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Mar 14, 2017, 2:46 PM

Post #1 of 3 (11633 views)


New bank account

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Today I opened a checking/savings account with Bancomer. All went well, except that I seemed to be required to open a "Seguro Hogar" account as a requirement, even though I do not own a home, but rent an apartment. The monthly fee is 285 pesos, and I was told it would be for 6 months only - although I see no mention of that on the documents. Can anyone shed some light on this requirement, and is really just for 6 months? Muchas gracias amigos!
"Don Miguel"


Mar 15, 2017, 10:13 AM

Post #2 of 3 (11591 views)


Re: [georgemichael] New bank account

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I recently opened an account "cuenta base" with Banamex. No minimum requirements, gives me a debit card, and is part of Citibank, where I also recently opened an account (in US). In both banks I was shown how to make easy transfer of my retirement money from Citi to Banamex. Earlier I had opened an account with Scotiabank, more complicated, with minimum requirement of $3,000 M.N., and my nationality was erroneously entered as Polish. They were saying that since I was born in Poland, their system automatically defaulted to Polish nationality. Mainly for that reason I closed that account without ever using it, and went to Banamex, where they entered "nacionalidad Mexicana" simply based on my INE, without even asking any questions.


Mar 24, 2017, 5:00 PM

Post #3 of 3 (11471 views)


Re: [georgemichael] New bank account

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Bancomer did that to me in 2013 -- though the monthly fee was $135 back then. I thought the six month requirement was basically a racket, because I already had home insurance with another company. I chalked it up to things I can't do anything about in Mexico.

BTW, watch your minimum balance with Bancomer. Below $8,000 during the month and they sock you with a $450 service fee.

Another caution: If you get a Bancomer credit card, know that the monthly statement either never arrives, or arrives after the interest-free due date. You must monitor your statement online and be sure to pay before the 20-day interest free grace period expires.

Now that I know how to navigate their rules and avoid these charges, I'm pretty happy with their service and convenience. Their mobile banking app (at least the Android version), works very well, although some people have problems with the initial registration of their account with the app.

-- Mark
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