½ûÂþÌìÌÃ

Menu
½ûÂþÌìÌÃ

Info on banking in Mexico

Post new topic

romeandrea1

What is the best bank in Cuernavaca Mexico to open up a bank account I am American

MexicoAfterlife

You have a RFC and curp number you should need them.

romeandrea1

I am not  a Mexican citizen.  Are you saying that As an American I still need a rfc curp # to open a bank account.? This is personal not for business.

MexicoAfterlife

I am not a mexican citizen but I am a permanent Resident so I have a CURP and I went and got my RFC number.  you need these to open bank accounts, buy a car, buy a house.  Unlike the USA Mexico doesn't let just anyone do these things in Mexico only citizens and residents.

romeandrea1

Thanks. That very helpful.  I lived in Acapulco 25 years ago things were very different then!

MexicoAfterlife

ohh yes 2 years ago the SAT (Mexico IRS) changed the rules and all citizens 18 or older needed a RFC and they put the rules for banks, houses, cars yada yada needed a RFC.  Its pretty much resident or you are very restricted now.

romeandrea1

Yes. I worked for a timeshare company and they got my fm3 but  I heard now it isn't like that at all! 

Mimi C76

No you dont need an rfc number ! SHOW YOUR RESIDENT PERMIT..

Mimi C76

I don't know where the previous  man comes from.!!.I bought a car and a house I did not have a rfc number.  I have a mexican bank.the bank will create a  temporary  rfc number to open an account. 

It is very easy.  Ask help from professional  not tourist!!

MexicoAfterlife

@Mimi C76 my bank just requested my RFC for my account because the govt sat now wants them on every account straight from the manager. I am a premier member at hsbc mexico.  When it opened the account it was before the law change. Now per sat we should have a RFC on all bank accounts. But like all new things in Mexico it takes time to get everyone on board. So be ready for it if you have a bank account in Mexico. You didn't need a RFC to buy a car before. Just bought a new car 2 month's ago and it had to have my RFC to buy its. Things have changed. Like vacation visa doesn't always mean 6 months alot are getting 2 weeks. So living in mexico on a vacation visa us rolling the dice till you start to not get thick months anymore.

Mimi C76

Yes things change..I do have a RFC now.. thec2 weeks visa.. I went to the immigration because I had  heard about it.. their  reply was 6 months . There are specific cases one may get 2 weeks. But it is not the norm..perhaps for young  people.  For retirees I asked about it and it was 6 months.

romeandrea1

Yes I was told all one had to do was ask for the 6 months.  How about SS checks?  Are your SS checks sent to a Mexican bank? 

Mimi C76

The best thing  to do..I think.. is to have SS cheque deposit in your bank account. If you still have a  bank account  in usa  or else..that way you can draw some money  as you want.. if your SS cheque comes into a mexican bank  it will be in pesos.. and it will fluctuate. So you may want to think about it.

MexicoAfterlife

@Mimi C76 lol usa banks are tanking 1 at a time. They pay crap interest rates. If you live full time in Mexico you spend peso so your are effected by peso going up and down anyway. Might as well have a savings account with 5% interest and a 3 month CD rate of 10 to 12% interest. The money from all over the world is moving to mexico. Its the next world powerhouse.

Mimi C76

Be aware and do thorough  reading from serious sources.. all depends  on who you are, your needs and your life style! God bless you!

romeandrea1

Yes I agree.  Thanks for all info!!!!

MexicoAfterlife

@Mimi C76 serious sources you mean the bank press who will lie all day to protect the failing banks? Fed rates have been rising but interest rates payed to the customers has not. Add in all the delays to let people have access to their deposits.  And they are way over leveraged with loans compared to how much cash they have on hand. I am very well informed so that is why I don't trust usa banks. Credit unions are a different beast since they live by different rules.

Articles to help you in your expat project in Mexico

  • Banking in Mexico
    Banking in Mexico

    You do not need to have your own bank account in Mexico unless you are legally employed. ATMs are widely available ...

  • Dating in Mexico
    Dating in Mexico

    We can recognize an intrinsic spark of love in the Mexican culture, "la serenata." Remember that ...

  • Leisure activities in Mexico
    Leisure activities in Mexico

    Mexico has activities for everyone: from exciting adventure to peaceful relaxation, high culture to rowdy street ...

  • Working in Cancun
    Working in Cancun

    Cancun and surrounding areas are popular destinations for both tourists and expatriates alike. Cancun is the ...

  • Accommodation in Cancun
    Accommodation in Cancun

    Like in other parts of Mexico, the best way to find accommodation in Cancun is by searching for one while ...

  • Childcare and education in Mexico
    Childcare and education in Mexico

    Many Mexicans' lives, young and old, revolve around family issues. Children are accepted on most social ...

  • Travelling around Mexico
    Travelling around Mexico

    One of the best parts about living in Mexico is being able to travel across the country. Mexico may appear small ...

  • Buying property in Mexico City
    Buying property in Mexico City

    People travel from all across the globe to reside in Latin America because of its cultural richness and usually ...

All of Mexico's guide articles