ned small Posted December 24, 2017 Report Share Posted December 24, 2017 2 hours ago, Joco said: You can transfer money using a service without being present and it is cheaper. Wire transfers are expensive. Transferring with a financial company is cheaper. And writing a cheque is even cheaper yet and really easy. Link to comment Share on other sites More sharing options...
sem123 Posted December 24, 2017 Report Share Posted December 24, 2017 We're from Ontario and have the same process as peteben. we opened an account with Bancomer on a tourist visa, but you have to have something like an electricity bill with your name and address on it. We use XE.com to do the transfer of Canadian Dollars from our Credit Union in Canada to pesos into the Bancomer branch on the Ajijic Plaza. The offer a good exchange rate and a low handling fee, Electronic transfers or wire transfers are much more expensive. They're fine for a large one time transfer (Like transferring the payment when purchasing a property), but for monthly expenses, XE.com is a reliable, cheap method. Our Property Manager/Contractor has his own Bancomer Account and we can transfer money from our account to his. Just an aside... we use a Marriot Credit card when we're down there. They only charge the exchange rate, they don't add a handling fee on top of each purchase (our RBC credit card adds an additional 2%). Link to comment Share on other sites More sharing options...
Gumby Posted December 24, 2017 Author Report Share Posted December 24, 2017 On December 22, 2017 at 5:57 PM, Sonia said: Thank You for all the comments, it certainly seems like it will be challenging, I think probably I will need to sit in front of a couple bank employees when we get there in July, prior to that I will need to find out how many Pesos I can bring into the country with me, hopefully in the end we will figure something out... Let the adventure start... the forum is great and I expect I will be regular here for a while. have a great holiday all Michelle and Jim Link to comment Share on other sites More sharing options...
ned small Posted December 24, 2017 Report Share Posted December 24, 2017 19 hours ago, Natasha said: Yes, I am, and both Toronto-Dominion (I was trustee for an estate) and Royal Bank (mine) have refused to do wire transfers without one being there in person for at least three years. You didn't mention about the 3 year thing so what you said does not apply to the OP because they are in Canada now. they will have no problem electronically transferring let's say $20,000CDN after being here about 1-2 months, from their Canadian bank to a Mexican bank they open here in person. The cost will be about $30 CDN. I speak from experience and gave the ok from here in Mexico by phone, not face to face with my banker in Canada, but the $ figure is just an example of a large sum shall we say. Link to comment Share on other sites More sharing options...
mudgirl Posted December 24, 2017 Report Share Posted December 24, 2017 7 hours ago, sem123 said: We're from Ontario and have the same process as peteben. we opened an account with Bancomer on a tourist visa, but you have to have something like an electricity bill with your name and address on it. We use XE.com to do the transfer of Canadian Dollars from our Credit Union in Canada to pesos into the Bancomer branch on the Ajijic Plaza. The offer a good exchange rate and a low handling fee, Electronic transfers or wire transfers are much more expensive. They're fine for a large one time transfer (Like transferring the payment when purchasing a property), but for monthly expenses, XE.com is a reliable, cheap method. Our Property Manager/Contractor has his own Bancomer Account and we can transfer money from our account to his. Just an aside... we use a Marriot Credit card when we're down there. They only charge the exchange rate, they don't add a handling fee on top of each purchase (our RBC credit card adds an additional 2%). I have always done the same, but you are confused about one thing. The transfer you get through xetrade IS an electronic funds transfer. It does not carry a fee. A wire transfer does. Link to comment Share on other sites More sharing options...
BCdoug Posted December 25, 2017 Report Share Posted December 25, 2017 see my post regarding CanadianForex - much cheaper. I have not personally used this, but ask Eagles100 - and Post #8 to end http://www.chapala.com/webboard/index.php?s=35b6235a74466a610702fefbc5d9251a&showtopic=53183 Link to comment Share on other sites More sharing options...
Joco Posted December 25, 2017 Report Share Posted December 25, 2017 On 12/23/2017 at 11:04 PM, ned small said: And writing a cheque is even cheaper yet and really easy. Getting a local institution to cash foreign checks is not easy like it was years ago. If they will cash them, they want to hold the check until it clears. With Xoom I can transfer funds in one day and pay $4.95. Link to comment Share on other sites More sharing options...
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