ATM info

Have a friend acquaintance looking for an ATM in the Chapala area that will transfer the most amount of cash from a US bank at a time. I know there are many different limits at various banks and since I don´t use the ATM´s other than for Mexican banks I would be guessing.
I did tell him that it would probably be CI Banco but wasn´t sure.

what I was told by Ci Banco service reps was the withdrawal limit is set by the US bank, not Ci Banco. The Visa system effectively governs the electronic transfer process, so they too may be the entity determining daily withdrawal limit. Seems this number is around $600usd or 11,000 pesos or so from my experience.

My Canadian bank has set my limit at $1500 Canadian dollars at my request. Just because an ATM has a limit doesn't mean that you can't use your card in back to back transactions. You're just going to pay more in transaction fees. I have done that many times when I had to accumulate funds for hospital payments.
There are also some ATM's that will spit out combinations of bills but that seems to be limited to the amounts to choose posted on their screens. If you choose an amount higher than anything they offer, then it comes out in only 500 peso bills. On the other hand, it's far easier to break a 500 these days... even at Tony's Take Out.

My bank allows $1000US per day.

Your bank where ever it may be sets the limit. (per day usually). ATMs here may not be set to release that much at one time so you may have to do it several times until you hit your bank limit. I can get about 19,000 pesos per day at HSBC.

I have a 1000CAD daily limit but no weekly limit, but rarely use it.
Instead my wife or I deposit a Canadian or US cheque at our Mexican Bank and the money is in our account in a matter of hours or less. We can then withdraw what we want at the teller. For a new account it would probably take a few days (5 or so)

DaveP wrote:I have a 1000CAD daily limit but no weekly limit, but rarely use it.
Instead my wife or I deposit a Canadian or US cheque at our Mexican Bank and the money is in our account in a matter of hours or less. We can then withdraw what we want at the teller. For a new account it would probably take a few days (5 or so)

How does the exchange rate you get doing this compare to what you would get using the ATM to withdraw from your US or Canadian account? If you know... Thanks.

Because my bank is a "virtual" bank with low overhead, the exchange rate is better than a brick & mortar bank.

Frijoles wrote:

DaveP wrote:I have a 1000CAD daily limit but no weekly limit, but rarely use it.
Instead my wife or I deposit a Canadian or US cheque at our Mexican Bank and the money is in our account in a matter of hours or less. We can then withdraw what we want at the teller. For a new account it would probably take a few days (5 or so)

How does the exchange rate you get doing this compare to what you would get using the ATM to withdraw from your US or Canadian account? If you know... Thanks.

it depends on the amount of the cheque. It is about the same as visa at the low end but goes up as the amount of the cheque increases.

Intercam gives a consistently terrible exchange rate on cheque deposits & takes full 5 days or more.. it is done thru their Citibank account, wonky.. If over $10K usd, a better rate is given, but just from terrible to average..

My check deposit at Intercam is available to me before I can get home.

Maybe I need to talk to Marta. Perhaps I am thinking of the time I wired money from the States... had to go to some Citibank account in NY.. that took 5 days.. And because I didn't call Marta & tell her it was coming.. it was another delay as they had to look around for it in Mex City... srsly.