Citizen of the World Posted November 6, 2021 Report Share Posted November 6, 2021 Hi! please recommend your bank to get the monthly deposits? I am retired in Chapala. TIA Quote Link to comment Share on other sites More sharing options...
pappysmarket Posted November 6, 2021 Report Share Posted November 6, 2021 Why would where the deposit is coming from have anything to do with if the bank is a good bank? I'm confused. Quote Link to comment Share on other sites More sharing options...
NoVaDamer Posted November 6, 2021 Report Share Posted November 6, 2021 I can't recommend a Mexican bank, as I don't have one. I get my OPM retirement sent to USAA bank, and just access funds via ATMs here (charges are reimbursed) or use their direct transfer services for larger payments. There are other financial institutions (like Schwab) that have similar arrangements. I strongly recommend researching the concept of banking here in Mexico. Some accounts are not insured, and there are several claims of employee or institutional fraud dealing with expats. There are also the issues of currency devaluation and compliance with US requirements to notify the IRS about any foreign accounts. 4 1 Quote Link to comment Share on other sites More sharing options...
lakeside7 Posted November 6, 2021 Report Share Posted November 6, 2021 I would be cautious giving too much info on a sensitive issue to anyone! 1 1 Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted November 6, 2021 Report Share Posted November 6, 2021 If your desire is to open a Mexican bank account you need to recognize there are different types of banks here. Regular banks like BBVA, CitiBanamex, HSBC, Scotiabank, Etc. Those banks offer insured accounts, car loans, home loans, and credit and debit cards. They also offer apps to be able to move money and pay bills from your phone or computer. Investment type banks like Multiva, Actinver, Intercam, etc. that offer investments and savings accounts, some insured and some not. They have debit cards(that do not work for some things) but do not offer credit cards, car loans, home loans, etc. 1 Quote Link to comment Share on other sites More sharing options...
RickS Posted November 6, 2021 Report Share Posted November 6, 2021 12 hours ago, Citizen of the World said: Hi! please recommend your bank to get the monthly deposits? I am retired in Chapala. TIA I can recommend MY banking account for your OMB deposits .... I'll send you my routing and account numbers in a PM.... 😎 5 Quote Link to comment Share on other sites More sharing options...
lakeside7 Posted November 6, 2021 Report Share Posted November 6, 2021 47 minutes ago, RickS said: I can recommend MY banking account for your OMB deposits .... I'll send you my routing and account numbers in a PM.... 😎 Well she is looking for a partner so it seem you have met a good match, don't forget to send us all an invitation 1 Quote Link to comment Share on other sites More sharing options...
artsnob Posted November 6, 2021 Report Share Posted November 6, 2021 When is the party going to be with all your new found wealth, I am ready to Party Hardy... Quote Link to comment Share on other sites More sharing options...
Citizen of the World Posted November 6, 2021 Author Report Share Posted November 6, 2021 ha! I am retiring in Chapala, because with the montlhly deposit, I couldn´t afford to live in USA! I have to live here, so I need a Mexican Bank Account to get my pennies here ... I do not have an address in USA, even I do not have a phone with American number... Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted November 6, 2021 Report Share Posted November 6, 2021 Did you close your BBVA Compass account in the USA? (which became PNC) If so where are your funds being deposited now? Quote Link to comment Share on other sites More sharing options...
RickS Posted November 6, 2021 Report Share Posted November 6, 2021 3 hours ago, lakeside7 said: Well she is looking for a partner so it seem you have met a good match, don't forget to send us all an invitation Me thinks that she must have already found a partner as that is.... long gone from her Avatar! SHUCKS! 😂 Quote Link to comment Share on other sites More sharing options...
RickS Posted November 6, 2021 Report Share Posted November 6, 2021 1 hour ago, Mostlylost said: Did you close your BBVA Compass account in the USA? (which became PNC) If so where are your funds being deposited now? My account! You're too late. Quote Link to comment Share on other sites More sharing options...
daisy2013 Posted November 6, 2021 Report Share Posted November 6, 2021 You could open a HSBC from the states online. The key is to have a Skype phone number and of course a USA address. Easier than opening HSBC here. 1 Quote Link to comment Share on other sites More sharing options...
daisy2013 Posted November 6, 2021 Report Share Posted November 6, 2021 The cost of a usa Skype number (you chose the area code you want and it does not have to match the address) is well worth is. You can give this number to any north bank or investment institution Once you enter your HSBC application information, they call you to verify the info. That is all there is to it. 1 Quote Link to comment Share on other sites More sharing options...
MtnMama Posted November 6, 2021 Report Share Posted November 6, 2021 You can also open a forwarding account for mail and packages with a company like iShop or Sol y Luna. You then have a US address for the bank and it is useful for receiving mail. 1 Quote Link to comment Share on other sites More sharing options...
Bisbee Gal Posted November 6, 2021 Report Share Posted November 6, 2021 1 hour ago, MtnMama said: You can also open a forwarding account for mail and packages with a company like iShop or Sol y Luna. You then have a US address for the bank and it is useful for receiving mail. Most banks and other financial institutions use free USPS software that ID mail forwarding addresses as CMRA's. Commercial Mail Receiving Agents. They don't care for those addresses. Getting harder and harder for US expats between this and the Patriot Act. One ray of light are US Credit Unions. The OP is a Federal Retiree and likely eligible for one or more CU's to join. They don't care about foreign addresses or CMRA's. 1 Quote Link to comment Share on other sites More sharing options...
Bisbee Gal Posted November 6, 2021 Report Share Posted November 6, 2021 2 minutes ago, Citizen of the World said: Does it really work? Where is the Sol y Luna address in USA located? I know Ishop´s USA address is located in Texas, but I do not know where Sol y Luna´s is... Also Laredo, as is Handy Mail's. 1 Quote Link to comment Share on other sites More sharing options...
Citizen of the World Posted November 7, 2021 Author Report Share Posted November 7, 2021 On 11/6/2021 at 7:14 AM, pappysmarket said: Why would where the deposit is coming from have anything to do with if the bank is a good bank? I'm confused. Because USA does not want to send money directly to Mexican banks with no routing number... I guess most of the banks in Mexico have just swift code... but I would like to know. Usually there is a way to do things... Quote Link to comment Share on other sites More sharing options...
ibarra Posted November 7, 2021 Report Share Posted November 7, 2021 We have had an account at HSBC by Black Coffee for several years for one of our Social Security checks. No problems so far. We must maintain 2500 peso balance, no fees involved. 1 Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted November 8, 2021 Report Share Posted November 8, 2021 4 hours ago, Citizen of the World said: Because USA does not want to send money directly to Mexican banks with no routing number... I guess most of the banks in Mexico have just swift code... but I would like to know. Usually there is a way to do things... Regular banks like BBVA, CitiBanamex, HSBC, Scotiabank, Etc. Those banks offer insured accounts, car loans, home loans, and credit and debit cards and checks that require routing numbers. They also offer apps to be able to move money and pay bills from your phone or computer 1 Quote Link to comment Share on other sites More sharing options...
traderspoc Posted November 8, 2021 Report Share Posted November 8, 2021 Yes you can get over 4% interest here in Mexico banks on your savings, but you must keep a minimum balance. social security will deposit in a Mexican bank , check with your other pension if you have one , they may not deposit in a foreign bank visit the Mexican that's closest to your home here, 1 Quote Link to comment Share on other sites More sharing options...
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