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CetesDirecto


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To check it out I opened an account online a couple of months ago. You need a CURP, RFC# and a bank from which money is transferred back and forth for investments and liquidations. CETE auctions generally occur every Tuesday. To make an investment you have to select a specific auction day and the amount you wish to invest. This is where things get a little convoluted.

While their website says you can invest up to $10 million pesos, in reality you are allowed to transfer $15,000 pesos in a calendar month. If you want to invest more, you have to physically go to a Banco de Bienestar branch with the usual boatload of documents. While branches in Jocotepec and Chapala have been built, they seem to be abandoned at the moment so fulfilling this requirement requires a call to Mexico City to make an appointment at the single branch in Guadalajara. AMLO promises thousands of these "welfare banks" will be open by year end.

My first CETE matures in a couple of weeks, so I'll find out how the payout and ISR works as well as reinvestment.

Everything on the site as well as communication with support people is in Spanish

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2 hours ago, John Shrall said:

To check it out I opened an account online a couple of months ago. You need a CURP, RFC# and a bank from which money is transferred back and forth for investments and liquidations. CETE auctions generally occur every Tuesday. To make an investment you have to select a specific auction day and the amount you wish to invest. This is where things get a little convoluted.

While their website says you can invest up to $10 million pesos, in reality you are allowed to transfer $15,000 pesos in a calendar month. If you want to invest more, you have to physically go to a Banco de Bienestar branch with the usual boatload of documents. While branches in Jocotepec and Chapala have been built, they seem to be abandoned at the moment so fulfilling this requirement requires a call to Mexico City to make an appointment at the single branch in Guadalajara. AMLO promises thousands of these "welfare banks" will be open by year end.

My first CETE matures in a couple of weeks, so I'll find out how the payout and ISR works as well as reinvestment.

Everything on the site as well as communication with support people is in Spanish

Thanks,  John. 

I was able to open an account this morning and will put some money in my BBVA account this week in order to purchase my first CETE.

We don't have big money, so I will be just fine with their online services.

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6 hours ago, John Shrall said:

To check it out I opened an account online a couple of months ago. You need a CURP, RFC# and a bank from which money is transferred back and forth for investments and liquidations. CETE auctions generally occur every Tuesday. To make an investment you have to select a specific auction day and the amount you wish to invest. This is where things get a little convoluted.

While their website says you can invest up to $10 million pesos, in reality you are allowed to transfer $15,000 pesos in a calendar month. If you want to invest more, you have to physically go to a Banco de Bienestar branch with the usual boatload of documents. While branches in Jocotepec and Chapala have been built, they seem to be abandoned at the moment so fulfilling this requirement requires a call to Mexico City to make an appointment at the single branch in Guadalajara. AMLO promises thousands of these "welfare banks" will be open by year end.

My first CETE matures in a couple of weeks, so I'll find out how the payout and ISR works as well as reinvestment.

Everything on the site as well as communication with support people is in Spanish

Two questions-

They asked if I wanted to set up a regular deposit. How would that work? For instance, if I buy a CETE for $10,000mxn for 3-months, and said I want to deposit $10,000 additional per month, would they add it to the existing CETE?  Would the interest rate still be the same as when the original was purchased?

I think that I have heard people talking about rolling over their CETEs. When you do that, is it automatically for the original rate?

Thanks for any help you can offer.  Clearly, I am wading into unknown territory. 

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A CETE is an investment like a CD with a fixed maturity period and interest rate, so no you cannot add to one already on the clock. The rate will go up and down depending on the market. A new auction takes place every Tuesday for all terms.

You can transfer money in monthly so long as the total does not exceed $15,000 but you have to manually select the term and which date you want to make the investment. There is an option for reinvestment, but I haven't reached a maturity date so no idea how that works. If a CETE pays out the money is deposited into a BONDDIA account and added to current balance. After a CETE matures the principal plus interest less ISR is deposited into the BONDDIA account. You can also transfer more in and make a single investment for the total amount.

Bottom line is that it's pretty manual as far as I can tell.

 

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46 minutes ago, traderspoc said:

it would be prudent to invests in cetes with your local bank, 1 year or 2 years, where you have a realtionship with the local bank representative.

do your due diligence.

So you are suggesting it is questionable or unsafe to buy direct from the Hacienda (Mexican govt department) who issues the Cetes?  And a local bank charging to do it for you is safer ??

Based on what????

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Banks don't deal in CETES. NAFIN which is part of Hacienda is the only issuer of these instruments.

Banks deal in promissory notes or CEDES which are the equivalent of Certificates of Deposit in the US. CETES are closer to US T-Bills issued by the government.

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59 minutes ago, Yo1 said:

I bought my CETES through Intercam with an anto rollover every 30 days.

Intercam offers 28 day promissory notes just like Multiva and probably others. They are interest bearing investments that can be rolled over and probably have a rate near CETES, but they are not CETES.

Over the last month CETES paid between 9.89% and 10.2%.  Check out your most recent 28 day Intercam rate. It is still better than anything offered in the US right now so whatever the rate it's still a good investment.

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Actually there are ways to buy CETES using a bank or brokerage house,  but you will pay them a commission to handle the purchase and sale.

from the Bank of Mexico website  https://www.banxico.org.mx/elib/mercado-valores-gub-en/OEBPS/Text/iien.html#_indice1dwn

"As of December 2010, the Federal Government started selling securities directly to the public through the Cetesdirecto program. This program provides small and middle investors access to all types of government securities besides cetes.  Investors buy directly instead of purchasing such securities through brokerage firms or credit institutions (from 100 MXP and with no commission). To operate the program, the government granted a mandate to the development bank Nacional Financiera (Nafinsa). The public counter is the Bank for National Savings and Financial Services (Banco del Ahorro Nacional y Servicios Financieros, BANSEFI), but direct telephone and Internet trading is also available."

Many banks offer CEDES which may be sold with a rate that is similar to CETES.  CEDES are not government bonds

 

 

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