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2mexico


Sep 6, 2005, 6:12 PM

Post #1 of 12 (6642 views)

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CCB, Banamex, and Citibank

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Now that Citibank owns Banamex, is there still an advantage to opening a California Commerce Bank (owned by Banamex) account? I have been intending to open the CCB account for the convenience of dealing in Mexico with Banamex as I progress toward residency there, but in order to open the account CCB tells me I must appear in Los Angeles in person at the bank - a big inconvenience as I live in Northern California.

I am wondering if opening a Citibank account (which I can easily do locally) will serve the same purpose now.


(This post was edited by stanwolf on Sep 6, 2005, 6:13 PM)



oldgringo

Sep 7, 2005, 2:58 AM

Post #2 of 12 (6600 views)

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Re: [stanwolf] CCB, Banamex, and Citibank

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I believe that Bank of America now has a relationship with Lloyd's in Mexico. Maybe someone SOB actually using BoA/Lloyd's and can comment.


mrchuck


Sep 7, 2005, 7:40 AM

Post #3 of 12 (6566 views)

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B of A owns Scotia Inverlat and Santander Serfin banks in Mexico

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Go to any Scotia Inverlat Bank or Santander Serfin Bank and use your B of A atm card free. Also money from any of these banks is transferred around quickly and easily.
In the USA, Bank of America branches all have brochures explaining this.
Just wonderful down here in Mexico,,,, saludos,,,mc


Jerry@Ajijic

Sep 7, 2005, 8:03 AM

Post #4 of 12 (6557 views)

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Re: [mrchuck] B of A owns Scotia Inverlat and Santander Serfin banks in Mexico

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CCB must have changed their rules or you need to talk to another person there. When I and many others opened our CCB account we did it all by mail.

We still have our monthly income sent to CCB instead of Banamex, where we also have an account, as we feel it is a little safer having our money insured by the FDIC. We use ATMs without a charge, to get cash here.


Gringal

Sep 7, 2005, 9:18 AM

Post #5 of 12 (6539 views)

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Re: [Jerry@Ajijic] B of A owns Scotia Inverlat and Santander Serfin banks in Mexico

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Ditto on your experience. We opened our account at CCB by mail and telephone before moving to Mexico a year ago. In the process of driving down here from Northern California, we went by way of L.A. Since we needed to deposit a large escrow check, we decided to do so at the bank's physical location. They exist on an upper floor in a high rise office building with one teller window. They may have changed the rules since last year, but it doesn't seem to be set up to have dealings in person at their one office.

We are also much more comfortable with having most of our funds in the U.S. and using Banamex as a convenience account. Here in SMA, there have been incidents involving Banamex ATM machines which would make one leery of having large sums deposited there. These situations were reported in our local paper a few months ago. As a result, Banamex replaced the machine outside their downtown branch with "swipe" machines, but all the others we've encountered are the old type.


mparrino

Sep 7, 2005, 11:27 AM

Post #6 of 12 (6512 views)

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Re: [stanwolf] CCB, Banamex, and Citibank

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I went to Citibank to inquire about this and was told that even though they own Banamex, there are no special services offered between the two. Find it hard to believe, so please let me know if you hear otherwise.
Marcia


tony


Sep 7, 2005, 1:03 PM

Post #7 of 12 (6489 views)

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Re: [stanwolf] CCB, Banamex, and Citibank

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Hi StanWolf,
I have a CCB account (opened the hard way) and have just opened an account with Citibank to take advantage
of their closer locations to me. I also live in N. Calif. Yes there are benefits depending on the type of account you
open. Cheaper to transfer money vs. wire, maximum $40 to transfer very large amounts etc. The account benefits are based
on deposit amounts, I happen to have a mortgage with them so I was able
to have a preferred customer account. I also saved on the waiting time it took to snail mail money down to LA, wait
for the check to clear, then transfer. In short, go for it. Tony

"We don't see things as they are, we see things as we are."


lakechapaladreamer

Sep 7, 2005, 1:09 PM

Post #8 of 12 (6487 views)

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Re: [stanwolf] CCB, Banamex, and Citibank

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Hi,

We have been in contact with California Commerce Bank and had been told recently that you could apply over the phone. Thinking things might have changed, I just called the US phone # 1-800-222-1234 and was told that you can complete the application for the "Friendship" (over 55) account over the phone. I called back to ask something I had forgotten to ask and spoke to a different rep and she also assured me that the phone is the way to go.


Gringal

Sep 7, 2005, 2:05 PM

Post #9 of 12 (6470 views)

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Re: [stanwolf] CCB, Banamex, and Citibank

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Unless your picture is unduly flattering, you don't look old enough to open a "friendship account" for those over 55.
They do have other accounts, but not for free.
If you do open an account at CCB and another at Banamex here in Mexico, you can "link" those accounts so that you can transfer funds from CCB to Banamex without paying the "funds imported" fees. All those transfers take is a phone call, once you've established the link.
One catch: Once CCB has a land-line "phone number of record" in their files, they will only do business on the phone with you from that number. I had a very frustrating experience once we moved into a permanent residence in Mexico because there was no phone line in the house (9 months' wait to get one) and my only phone was a cell phone. Not acceptable, because not "secure". The problem was solved by getting a Vonage VOIP phone, which they did accept.
Other than that, our experience with them has been very satisfactory.


olgringo33

Sep 9, 2005, 2:20 PM

Post #10 of 12 (6350 views)

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Re: [mparrino] CCB, Banamex, and Citibank

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In Reply To
I went to Citibank to inquire about this and was told that even though they own Banamex, there are no special services offered between the two. Find it hard to believe, so please let me know if you hear otherwise.


I have a Citibank account and I withdraw money from ATMs at Banamex with a Citibank check card. The Citi statement I receive says "each foreign-initated transaction includes a Citibank fee of 1%". They don't break out fees on each transaction on the statement. My most recent paper statement received only recently (till Aug 8th.) shows a withdrawal of $379.91 which I know to have been a $4000 peso withdrawal. Doing the math this comes out to $10.5288. Subtracting 1%from the $4000P and doing the math comes out to $10.4235. Since I don't know the exchange rate they were using on that day it's a moot point.

Perhaps someone stateside could make the call and clarify this better.

Jim


marquitos

Sep 17, 2005, 9:15 AM

Post #11 of 12 (6205 views)

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Re: [stanwolf] CCB, Banamex, and Citibank

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I have looked at the paperwork for CCB and sent some wires in the past but B of A assures me that I can now send up to $3000 per month to my Santander Serifin account free of charge.
No idea is dangerous unless it's the only one you have


1ajijic


Sep 18, 2005, 9:28 AM

Post #12 of 12 (6144 views)

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Re: [Gringal] CCB, Banamex, and Citibank

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You don't need to call to transfer money from CCB to Banamex. You can transfer up to $10,000 on line by going to your online account, pesos, enter the send account number, the receipt account number, the branch # and the dollar amount transferred. Both accounts must be in the same name. BTW there are free 800 numbers for both Mexico and the US.
http://www.newbeginningsmexico.com
 
 
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