More changes at BBVA concerning USD paper checks

I was surprised to learn that as of May 27, 2024, BBVA México (formerly BBVA Bancomer) is only accepting checks for deposit denominated in U.S. dollars that are drawn on the following on 11 banks:

BBVA N.Y.
BNP Paribas USA
Standard Chartered Bank
Bank of New York
Citibank N.A.
HSBC N.Y
JP Morgan Chase Bank
U.S. Bank
Comerica Bank
KeyBank National Association
Fifth Third Bank

Today they would not accept for deposit a paper check from Well Fargo Bank because that bank is not on their new list. Bank of New York is on their list, but they would not accept a check from The Bank of New York Mellon because the names were not the same (even though New York Bank changed their name to Bank of New York Mellon way back in year 2007).

It is clear BBVA México is pulling away from servicing clients that have bank accounts or do business with bank accounts in the USA.

Not sure why expats (other than those operating businesses) open a MX bank account.  Never had one, been here since 2008.  Bought 2 homes, remodeled both, bought a new car here, paid out of pocket for several surgeries here.  

Get a Schwab card....no ATM fees anywhere in the world.  Great exchange rate.  

Since credit card chip readers are now common here (even Lopez Fruteria accepts with no upcharge!), we deal less and less in cash.  Almost all eateries take cc's as does Traitte.  

Why fool with a foreign bank or investment house where rules can change.  

If a US citizen you may be liable to file annual reports with IRS via FBARs (if at anytime the sum of your outside US accounts add up to 10K USD equivalent or more (even for 1 day!).   

Keep it simple, my motto    

When I was having my house built, there is no way I would have had enough pesos in cash to pay my crew every week and pay for my building materials by going to ATMs, unless I wanted to waste my time going to an ATM every day. I needed a Mexican bank account I could transfer large amounts of $ into from my Canadiian account.

What I'm rather bamboozed by is people who still use checks- it seems so passé in these days of online transfers and ATMs. I still have a checkbook stashed away somewhere, but haven't written a check in about 20 years.

And I have never experienced any problems with my BBVA account, ever.

Yes, I wire transfer money into my BBVA account from my Canadian Scotia account. Most banks have on-line wire transfer options now. Maybe look into that versus trying to write a cheque?

I do exactly the same, Scotiabank to BBVA. But I use xetrade EFT transfer. Isn't wire transfer more expensive?

Scotia charges $1.99

Good to know, Bob, thx. Next time I have to do a transfer, I'll compare the total transfer amount (exchange rate plus wire fee) of Scotia to the amount if I used xetrade EFT (exchange rate and no service fee).