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SunFan

Money Transfer (after I sell my Monet)

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Its time to buy a new(er) car again.

The last time I did it in 2016 I wrote a cheque for deposit to my Bancomer account. Took forever.

Can anyone recommend one of the new electronic transfer services and what they might charge. My loot is in a Canadian bank.

Thanks for any recommendations and advice.

SunFan

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We charged our new car in 2017, lots of airline miles and excellent exchange rate from our US credit card.   No interest as we auto-pay our bill via our US bank account....got a 30 day float, too.  

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1 hour ago, SunFan said:

Its time to buy a new(er) car again.

The last time I did it in 2016 I wrote a cheque for deposit to my Bancomer account. Took forever.

Can anyone recommend one of the new electronic transfer services and what they might charge. My loot is in a Canadian bank.

Thanks for any recommendations and advice.

SunFan

You are the second person today on this site that did not proof read their material before posting.  "Monet" - think you meant "Money".

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I have recently had great success using "Transferwise". Went from RBC to Intercam in less than 48hrs at a  better rate than any bank I've seen,....but they charge about an additional $10 per $1000. 

https://transferwise.com/

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Maybe Sunfan is selling one of his Monet paintings to buy the car. You didn' t think of that, now did you?

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I find the least costly way is to either increase the maximum funding I can put on one or two credit cards from my two Seattle B of A accounts  and use one or two credit cards to buy that car or as I did in 2014 when I bought my then new HONDA CRV from S&S Auto, lakeside. I wired US funds down from my Bank of American checking account to my Mexican bank account which happens, in my case, to be Actinver Bank in Ajijic. And then they wrote for me a certified check for the specified cost in pesos of my car from the seller, S&S Auto.

I got the best rate of exchange for my US dollars when I wired down US dollars to my Mexican account. Then my Bank converted the funds to Mexican pesos

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4 hours ago, EldonNova said:

You are the second person today on this site that did not proof read their material before posting.  "Monet" - think you meant "Money".

Thank you. How was my grammar?

SunFan

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5 hours ago, EldonNova said:

You are the second person today on this site that did not proof read their material before posting.  "Monet" - think you meant "Money".

My reading of it was that he was being tongue-in-cheek. How exactly would "After I sell my money" make any sense? Perhaps you have never heard of Monet and didn't get the joke?

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6 hours ago, EldonNova said:

You are the second person today on this site that did not proof read their material before posting.  "Monet" - think you meant "Money".

I understood it as Monet. It made sense. Money would not make sense.

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If you buy through S & S Auto there is no need to transfer money. Just write a cheque on your Canadian account. 

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I always check which option is best for transferring funds from up north and transferring same in pesos like I did when I bought my CRV from S&S Auto. If I had transferred my US dollars to my Actinver checking account I wouldn't have done as well as I was able to when I transferred funds to my Actinver brokerage account.

S&S also offered a good rate of exchange. I can't remember why because it was seven or so years ago but it was in my best interest to wire money to my Actinver Brokerage account and then pay in Mexican pesos to S&S auto. I remember that my worst choice would be the slightly lower exchange rate the Actinver Bank account offered than the Actinver Brokerage account.

And we are talking about a very small of money saved here. but a few dollars  or toonies saved is a few dollars or toonies saved.

Oh and for those of you don't know, there are two Canadian Loonies per one Canadian Toonie

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Well Sunfan if you're selling a real Monet you should be able to get quite the car.  I wonder if there's still a Lamborghini dealer in GDL.

Be sure and post a picture for us.  :D 

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If buying a Toyota they will not accept a credit card. I ordered a new Toyota a few months ago and the dealer absolutely  would not take a card.

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10 hours ago, EldonNova said:

You are the second person today on this site that did not proof read their material before posting.  "Monet" - think you meant "Money".

Gee, and I was hoping to make a bid for the Monet. Don't care for his work myself, but my wife is a fan. Oh well, I'll have to settle for the work of R. Crumb.

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Credit card fees in Mexico are very high. Minimum 4% so if a dealer would take a credit card he would give you that much discount for cash. Is a 30 day float or points worth that?

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22 hours ago, EldonNova said:

You are the second person today on this site that did not proof read their material before posting.  "Monet" - think you meant "Money".

And this is the second unnecessary critical comment you have made today. Take a break, please.

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