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Mijo

Which bank?

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Hi amigos 

I’d like to open a bank account at a Mexican bank. Of course, low or no fees, favorable exchange rate etc. Any recommendations?

 

TIA

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I have been more than happy with BBVA Bancomer in Chapala. My US account is with USAA, so my withdrawal fees are refunded at the end of the cycle. Best exchange rate is usually at HSBC, so I withdraw there and deposit to my Bancomer account.  I pay all my bills from that account, buy air time, and have a credit card through them. I pay the CC with a transfer from my checking account. The $4000 peso minimum assures no fees and I pay the CC in full each month.

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24 minutes ago, artsnob said:

CIBanco has the lowest atm fee. 17 pesos for 9,000 pesos withdrawal.  

the OP is asking about opinions on which bank to open an account.  

I too am happy with BBVA which also has a  Preferred Customer center telephone that is answered in English. I have a Credit card with them so I can take advantage of months without interest offers. I pay for everything with the card and earn enough points to fill my tank  2 or 3 times a year. Also their app makes it easy to handle  the accounts. 

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I doubt anyone is going to say HSBC.... that's like saying Wells Fargo in the US is the best!

 

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If you have an account with HSBC north of the border HSBC Lakeside could be a good choice. That is why I use it. I have an account also at the local HSBC. Their ATMs are very popular with gringos and Mexicans as there are 3 machine and parking is easy and handy. 

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And I like Actinver Bank and their Brokerage Branch. Are they best? Heck I do not know. I just know that they are very accommodating and make it easy for me to wire funds from my ML account (north of the Border)  to my Actinver brokerage account free of charge and at an exchange rate very close to the spot rate.

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I agree with Mostlylost I have Bancomer in Jocotepec. I have got to know everyone in the bank since everyone is local. Good relationship plus they always have someone at the ATMs to help. I also use their credit card pay on time and get good money back. It's like free money. 

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I had a bad experience with a Bancomer ATM  some years ago-money taken from my Canadian account but no money issued to me. Not their fault but... Bancomer could have been more helpful.The a few years back there were reports that one of the Bancomer employees transferred money out of a clients account to herself. Bancomer appears to have cleaned up their act since. 

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10 hours ago, johanson said:

And I like Actinver Bank and their Brokerage Branch. Are they best? Heck I do not know. I just know that they are very accommodating and make it easy for me to wire funds from my ML account (north of the Border)  to my Actinver brokerage account free of charge and at an exchange rate very close to the spot rate.

Is Actinver a bank or a brokerage house? Their hours of service used to be quite restricted. Do they have an ATM now?

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It is both a Bank and a brokerage house. I think they open at 8:30 in the morning and I am not sure when they close, maybe 5 PM ? I do not think I have seen an ATM. At least I have never seen one.

Oh, and they have free coffee as well :) 

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1 hour ago, johanson said:

It is both a Bank and a brokerage house. I think they open at 8:30 in the morning and I am not sure when they close, maybe 5 PM ? I do not think I have seen an ATM. At least I have never seen one.

Oh, and they have free coffee as well :) 

So that continues to be their main problem-how to get money from them at night and on weekends.

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31 minutes ago, cedros said:

So that continues to be their main problem-how to get money from them at night and on weekends.

The Multiva and Scotia ATM no charge for Actinver. and cash back up to 2000 no charge at Walmart.

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