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Would anyone have a debit card from this bank, any fee's or minimum in checking accounts

Any good or no so good comment

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I have a Canadian Scotiabank chequing account with debit card. For me there is no minimum balance required and there are no service fees to use the ATM here. I am not sure what the rules are for accounts opened in Mexico. It might be entirely different.

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Thank you EXYYZ

So before I drive down to Ajijic I will get myself a debit card account from a Scotiabank in Canada, this way I'll be able to withdraw without service fee's.

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Thank you EXYYZ

So before I drive down to Ajijic I will get myself a debit card account from a Scotiabank in Canada, this way I'll be able to withdraw without service fee's.

We opened an account with Scotiabank before we moved here. This is a secondary account and we only use it for withdrawing money from the Scotiabank ATM here. And, as a previous post says, there are no charges for withdrawals from the Scotia ATMs here.

Whenever I need to replenish the balance I do an Interac transfer from my main bank (not Scotia) to our account at Scotia. The funds are in the Scotia account virtually immediately. This arrangement provides another level of protection as I do not use my debit card from my main bank, so if by some chance the bad guys somehow get hold of my Scotiabank card info, my risk is limited to whatever balance is in the Scotia account.

Make sure you ask Scotiabank to set up your web banking if you decide to have a similar arrangement.

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I have both Scotiabank Canada and Scotibank Mexico accounts. Depending on what account type you have in Mexico, there is a minimum balance required so that there is no monthly fee. The one I have requires you to maintain a $1,000 MX min. balance. The one I have in Canada is called the "Basic Banking Plan" and has a $9.95/mo. CDN monthly fee less a $4.00/mo. CDN senior's discount if you are over 60. This gives you up to 25 debit transactions/mo. free and the account fee is waived if you maintain an average monthly balance of $2,500 CDN.

With either debit card (Canadian or Mexican) there is no ATM fee to use the Scotiabank ATM's in Mexico. Note that you cannot transfer funds between the two banks/accounts since they are not tied together (other than by wire transfers, etc.) I transfer funds between the two bank accounts using xe.com for no charge using the ETF function, max. $10,000 CDN per transfer. Big brother still needs to see what is going on I guess!! There is the typical 3% or so buried into the exchange rate they give though. No way around that - cost of doing business.

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Thank you EXYYZ

So before I drive down to Ajijic I will get myself a debit card account from a Scotiabank in Canada, this way I'll be able to withdraw without service fee's.

And don't forget to tell your bank in Canada that you'll be using the card in Mexico. They'll put a note on your file. That way, you won't get your account frozen due to suspicious activity!

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HSBC also offers this service and has an actual full service branch in Ajijic including Premier client services with those added layers of security if you are so inclined. Scotiabank only has an ATM machine here. You will have to go all the way to Guadalajara for anything other than a withdrawal. Also, while your Scotia account may not limit your daily withdrawal amounts the ATM company in Mexico does for "security reasons". You will need to make special arrangements if you ever need more money than your daily limit here.

BTW suegarn commented how it was so very convenient to notify your bank to ask them to remove the freeze on Mexican withdrawals? Those security procedures came about specifically because of bank fraud in Mexico. A safer solution is to get used to calling your bank to notify them you will be making a withdrawal. This goes the same with your credit card company. A pain in the keester you say? Sure is...but better to be frozen than removing the very security checks the banks have put in place to keep you protected while you travel to jurisdictions over which they have no control. That note on your file that says you asked to remove the security procedures on your account will go against you in the event of a claim. Much better just to call, they provide 800 numbers and free collect call services to encourage you to do just that. Check the fine print on the back of your cards for the numbers and make sure you set up phone and internet services before coming down. That suggestion to remove the security protocol on your account has prompted the following precautionary rant.

You may have seen or read about Scotia's problems with insider bank fraud from the Fifth Estate show a few years ago that resulted in at least one murder? Originally Scotia's response was to handle it by trying to discredit the complainants and sweep the story under the table. They later had to admit to the scale of the unresolved fraud issues following airing of the Fifth Estate investigations where legions of people were having their personal accounts emptied. It resulted in some very bad PR for Scotia as they came out looking at best, very callous indeed towards their clients. At worst they looked inexperienced and in over their heads when they bought out Inverlat in Mexico. As I was one whose Mexican Scotia accounts emptied, I can assure you that even with the story going public, I never received one cent of compensation from Scotia Inverlat. They did however fire the branch manager. It is wise to remember that while Scotia Inverlat may share a similar name with Scotia Canada, and is owned by them, they are in fact completely separate businesses governed by completely different laws and who have completely different attitudes towards their client base.

The Fifth Estate story was followed up by another more in depth story in the Globe and Mail (?) that showed theft of personal accounts was of epic proportions that was affecting Scotia, Banamex and Bancomer. Guadalajara's Catholic Bishop was one of the victims and was bilked of several hundreds of thousands of dollars. That of course made the news yet again where it was disclosed that there was an international group that was targeting loophole's in Mexico's antiquated financial system. At the time, I did not ask why a Bishop had that much money in a personal account...

http://www.cbc.ca/news/scotiabank-manager-s-death-probe-reveals-multimillion-dollar-fraud-1.2125652

Anyway, I did a quick Google to come up with this link to the CBC story about the Scotia scandel. As it turned out, this story was only the tip of the iceberg regarding Mexican Bank insecurity issues that appears to affect most banks. Some checks and balances have since been put into place to provide the user with greater protection, as evidenced by some of the recent banking changes talked about on these boards. Last I heard it has still failed to halt the problem of fraud in Mexican banks. Just ask your bank why they no longer allow you to wire money without first walking into a bank branch back home. These issues remain unresolved even today and will continue to do so until Mexico does an overhaul of the antiquated financial system. Something that is in the works but change is glacially slow.

The judicial system overhaul was done first. That at least will come into full effect in July 2016 at which point everyone will be considered innocent until proven guilty and the courts will become oral courts like the USA instead of private hearings with a ($$) judge. Once the dust settles on that transition the Gov't is expected to push through the final stages of financial system reform. Let's just hope there are no delays to the judicial system changes coming into full effect.

Whatever the Gov't ends up doing with the laws, or however long it takes, until these changes come into effect and the dust settles on them, keep your money in Canada and transfer only the minimum required for living expenses while in Mexico, and only on an as needed basis, making use of the security protocols designed to keep your money safe. That way, if ever the fraud happens in Canada you know you have well established rule of law and bank balance protection plans to help you out.

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Good information re: keeping minimal amounts in Mexican banks for now. Actinver here in Lakeside has also had recent problems with people's accounts being emptied through fraudulent means. Many of those affected have received no support form the Actinver local Management.

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Semalu, I did not say anything about asking Scotiabank to remove the security features. What I said was that I called Scotiabank to let them know that I would be using my cards in Mexico, no one else. I still check my account activity online a few times a week, so I know what is happening. If I see anything suspicious, I call them immediately!

Scotiabank will still cover losses and protect you if there is any fraudulent activity on your accounts!

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