CI Banco new bank in town

[InkaRoads]

I was refer to this bank by Kea, from here in the forum, CI Banco in Calle 13, across from El Jaripeo Restaurant, in the new shopping center in the south side of the street as soon as you pass the railroad trucks.
I used the ATM and to my delight the charges were only $17.40 pesos per transaction, introductory fee?, special new bank? who knows, so far it is a lot cheaper than others that charge anywhere from 35 to 75 pesos per trans.
The best part, you can open an account with a pic ID, passport, and a utility bill on your name showing your address in RP, no visa or migra involve, unless this a new ruling I have never heard of been so easy to open an bank account in mexico by a foreigner

 

[Kea]

I only tried the ATM, I didn't go into the bank itself. Did they give you any info about the fees or types of accounts they have? I'm not really planning to change banks. I just like to have the info.

 

[brokenwave]

20 years ago I had a checking/savings account at Bancomer without the FM3 requirement, but the low balance
fees (under about $500) and the peso losing 10-15% of it's value every month made me close it.
I saw my account go from $500 to 80 in 6 months because of all of the above.
I will check this new bank out now that the peso is pretty stable and I will be living in Mexico 4-6 months a year
in the next couple of years.
Thanks for the info.

 

[Roberto]

Why would you want a bank account in Mexico?? Service sucks, regulations are bizzare and parking is shitty. ATMs are everywhere to get the $$ from the states and you can drive to the bank in AJO in about the same time that you may wait in line for service here .

 

[ben21]

Why would you want a bank account in Mexico?? Service sucks, regulations are bizzare and parking is shitty. ATMs are everywhere to get the $$ from the states and you can drive to the bank in AJO in about the same time that you may wait in line for service here .

And once you find a spot, your car get washed with windex and newspaper without your knowledge while inside.

 

[mexicoruss]

As a legal resident and business owner in Mexico I find it very handy and moral to have a bank account here. My experience with the service is not that same as outlined above.

I go in early, take care of business and get out. I can deposit Mexican checks as well as American checks with no problem. I have a debit card on both accounts a credit card with one. It is totally convenient for both Naomi and I.

 

[Kea]

I use it to pay my TelMex & CFE bills online when I'm not in Peñasco.

 

[HILL BOY]

They pay my elect. And phone for free but you still have to maintain a 2000 peso bal. It is not the best but we are not paying any one to pay our bills

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[InkaRoads]

Why would you want a bank account in Mexico?? Service sucks, regulations are bizzare and parking is shitty. ATMs are everywhere to get the $$ from the states and you can drive to the bank in AJO in about the same time that you may wait in line for service here .

Sounds to me like some one had a bad experience!!!!

Anyway, I went back and open and account, there is no minimum to maintain as long as you have movement in the account at least once every 2 month, no monthly fees other than NSF or bad checks, no fees in dollar to peso exchange neither! they gave me a generic debit card in the spot and it takes 10 days for the debit card with your name to be on your hands, they also gave me a code apparatus for security purposes, not bigger than a Bic lighter, for phone banking.

I wrote them a check from my US bank, this is a secondary account use as the exchange account with no charges and is part of the main account, it takes 9 days for them to cash, once cashed it is transfer to your account in pesos, because of the nine days check cashing period between mexico and US bank there is never a late fee, there might be fees from your US bank depending how you have it set up, so check with your own US bank for international check fees.

Some of you might know the original Money Exchange Company, it used to be one of the only 3 legal entities in RP 7 years ago, do not remember the name she gave as I never used them or any other, however them and a NY bank joint together for these CI Banco venture as of a year ago and for what she says it is going very stong, they are not offering all the services as they have in larger cities but plan in adding more as time and needs require.

There is nothing that apiece everybody!! as we say "Sobre sabores y colores, no han dicho nada los escritores" but you'll never know unless you try!!

 

[Kea]

Sounds interesting. Again, I'm not sure that I need to change banks at this time, but it's good to know there is a good alternative.

 

[HILL BOY]

They pay my phone and elect for me @no charge but you do have to maintain a min of 2000 pesos

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