Lake Chapala's INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.

Join the forum, it's quick and easy

Lake Chapala's INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.
Lake Chapala's INSIDE LAKESIDE
Would you like to react to this message? Create an account in a few clicks or log in to continue.

CPP/OAS deposits to Mexican Bank Account

+5
CanuckBob
cypress
zenwoodle
hockables
DaveP
9 posters

Go down

CPP/OAS deposits to Mexican Bank Account Empty CPP/OAS deposits to Mexican Bank Account

Post by DaveP Fri Feb 27, 2015 6:41 am

Now that depositing Canadian Government pensions to a Mexican Bank Account has been in effect for some time, how many people here are taking advantage of it?
I am curious about when they are deposited here, (later than in Canada?) if so how much later? Is the date of deposit consistent? What is the exchange rate like? Satisfied or not? Is your Mexican bank charging a fee for receiving the transfer? My Mexican bank charges a fee for wire transfers..

I have clients who are asking about direct deposit to Mexico and I would like to give them an intelligent answer. Well hopefully intelligent. Reliability is what concerns me.

Your comments will be appreciated.

Please no cyber bullying or flaming. I can't stand it.

BTW the new dial direct # from Mexico for Service Canada only gets you to a Canadian who will tell you where to call for the service you need. Says "call collect". I wonder how that works? Basically the # is just 800 O CANADA extended to Mexico. Wasn't a great service in Canada, no better here.
DaveP
DaveP
Share Holder
Share Holder

Posts : 774
Join date : 2010-04-05
Location : San Antonio Tlayacapan
Humor : A little English

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by Pedro Fri Feb 27, 2015 7:50 am

"service canada" is an oxymoron. vonage is super to phone OAS[613-957-1954]
CRA[613-940-8495]. i had a tax problem in the new year with my cpp and oas. the cpp problem was cleared up by someone at the latter # in january starting feb. and the oas is being attended to at the former # and i was told would be accomplished at the march payment 3 days ago.
i gave up trying to get anything done by "service canada" operators many moons ago.
Pedro
Pedro
Share Holder
Share Holder

Posts : 4597
Join date : 2012-11-29
Age : 81

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by DaveP Fri Feb 27, 2015 8:08 am

Thanks Pedro for your words of wisdom but my main purpose was to find out if anyone is getting direct deposit to Mexico. The comments on the direct line were only a BTW. Everyone knows that you get no service from Service Canada.
DaveP
DaveP
Share Holder
Share Holder

Posts : 774
Join date : 2010-04-05
Location : San Antonio Tlayacapan
Humor : A little English

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by hockables Fri Feb 27, 2015 9:29 am

We are not receiving Direct Deposits ...
but I think I might be concerned about fluctuating exchange rates..
It hasn't been a big concern recently, but signing on to automated transfers from one country to another
might leave you unduly exposed.

just say'n is all Beer
hockables
hockables
Share Holder
Share Holder

Posts : 3748
Join date : 2010-04-06

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by zenwoodle Fri Feb 27, 2015 10:46 am

I still have them deposit to my Canadian bank, and use Canadian Forex to bring the funds down here as needed.
Good exchange rates, and I take advantage to any big fluctuations in the rate.
Been doing this for 3 years now. Beer
zenwoodle
zenwoodle
Share Holder
Share Holder

Posts : 1491
Join date : 2012-07-17
Age : 75
Location : Ajijic, formerly from Ontario
Humor : Sarcastic, but nobody seems to get it

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by cypress Fri Feb 27, 2015 2:56 pm

I can't answer your question but I had to use call collect on the CRA website and it worked perfectly. No questions asked-it was automatically accepted. The person I was passed on to was most helpful.

cypress
Share Holder
Share Holder

Posts : 904
Join date : 2012-05-16
Location : Ajijic

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by CanuckBob Fri Feb 27, 2015 8:36 pm

I have everything deposited to my Scotia account in Canada and use the Scotia bank ATM machine down here with no fee's. Personally I wouldn't put any money into a Mexican bank unless I had to.
CanuckBob
CanuckBob
Share Holder
Share Holder

Posts : 20541
Join date : 2010-04-04
Age : 61
Location : Lake Chapala (from Vancouver)
Humor : Sick and twisted

https://casadecomo.mx

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by Pedro Fri Feb 27, 2015 10:42 pm

CanuckBob wrote:I have everything deposited to my Scotia account in Canada and use the Scotia bank ATM machine down here with no fee's. Personally I wouldn't put any money into a Mexican bank unless I had to.
good plan and same here.
Pedro
Pedro
Share Holder
Share Holder

Posts : 4597
Join date : 2012-11-29
Age : 81

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by conejorapido Wed Mar 04, 2015 2:59 pm

Both of us get direct deposit to Bancomer. Happens on time every month and the exchange rate is fine.

conejorapido
Share Holder
Share Holder

Posts : 155
Join date : 2014-02-23

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by DaveP Wed Mar 04, 2015 3:49 pm

conejorapido wrote:Both of us get direct deposit to Bancomer. Happens on time every month and the exchange rate is fine.

In Canada the deposit date is 3 working days before the end of the month. Is it the same here?

Thanks
DaveP
DaveP
Share Holder
Share Holder

Posts : 774
Join date : 2010-04-05
Location : San Antonio Tlayacapan
Humor : A little English

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by conejorapido Wed Mar 04, 2015 4:28 pm

Pretty much, unless there is a holiday in which case it is usually earlier rather than later.

conejorapido
Share Holder
Share Holder

Posts : 155
Join date : 2014-02-23

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by Mainecoons Wed Mar 04, 2015 5:45 pm

It is better to deposit to an account up there and draw out cash here. That way you can play the exchange rate and build cash when the rates are particularly good.

Considering the real solvency of most banks in the U.S. it is probably a toss up as to whom is worse, there or here these days. Mexico as a country is much sounder fiscally now than the U.S. They seemed to have learned their lesson from the mid nineties meltdown.

Mainecoons
Mainecoons
Share Holder
Share Holder

Posts : 1950
Join date : 2010-11-28
Age : 80
Location : Ajijic
Humor : Mad Magazine

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by DaveP Wed Mar 04, 2015 5:53 pm

Mainecoons wrote:It is better to deposit to an account up there and draw out cash here.  That way you can play the exchange rate and build cash when the rates are particularly good.

Considering the real solvency of most banks in the U.S. it is probably a toss up as to whom is worse, there or here these days.  Mexico as a country is much sounder fiscally now than the U.S.  They seemed to have learned their lesson from the mid nineties meltdown.


With the way exchange rates are at the present and the maximum daily withdrawals the difference is hardly likely to buy you a beer. Besides the Canadian Government is going to get a much better rate of exchange than you will ever get on your own. They exchange in bulk and deposit in pesos

I have clients who would like to know if other CANADIANS are getting their CANADIAN Government pensions deposited directly to their Mexican Bank Accounts. I fail to understand how AMERICAN experiences would affect these transactions. After all CANADIAN banks are super solvent when compared with USA Banks

Sorry Main but I did not ask about deposits of US GOVERNMENT PENSIONS, I asked for CANADIAN input.

We Canadians really don't care about the solvency of relatively small US Banks
DaveP
DaveP
Share Holder
Share Holder

Posts : 774
Join date : 2010-04-05
Location : San Antonio Tlayacapan
Humor : A little English

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by martygraw Wed Mar 04, 2015 7:38 pm

DaveP wrote:
Mainecoons wrote:It is better to deposit to an account up there and draw out cash here.  That way you can play the exchange rate and build cash when the rates are particularly good.

Considering the real solvency of most banks in the U.S. it is probably a toss up as to whom is worse, there or here these days.  Mexico as a country is much sounder fiscally now than the U.S.  They seemed to have learned their lesson from the mid nineties meltdown.


With the way exchange rates are at the present and the maximum daily withdrawals the difference is hardly likely to buy you a beer. Besides the Canadian Government is going to get a much better rate of exchange than you will ever get on your own. They exchange in bulk and deposit in pesos

I have clients who would like to know if other CANADIANS are getting their CANADIAN Government pensions deposited directly to their Mexican Bank Accounts. I fail to understand how AMERICAN experiences would affect these transactions. After all CANADIAN banks are super solvent when compared with USA Banks

Sorry Main but I did not ask about deposits of US GOVERNMENT PENSIONS, I asked for CANADIAN input.

We Canadians really don't care about the solvency of relatively small US Banks

Hear ! Hear !
martygraw
martygraw
Share Holder
Share Holder

Posts : 612
Join date : 2010-04-05
Age : 86
Location : Jocotepec

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by Pedro Wed Mar 04, 2015 9:15 pm

martygraw wrote:
DaveP wrote:
Mainecoons wrote:It is better to deposit to an account up there and draw out cash here.  That way you can play the exchange rate and build cash when the rates are particularly good.

Considering the real solvency of most banks in the U.S. it is probably a toss up as to whom is worse, there or here these days.  Mexico as a country is much sounder fiscally now than the U.S.  They seemed to have learned their lesson from the mid nineties meltdown.


With the way exchange rates are at the present and the maximum daily withdrawals the difference is hardly likely to buy you a beer. Besides the Canadian Government is going to get a much better rate of exchange than you will ever get on your own. They exchange in bulk and deposit in pesos

I have clients who would like to know if other CANADIANS are getting their CANADIAN Government pensions deposited directly to their Mexican Bank Accounts. I fail to understand how AMERICAN experiences would affect these transactions. After all CANADIAN banks are super solvent when compared with USA Banks

Sorry Main but I did not ask about deposits of US GOVERNMENT PENSIONS, I asked for CANADIAN input.

We Canadians really don't care about the solvency of relatively small US Banks

Hear ! Hear !
yes indeed!!
Pedro
Pedro
Share Holder
Share Holder

Posts : 4597
Join date : 2012-11-29
Age : 81

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by CanuckBob Thu Mar 05, 2015 6:39 am

Its not the solvency of the Mexican banks I would worry about. It is the corruption and fraud. If your money goes missing while in a Mexican bank good luck getting anything back.
CanuckBob
CanuckBob
Share Holder
Share Holder

Posts : 20541
Join date : 2010-04-04
Age : 61
Location : Lake Chapala (from Vancouver)
Humor : Sick and twisted

https://casadecomo.mx

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by Pedro Thu Mar 05, 2015 7:59 am

i'll stick to my canadian bank[scotia] because unlike here my money is insured in canada.
as i have said before -i only use the scotiabank machines which are everywhere here. what could be easier and safer?
Pedro
Pedro
Share Holder
Share Holder

Posts : 4597
Join date : 2012-11-29
Age : 81

Back to top Go down

CPP/OAS deposits to Mexican Bank Account Empty Re: CPP/OAS deposits to Mexican Bank Account

Post by Sponsored content


Sponsored content


Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum