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Discussion Starter · #1 ·
BANAMEX USA is sending letters to its customers here that it is closing all our accounts as of June 30.

No more SS check deposits: no more linking of accounts to Banamex Mexico, no more credit card, no more ATM for free, no more nada.

I had my doubts when I read this on my local forum, so I called the 800 number and spoke with a representative. It's all true. "Bank decision" no reason given.

We are now scrambling to find a new U.S. bank which does not require we be there in the U.S. in person to open an account; have a U.S. drivers license or a U.s. address. We would like to have that FDIC insurance before handing over our money.

So: this is a heads up. Anyone have any ideas; they will be welcome. Please, check the information and let's not just speculate.

Holey moley!!!
:eek:
 

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BANAMEX USA is sending letters to its customers here that it is closing all our accounts as of June 30.

No more SS check deposits: no more linking of accounts to Banamex Mexico, no more credit card, no more ATM for free, no more nada.

I had my doubts when I read this on my local forum, so I called the 800 number and spoke with a representative. It's all true. "Bank decision" no reason given.

We are now scrambling to find a new U.S. bank which does not require we be there in the U.S. in person to open an account; have a U.S. drivers license or a U.s. address. We would like to have that FDIC insurance before handing over our money.

So: this is a heads up. Anyone have any ideas; they will be welcome. Please, check the information and let's not just speculate.

Holey moley!!!
:eek:


Well I do not who is telling the truth but after reading your post I called the 800 number and the representative stated it is not true, they are still a member of Citi bank group .and nothing has changed........who knows ????????
 

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Discussion Starter · #4 ·
As I stated in my post, I called the representative, who looked up my account and assured me that the letter is in the mail.
Yes, my account will be closed.

Others are reporting that not all accounts will be closed, but no one is willing to say why. My account has been with them for over ten years. Never had a problem with the bank. It's been linked to the Banamex Mexico account for at least nine years.

I would suggest that anyone who is a customer call them up at their 800 number, have the representative look up their account and get the information directly.

I would never rely on "someone else's" information on this important a matter. That would be just plain dumb.
 

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Well I do not who is telling the truth but after reading your post I called the 800 number and the representative stated it is not true, they are still a member of Citi bank group .and nothing has changed........who knows ????????
This is what I wrote a couple hours ago, he said I would be getting a letter by Fedex or DHL in a few days, after looking up my account he said nothing would change, maybe the difference is I do not have a Banamex account ( where I could make $10K transfers a day) and do not need to have any Mexican bank account...now with all the FATCA BS happening I am glad I don't have one...
 

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Discussion Starter · #6 ·
Lucky you. It was advised by "experts" some years ago that it was the "thing to do" and of course we were influenced by the fact that we could get pesos at the Banamex ATM'S fee-free.
I have no idea what the criterion for closing some accounts and not others could be. Our balances have been all over the block over the years in terms of high or low. A little bird is telling me it has something to do with the govt.
 

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Many expats who full-time RV in Mexico, and elsewhere in North America, and who have no bricks and morter residences establish residences in South Dakota which welcomes such residency and, therefore, they are able to establish banking relationships and have a place/bank at which to deposit their SS and other checks and have a mail forwarding service. Maybe such a residency will work for people finding themselves with no other options.
 

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American Expats after July 1 may have problems with banks outside the US, and some banks will not anymore except US dallars, because of a new US Federal Law that goes into affect July 1st?
When my wife took a trip to Thailand last month, she had a grand or so in US money. She went all over Bangkok to dozens of banks, includeing US owned banks, and all but one would exchange the US money.
Bancomer, has as of now put a limit of 1500 bucks US, into expats accounts now; per month.
Look up the Federal Law on line the 1July, 2014 one:

http://investmentwatchblog.com/treasury-tweaks-u-s-anti-tax-dodging-law-effective-on-july-1

Banks just do not want to deal with the new IRS laws it puts on overseas out of country banks. If their banks have assets in the US, they can be fined, some will just drop US ciz from haveing accounts with their banks. They just do not want to deal with the paperwork the IRS is putting on them, and the costs involved.

On not accepting US money, they know the US dallor is going to crash. FYI

dd
 

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This is what I wrote a couple hours ago, he said I would be getting a letter by Fedex or DHL in a few days, after looking up my account he said nothing would change, maybe the difference is I do not have a Banamex account ( where I could make $10K transfers a day) and do not need to have any Mexican bank account...now with all the FATCA BS happening I am glad I don't have one...
This is all very strange to happen without a explanation from the bank. Could this be happening only to those accounts that do not have a US address, but a Mexican or other foreign address?
 

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When we tried to open an account without a US address we were turned down by various banks because we did not have a US address so why wouldn´t they give that as a reason if it was so.?
 

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When we tried to open an account without a US address we were turned down by various banks because we did not have a US address so why wouldn´t they give that as a reason if it was so.?
Open an account with an US address and then change it to a Mexican one after one moves to Mexico.
 

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One more thing....when you get a bank account with an Mexican bank they list your country your from. So that new IRS
Law that goes in effect July 1, will only affect Americans. I wonder around around the world will banks drop American account holders! The law will put a paper burden on these banks, and its said that it will also weaken the US dallor.

dd
 

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Longford....

Scared..yes! To much borrowing by the US Gov and monster social programs it can't afford, and throw in a fiscal policy to boot!
That might be a topic for the USA forum, or the Chat forum here (a link to which is found at the top of the Mexico forum page) ... but I think you're straying a little into the twilight zone here. :)
 
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