robt65
Dec 4, 2011, 11:47 AM
Post #15 of 27
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Re: [fordmexico] Money Xfers To/From USA
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Good Morning fordmexico,
I think my Inter National Bank in Texas offers a better deal, is just as fast (all such transactions go through a "third party" bank such as Chase or whatever) and it is the sending and receiving banks option to levy charges.
Inter National Bank in Texas is owned by Banorte in Mexico. There is NO CHARGE for any wire transactions and the exchange rates are par with XE currency conversion rates.
My Banorte or Inter National Bank debit cards can be used at either bank here in Mexico, or in the USA, to draw from my account in either direction.
In Mexico a maximum of $6500 MX pesos per day, for as many days as you have the $$$$ in either bank from my Banorte ATM, unlimited $$$$ draw from Banorte account per day, as long as I actually go into my Banorte in person to make such a larger withdrawal, I have transferred very large amounts for buying land plus another lot and a house.
There are also a lot of other fees that banks have today, that you might not notice. For example I used to have a bank that when I called to find out my balance or if any of my pensions, social security, etc., had arrived. I used to be charged $3.00 USD for each account check up fee.
Since I am a senior and I have my pensions directly wired to the bank from the government, I never have to now pay such fees. If I overdraft my account, I do pay a fee of $32.00 like most banks have and that is OK, for me, it makes me be a little more astute at keeping track of my account. I also have a overdraft allowance that if I use that, it will also cost me another $32.00 USD. Once again, for me that is good to know, in case I should have some kind of emergency.
You have said:. . . . . . . . "For the last several months we have been using XOOM to transfer money from our USA bank account to my wife's account at HSBC Mexico. It is about the quickest and least expensive way we have found to transfer money. The initial limit is usually $3000 per month which they raise to $6000 after 2-3 months. The fee for the transfer is only $4.99" . . . . . . . . you also said . . . . . "We also use wire transfers if we need to move larger amounts as when we purchased our home. The fee charged by our bank was $22.50 with HSBC charging about $25 on the receiving end."
. . . . . . that to me totals about $47.50 USD and I pay nothing for such large money transfers. I pay no fees whatsoever, for even smaller wire transfers. . . . . . . . . . Only thing is that I cannot receive USD and must only receive Mex Pesos in Banorte . . . . . . . . just saying.
Regards,
robt65
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