Prepaid credit cards in Mexico?

[tazman]

On 1/29/2023 at 8:32 PM, Hud said:

We have used Citibanamex for over 15 years without one drop of problems. We receive a new card in the mail a month before the old ones expire. Never a problem. You do what you think is best for you. This is what works best for us and I don't believe you will find another way that is "easier".  Been here at Lakeside since 1997. Good luck.

I started the process to open an account at Citibanamex on Tuesday.  It was quite a process, required an appointment, and took well over an hour, but the rep said the basic account needs no phone app to be used. 

We're in Mexico most of the time so it won't be a problem in the short term, but to my amazement they said it would take the 45 days to actually open the account. 

Thanks for the info.

[Hud]

3 hours ago, tazman said:

I started the process to open an account at Citibanamex on Tuesday.  It was quite a process, required an appointment, and took well over an hour, but the rep said the basic account needs no phone app to be used. 

We're in Mexico most of the time so it won't be a problem in the short term, but to my amazement they said it would take the 45 days to actually open the account. 

Thanks for the info.

We opened and used the ATM on the same day, but that was a long time ago. Hope it all works as well for you.

[CWQRO]

Can anyone tell me where I can go to get a pre-paid card? I see sites where I can order one online, but I’m in a rush and am want to go into a store in Querétaro MEX and use cash to load it. 

[jrod]

On 3/28/2023 at 3:00 PM, CWQRO said:

Can anyone tell me where I can go to get a pre-paid card? I see sites where I can order one online, but I’m in a rush and am want to go into a store in Querétaro MEX and use cash to load it. 

CiBanco is the only one I know of:

https://www.cibanco.com/es/cibanco/tarjeta-multidivisa-cicash-multicurrency

[vetteforron]

On 1/28/2023 at 8:49 PM, Lou Quillio said:

Consider a Wise or even DolarApp account (por qué no los dos?), using only your Mexican address and denominated in pesos. Costs nothing. They'll send you a physical debit card that transacts like a Mexican debit card.

A couple years ago, Amazon MX wanted me to make my first purchase (only) with a Mexico-issued card, a fact that wasn't obvious at first. Or maybe it was for an Amazon Prime MX subscription. Anyhow, after multiple puzzling failures with my usual Capital One (USD) credit card, it sailed through on my Wise debit card. Amazon never asked for it again.

LQ

 

I like the Dolarapp. I only keep a few hundred dollars there because it is a form of crypto. 

[vetteforron]

On 1/28/2023 at 8:49 PM, Lou Quillio said:

Consider a Wise or even DolarApp account (por qué no los dos?), using only your Mexican address and denominated in pesos. Costs nothing. They'll send you a physical debit card that transacts like a Mexican debit card.

A couple years ago, Amazon MX wanted me to make my first purchase (only) with a Mexico-issued card, a fact that wasn't obvious at first. Or maybe it was for an Amazon Prime MX subscription. Anyhow, after multiple puzzling failures with my usual Capital One (USD) credit card, it sailed through on my Wise debit card. Amazon never asked for it again.

LQ

 

I like the Dolarapp. I only keep a few hundred dollars there because it is a form of crypto. 

[JohnAjijic]

On 1/28/2023 at 9:49 PM, Lou Quillio said:

Consider a Wise or even DolarApp account (por qué no los dos?), using only your Mexican address and denominated in pesos. Costs nothing. They'll send you a physical debit card that transacts like a Mexican debit card.

A couple years ago, Amazon MX wanted me to make my first purchase (only) with a Mexico-issued card, a fact that wasn't obvious at first. Or maybe it was for an Amazon Prime MX subscription. Anyhow, after multiple puzzling failures with my usual Capital One (USD) credit card, it sailed through on my Wise debit card. Amazon never asked for it again.

LQ

 

I applied and obtained two Mexican credit cards recently - Nu Bank MasterCard and the Dolarapp MasterCard, and neither will work for an online purchase at Farmacia Guadalajara. Someone on Facebook suggested that some websites will not accept cards from neobanks (which is what Nu Bank and Dolarapp are), and that I must use a card from a brick and mortar Mexican bank - which for me requires opening an account at a local Mexican bank. So is this the only option that I have left?

[ibarra]

Pay cash.

[tazman]

Update:

I spent 2 hours with a Citibanamex account exec filling out the paperwork and answering questions as they entered the information in to their computer.  They then informed me that the account wouldn't be opened for at least 45 days after all the information was sent to Citibanamex's Mexico City office.

Yesterday I went back to the bank and was informed the account was cancelled because my signature did not match my signature.  Some bean counter in Mexico City decided that the nearly identical signatures on my passport and the application form were not the same although they clearly are.  The local account executive looked at both, was visibly embarrassed and said that the Mexico City office did not give them any way to override their decision. 

If you're thinking about opening a Citibanamex account be aware it may be a massive waste of time. 

[Mostlylost]

4 hours ago, tazman said:

Update:

I spent 2 hours with a Citibanamex account exec filling out the paperwork and answering questions as they entered the information in to their computer.  They then informed me that the account wouldn't be opened for at least 45 days after all the information was sent to Citibanamex's Mexico City office.

Yesterday I went back to the bank and was informed the account was cancelled because my signature did not match my signature.  Some bean counter in Mexico City decided that the nearly identical signatures on my passport and the application form were not the same although they clearly are.  The local account executive looked at both, was visibly embarrassed and said that the Mexico City office did not give them any way to override their decision. 

If you're thinking about opening a Citibanamex account be aware it may be a massive waste of time. 

BBVA has always been friendly to foreign account holders even designating them as preferred accounts. There is an 800 number that answers in English if you need help. Their app is easy to use. 

[Whipstock]

On 4/24/2023 at 2:01 PM, jrod said:

CiBanco is the only one I know of:

https://www.cibanco.com/es/cibanco/tarjeta-multidivisa-cicash-multicurrency

Intercam also offers a prepaid multicurrency card. Maximum amount that you can put on it is $10,000 USD.

https://www.intercamcashpassport.com.mx/

[tazman]

On 6/23/2023 at 4:53 PM, Mostlylost said:

BBVA has always been friendly to foreign account holders even designating them as preferred accounts. There is an 800 number that answers in English if you need help. Their app is easy to use. 

Went into BBVA a couple of weeks ago and they were happy to start the process of opening an account.  The account rep who helped us spoke English and was pleasant and helpful.  Today they provided an ATM card and took an initial deposit.  

Thanks for the recommendation. 

 

[Doug Hogan]

I use 2 different prepaid debit cards here in Mexico for paying bills / purchases online. The cards are Ualá  and Albo, both are ordered via the internet and can be loaded with a sepi transfer from my Mexican bank. They work for paying services  like Netflix, Cfe etc.  and also online purchases from Amazon and Mercado Libre . 

https://www.uala-abc.com.mx/

https://www.albo.mx/

[Mostlylost]

7 hours ago, Doug Hogan said:

I use 2 different prepaid debit cards here in Mexico for paying bills / purchases online. The cards are Ualá  and Albo, both are ordered via the internet and can be loaded with a sepi transfer from my Mexican bank. They work for paying services  like Netflix, Cfe etc.  and also online purchases from Amazon and Mercado Libre . 

https://www.uala-abc.com.mx/

https://www.albo.mx/

Just curious  If you have a Mexican bank account why don't you pay those bills directly from your Mexican Bank?  You could pay with your Credit card or  Debit card from your own bank,

[Doug Hogan]

On 8/2/2023 at 5:41 PM, Mostlylost said:

Just curious  If you have a Mexican bank account why don't you pay those bills directly from your Mexican Bank?  You could pay with your Credit card or  Debit card from your own bank,

I basically don't trust some retailers and online service providers to keep my data secure. I only load the prepaid cards with enough money required for the transaction. 

[Ferret]

And that's why I prefer paying cash at Oxxo if it's an available option.

[Mostlylost]

8 hours ago, Doug Hogan said:

I basically don't trust some retailers and online service providers to keep my data secure. I only load the prepaid cards with enough money required for the transaction. 

If you are paying online you use the electronic card your bank will offer that changes the pin every 5 minutes. Without that the card is useless to some online company or a hacker after the pin expires.        If you are using the retailer's terminal it does not save your information after the purchase. so they do not have any of your data to keep secure.

If you are loading the prepaid cards from  a company most people have ever heard of...you trust them to keep you information more secure than your own bank's electronic card?

[Linapolo]

On 1/29/2023 at 11:11 PM, tazman said:

That's what we generally do too, but we're sometimes out of Mexico when the bill comes due.

Just prepay at Cfe a few thousand pesos at their Chapala atm

[tazman]

2 hours ago, Linapolo said:

Just prepay at Cfe a few thousand pesos at their Chapala atm

You make it seem so simple, but like many things in Mexico it isn't.  Not with CFE and not with CESPE.

We have a small solar installation that normally offsets most of our electricity usage.  The month after prepaying a few hundred pesos our bill was double what it normally is.  The summer solar credits we had built up were missing and no new credits were added.  I was getting ready to hire someone to have the solar panels checked when our credit balance ran out. 

To my surprise the next bill was back down to the normal amount and the solar credits we had been missing showed up all at once - hundreds of KWHs worth.  The only thing we can figure is that CFE's accounting software is unable to handle the combination of bill prepayment and solar credits at the same time.  Or maybe the problem was unique to our account, who knows?

That was a better experience than CESPE's handling of our water bill.  CESPE took the prepayment, pocketed it, and the pesos never showed up in our account.  We had the receipt but it wasn't worth the time and effort to try to get them to credit the ~$15 we had prepaid. 

We learned our lesson.  We now pay exactly what we owe every month.  With a BBVA account it should be easy going forward.