Denise Posted April 7, 2017 Report Share Posted April 7, 2017 Be arriving this June, we will be living in Ajijic fulltime. The pension check will direct deposit to a Chase Bank account, this can be changed, if necessary. My question is what is the best way to do banking? Should we open a Mexican Bank account ( my pension can not be direct deposited into one that is not American based the DOE will not do that). Should we open aa account with a bank that is virtual, State Farm Bank has no physical locations, it is an all online bank? Any suggestions. Link to comment Share on other sites More sharing options...
cstone Posted April 7, 2017 Report Share Posted April 7, 2017 Do both. Open an account with an international bank in the US, one that does easy transfers of funds and charges no big time ATM fees. Get a credit card through them with no international fees. Open an account here at a local international bank that is convenient for you. I am partial to HSBC, but you will choose one you feel comfortable with. Online or " brick and mortar," is your choice. We kept the bank we have used for decades. Link to comment Share on other sites More sharing options...
gringal Posted April 7, 2017 Report Share Posted April 7, 2017 I suggest going to "American Citizens Abroad" website, where you will find helpful information and references re banking. Link to comment Share on other sites More sharing options...
El Saltos Posted April 7, 2017 Report Share Posted April 7, 2017 I recommend a smaller (not Int'l) Mexican bank such as Banco Multiva. Maintain a US bank account with one that has low fees. Link to comment Share on other sites More sharing options...
sm1mex Posted April 7, 2017 Report Share Posted April 7, 2017 Keep your bank in the U.S. and use ATM cards here. The peso can fluctuate, so a dollar deposited today may not be worth a dollar tomorrow.. Link to comment Share on other sites More sharing options...
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