Apartment hunting tips, renting in Spanish cheatsheet & 11-point Move to Mexico Checklist! Download the FREE 32-page Move to Mexico Quickstart Guide (PDF) 👉🏼 backpackingbrunette.com/mexicoguide/
@bmyra
Жыл бұрын
Inbursa is a very good bank with branches in every city I've lived in. For some reason I never see it recommended. In any case, great video on an important subject. Appreciate your excellent info per minute ratio. You've always been very professional and succinct, which is a big reason you're the best. Gracias.
@alex-wittman
Жыл бұрын
Thanks for sharing your recommendation & I appreciate the positive feedback 🥰
@Wilfredos_
Жыл бұрын
Hi Alex! I am the newest Residente Permanente de Mexico, also got a TELCEL phone am😮go plan and a BBVA Bank account. ThankYOU Host Relication and Ivonne Pavaan!
@alex-wittman
Жыл бұрын
Congrats! So excited for you!!
@ivonnepavaan7521
Жыл бұрын
Our pleasure to help! 😊
@chasingtheAmericanDream
Жыл бұрын
I don’t know why your friend said you need an RFC… we have gone to several banks in different states and they never once asked for an RFC. All you need is a passport, residency card, and a bill and a Mexican phone number (and the bill needs to be in the same state as your residency card. ) Also, some banks will make you email or bring your lease agreement if you are renting and the name on the electric bill or water bill is not in your name. BBVA didn’t care if the name matched ours but CI Banco did. They wanted us to email them our lease. I also DO NOT RECOMMEND BBVA if you are foreigner! Just don’t!
@alex-wittman
Жыл бұрын
As I said in the video, the RFC is mandatory & even if the bank lets the requirement slide for now, they will ask for it down the road if they are in compliance with the government. Policy can be slow to take effect in Mexico. Banks in Guadalajara & Querétaro both asked for the RFC number, and we also had to give it to register our vehicle. Thank you for sharing your experience! It’s Mexico so things can vary.
@carefulconsumer8682
6 ай бұрын
Excellent summary. Very concise but informative. My brother is looking to buy a place in Mexico so I'll pass this info and your channel on to him since he'll have lots of logistical issues to think about. Thanks.
@user-go7vk4ky6j
3 ай бұрын
Some banks in Mexico offer 14% to 17% interest on your money
@ladyloops3204
Ай бұрын
😮 which ones ?
@rodrigoyanez5149
19 күн бұрын
CD's in Mexico give your around 11% return. SOFIPOS ( These are financial institutions designed to serve low-income individuals and micro, small, and medium-sized enterprises (MSMEs) in Mexico.) You could get a 17% return on SOFIPOS. Banks like in the USA really don't give you good interest on your money unless you buy CDs through them.
@ianfisher390
2 ай бұрын
Thank you for the great information Alex! My wife and I are retiring and moving to Mexico in 6-months. We live in California. We have so many questions. I am so glad we found your channel. In less than an hour I already have answers to many of my questions. I may have missed it, but do you have information on bringing cars and motorcycles to Mexico? Outstanding channel, a real public service!
@christopherbranski1720
Жыл бұрын
I have an account with Intercam in Mexico City and I was also not asked for an RFC-yet (this will be an account that I at least for now will solely use to pay online bills here.). But my question is this: when I applied online for a Mexican credit card, the RFC field was auto-filled when I entered my CURP, and it wasn’t the “XEXX” number they used to give to foreigners. And that same number appeared in the RFC field on the health insurance I now have. This may be a question for Ivonne, but given this is it possible that they’ve been automatically assigning RFC’s?
@genaroignot3332
Жыл бұрын
Buen video para el mundo.
@PlanFree
5 ай бұрын
Thanks for the info Alex, great job, nice and concise and we appreciate you putting the info our ther. Especially the part about NEEDING the RFC# now.... we were hoping to skirt that in some way.... haha But, in the end, it's always best to follow the rules. That is what we will do. ~ One questions about getting the RFC#.... do you think we need a physical copy of a wter bill or some other bill to bring in to the SAT office? Or would they accept a photo of a bill on our phones? Thanks again, Ayr & Lori @ Plan Free!
@davebacon6194
Жыл бұрын
Can't get more concise and correct than that. Mexicans are funny about little details, for instance when I opened an account at BBVA this year they required a water bill and wouldn't accept an electric bill. How do you guys like Guadalajara now that you've been there for a year, and did the car situation get resolved? Great info as usual, gracias!
@alex-wittman
Жыл бұрын
We’re loving GDL, Dave! The car situation is all worked out & we have already taken a couple of road trips to the beach. Here’s the full story if you’re interested: 7 things that SHOCKED us about buying a car in MEXICO kzitem.info/news/bejne/lqOcv22EspZzo5w
@reocam8918
Жыл бұрын
well since you mention wise, I offer a competitive alternative, revolut! basically, one rev for all countries!
@alex-wittman
Жыл бұрын
On the website, it looks like they're not in Mexico yet...if you know differently, please let us know!
@davidsebastianelli1326
10 ай бұрын
Hola Alex! Thanks for keeping us informed! I'm not sure if you will see this since this video is three months old. Do you need a print out of your CURP number or will the bank just take the number off of your resident card? Also you said the fee was less to transfer your money from your US bank to your Mexican bank using WISE at approximately 1 percent or less and then gave an example of Taylor transferring $1000us from his Schwab account for much less than 1 percent at $8.10us. The reason I'm asking is because I have a Schwab account and they have been great to deal with and they have a number one rated customer service. I also don't want to have to have a bunch of different bank accounts for obvious reasons. Muchas Gracias!
@douglasmlyn201
Жыл бұрын
There are several banks hear in the Lake Chapala area that will let you open an account without being a resident. When I got my residency I got an RFC and forwarded that document with them. But I was able to open the account before I got my residency. The bank I opened an account with is Banco Ve Por Mas, I am very happy with their service. My minimum balance is $5,000 pesos in order to get 6 free ATM withdrawals per month.
@alex-wittman
Жыл бұрын
Interesting! Thanks for sharing your experience!
@michaelleetrini3635
Жыл бұрын
Scotiabank is good for foreigners as you can withdraw money in the US for free at bank of America or any ScotiaBank in the world .plus other global banks ..
@alex-wittman
Жыл бұрын
Yes, Charles Schwab is another good option!
@michaelleetrini3635
Жыл бұрын
@@alex-wittman I was referring to having a Mexico Scotiabank account it global ATM alliance
@cindyk3076
Жыл бұрын
Great info as usual, thank you Alex!
@alex-wittman
Жыл бұрын
So glad you found it helpful, Cindy!
@ivonnepavaan7521
Жыл бұрын
Excelent info Alex.
@alex-wittman
Жыл бұрын
Thanks for watching, Ivonne!
@Marine-sz2lf
2 ай бұрын
I normally use Western Union to transfer money from my U.S bank to my Mexican bank for less that 2 dollars ( max transfer is less 5,000)
@tarey05
Жыл бұрын
Thank you, Alex; very useful info. Is there a credit union equivalent in Mexico? I don't like banks! 😮
@alex-wittman
Жыл бұрын
I'm not familiar with this particular option, but an initial search shows me that there are credit unions in Mexico & a credit union is a called a "caja popular." If anyone has more info on the subject, please share!
@fourthdeconstruction
Жыл бұрын
@@alex-wittman Yes, there are cajas populares (Credit Unions) but they're used to borrow money, no familiar if they function the same as in the US but you can always ask. These credit unions are almost in every city. Once settled in your neighborhood ask around for Caja Popular, but try to get to know someone in business with that entity.
@doodlethebeagle2078
Жыл бұрын
Mil gracias por todo 👏
@alex-wittman
Жыл бұрын
Claro, un placer! 😇
@Juanmanuely2022
Жыл бұрын
Banorte has given me the best service
@alex-wittman
Жыл бұрын
Thanks for sharing!
@alex-wittman
Жыл бұрын
Got a question for the Summer in 7 series or about how to open a bank account in Mexico? Ask away in the comments!
@roundpaws
Жыл бұрын
My understanding is that Intercam bank will let you transfer money from a U.S. account just by depositing a U.S. check at Intercam. No fees. Save that $8!
@alex-wittman
Жыл бұрын
Thanks for sharing!
@davidsebastianelli1326
10 ай бұрын
I know that BBVA wouldn't accept my US check made out to my landlord when I first moved here last year. They also don't give you an option at their ATM's to decline or accept their exchange rate. I cancelled my transaction when I knew the going rate was 18.25 and they said they were giving a 16.25 rate. I went down the block to the ATM at HSBC and they gave me a rate of 18.15.
@Kimtomaska
7 ай бұрын
Hello! Thank you for your video:) I have a question because I have heard conflicting information- do you need both a passport and a Social Security card? I was reading online and on the BBVA website that you only need one form of identity from the USA (not just state verification) to apply. I have only had my passport for many many years because somehow my mom lost my Social Security card many years ago.
@alex-wittman
Жыл бұрын
Even more info in this blog post, including my BEST Mexico money tip for withdrawing cash: backpackingbrunette.com/best-bank-mexico-expats/
@janeberryman3581
Жыл бұрын
Hi Alex thank you for info
@alex-wittman
Жыл бұрын
Glad you found it helpful, Jane!
@RigiLiquid945
Жыл бұрын
so awesome!
@alex-wittman
Жыл бұрын
Thanks, glad you found it helpful!
@genaroignot3332
Жыл бұрын
Buen video.!!
@oesso
6 ай бұрын
@Alexwittman What is the difference between a Mexican bank account vs American/international Bank account like wise where you can do currency exchange through the app and also allows you to use a regular visa anywhere Mexico is acceptable?
@CLTrattler704
2 ай бұрын
Question - How do you access Wise. Is it an APP with a subscription service or do you pay just when you transfer money?
@alex-wittman
2 ай бұрын
Just pay when you transfer money!
@yaniragonzalez1101
Ай бұрын
Do I need to be a Mexican citizen . ?? Or just reside in mex.
@juribastiaans3824
4 ай бұрын
Open an online bankaccount is still possible without an RFC.
@raulsanabria3263
5 ай бұрын
Hi Alex, How can l transfer money to Mexico to buy a house worth $ 100,000 US dollars ?
@carlab3866
Жыл бұрын
Question regarding money transfers from the YSA to Mexico: do you pay MX tax on transfers from the USA when it goes to your MX bank account? Our MX friend said if he xfers from his US acct to his MX account they take a slide because the bank has his RFC.
@alex-wittman
Жыл бұрын
There is a tax agreement between the US and Mexico so we don't get double taxed.
@genaroignot3332
Жыл бұрын
Hola saludos Alex
@alex-wittman
Жыл бұрын
Hola, gracias por ver!
@striveprosper295
4 ай бұрын
What about double nationality? American citizen born but then naturalized mexican citizen? Do i still need to have an address within mexico to open a bank account?
@alex-wittman
3 ай бұрын
The proof of address is for everyone, regardless of the documents you have.
@striveprosper295
3 ай бұрын
@@alex-wittman thank you so much for answering, youre awesome💪🏾
@MindTapt
Жыл бұрын
does your name have to be on the utility bill? like if we're in a long term Airbnb, the utilities wouldn't be under my name
@alex-wittman
3 ай бұрын
No, our landlord's name was on the proof of address we provided.
@Willopo100
9 ай бұрын
Does proof of address need to be in your name?
@Carolinapetroska
9 ай бұрын
Not true . They didn't ask me for an RFC number!
@melaniesmith3954
Жыл бұрын
Can proof of address be an Airbnb?
@Carolinapetroska
9 ай бұрын
No
@davidwebb4904
5 ай бұрын
What about non US citizens, who obviously do not have a SS number
@genaroignot3332
Жыл бұрын
Como estas?
@jeezustheone
6 ай бұрын
Sounds like they need to adopt Bitcoin
@commiezombie2477
5 ай бұрын
LOL Mexico aint got no ATM's. Gotta drive 5 miles just to find one 😂
@user-he8tm4nb1t
5 ай бұрын
En tu rancho no tienen
@sheba8433
2 ай бұрын
Banks and grocery stores have them 😂
@fourthdeconstruction
Жыл бұрын
Alex, get your INE card so you can vote in 2024 the most important election ever.
@cristinasalazar9293
9 ай бұрын
¡Viva México! ¡Viva Sheinbaum! ¡Viva la Cuarta Transformation! 🇲🇽💪 ✨💖🛠💖✨
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