites More sharing options...
rjkveton Posted March 20, 2017 Report Share Posted March 20, 2017 Please refer to my post above if you have not done so. You have to open a Mexican bank account and you can't do that unless you are here and already have your residency permit, either temporary or permanent. Once you have the bank account opened you can then deal with the US Consulate in Guadalajara to arrange for the transfer. It will not be done immediately so you will probably end up with a deposit or two still going to Thailand unless you have a bank account still in the states and can have you deposit sent there in the interim. If you have a USA bank account you can use a debit card for that account to get pesos from any ATM here in Mexico. Link to comment Share on other sites More sharing options...
lunalena Posted March 20, 2017 Report Share Posted March 20, 2017 The SSA is notified if you die, so the annual form is not a "proof of life" document. It asks a few questions regarding any changes in your circumstances and, should you not receive and return it within the alloted time, just call the US Consulate in Guadalajara to have your benefits reinstated within 15 business days. Link to comment Share on other sites More sharing options...
Jabonera Posted April 6, 2017 Report Share Posted April 6, 2017 One need not be a resident to open an account at Multiva in Ajijic. I did so on March 5, emailed the Consular in Guadalajara, received forms to be filled out, scanned & returned. No muss, no fuss. Within 2 days I was notified my address & my bank details were officially updated, but recommending I not close my other bank account until I had begun receiving the deposit at Multiva. March 3, SS received, no dramas. Most other banks require residency. Multiva does not. Nice way to get your money issues handled during transition. Only drawback (for me) is that I cannot use the debit card for online purchases. Will try to link to PayPal when I get around to it. Link to comment Share on other sites More sharing options...
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