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Zorba

Apr 22, 2010, 5:58 AM

Post #1 of 10 (8585 views)

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Cashier's cheques ?

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Hi, Im not in Mexico at the moment so cannot investigate this for myself so I am wondering if someone has done this before.

I need to take a large amount of cash from one part of Mexico to another and it is a rather long drive with several "retenes" along the way by police, military, etc. I dont want to wire it because I would prefer that my local bank does not know that I have such funds (for obvious reasons).

However, I also would rather not be carrying a big bag of cash.

Is it possible in Mexico to get some sort of cashier's cheque that I can hold onto for the drive and then cash out at the other end?

If so, what do I need to get it and to cash it? When I cash it, will I be charged the tax that is imposed on cash deposits even though I am not depositing it anywhere (just cashing the cheque).

Any advice on this?



Tab


Apr 22, 2010, 6:28 AM

Post #2 of 10 (8568 views)

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Re: [Zorba] Cashier's cheques ?

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I have brought a bank draft from Canada to Mexico before. It was in pesos and I was able to deposit it into my bank account in Mexico. Since the currency was in pesos, the intermediary bank on the draft was "Bancomer" and we had to go to that bank to have it verified first. If you intend to cash it, you will probably have to go to the "intermediary bank" stated on the cheque.


rockydog85251

Apr 22, 2010, 7:18 AM

Post #3 of 10 (8550 views)

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Re: [Zorba] Cashier's cheques ?

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Check out Intercam, Casa de Cambio......I had my real estate clients use them for transferring monies from NOB to either a bank or another person here in Mexico. I believe they have a lot of offices throughout Mexico. It is very simple to do, plus no fees involved. They also offer a good rate of exchange.
Willie


robt65

Apr 22, 2010, 7:36 AM

Post #4 of 10 (8544 views)

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Re: [Zorba] Cashier's cheques ?

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I think you all missed his point. He is wanting to take cash from one part of Mexico to another part of Mexico. I don't think he is looking to take cash from NOB into Mexico. Is that about it Zorba, or am I not correct?

I think if he has a Mexican bank account it would not be difficult for him to open another Mexican bank account with a small amount of money and then after he has established his new account, he can then go to that bank and make such arrangements to either transfer the money or get some sort of guaranteed draft from them.

Rolly or Esperanza or some of the other "oldies" might know more about such things. Especially those who may have a business in Mexico.

Robt65


Zorba

Apr 22, 2010, 8:32 AM

Post #5 of 10 (8520 views)

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Re: [robt65] Cashier's cheques ?

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Yes, exactly. I am looking to move the money within Mexico from one city to another.

Basically, I transfer the money from Canada to my Mexican account in X city. From there, I want to withdraw it from that account and put it into a cheque and the move it to Y city where I cash it without actually depositing it in my Y city bank account.

The casa de cambio idea would be great if that works. I could just show up with the cash and get a cheque or draft or whatever and then cash it at the other end without having to deposit it into a bank account in Y city.

The reason for this is that Y city is a relatively small town and we all know how that goes. I certainly do not trust the local tellers, bankers, etc. to keep my financial status private. This in turn could cause all kinds of serious and not so serious problems.

Thanks for the suggestions!


esperanza

Apr 22, 2010, 8:50 AM

Post #6 of 10 (8512 views)

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Re: [Zorba] Cashier's cheques ?

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Intercam is a casa de cambio, but it also offers a good deal more in services. That option sounds to me like the best.

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gpkgto

Apr 22, 2010, 10:29 AM

Post #7 of 10 (8492 views)

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Re: [Zorba] Cashier's cheques ?

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If this matters, I believe that a Mexican cashiers check can only be deposited into an account in the exact name of the person whose name is on the check--i.e. it cannot be cashed directly--so two bank accounts would be needed--one to get the check from and one to deposit it into. Therefore, both banks will know about the amount of money you have.


Zorba

Apr 22, 2010, 10:40 AM

Post #8 of 10 (8487 views)

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Re: [gpkgto] Cashier's cheques ?

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Well, I will investigate this when I get back and post it if it is useful to anyone else.


sparks


Apr 22, 2010, 12:02 PM

Post #9 of 10 (8466 views)

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Re: [Zorba] Cashier's cheques ?

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With Intercam your transfer money from your bank to your Intercam account (up north). You can then go to any Intercam branch office and they will give you a bank draft

Sparks Mexico Blog - Sparks Costalegre


Marlene


Apr 23, 2010, 11:49 AM

Post #10 of 10 (8358 views)

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Re: [Zorba] Cashier's cheques ?

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You may also want to check into Postal Money Orders here in Mexico. They offer that service, but I haven't used it personally, so don't know the rules re maximum amounts, etc. It may be on their website.
 
 
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