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Elizabeth63

Nov 28, 2012, 5:51 AM

Post #1 of 13 (2654 views)

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Which bank do you use for investing in pesos?

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I've been looking around for a bank/investment firm at Lakeside to put my pesos in. I'm hoping to find a 'conservative' investment to get around 5% interest/year. Do you have any recommendations? I don't need any other services, like checking or debit cards, just a safe place to store my nest egg. I live here and plan on staying. Thanks.



johanson


Nov 28, 2012, 6:05 AM

Post #2 of 13 (2648 views)

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Re: [Elizabeth63] Which bank do you use for investing in pesos?

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I use Actinver which was called Lloyds for my (now finally) banking account and my brokerage acccount. I've used them since 1997.


cbviajero

Nov 28, 2012, 6:53 AM

Post #3 of 13 (2635 views)

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Re: [Elizabeth63] Which bank do you use for investing in pesos?

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I'm getting 5.5% with a 180 day "plan inversion" at Banco WalMart.
I wouldn't keep my whole nest egg in pesos though.


playaboy

Nov 28, 2012, 7:17 AM

Post #4 of 13 (2627 views)

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Re: [Elizabeth63] Which bank do you use for investing in pesos?

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Be careful. If you get 5% on your peso account and the peso drops 7% against the USD over the same time frame, you just lost 2% in value.


cbviajero

Nov 28, 2012, 7:20 AM

Post #5 of 13 (2624 views)

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Re: [playaboy] Which bank do you use for investing in pesos?

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That was my point about not keeping your whole nest egg in pesos.


Elizabeth63

Nov 28, 2012, 7:22 AM

Post #6 of 13 (2621 views)

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Re: [playaboy] Which bank do you use for investing in pesos?

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But I have no interest in going back to the dollar, so it really doesn't matter to me what the conversion rate is.


tashby


Nov 28, 2012, 7:47 AM

Post #7 of 13 (2610 views)

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Re: [Elizabeth63] Which bank do you use for investing in pesos?

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Multivalores


playaboy

Nov 28, 2012, 8:04 AM

Post #8 of 13 (2605 views)

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Re: [Elizabeth63] Which bank do you use for investing in pesos?

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It will matter when the prices go up because the peso is worth less. If a product at Wal-Mart USA is $10 USD in the States than it will be 130 pesos today at Wal-Mart Mexico. If the peso drops in value against the dollar, say 15 to 1, that same product still costs $10 in the USA and will cost 150 pesos in Mexico.


esperanza

Nov 28, 2012, 9:11 AM

Post #9 of 13 (2588 views)

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Re: [tashby] Which bank do you use for investing in pesos?

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In Reply To
Multivalores

Ditto, since 1999 and very satisfied.

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DavidHF

Nov 28, 2012, 10:16 AM

Post #10 of 13 (2571 views)

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Re: [esperanza] Which bank do you use for investing in pesos?

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IMHO MultiValores and Banco MultiVa are the best available lakeside. We live in a Pesos economy and Pesos are always Pesos. Get over the exchange rate thing concnerning any money or investments you have here. BTW, the Peso is set to strengther not weaken! Notice how it gets a bit stronger each time the DOW goes up?


cbviajero

Nov 28, 2012, 10:46 AM

Post #11 of 13 (2565 views)

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Re: [DavidHF] Which bank do you use for investing in pesos?

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IMHO MultiValores and Banco MultiVa are the best available lakeside.

Why,are they paying better than the guaranteed 5.5% offered at Banco Wal-Mart?
I remember when my account exec at Lloyds was suggesting I invest more in peso accounts for the higher interest rates,the peso was at 10 to 1,less than 2 years later it was at 15 to 1,thank God I didn't follow their advice.


(This post was edited by cbviajero on Nov 28, 2012, 10:52 AM)


DavidHF

Nov 29, 2012, 6:12 AM

Post #12 of 13 (2491 views)

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Re: [cbviajero] Which bank do you use for investing in pesos?

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I've been with MultiValores for over 7 years and rec'd excellent returns and superb service. I tried HSBC for a checking account before Banco MultiVa existed, the customer service was non-existant. Friends had accounts at Lloyds amd taxes were improperly withheld. They were only able to recoup the previous 90 days. All they got was an apology for the errors prior to that but no refund. As for Walmart, I don't do business there and would not consider using their bank even for a slightly higher interest rate. YMMV.


johninajijic

Nov 29, 2012, 8:32 AM

Post #13 of 13 (2469 views)

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Re: [tashby] Which bank do you use for investing in pesos?

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Ditto. Been with MULTIVA for 11 years and very satisfied.
 
 
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