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Intercam Incoming International Wires


fekago7493
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Hi,

Has anybody used an Intercam checking account to receive international wires? Seeing their fee brochure of their accounts: https://www.intercam.com.mx/wp-content/uploads/2020/08/Comisiones_Cuentas-MXN-USD31720.pdf

It seems they charge 100 USD + IVA for each incoming wire. Anybody can confirm? 

Maybe if you have investments in their brokerage they waive a lot of the fees?

 

Thank you

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7 hours ago, slainte39 said:

I think that applies to foreign currencies other than the US dollar.

Maybe. I don't use US dollars but Canadian ones and transferring money from Canada to my Mexican bank account is  is free. 

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I have used "Transferwise" numerous times to my Intercam account. The money gets to them already converted into Peso, so no charge from Intercam. Transferwise gives the best posted rates, but make their money by adding a small flat service fee. I put enough in to have a few Cedes set up and like that I can only carry my Intercam card. If it were to get lost or stolen, I can replace it a lot faster and easier than any of my NOB cards. I am very happy with Intercams service as well.

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I deposit a Scotia cheque in Canadian $'s to my Intercam account.They told me that I would get a better exchange rate if I did electronic transfers in Canadian dollars. There is no fee added on by Intercam so I would suspect that there isn't for an electronic transfer when they told me that I would get a better deal electronically.

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1 hour ago, Whipstock said:

It would be interesting to hear if the rate transferwise gives is more or less? You can pull up the rates on their site anytime for comparison.

Not an accurate source if you have an account, the exchange rate is much lower than their every day posted rate and I negotiate with my account exec  for the best I can get that day. Nothing like being able to deal with an actual human especially when it comes to banking.

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I do not see why you couldn't negotiate your best deal;.......then compare it instantly online to see which is actually a better deal?

I've tried both ways, and was simply saying what I've found to possibly be a bit better all in cost in the end. 

 

 

 

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On 10/6/2020 at 6:42 PM, fekago7493 said:

Hi,

Has anybody used an Intercam checking account to receive international wires? Seeing their fee brochure of their accounts: https://www.intercam.com.mx/wp-content/uploads/2020/08/Comisiones_Cuentas-MXN-USD31720.pdf

It seems they charge 100 USD + IVA for each incoming wire. Anybody can confirm? 

Maybe if you have investments in their brokerage they waive a lot of the fees?

 

Thank you

As a client you probably have certain privileges, if you are interested make an appointment and talk to one of the Officers, they all speak English and are very helpful. I have received Intl. wires, never paid any fee at the incoming bank however the outgoing bank charges 50 CAD$. To avoid any bank charges of this kinds I use the old fashioned check which I deposit as needed for my cash flow. No idea how this works in the US who's banks are less regulated than in Canada.

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On 10/7/2020 at 8:51 AM, happyjillin said:

I deposit a Scotia cheque in Canadian $'s to my Intercam account.They told me that I would get a better exchange rate if I did electronic transfers in Canadian dollars. There is no fee added on by Intercam so I would suspect that there isn't for an electronic transfer when they told me that I would get a better deal electronically.

Canadian banks in general charge you 50$ to send an electronic payment and most have a restrictive amount they can send. Putting in your personal check is the cheapest way, usually fee free at both ends.

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On 10/10/2020 at 10:46 AM, joco69 said:

Canadian banks in general charge you 50$ to send an electronic payment and most have a restrictive amount they can send. Putting in your personal check is the cheapest way, usually fee free at both ends.

Most Cdn banks have a FREE global money transfer. Here's Simplii Financial web page about it:

Simplii Financial Global Money Transfer

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