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New US check amt limit for Bancomer deposits


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I just returned from our local bank with eight $1000 checks I had made out to me from our Bank of America account. This has been my practice every four months or so when I make a deposit to our Bancomer account. We used to write one check for 8-10K but several years ago a limit of 1K per check was imposed. I was pissed off to learn that beginning last month a $500 limit per check had been put into effect! Do other local banks also have this limit? Is there a better way to move money from a US bank account here?

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There are a large number of posts on this board regarding the "best" way to move money from NOB to Mexico. Everyone has a favorite solution that is the best for their circumstances. Take some time and do some searches to find your best options.

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I never found it necessary to have a Mex bank account. My US bank accounts give access to ATM's worldwide. If you do open a Mex bank account, watch it like a hawk. I had one and evidently the balance fell below $1000mp and the bank ate the remaining balance down to zero with fees. I went in to close it and it had a negative $800mp balance so I just walked out.

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32 minutes ago, tomgates said:

If you do open a Mex bank account, watch it like a hawk. I had one and evidently the balance fell below $1000mp and the bank ate the remaining balance down to zero with fees.

So it's the bank's fault that you didn't bother to inform yourself of the terms of your account? 

That's like blaming a utility company for charging you interest on an overdue bill because you neglected to pay attention to the due date.

I've had a Bancomer account for 13 years and never had any problem with it.

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24 minutes ago, mudgirl said:

So it's the bank's fault that you didn't bother to inform yourself of the terms of your account? 

That's like blaming a utility company for charging you interest on an overdue bill because you neglected to pay attention to the due date.

I've had a Bancomer account for 13 years and never had any problem with it.

Some people never own up to the problem they caused to themselves.

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1 hour ago, mudgirl said:

 

That's like blaming a utility company for charging you interest on an overdue bill because you neglected to pay attention to the due date.

Not hardly. Bank contracts are pages and pages of small print, and even someone completely fluent in Spanish is never going to take the time to read them. Now if both of you tell me you always do, I'll be very impressed. I won't believe it, but I'll be impressed.

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1 hour ago, AndyPanda said:

Not hardly. Bank contracts are pages and pages of small print, and even someone completely fluent in Spanish is never going to take the time to read them. Now if both of you tell me you always do, I'll be very impressed. I won't believe it, but I'll be impressed.

"evidently the balance fell below $1000mp" If you check your statement monthly you wouldn't see your balance dwindle away 

There are minimum balance requirements to avoid monthly fees on checking/debit accounts  with most banks around the world. BBVA's minimum balance requirement is in very large type on their web page and account information brochures. 

I have been with BBVA (formerly named Bancomer) for many years. I have both credit cards, and a checking/debit account. Never had a problem. 

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5 hours ago, AndyPanda said:

Not hardly. Bank contracts are pages and pages of small print, and even someone completely fluent in Spanish is never going to take the time to read them. Now if both of you tell me you always do, I'll be very impressed. I won't believe it, but I'll be impressed.

It wasn't necessary to read through pages and pages of small print. My bank has a big poster on the wall listing all the different types of accounts and the minimum balance required so as not to incur service charges. 

This information is also available in simple to read brochures. 

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Maybe his does not have a big poster. Maybe he's near-sighted. Maybe he was busy. Maybe he was away. Maybe he wasn't the only one banking. Maybe he's not so good with Spanish. Maybe maybe maybe. Not for you to say, and certainly not for you to judge. And your phrase "simple to read brochures" is insulting.

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3 hours ago, AndyPanda said:

He learned the hard way and handed out a warning: a good warning

He didn't learn anything. He blames the bank and warns others to be wary of Mexican banks, for his own failure to pay attention to the terms of his account or to ever look at his bank statements. And all that cost him was $50.

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Bancomer cut me off because I withdrew too much cash within one year....I was hoping to get my foto on their wall of thiefs with my eyes blacked out lol. ( why the hell do they black out the eyes if they want them to be identified ?... morons)

HSBC from now on

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1 hour ago, mudgirl said:

He didn't learn anything. He blames the bank and warns others to be wary of Mexican banks, for his own failure to pay attention to the terms of his account or to ever look at his bank statements. And all that cost him was $50.

Agreed!

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It wasn't his Bancomer. It was BofA. I pay my rent with a check from BofA each month and my landlord received notice that he would pay a fee now for checks over $500. So now I write 2 checks each month. I think this is all coming from the bank trying to minimize the new reporting requirements. 

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9 hours ago, mudgirl said:

He didn't learn anything. He blames the bank and warns others to be wary of Mexican banks, for his own failure to pay attention to the terms of his account or to ever look at his bank statements. And all that cost him was $50.

They don't send out statements anymore and have not for years.   Only way unless you let them on your cell phone is to ask a banker and that usually requires a wait.

While they have branches everywhere they are a giant pain in the ### and they seem to be driving everyone to Intercam.   Disclaimer I have accounts at both banks.

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1 hour ago, sunnyvmx said:

It wasn't his Bancomer. It was BofA. I pay my rent with a check from BofA each month and my landlord received notice that he would pay a fee now for checks over $500. So now I write 2 checks each month. I think this is all coming from the bank trying to minimize the new reporting requirements. 

For people on BOA please read email sent recently  showing changes coming up in November.   For example now 5 bucks for most money transfers.   etc etc etc so now we will do one 5000 a month instead of three transfers to XE.  Sorry for the drift but the once great money transfer policy is going to be history soon.

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I agree with Mainecoons.  BofA Bank of America informed my neighbor recently that they will no longer be processing paper checks.  Anyone using checks may want to look into various ways of transfering funds electronically to prepare themselves for the future.  

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1 hour ago, Mainecoons said:

Banks don't want to do paper checks any more.  

Just got 50 more cheques from Intercam and we have no problem using cheques from Scotiabank Canada. We also still get statements sent by Scotia and I had to tell Intercam not to send hard copy statements to us because they were getting delivered to our casa.

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Textbook example of a highjacked thread. My original question was addressed by the first three posts and then the floodgate of inattention and burnt off dissatisfaction was opened--well, that's too harsh. I guess at the base it's simply a desire to engage in some social interaction...A sincere thanks to Artsnob for his on-point response; I'll give Intercam a go.

Edited by tombo
clarify
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