AngusMactavish Posted December 28, 2017 Report Share Posted December 28, 2017 I have no need for a Mexican credit card or checking account, but the local utilities no longer take my US cards, debit or credit. I wish to pay them online and found that local banks plunder you with fees and high interest. In researching my options I chose a demand account with Banco Azteca. The reasons were: They are everywhere in Mexico. Open from 9 to 9. No minimum deposit or balance required. Issue a Visa or MasterCard debit card at account opening. Pay .1% on balances. No fees or insurance requirements. Online management of the account including bill pay. I paid CFE and Telmex bills within 30 minutes of leaving the bank. I will never meet the reporting requirements of FBAR or use them for investments. All I needed to open the account was passport and a color copy of it (their scanner will not work with passports), visa, proof of address, and one or more pesos opening deposit. https://www.bancoazteca.com.mx/PortalBancoAzteca/cuentas-inversion/guardadito.do Link to comment Share on other sites More sharing options...
Syver117 Posted December 28, 2017 Report Share Posted December 28, 2017 Where did you go to open your account? Link to comment Share on other sites More sharing options...
barcelonaman Posted December 28, 2017 Report Share Posted December 28, 2017 Been with them for 6 years. No problems and decent interest rates. Link to comment Share on other sites More sharing options...
Joco Posted December 28, 2017 Report Share Posted December 28, 2017 3 hours ago, AngusMactavish said: I have no need for a Mexican credit card or checking account, but the local utilities no longer take my US cards, debit or credit. I wish to pay them online and found that local banks plunder you with fees and high interest. In researching my options I chose a demand account with Banco Azteca. The reasons were: They are everywhere in Mexico. Open from 9 to 9. No minimum deposit or balance required. Issue a Visa or MasterCard debit card at account opening. Pay .1% on balances. No fees or insurance requirements. Online management of the account including bill pay. I paid CFE and Telmex bills within 30 minutes of leaving the bank. I will never meet the reporting requirements of FBAR or use them for investments. All I needed to open the account was passport and a color copy of it (their scanner will not work with passports), visa, proof of address, and one or more pesos opening deposit. https://www.bancoazteca.com.mx/PortalBancoAzteca/cuentas-inversion/guardadito.do You can also pay your phone bill there without the bill, just the phone number. Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 28, 2017 Author Report Share Posted December 28, 2017 17 minutes ago, Syver117 said: Where did you go to open your account? Across the street from the plaza in Chapala. They are with Elektra. Has a English speaking person to answer the clerk's requirements. Link to comment Share on other sites More sharing options...
sputnik Posted December 28, 2017 Report Share Posted December 28, 2017 yes, we loved them and went in to open an acct. Their computer would take my husbands passport but they tried many times to enter mine. It would never take it and they dont know why. They were so sorry. So we had to go to Multiva. Anyway, we may try again later. Link to comment Share on other sites More sharing options...
cedros Posted December 28, 2017 Report Share Posted December 28, 2017 3 hours ago, barcelonaman said: Been with them for 6 years. No problems and decent interest rates. To me 6 years is a short time to be certain about a bank. Link to comment Share on other sites More sharing options...
SunshineyDay Posted December 29, 2017 Report Share Posted December 29, 2017 They must keep a pretty low profile. I have never heard of this bank. If it is this good I may move my accounts. Need more info please. TIA Link to comment Share on other sites More sharing options...
cedros Posted December 29, 2017 Report Share Posted December 29, 2017 It is surprising that it is so low profile. Maybe low profile just to us foreigners. Link to comment Share on other sites More sharing options...
bournemouth Posted December 29, 2017 Report Share Posted December 29, 2017 If you are an Elektra shopper, you would probably know about this bank. I think it started out as the financing arm of Elektra and both Elektra and Banco Azteca belong to Grupo Salinas. Link to comment Share on other sites More sharing options...
barcelonaman Posted December 29, 2017 Report Share Posted December 29, 2017 6 minutes ago, cedros said: It is surprising that it is so low profile. Maybe low profile just to us foreigners. Thats correct. https://en.m.wikipedia.org/wiki/Banco_Azteca Link to comment Share on other sites More sharing options...
sputnik Posted December 29, 2017 Report Share Posted December 29, 2017 yes, it seems to be for the common Mexican. Maybe that is why they offer no fees, which is the way it should be. Yea for the common man. Imagine telling our forefathers that when they work, they need to go give their money to someone else to hold for them. Then when they want to go get some of their money to use they will have to pay the person to use their OWN money....crazy...but a fact we "modern gullible" people have grown use to......(you can probably guess i feel the same way about insurance)....and i do use both institutions so i guess Im one of the "gullible"....lol Link to comment Share on other sites More sharing options...
cedros Posted December 29, 2017 Report Share Posted December 29, 2017 Now to draw up a comparison between Azteca bank and Bancoppel. Link to comment Share on other sites More sharing options...
Joco Posted December 29, 2017 Report Share Posted December 29, 2017 1 hour ago, sputnik said: yes, it seems to be for the common Mexican. Maybe that is why they offer no fees, which is the way it should be. Yea for the common man. Imagine telling our forefathers that when they work, they need to go give their money to someone else to hold for them. Then when they want to go get some of their money to use they will have to pay the person to use their OWN money....crazy...but a fact we "modern gullible" people have grown use to......(you can probably guess i feel the same way about insurance)....and i do use both institutions so i guess Im one of the "gullible"....lol You don't need to give your money to someone to hold for you. You can keep it under a mattress. Banks have always made money by taking in money. The US Forefathers had banks also and the banks couldn't build buildings and have employees without charging for services. Link to comment Share on other sites More sharing options...
Joco Posted December 29, 2017 Report Share Posted December 29, 2017 10 minutes ago, cedros said: Now to draw up a comparison between Azteca bank and Bancoppel. https://www.bancoppel.com/acerca_bancoppel/faq.html https://www.bancoazteca.com.mx/PortalBancoAzteca/ayuda/app-banco-azteca.do Link to comment Share on other sites More sharing options...
cedros Posted December 29, 2017 Report Share Posted December 29, 2017 https://mx.answers.yahoo.com/question/index?qid=20130121151943AAw0wzQ http://www.elfinanciero.com.mx/economia/cuales-son-los-mejores-y-peores-bancos-por-tipo-de-credito.html Link to comment Share on other sites More sharing options...
AngusMactavish Posted December 29, 2017 Author Report Share Posted December 29, 2017 Some people seem to not understand my recommendation of Banco Azteca. I am using them for a free demand deposit account only. I would never invest with them nor use their credit offerings. I find it very advantageous to be able to pay my utility bills online for free. Link to comment Share on other sites More sharing options...
bmh Posted December 29, 2017 Report Share Posted December 29, 2017 Bancoppel and banco Azteca smake their money offereing merchandise on credit to poor people. anyone in Mexico knows that..j In CHiapas they even offer all the merchandise and credit terms in Tzotzil so right there it tells you a lot about their customer base..poor indigenous who can hopefully read.. Since those people are high risk I am assuming that their rate of interet for credit is very healthy..You have to go through the store to get to the fiancial part... Link to comment Share on other sites More sharing options...
Joco Posted December 29, 2017 Report Share Posted December 29, 2017 6 hours ago, cedros said: https://mx.answers.yahoo.com/question/index?qid=20130121151943AAw0wzQ http://www.elfinanciero.com.mx/economia/cuales-son-los-mejores-y-peores-bancos-por-tipo-de-credito.html What is it you want, a bank that lets you make weekly payments to buy things or a bank that has easy to use accounts? I give up. Link to comment Share on other sites More sharing options...
sputnik Posted December 30, 2017 Report Share Posted December 30, 2017 11 hours ago, Joco said: You don't need to give your money to someone to hold for you. You can keep it under a mattress. Banks have always made money by taking in money. The US Forefathers had banks also and the banks couldn't build buildings and have employees without charging for services. yes i totally agree and yes I am a "mattress" person....lol...i only have a very small amount in multiva for a certain reason....i dont like banks and never have..... Link to comment Share on other sites More sharing options...
Orygun Duck Posted December 30, 2017 Report Share Posted December 30, 2017 Will they accept/convert US checks for deposits? If so, how long before the funds are available.? Link to comment Share on other sites More sharing options...
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