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checking accounts

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Post by quiltbugj Mon Aug 06, 2012 2:58 pm

I"m interested in hearing what others' experiences are. It seems that most transactions are made in cash in Mexico. Do you find it necessary to have a Mexican checking account? We met with friends this weekend that have one and then realized the check has to be written in Spanish (of which they only speak a little) and apparently it cannot have any mistakes! I rarely write checks in the states any more.


Input is appreciated. Gracias.
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Post by Intercasa Mon Aug 06, 2012 3:11 pm

Checks are a hassle and not worth the trouble, open a savings account with debit card.
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Post by quiltbugj Mon Aug 06, 2012 3:14 pm

Intercasa wrote:Checks are a hassle and not worth the trouble, open a savings account with debit card.

Thanks, BTW we gave your firm's info to our friends.
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Post by Rolly Mon Aug 06, 2012 3:17 pm

I agree. Savings account OK, checking account NO.
More thoughts here: http://rollybrook.com/money.htm
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Post by quiltbugj Mon Aug 06, 2012 3:26 pm

Thank you so much, Rolly - I forwarded that information to my husband and bookmarked the page.
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Post by juanrey Mon Aug 06, 2012 8:26 pm

We thought we would have to open a checking / savings account when we first came down, but after inquiring why we needed one, we found we didn't. North American bank card & ATM gets the job done. FWIW
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Post by merry Mon Nov 12, 2012 8:41 pm

Rolly wrote:I agree. Savings account OK, checking account NO.
More thoughts here: http://rollybrook.com/money.htm

Thanks Rolly - appreciate the link.

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Post by seisdedos Mon Nov 12, 2012 8:52 pm

Wouldn't be without a checking account.
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Post by merry Mon Nov 12, 2012 9:03 pm

I stopped writing checks in the US about 10 years ago, now I only own a "checking account" because the name has not kept up with "debit account."

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Post by joec Tue Nov 13, 2012 12:39 am

Checking accounts are totally unneccessary in Mexico. It's a cash society and no one wants checks.

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Post by E-raq Tue Nov 13, 2012 7:38 am

seisdedos wrote:Wouldn't be without a checking account.


I agree. Too many businesses rely on them and don't want to pay above the odds for credit cards. We probably write about 20 a year.
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Post by joec Tue Nov 13, 2012 9:07 am

E-raq wrote:
seisdedos wrote:Wouldn't be without a checking account.


I agree. Too many businesses rely on them and don't want to pay above the odds for credit cards. We probably write about 20 a year.

WOW!!! Who do you write checks to???

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Post by little italy Tue Nov 13, 2012 9:21 am

I write 12 checks a year to my Property Manager.

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Post by little italy Tue Nov 13, 2012 9:31 am

oh I might add, they are us checks.

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Post by E-raq Tue Nov 13, 2012 9:43 am

joec wrote:
E-raq wrote:
seisdedos wrote:Wouldn't be without a checking account.


I agree. Too many businesses rely on them and don't want to pay above the odds for credit cards. We probably write about 20 a year.

WOW!!! Who do you write checks to???

Doctors, Placencia, etc.
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Post by hound dog Wed Nov 14, 2012 3:49 pm

We have a savings account at Bancomer and a checking account at Banamex both of which we use for similar services. The last time I wrote a check on the Banamex account, they returned the check for "irregular signature" - an absurd proposition out of the question in the U.S or France Since that sorry and needlesly embarrasing episode a couple of years ago, all banking transactions we have undertaken are done so through other measures including domestic electronic funds transfers. We pay all service providers and merchants in cash or by the use of debit card. Chacks are an unecessary and anachronistic form of funds tranfers in Mexico. Cah or debit cards are always sufficient and, for recurring payments through our Mexican bank accounts, electronic funds transfers are far more efficient. After writing an old-fashioned personal check here in Mexico to any service provider or merchant, go crank up the Model" "T and drive off up Route 66 to the nearest Wigwam Burger outlet for a Gresaeburger circa 1947.
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Post by E-raq Wed Nov 14, 2012 3:58 pm

hound dog wrote:We have a savings account at Bancomer and a checking account at Banamex both of which we use for similar services. The last time I wrote a check on the Banamex account, they returned the check for "irregular signature" - an absurd proposition out of the question in the U.S or France Since that sorry and needlesly embarrasing episode a couple of years ago, all banking transactions we have undertaken are done so through other measures including domestic electronic funds transfers. We pay all service providers and merchants in cash or by the use of debit card. Chacks are an unecessary and anachronistic form of funds tranfers in Mexico. Cah or debit cards are always sufficient and, for recurring payments through our Mexican bank accounts, electronic funds transfers are far more efficient. After writing an old-fashioned personal check here in Mexico to any service provider or merchant, go crank up the Model" "T and drive off up Route 66 to the nearest Wigwam Burger outlet for a Gresaeburger circa 1947.



Just sayin' Dawg, you want to pay a premium for electronic funds transfer, that's your business. We use cheques and have only once had one returned due to some stupid irregularity. Everyone just laughed. Our cheques are free on both accounts, Canada and here.
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Post by Jim W Wed Nov 14, 2012 4:04 pm

If you open an account at Intercam, no charge, you can write your check on your US account, they can issue a check in pesos to anyone you designate. Takes a couple hours for this service, but still no charge.
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Post by sundown Thu Dec 06, 2012 5:08 am

Checking account needed if you are building a house. Contracters, Maestros, material suppliers probably do not accepy credit/debit cards

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