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The Truth about Actinver Bank (good news)

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Post by MexicoPete on Tue Jul 24, 2012 12:14 pm

OK I went to Actinver and learned that much of what some of you believe, is not quite how it works

There have been some very false and negative comments made about Actinver, on this and other forums. For example one person posted that if you deposited a check at Actinver, it would take 6 weeks to clear before you could get your money and that they required an additional 50% set aside. This person wasn’t lying, s/he just didn’t know any better, (which is often happens with us older folks).

I went to Actinver to learn the truth. Yes, when you deposit your check here, it goes to a clearing house, and the clearing house could take it’s time before they process the check with your bank up north and yes Actinver requires an additional $50 dollars,(not 50% of the value of the check) set aside should your check bounce. Now should you need your money sooner than in six weeks, all you need to do is show proof that the amount of the check has cleared your account up North. So often in as little as three to five days, simply go on line to your US bank account and print out a copy of your account activity sheet showing that your check was cashed. (I don’t know about other countries) Bring it in and you are in business.

Another false fact is that the rate of exchange at Actinver is much lower than the competition. According to the manager of the Ajijic Actinver account, now that Actinver is a bank, their preferred rate of exchange is much better and competitive. And through my own experience, I found that when wiring money to my Actinver Stockbroker that the exchange rate was competitive with the competition.

I've never had a problem there during the 15 years I have banked there. Oh, I take that back, sometimes the coffee was a little colder than I liked. But now with their new coffee machine, as long as it continues to work, we are in business
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Post by ferret on Tue Jul 24, 2012 12:42 pm

I realize your experiences have been peachy keen with Actinver. Ours have not.
They send cheques to a MANUAL clearing house, they do not do them electronically themselves.
I checked every day online for FIFTEEN days before that cheque finally cleared my bank account. Then showing the proof, the funds were released.
They also have lost THREE bank transfers for up to 10 days.
I'm done with them.
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Post by wheels on Tue Jul 24, 2012 1:22 pm

MexicoPete wrote:OK I went to Actinver and learned that much of what some of you believe, is not quite how it works

There have been some very false and negative comments made about Actinver, on this and other forums. For example one person posted that if you deposited a check at Actinver, it would take 6 weeks to clear before you could get your money and that they required an additional 50% set aside. This person wasn’t lying, s/he just didn’t know any better, (which is often happens with us older folks).

I went to Actinver to learn the truth. Yes, when you deposit your check here, it goes to a clearing house, and the clearing house could take it’s time before they process the check with your bank up north and yes Actinver requires an additional $50 dollars,(not 50% of the value of the check) set aside should your check bounce. Now should you need your money sooner than in six weeks, all you need to do is show proof that the amount of the check has cleared your account up North. So often in as little as three to five days, simply go on line to your US bank account and print out a copy of your account activity sheet showing that your check was cashed. (I don’t know about other countries) Bring it in and you are in business.

Another false fact is that the rate of exchange at Actinver is much lower than the competition. According to the manager of the Ajijic Actinver account, now that Actinver is a bank, their preferred rate of exchange is much better and competitive. And through my own experience, I found that when wiring money to my Actinver Stockbroker that the exchange rate was competitive with the competition.

I've never had a problem there during the 15 years I have banked there. Oh, I take that back, sometimes the coffee was a little colder than I liked. But now with their new coffee machine, as long as it continues to work, we are in business

We have never had a problem with them either. I would never deposit an out the country check here. Think of the chaos this would be if you deposited a check from a Mexican bank in either Canada or USA.

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Post by Trailrunner on Tue Jul 24, 2012 1:29 pm

Sorry, Pete, but my experience with them was not peachy keen either.

YMMV
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Post by sparks on Tue Jul 24, 2012 2:25 pm

Same day service with Intercam ... but they don't have stock brokers
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Post by johninajijic on Tue Jul 24, 2012 2:28 pm

Lloyd's-Activner are losers. Who's dumb enough to keep money there with their dumb regulations. Not me! Go to MULTIVA or Intercam for the best service.
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Post by CheenaGringo on Tue Jul 24, 2012 3:00 pm

If this conversation was being conducted about banks NOB, there would probably be a similar assortment of opinions!

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Post by johninajijic on Tue Jul 24, 2012 3:11 pm

wheels quote - "I would never deposit an out the country check here. Think of the chaos this would be if you deposited a check from a Mexican bank in either Canada or USA."

Why not? I deposit checks to MULTIVA, 6 - 7 times a year and have NEVER had a problem. They clear my bank in 3 days and MULTIVA holds the money back for two weeks max. They have even transferred money to my checking account without enough back up money in my Multivalores Investmnt account.
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Post by Ms.Thang on Tue Jul 24, 2012 3:36 pm

Pete, sometimes Actinver s practices differ from their policies. Like the practice of freezing 50% of the amount of the check you deposited. They do that. They have done it to me and didn't offer a viable explanation either. This is the sort of thing that pisses people off and sends them elsewhere with their money.
in my case, they did not explain the deal about showing them that my check had cleared my bank, they just told me ''nope, hasn't been 6 weeks yet" Lo siento, buh-bye.

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Post by otrocanuck on Tue Jul 24, 2012 3:44 pm

I have only been in Chapala for less then a year now , and confess to very little knowledge of the local banking system. I opened an account with the MONEX Banco in Ajijic(relatively new there) for the purpose of transferring a large sum of money here to purchase a home. Monex is unlike other banks in that they do not handle cash or have tellers. Their main focus is money transfers and investments. I could not be happier with the agent that we have there, in fact he has become a friend because of the way he treated us so well. Monex claims to be able to transfer funds from any US or Canadian bank in twenty minutes, this has always taken longer then that for my transfers, but rest assured less then a day for sure. The agent we deal with there is Fransisco Sais de la Torre, a wonderful person and always eager to make his customers happy. Monex has some sort of partnership/agreement? with Bancomer so I can request a money transfer through Monex and the funds show up in my Bancomer account where I can access them from the local bank machine or from the teller, and get the cash Monex does not handle. I could not be happier with the service and would highly recommend Fransisco to anyone, he also is bilingual, a family man with a couple of young kids so he is eager to please his customers and show that Monex is the place to bank

.javascript:emoticonp('cheers')
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Post by johninajijic on Tue Jul 24, 2012 4:08 pm

otrocanuck - A very good informative post as I knew nothing about this Investment house.
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Post by MexicoPete on Tue Jul 24, 2012 4:29 pm

I know several of the folks who posted here and I respect them. So I do not know what to say. I just know that when I need money transferred down to Actinver, that I have the money wired to them from either my B of A or ML account, something I can also initiate when down here. I have never written a US check to deposit here, it can be too complicated, according to my financial advisor. Oh yes, I will use an ATM machine for money from my US bank. And it works for me. I’ve been doing it this way since 1997 and it works great. I’m sorry some of you have not been as lucky

PS I was transferring large amounts of US dollars when I constructed my house, so even the smallest difference in exchange rates was noted.
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Post by slainte39 on Tue Jul 24, 2012 4:41 pm

johninajijic wrote:Lloyd's-Activner are losers. Who's dumb enough to keep money there with their dumb regulations. Not me! Go to MULTIVA or Intercam for the best service.

John, I may disagree with you on restaurants but when it comes to banks, we are 200% in agreement.

Sorry to have to disagree with Pete on something, but I sure do here.

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Post by MexicoPete on Tue Jul 24, 2012 5:39 pm

Ms.Thang wrote:Pete, sometimes Actinver s practices differ from their policies. Like the practice of freezing 50% of the amount of the check you deposited. They do that. They have done it to me and didn't offer a viable explanation either. This is the sort of thing that pisses people off and sends them elsewhere with their money.
in my case, they did not explain the deal about showing them that my check had cleared my bank, they just told me ''nope, hasn't been 6 weeks yet" Lo siento, buh-bye.

It's not 50%, its $50 US to cover the cost of a check that bounced.

Now yes it is true some of the clerks don't know all of the rules. They don't up north either That's when it's time to see your personal banker, the one that was assigned to you when you opened your account. And if that doesn't work talk to the boss Aurora Michele (Spelling)
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Post by ferret on Tue Jul 24, 2012 6:49 pm

It is NOT just fifty dollars Pete...they froze my WHOLE account.
I'm really getting tired of this thread and the other one.
IT'S NOT WHAT WE BELIEVE...IT IS WHAT WE HAVE EXPERIENCED.
None of us that have had problems is stupid or naive...and I've had seventeen years of experience with first Lloyd and then Actinver. For the past three years, Actinver has lacked a good road record for us...in PV, in Bucerias and here in Ajijic. They have a problem and it needs to be addressed soon.
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Post by Jim W on Tue Jul 24, 2012 7:13 pm

wheels wrote:
MexicoPete wrote:OK I went to Actinver and learned that much of what some of you believe, is not quite how it works

There have been some very false and negative comments made about Actinver, on this and other forums. For example one person posted that if you deposited a check at Actinver, it would take 6 weeks to clear before you could get your money and that they required an additional 50% set aside. This person wasn’t lying, s/he just didn’t know any better, (which is often happens with us older folks).

I went to Actinver to learn the truth. Yes, when you deposit your check here, it goes to a clearing house, and the clearing house could take it’s time before they process the check with your bank up north and yes Actinver requires an additional $50 dollars,(not 50% of the value of the check) set aside should your check bounce. Now should you need your money sooner than in six weeks, all you need to do is show proof that the amount of the check has cleared your account up North. So often in as little as three to five days, simply go on line to your US bank account and print out a copy of your account activity sheet showing that your check was cashed. (I don’t know about other countries) Bring it in and you are in business.

Another false fact is that the rate of exchange at Actinver is much lower than the competition. According to the manager of the Ajijic Actinver account, now that Actinver is a bank, their preferred rate of exchange is much better and competitive. And through my own experience, I found that when wiring money to my Actinver Stockbroker that the exchange rate was competitive with the competition.

I've never had a problem there during the 15 years I have banked there. Oh, I take that back, sometimes the coffee was a little colder than I liked. But now with their new coffee machine, as long as it continues to work, we are in business

We have never had a problem with them either. I would never deposit an out the country check here. Think of the chaos this would be if you deposited a check from a Mexican bank in either Canada or USA.



I have been depositing US written checks @ Multiva for 5 years never an issue.....biggest caos NOB is getting ripped off on exchange rate. switched to Intercam last year, 2-3 checks per month.....instant pesos.....why anyone would screw around with Actinver is beyond me.....even for a 2-3 day hold. I can write my check out of US account and have a check issued in pesos to any bank or business....in hours, avoiding tax for cash deposit, in MX
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