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JohnnyBoy

Oct 31, 2006, 3:12 PM

Post #1 of 32 (4659 views)

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Citibank/Banamex ATMs

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Hello Everyone,

I have searched the posts of the last month and have found nothing new on this topic. So I thought I would ask those of you who are using Citibank and Banamex, particularly for the purpose of using the Banamex ATMs without incurring transaction fees.

I went to a fair amount of trouble to open a Citibank account with the types of accounts that would make it possible for me to transfer money to a Banamex account (that I will open when I get there), as well as to be able to use Banamex ATMs with my Citibank ATM/Debit card without the machine, or either bank, charging me a transaction fee for making a withdrawl.

On my my recent Citibank statement, in the upper third of the first page, surrounded by a heavy outline, is a notice that all transactions conducted with a Citibank ATM/Debit card outside the USA, purchases, cash withdrawls, whatever, will be subject to a 3% transaction fee.

Have any of you using a Citibank ATM/Debit seen this yet? I am hoping they really meant to say that this 3% transaction fee would apply as they stated with the exception of using it at a Banamex ATM machine.

I have written a letter to Citibank Corporate Customer Service but have had no reply.

I called the Citibank branch where I opened the accounts. The person there said he would "take care of it." Sometimes in the Bay Area is it not possible to speak with a representative at the entity you are dealing with who speaks totally fluent English, who understands the slight nuances that you might try to express. This person lets me make the statement and then either agrees that that is correct, or disagress, or says not to worry about it. He definitely said a Banamex ATM machine IS a Citibank machine and therefore there would be no 3% transaction fee. If any appeared, he would take care of it. Which is not going to work for me once I am in Mexico. Can't be calling him all the time to take care of it.

So, just wondering if any of you have any word about the reality of this situation. I will be in Mexico house-hunting in January and will test it out. If there are charges, that will leave me only a couple of months, along with everything I will have to do, to get my Citibank accounts closed and to find some other arrangement. That is why I am "obsessing" about this now. So please don't tell me again to just move to Mexico and see how things work.

Thanks to all.

sparks

Oct 31, 2006, 3:54 PM

Post #2 of 32 (4640 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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Maybe you need accounts in both banks before they see you differently ?? Not sure if CCB still exists but they were probably easier to deal with than Citibank. Large banks are a pain in the ass when you have problems. I only have a WAMU account as a backup.

My solution was that my credit union does not charge for international withdrawals ... but I still pay the 1% conversion rate.

Sparks Mexico - Sparks Costalegre

Judy in Ags

Oct 31, 2006, 5:52 PM

Post #3 of 32 (4612 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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John, what is the date of your "recent" statement. Our most recent statement is for the period of August 6 through September 6, 2006. We have no such notice on that statement.

I really have experienced no difference in dealing with Citibank, as opposed to California Commerce. Citibank has been as good about taking care of our concerns as CCB was.

John, I'd suggest you get a IConnectHere or Skype account so that you can call long distance CHEAPLY. We've used IConnectHere for almost 4 years and make all our business calls, with long waits, etc. It's a very economic way and takes a lot of stress out of the waiting time!

Please let us know what you find out.

(This post was edited by Judy in Ags on Oct 31, 2006, 5:56 PM)

JohnnyBoy

Oct 31, 2006, 7:30 PM

Post #4 of 32 (4591 views)

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Re: [Judy in Ags] Citibank/Banamex ATMs

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Judy,

The statement I am referring to covers the period: Sept 15 - Oct 15, 2006.

And as I re-read the notice I have written about, I realize this new policy will not take effect until December 2, 2006. So I did jump the gun asking MexConnect posters about this. People won't start noticing the effect of this new policy until after 2 Dec '06, and probably not until well into January '07.

Here is the exact text of the notice:

Foreign Transactions (Point of Sale, ATM, and Other transactions):
---------------------------------------------------------------
Effective December 2nd, 2006, we will impose a transaction charge equal to 3% of
the transaction amount (including credit and reversals) for each transaction
(U.S. or foreign currency) that you conduct outside the 50 United States or Puerto
Rico other than cash withdrawals at Citibank ATMs, which will not be subject to a
transaction charge.

So it really boils down to whether or not Citibank considers a Banamex ATM to be a Citibank ATM.

Those of you who use the Citibank/Banamex thing can wait and see, as I will. I will be in Mexico for a couple of weeks in January and will be sure to test it.

Thanks for the hint about the long distance phone service. I will definitely check it out.

Judy in Ags

Oct 31, 2006, 7:48 PM

Post #5 of 32 (4584 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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I feel confident that Banamex ATM's are (for these purposes) the same as Citibank. In fact. I've never seen a Citibank ATM down here. If only cash withdrawals are affected, we will have no problem. We pay all our Mexico bills with cash. We don't even have a Mexico bank account.

When we first got here we had some money in a Mexican account and got charged $100 because there was no activity on the account for a while.

Bloviator

Nov 1, 2006, 6:08 AM

Post #6 of 32 (4545 views)

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Re: [Judy in Ags] Citibank/Banamex ATMs

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We have both a Banamex and Citibank account for the same reason John does. We are careful to use Banamex ATMs. Each time we use one, we are finding a charge of somewhere between $2.70 and $2.75, which I assume is a 1% charge.

My wife called our local (Escondido, CA) Citibank representative, who assured us that she would have the charges removed. I checked this morning and so far they have not been removed.

I would transfer one lump sum each month to Banamex and use our Banamex ATM card, but if we are going to be charged 3% for all transactions, that is no solution.

Another problem with using Citibank/Banamex is that using services at the local (Chapala) branch is a total pain in the zotz. I stand in line while every Mexican who has or ever had an account crowds in line ahead of me. When I finally get served, something always comes up that requires more attention.

The bank offered to pay my phone and electric bills when I opened the account. Unwittingly, I accepted. They did not pay the bills. Luckily, I checked on the cut-off day for both and then paid them myself. When I went to the bank to have this non existent "service" cancelled, they refused unless I brought in my FM3.

I have on-line access to all my bank accounts. Getting access to my Banamex account has not proven possible. Granted, I have only made half-hearted attempts to date, so it is quite possibly my fault, though half-hearted attempts got me access to all my other accounts.

Judy in Ags

Nov 1, 2006, 8:00 AM

Post #7 of 32 (4524 views)

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Re: [emdlyman6500] Citibank/Banamex ATMs

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We had a problem with those charges way back in 2005 before California Commerce Bank became Citibank. We called and they were removed. They appeared time or two, but they were removed without our having to contact them. We have found the people at the 1-800-222-1234 (calling from IConnectHere) or the 01-800-111-1234 (calling from our phone here in Mexico) to be very helpful always. I believe those charges were in error and will be removed. If you haven't tried these numbers, please do. I am assuming that you have an Amistad account with Citibank(Banamex USA). If not, we're probably not on the same page.

Your experience confirms that our decision to not have a Mexican bank account was a good one.

(This post was edited by Judy in Ags on Nov 1, 2006, 8:02 AM)

tony

Nov 1, 2006, 8:42 AM

Post #8 of 32 (4502 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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Hi John,
My experience with Citibank has been disappointing also. I already had a California Commerce account. When Citibank
bought them, it seemed logical to open an account so I could have the same benefits as Calif Comm but at a closer
location (I am also in the bay area). When it came time to transfer money from Citibank to Banamex, they charged us.
Believe it or not, I have to still have to put money in my Calif Comm account then transfer it to Banamex in order
to not be charged fees. Strange. tony

PS I would not blame this on lack of fluent english speakers. B of A charged me fees for a service I never ordered.
They insisted I did order the service, when I asked them to show me when I authorized it, they said I must have since they were
charging me.!?!? They refused to refund my money claiming they didn't have records showing how long they had
been charging us. This is the story they gave my Mexican wife, I verified it ...

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

Anonimo

Nov 1, 2006, 8:43 AM

Post #9 of 32 (4502 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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Hi, I thought I posted a Reply to this last night, but I must have goofed, as it isn't here!

Here's what we did. It may vary for you.
We set up an Amistad Account with California Commerce Bank, (now Citibank Banamex USA). When we first arrived in Mexico, we'd use the ATM card in whatever ATMs, and we would be assessed a transaction fee.
After several futile attempts at understanding the account options offered by Banamex Mexico, a very helpful bank manager in Morelia helped us open a checking account: we were issued a Banamex Mexico ATM Debit card, which we use religiously ONLY at Banamex ATMs. (We can also use it at big stores like Costco or Wal Mart without having the store add surcharges as when a credit card is used.)
Amazingly, we are charged 45 pesos a month to maintain this account. PAYING the BANK to have an account is an idea that takes some getting used to, but this type of Banamex Mexico account was the best and easiest for us.

Now that we had our Banamex Mexico account, we then had our accounts linked to our Citibank Banamex USA account. This step removed any transfer fees when transferring funds from the NOB to the SOB via Banamex USA.
The transfer can be accomplished online via the Banamex USA website, or you can call them. We used Skype to do this at first, but it soon proved easier just to do it via the Banamex USA website.
Overall, it has proved very satisfactory, although difficult to comprehend at first

As to people getting ahead in lines: we are fortunate that the Morelia and Patzcuaro branches of Banamex have numbered ticket machines. You take one when you enter, and when the number is flashed on an illuminated board, it also tells you which teller window to go to.

Bill paying: while it is possible that automatic bill paying is a service offered at some banks, my understanding only that we had the convenient option to pay the bills ourselves at a teller window, rather than going to various offices such as CFE, TelMex, etc.

Saludos,
Anonimo

Oscar2

Nov 1, 2006, 11:03 AM

Post #10 of 32 (4479 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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Quote

Effective December 2nd, 2006, we will impose a transaction charge equal to 3% of
the transaction amount (including credit and reversals) for each transaction
(U.S. or foreign currency) that you conduct outside the 50 United States or Puerto
Rico other than cash withdrawals at Citibank ATMs, which will not be subject to a
transaction charge.

So it really boils down to whether or not Citibank considers a Banamex ATM to be a Citibank ATM.

I phoned my Citibank-Banamex office NoB and revealed verbatim the above post and his assured response was one that they routinely “now” just take it off your account. ?

I believe this in reference to the Citibank ATM card. Now when you open a Friendship (Amistad) Account and while in Mexico, open a Citibank-Banamex USA linked account with Banamex-Mexico, I believe they will issue you a new Banamex-Mexico ATM card. Question is, if that card is used exclusively once you’ve transferred funds from Citibank-Banamex USA too Banamex-Mexico does this circumvent the 3% charge?

sfmacaws

Nov 1, 2006, 12:33 PM

Post #11 of 32 (4458 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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John, I don't know for sure if this is related to the 3% charge you listed, this whole thread is pretty confusing, but I received a notice similar to that from my credit union. It said that MasterCard which was the logo on my ATM card that allowed it to be used as a credit card as well as a debit card, was going to charge 3% for all currency conversions. So, even if used at a bank as a debit card the conversion went through MasterCard and would be charged a currency conversion fee. I went in to the CU while in NoCal this year and got a new debit only card without a MC logo and - according to my CU - without the fees charged by MC. I'm still NOB but I was assured that the CU would not charge me to convert dollars to pesos (they never have before) and that I would not be acquiring the MC fee that was due to start late this year. The only difference is that I cannot use this debit card in a store that puts the transaction through as a credit card purchase, ie doesn't have a debit/pin machine. It might be worth asking your bank if the charge actually originates from them or from MC or Visa.

There is an added security advantage to this, if stolen the card cannot be used at all without a PIN. I had intended to do this anyway for that reason but never got around to it. Paying MC 3% of to get my money convinced me to take care of it.

Jonna - Mérida, Yucatán

Moisheh

Nov 1, 2006, 2:31 PM

Post #12 of 32 (4430 views)

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Re: [sfmacaws] Citibank/Banamex ATMs

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And we thought that American/ Canadian Banks were robbers ! I hate all Mexican Banks, but especially: Banamex, Bancomer and Santander/Serfin. The word service is not in their dictionary. I opened up an account at Scotiabank and so far they have been OK. You should not be charged the 3% curency conversion fee when using a debit card to withdraw money. This transaction has nothing to do with either Visa or MC. It does not go through their system. Any clerk who tells you otherwise is a liar. It does not matter what the logo is on your card. You are accessing your bank account. This is not a credit card transaction. However if you were to use this card to make purchases you would be dinged.

Moisheh

JohnnyBoy

Nov 1, 2006, 2:43 PM

Post #13 of 32 (4424 views)

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Re: [Judy in Ags] Citibank/Banamex ATMs

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Is this Amistad account that several of you are talking about a Citibank thing or a Banamex thing?

I really tried to cover all the bases when I opened my Citibank back accounts, explaining that I was doing it for one reason and one reason only: no fees, and that if it failed to work for me, I would close the accounts. The reason was actually two-fold: the ability to make fee-free money transfers to an eventual Banamex account and fee-free withdrawls from Banamex ATMs.

Of course, maybe the person who opened the accounts got some sort of credit for opening them and it did not matter to him if I turned right around and closed them again.

I agree that the thread has become a little confusing and I accept blame for most of that. This new 3% transaction fee is not scheduled to go into effect until December 2, 2006, so I jumped the gun a bit.

Secondly, logic would dictate that since the message is talking about "foreign transactions," i.e. transactions occurring outside the 50 states and PR, and at the same time says the new policy will not apply to transactions at Citibank ATMs, and since there are no Citibank ATMs in Mexico, they must mean their Banamex ATMs. That transactions performed with a Citibank card at one the Citibank-owned ATMs outside the US and PR would not be subject to the fee.

As I said before, I will test it when I get there.

And I appreciate the idea about getting a non-credit-card-logo'd ATM/debit card. My credit union and a couple of banks have tried to teach me the difference between an ATM card and debit card. And I do know the difference. I just get confused about which one is which. I think the card with the VISA or MC logo is an ATM card, while the plain one, with no VISA or MC logo is the debit card. So, I am going to ask both Citibank and my credit union for a debit card...no logo...and test that as well. However, Moisheh's logic makes sense to me, too. Using an ATM card at an ATM machine is simply not a credit card transaction and should be subjec to any credit card company's transaction fees.

I will probably only ever make ONE sizeable money transfer and that will be to buy a house. Thereafter I just want a way to get cash from an ATM machine to live on. If all else fails, I will get my cash in Tucson when I go, as I expect I will go frequently, and live with the danger and uncertainty of having several hundred dollars in my possession most of the time. And screw the cards and banks.

(This post was edited by JohnBleazard on Nov 1, 2006, 2:49 PM)

ignacio

Nov 1, 2006, 3:32 PM

Post #14 of 32 (4409 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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You may be happy to know that your funds in a Bank Of America account in the USA CAN be withdrawn at the Santander-Serfin or Scottia Bank ATM's without a single charge of any kind.

Judy in Ags

Nov 1, 2006, 3:55 PM

Post #15 of 32 (4400 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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John, the Amistad account we opened (in 2003) was with California Commerce Bank (Los Angeles), which is now Citibank (Banamex USA.

As to our ATM cards, they have no mentioned of Visa or Mastercard as they are not credit cards, but ATM cards solely.

The new ATM cards still say California Commerce on the front, but on the back both Banamex and Citibank ATM's are listed.

I know.....it's confusing.

Papirex

Nov 1, 2006, 4:24 PM

Post #16 of 32 (4391 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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We use my non-profit credit unions ATM cards for all cash withdrawals here in Mexico. Being a non-profit institution, there are never any ATM fees levied in The U.S. If we use them at another banks ATM in The U.S. there is usually a fee levied by the other bank though. Other credit unions in the same credit union league do not levy a fee if we use one of their ATMs in The U.S.

Mexican banks usually do levy a fee of $7 Pesos if we use one of their ATM machines though. That is only about 65 US Cents though so it is negligible as far as I am concerned. They used to conceal that charge, but a few years ago they were required to reveal it on the ATM screen before you can finalize a withdrawal.

Most, if not all U.S. financial institutions do levy a conversion fee to withdraw money from your Dollar account in Pesos here. It is not a transaction fee, but a fee to convert your Dollars to Mexican Pesos. That fee used to be concealed too. It took me a couple of years to figure out why the amount withdrawn from my account whenever we used an ATM here was higher than it should have been based on the exchange rate for any given day.

I finally found the answer hidden in a section labeled “international transactions” on my credit unions website. They explained that for international transactions, they used the Visa International money exchange service. Visa charges 1% of the amount of each transaction as their fee. My non-profit credit union then passes that charge on to me.

As a result of a court decision a few years ago, all financial institutions are now required to reveal that charge, and the amount. Now, when we make an ATM withdrawal that fee is shown separately from the money withdrawn, and clearly labeled as a conversion fee levied by Visa on our online, or paper statement.

The 1% exchange fee is negligible for me, it would be nice not to have to pay it, but since the international conversion fee is a level 1%, it doesn’t matter to me whether we take a large withdrawal or a small one; the only variable is the 65-cent fee here in Mexico each time we use an ATM.

Managing our money here in Mexico is a challenge that we each must solve on an individual basis. If anyone is interested in joining a credit union, just about everyone is eligible to join one. To find out if you are eligible, click on this link: http://www.howtojoinacu.org/

This link is for nationwide service center locations where you can do many things with your credit union account, deposits, withdrawals, money orders, etc. when in a different state, etc. http://www.cuswirl.com/locations/index.htm

For what I think is the best currency converter, click on this link: http://www.oanda.com/convert/classic I think it is the best because it gives the hourly exchange rate, which fluctuates throughout the business day. You may set the exchange rate at the interbank rate with no additional percentage added, or rates of plus 1, 2, 3 %, etc. You may also look up the exchange rate for a previous date if you want to. I have customized it to show only U.S. Dollars and Mexican Pesos in my computer. I can still go back to their home page if I want to see what the exchange rate is for Rubles, or Zlotys.

Rex

"The supreme happiness of life is the conviction that we are loved" - Victor Hugo

(This post was edited by RexC on Nov 1, 2006, 6:35 PM)

sfmacaws

Nov 1, 2006, 5:45 PM

Post #17 of 32 (4368 views)

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Re: [RexC] Citibank/Banamex ATMs

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Moiseh, I think you are wrong about it not mattering which card you have. I think Rex hit on it that if there is a Visa or MC logo then the bank or store may use the Visa or MC currency exchange program to convert from dollars to pesos. If it is solely a debit card then it can only be used in the interbank exchange and the charge will depend on your bank. My CU does not charge, most banks do and Visa/MC definitely do and they are raising the rate to 3% from 1%. It wasn't a clerk at my CU that explained it, it was someone who deals with this all the time. I think she knew what she was talking about. She said that the card may not work everywhere because they do have to be subscribed to this interbank exchange. So far, it's worked at all banks and most stores that have a PIN machine.

Yes, it's the difference between a debit and an ATM card. I think the debit is what I now have, requires a PIN and cannot be used as a credit card, but I could have it backwards.

Jonna - Mérida, Yucatán

S & C

Nov 1, 2006, 6:18 PM

Post #18 of 32 (4355 views)

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Re: [sfmacaws] Citibank/Banamex ATMs

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HSBC, which is #1 or 2 as far as world wide size goes, has a few branches in California and and other west coast states and is also the 3rd largest bank in Mexico. (Go on their website to find branch locations).

I use their ATM card at HSBC branches in Mexico
and do not get charged a transaction fee. If I use their Master Card credit card I get charged 1% rather than the normal 3% other cards charge.
I haven't opened an account in Mexico yet and don't know about transferring funds etc, but I know the ATM cards work great for free.
Stan

Moisheh

Nov 1, 2006, 7:57 PM

Post #19 of 32 (4333 views)

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Re: [sfmacaws] Citibank/Banamex ATMs

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Jonna: I went online and accessed my Wells Fargo account. I picked an ATM withdrawl that was on 10/05/06. I took out 4000 pesos. My account shows a charge of $361.88. I went to Oanda ( I like xe.com) and used their figures for that date. Interbank rate was .09039. That computes to $361.56. Close enough for me. I have sent a mesage to Wells Fargo asking them if they use the Visa network or some other sytem and if they apply any % surcharges. I have a feeeling the reason you are charged with a CU is that they do not have the huge currency exchanges that big banks have. You may find that if you walked into your CU their exchange rate at the teller would be not as good as the big banks for the same reason. My card is a Gold Cheque Card and it has both "debit" and the Visa logo. The back of the card has "Plus", Interlink and Instant Cash logos. This is an intersting discussion and only goes to show how banks are constantly dreaming up ways to rob us!! I will report back when I get a reply. I am not fond of banks but I have found Wells Fargo to be better than the others.

Moisheh

sfmacaws

Nov 2, 2006, 3:26 AM

Post #20 of 32 (4304 views)

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Re: [Moisheh] Citibank/Banamex ATMs

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I know this is getting really confusing but I have to straighten out some things that aren't correct. I don't get charged by my credit union for currency exchange or ATM fees. I got a letter this summer that starting in Dec I would be charged 3% for foreign currency exchange using my ATM card, the letter was quite clear that the charge was NOT coming from my credit union but from MasterCard's currency exchange. When I talked to the credit union they told me that if I had only a debit card that was not also a credit card and that didn't go through (or have the logo for) MasterCard, there would continue to be no charge for currency exchange. So that's what I did.

I have never paid fees to the credit union for any transactions other than wire transfers. Hopefully that will continue now that I have changed cards. Personally I think that credit unions are the best thing since white rice as I have never found a bank that I thought was worth much. I also have an account with Bank of America and I will admit that they don't charge me for anything really but as Bubba says, they don't pay me for holding my money either. The credit union will only allow one account per member and I needed a second account for rentals or I wouldn't be there.

Jonna - Mérida, Yucatán

prorader

Nov 2, 2006, 4:45 AM

Post #21 of 32 (4300 views)

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Re: [JohnBleazard] Citibank/Banamex ATMs

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I have a bank account in NY, that has been and is where mydirect deposits go also has a free bill pay service, before moving here I opened an account with Citibank Banamex in Calofornia, I then had my NY account linked to Citibank Bamex no charge. I had thought about opening a Banamex account here but have not need do that. My NY debit card and my Citibank Banamex ATM card works at all Banamex ATM with no fees. I transfer funds from NY to Citi no charge, to transfere money here there is a charge for $1,000.00 or less

Oscar2

Nov 2, 2006, 8:53 AM

Post #22 of 32 (4263 views)

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Re: [prorader] Citibank/Banamex ATMs

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I then had my NY account linked to Citibank Bamex no charge. I had thought about opening a Banamex account here but have not need do that. My NY debit card and my Citibank Banamex ATM card works at all Banamex ATM with no fees. I transfer funds from NY to Citi no charge, to transfere money here there is a charge for $1,000.00 or less

I arranged the same configuration but instead of a NY bank, my higher interest savings are in Citibank USA. Transfers, as needed, to Citibank-Banamex are without fees but “free” transfers are limited to 5k with 3 working days in between, if your lucky. If you wanted to transfer 20k it would take upward a snails pace of almost 2 weeks. If funds were needed like right now, you must pay for a wire transfer.

All the contingencies and little hidden restrictions didn’t fall into place until after the account was opened and started transfers to Citibank-Banamex. I discovered it’s faster to go through “Paybills” and issue an e-check. E-checks are limited to 10k each but you can issue up to the amount you need. It takes about seven days to get too Citibank-Banamex but it’s free and certainly faster than 2 weeks.

While we’re on the subject of banking, something else of interest and I never hear it mentioned. Which banks offer safe deposit boxes, what are their rental rates and are they free with a minimum balance? I mean doesn’t anyone down south use these things for valuable documents and if so which big city banks offer them, lets say in the Guad area.

(This post was edited by Oscar2 on Nov 2, 2006, 9:13 AM)

Rolly

Nov 2, 2006, 9:47 AM

Post #23 of 32 (4250 views)

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Citibank/Banamex

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I find all this Citibank/Banamex stuff interesting but puzzling. There seems to be a difference in the way Citibank customers are treated by Banamex vis-a-vis the way Banamex deals with customers of California Commerce Bank, now called by the odd name "Citibank (Banamex USA)."

For example: There is no limit on the amount of daily funds that may be transfered from California to Mexico. On-line transfers are limited to US$10,000, but larger amounts can be arranged by phone. I did so several times during my house building days. There is no fee for transfers of amounts greater than US$1,000, but there is a US$5.00 charge for amounts of US$1,000 or less. The exchange rate is not quite as good as Bank of America gives for ATM withdrawals via Serfin Bank. Serfin does not charge for withdrawals via BofA ATM cards. And Banamex does not charge for use of their ATMs if you are withdrawing from their bank.

Rolly Pirate

Bloviator

Nov 3, 2006, 5:20 AM

Post #24 of 32 (4190 views)

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Re: [Oscar2] Citibank/Banamex ATMs

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No problem. Our Banamex branch has safety deposit boxes. The only stipulation is that you must have $500.000 pesos on deposit in your account and/or have had the account for a year. Another small detail is that the bank looks as if it has been bombed. It has been through a variety of earthquakes and I'm not sure I'd trust my valuables to their safety deposit box even if I were insane enough to keep $500K (pesos) in the account.

Oscar2

Nov 3, 2006, 12:23 PM

Post #25 of 32 (4137 views)

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Re: [dlyman6500] Citibank/Banamex ATMs

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Whoa! 47k US, deposit for a safe deposit box? It must be diamond studded with gold leaf fringes…… Wink

Question: When you said, “our branch,” does this mean Ajijic or Guad? I understand there is a greater possibility of availability in some of the larger, big city banks such as Guad, with a lesser minimum deposit and/or better yet, an annual rental fee for new accounts.

Exploring SoB banking institutions by phone from NoB with pigeon towed Spanish can prove to be quite nerve wracking. Wouldn’t it be nice if you could hire someone to do this and a few other tasks, laying the foreground to make your trip easier once there? Hey, possibly a good idea for new business opts. On second thought, I think this forum was designed and built on the information highway……

Appreciate the info dlyman. Too bad about the dubious condition of Banco Banamex. Let’s hope this is the exception, rather than the rule.

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