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Maybe Intercam is our answer?


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30 minutes ago, Mainecoons said:

Why not CIBanco?  No parking problem there.  Excellent ATM (for here) with good rates. 

For taking out CAD with CAD debit cards  we use that. But for place to move from HSBC because they are LOUSY at what they do, we need a place to have a Mexican debit card and to keep some pesos on deposit for emergencies,  or when CAD is in the toilet like it is right now.

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56 minutes ago, Natasha said:

For taking out CAD with CAD debit cards  we use that. But for place to move from HSBC because they are LOUSY at what they do, we need a place to have a Mexican debit card and to keep some pesos on deposit for emergencies,  or when CAD is in the toilet like it is right now.

If you have chosen Intercam,you have chosen well!

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Living in slightly west upper Ajijic, I chose Actinver Bank, in about 1998 and a couple of years later, I also wired some of my retirement savings down and invested in stocks and bonds in their brokerage accounts.

I have been very happy there partially because it is so close to home and also because there is great parking in front of Actinver Bank and Brokerage House.

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Intercam has customer service that is far superior to Actinver. I opened an account with Lloyds in San Miguel in 1996. When Lloyds was bought by Actinver, the problems began. I finally cancelled the account in 2014 and went without a Mexican bank until I wanted to buy another car here. Intercam made it painless and easy. I am happy that you're happy with Actinver Pete but my experience was otherwise.  The straw that broke the camel's back for me was my writing a cheque from my Canadian bank that literally disappeared for two months. Actinver froze my entire account and I had hospital bills to pay for my husband. I could understand their not allowing me access to the money for the cheque but not the money that was IN my account before I wrote the cheque. Turned out the missing cheque was their fault. The minute all the funds were allowed to be accessed, I cleaned it out and dumped them.

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I also wasn't thrilled with Actinver, and saw the same things when they took over from Lloyds. And your experience with the missing money reminds me of what happened to my friend who was in the construction business here. Clients would wire him money for the house he was building for them. One time the clients said they had wired the money and after several days it hadn't appeared. Actinver kept giving him and his client the run-around until he finally told them if the money didn't appear in his account within 2 hours, he was going to the Federales. Guess what? the money was in his account an hour later. 

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We had issues with Lloyds years ago as well and was reason to go to HSBC in the first place. And a Mexican friend who was having her American deceased husband's widow benefits send from U.S. to Lloyds also had issues and got the same run-around. This was critical to her since her disabled daughter meant she could only work from home for the bit she could earn and her money was held up for over 3 months' worth of deposits. VERY upsetting ( I was helping try to resolve). No idea--- before or after Actinver. Would not touch them with 10 ft pole these days.

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As another option, Cetes rates have been increasing for a couple of months.

image.png.da8b8cf1bd4337a8bbe0123ac1fd83d7.png

The benchmark interest rate for Mexico went from 6.5% to 7% in May and the forecast is for another rate increase to 7.5% in late June.

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25 minutes ago, Mainecoons said:

Do you have someone there you recommend?

 

Alejandra but all the reps are knowledgeable and appear to speak English. I do know that they offer cetes because I heard another customer wanting to roll over hers. I'm not really interested since my account is an emergency/special project account only.

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10 minutes ago, Ferret said:

Alejandra but all the reps are knowledgeable and appear to speak English. I do know that they offer cetes because I heard another customer wanting to roll over hers. I'm not really interested since my account is an emergency/special project account only.

Alejandra is my acct. exec and has been since day one. Ask her as I have no interest in investments of any sort and just have a chequeing acct. which I top up as needed for my pesos expenditure here. I just go to the wicket to get more from an actual human and have never needed to use the ATM but have used the debit card to make large payments-cheques too.

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me three   a friend got a big shock with cetes (doesn't matter where) a few years ago  plain acct to  store pesos   top up as needed  take as out needed  end of story

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We have been an Intercam client for long while and we are very pleased with both their product offerings, and customer service. We deal with Yuray Rivero Garcia and can't say enough good about her. Smart and she will not disappoint.  376-766-5980. Make an appointment and ask your questions. Yuray works out of the original office just west of Oxxco in Ajijic, mtn. side on the Carretera. 

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I would  like to set the record  straight  I found nothing  negative  about  intercam !  I was investigating  all the options and was really  wanting  a Mexican  credit card which  they do not offer. I have several  from the states but  with no borrowing  history  from Mexico  it is difficult  to get without  waiting  6 months  to a year. I'm  still looking.

Regards,  phil 

 

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On 5/31/2022 at 4:50 PM, Mainecoons said:

Why not CIBanco?  No parking problem there.  Excellent ATM (for here) with good rates.  

 

 

When they first opened I asked them many questions and was not impressed.

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On 6/1/2022 at 11:26 AM, John Shrall said:

As another option, Cetes rates has been increasing for a couple of months.

image.png.da8b8cf1bd4337a8bbe0123ac1fd83d7.png

Teh benchmark interest rate for Mexico went from 6.5% to 7% in May and teh forecast is for another rate increase to 7.5% in late June.

What is the minimum deposit required these days?

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1 hour ago, lakeside7 said:

What is the minimum deposit required these days?

If you invest directly using Cetes Directo the minimum is only $100 but an investment house like Multiva may have their own rules. My guess would be a minimum of $10,000 but that’s only a guess.

I’ve used Cetes as a fixed income investment for years interest rates in the US have been barely above zero. It’smprobably time to start building a ladder with a mixture of 1, 3, 6 and 12 month instruments.

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On 6/2/2022 at 8:25 PM, phil in mexico said:

..... and was really  wanting  a Mexican  credit card

IMO that's the LAST thing i ever want.  I'll stick with my Canadian card which protects me from fraud, theft, scammers, etc. without a whimper.  As far as I understand, not at all the same with MX cards.  Other who have them might respond?

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A stolen MX CCD cannot be easily used. No card number or exp date on the plastic and digital signature (PIN) required.

Online transactions require a CVV which can only be generated with a 5 minute life. If the database stores the digital card number it cannot be used without that CVV.

I don’t know how scammers fit into a question about credit cards.

I think my MX CCD is more secure than my Citibank card.

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On 5/30/2022 at 5:23 PM, Natasha said:

I found it very odd too, since our HSBC IS joint. We do not have nor want credit card from them. Have one HSBC debit, and that's enough. (one each from Canadian bank). But no way in hell are they putting something on my phone...... which she made clear is NOT an option. Cash is king for us in MX.......... Canadian Visa works for Amazon.

I'm guessing this "no joint " thing is new?  A Mexican friend was here today and she told me they forced that app on her..... and now they "bug" her constantly via same for added services, upgrades, etc. She hates it and always declines but says it really is a nuisance. 

I had a joint account at HSBC for years-2 debit cards.

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2 hours ago, Natasha said:

IMO that's the LAST thing i ever want.  I'll stick with my Canadian card which protects me from fraud, theft, scammers, etc. without a whimper.  As far as I understand, not at all the same with MX cards.  Other who have them might respond?

My BBVA card requires a pin for physical purchases. There is a digital version is good for 5 minutes for on line purchases. I can instantly freeze the card using the app. Far more secure than my US cards 

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