What bank should I use in Lake Chapala as a main bank for monthy funds transfer from Schwabb

[michael2595]

I am moving to Ajijic and Have funds in Schwab. What would be the best bank with the least hassles and lowest fees to handle my monies that will be transferred on a regular basis form my Schwab accounts. I would also need it to have ATM. Thank you kindly

[RickS]

Many many people live in Mexico WITHOUT a Mexican bank. They use ATMs for all their cash requirements.... getting the best rates and not having to deal with a bank locally. 

[utilitus]

I have just returned to California from Lakeside, where I used my Schwab ATM card at HSBC offices and machines, notably across the road from Walmart.  Last week, using daily rate information from http://www.eldolar.info/en/mexico/dia/hoy , HSBC offered the best convenient Peso rate - currently it may be Inbursa.  While I haven't had time to sit down and verify the theory I applied, the combination of Schwab ATM policies and a modern bank worked smoothly for producing cash on demand. The additional advantages of a local bank account are another matter; the FX rates offered by Mexican banks seem to be extremely poor.

[rvanparys]

Agree with the above... Keep your money with Schwab and use the ATM.  If you choose to use a Mexican bank only deposit what you can afford to lose...

[desertdave]

rvanparys, just curious.  Have you lost money by depositing it in a Mexican bank?  I for one have been doing it for ten years without any issues.  Are you possibly talking about the drop in the value of the peso or a safety issue about the banks?