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Banco Azteca


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I have no need for a Mexican credit card or checking account, but the local utilities no longer take my US cards, debit or credit. I wish to pay them online and found that local banks plunder you with fees and high interest. In researching my options I chose a demand account with Banco Azteca. The reasons were:

  • They are everywhere in Mexico.
  • Open from 9 to 9.
  • No minimum deposit or balance required.
  • Issue a Visa or MasterCard debit card at account opening.
  • Pay .1% on balances.
  • No fees or insurance requirements.
  • Online management of the account including bill pay.

I paid CFE and Telmex bills within 30 minutes of leaving the bank. I will never meet the reporting requirements of FBAR or use them for investments. All I needed to open the account was passport and a color copy of it (their scanner will not work with passports), visa, proof of address, and one or more pesos opening deposit.

https://www.bancoazteca.com.mx/PortalBancoAzteca/cuentas-inversion/guardadito.do

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3 hours ago, AngusMactavish said:

I have no need for a Mexican credit card or checking account, but the local utilities no longer take my US cards, debit or credit. I wish to pay them online and found that local banks plunder you with fees and high interest. In researching my options I chose a demand account with Banco Azteca. The reasons were:

  • They are everywhere in Mexico.
  • Open from 9 to 9.
  • No minimum deposit or balance required.
  • Issue a Visa or MasterCard debit card at account opening.
  • Pay .1% on balances.
  • No fees or insurance requirements.
  • Online management of the account including bill pay.

I paid CFE and Telmex bills within 30 minutes of leaving the bank. I will never meet the reporting requirements of FBAR or use them for investments. All I needed to open the account was passport and a color copy of it (their scanner will not work with passports), visa, proof of address, and one or more pesos opening deposit.

https://www.bancoazteca.com.mx/PortalBancoAzteca/cuentas-inversion/guardadito.do

You can also pay your phone bill there without the bill, just the phone number. 

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3 hours ago, barcelonaman said:

Been with them for 6 years. No problems and decent interest rates.

To me 6 years is a short time to be certain about a bank.

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yes, it seems to be for the common Mexican.  Maybe that is why they offer no fees, which is the way it should be.  Yea for the common man.  Imagine telling our forefathers that when they work, they need to go give their money to someone else to hold for them.  Then when they want to go get some of their money to use they will have to pay the person to use their OWN money....crazy...but a fact we "modern gullible" people have grown use to......(you can probably guess i feel the same way about insurance)....and i do use both institutions so i guess Im one of the "gullible"....lol

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1 hour ago, sputnik said:

yes, it seems to be for the common Mexican.  Maybe that is why they offer no fees, which is the way it should be.  Yea for the common man.  Imagine telling our forefathers that when they work, they need to go give their money to someone else to hold for them.  Then when they want to go get some of their money to use they will have to pay the person to use their OWN money....crazy...but a fact we "modern gullible" people have grown use to......(you can probably guess i feel the same way about insurance)....and i do use both institutions so i guess Im one of the "gullible"....lol

You don't need to give your money to someone to hold for you. You can keep it under a mattress. Banks have always made money by taking in money. The US Forefathers had banks also and the banks couldn't build buildings and have employees without charging for services.

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Some people seem to not understand my recommendation of Banco Azteca. I am using them for a free demand deposit account only. I would never invest with them nor use their credit offerings. I find it very advantageous to be able to pay my utility bills online for free.

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Bancoppel and banco Azteca smake their money offereing merchandise on credit to poor people. anyone in Mexico knows that..j In CHiapas they even offer all the merchandise and credit terms in Tzotzil so right there it tells you a lot about their customer base..poor indigenous who can hopefully read.. Since those people are high risk I am assuming that their rate of interet for credit is very healthy..You have to go through the store to get to the fiancial part...

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6 hours ago, cedros said:

What is it you want, a bank that lets you make weekly payments to buy things or a bank that has easy to use accounts? I give up.

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11 hours ago, Joco said:

You don't need to give your money to someone to hold for you. You can keep it under a mattress. Banks have always made money by taking in money. The US Forefathers had banks also and the banks couldn't build buildings and have employees without charging for services.

yes i totally agree and yes I am a "mattress" person....lol...i only have a very small amount in multiva for a certain reason....i dont like banks and never have.....

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