Social Security

You get your SS check by direct deposit in your bank and take it out with you debit card same as in USA.

No need to change banks.  I've kept my Bank of America account and BofA has an agreement with Banco Santander so I don't have to pay a foreign transaction fee at their ATM's.

I'm with bbva compass bank,they are bbva bancomer here and likewise no transaction charges at the atm.If you want to make an international transfer with this bank it is another story.A lot of jumping through hoops just to get enrolled with that service.I use a European bank for transfers.

Mexico taxes on earned income so if you work in Mexico you might be taxed. The U.S. has complex schedules based on income and how you file, check this site out to get a sense of what you could pay or look further on the internet for those answers.  http://www.kcclaw.com/Events/Do-You-hav … rity.shtml

I think that's still true of most banks, anywhere.  With ATM's all over the place, I have never found the need. 

Depending where you live, a bus trip to the US might cost less than making the international transfer.

Over 60?, the 50% discount on bus fares work nice for me.

Making a transfer from Mexico to the US is difficult and dates back to money laundering by some banks. Sending money to Mexico from the US is easy. There are a number of companies that will do this at a reasonable price. All of them better than a bank wire. Of course, if your buying a house, God forbid, a bank wire transfers the largest amount cheaply.

Can you do that online from Mexico?  Just curious.

"Can you do that online from Mexico?  Just curious."

Do what?

Transfer money from a US bank account to someone or someone's account in Mexico using one of the services you referred to.

"Transfer money from a US bank account to someone or someone's account in Mexico using one of the services you referred to."

I do this monthly with XOOM.com. I usually wait until there is a good exchange rate and transfer enough for a month's expenses. The transfer is from my BofA account to my HSBC account. I had used wire transfer since I set it up to transfer a hunk of money to buy a car, but the exchange rate was really, really poor. I had tried PayPal a few years ago. I have both my BofA account and HSBC account (via debit cards) in the same PayPal account. Again the exchange rate was poor and it took around 10 day from withdrawal to deposit.

As far and I know, PayPal would be the easiest way to transfer money from Mexico to the US.

Transferring from US to "someone" else's account in Mexico: I have transfer funds from my US account to my Mexican account and then, with the account number of the other persons account, I transferred funds to them. I paid a doctor bill that way.

With compass bank in the states you can transfer up to 5000 dollars per month online.Provided you have been approved for this service.With Banamex,if you want to send money out of the country you must have the account open for 2 years, with BanamexI don't know why you would want to send pesos out of Mexico though.Sending large sums into Mexico a bank transfer is the way to go,although US banks make it difficult.I have a Bank account in Europe which I can send any amount of money to any account in the world,online.However,that works fine sending money to the states,Mexico is a different story.If for example you send more than 10,000 dollars to a Mexican bank be prepared to answer a lot of questions over a prolonged period of time.

Stinkyboy,   That has little to do with Mexico, and a lot to do with the U.S. Mexico has an agreement with the U.S about you answering questions and filling out forms. I'ts not Mexico's idea. Most of your problems with money and the U.S. are U.S. generated.

joaquinx wrote:

"Transfer money from a US bank account to someone or someone's account in Mexico using one of the services you referred to."

I do this monthly with XOOM.com. I usually wait until there is a good exchange rate and transfer enough for a month's expenses

As far and I know, PayPal would be the easiest way to transfer money from Mexico to the US.

Transferring from US to "someone" else's account in Mexico: I have transfer funds from my US account to my Mexican account and then, with the account number of the other persons account, I transferred funds to them. I paid a doctor bill that way.

Basically, I go to the ATM once or twice a month.  For rent and stuff I buy at places that only take cash, taxis, the laundry, the guy who diagnosed my phone not charging as due to a worn out cord and buying the replacement.  The second time is only if cash expenses are higher than normal.

I sent money from Europe to Mexico,the USA is not in the picture.I might want to add,you can send any amount of money as often as you like to the USA without a flicker of an eyelid from anybody.

Me too Gudgrief,I just decided to send a years worth of living money here when the euro hit 20 pesos.It will be the last time I do that due to the nightmare I had with banamex.

" you send more than 10,000 dollars to a Mexican bank be prepared to answer a lot of questions over a prolonged period of time."


This is what i was responding to stinkyboy. I was just explaining why that happens and who is responsible.

Yes,I think what folks need to know about all this is that the less you have to deal with mexican banks the better.Given this country's history I can understand them being suspicious about transactions that are regarded as routine in other areas.

80 % of the banks in Mexico you speak of, are not in fact Mexican at all. They are foreign banks that moved in and took advantage. There is a very small number of actual Mexican banks. Citicorp owns Banamex, HSBC is English, Scotia belongs to Canada, BBVA belongs to Spain, as well as Santander, ING is Dutch.  That leaves Mexico's big one Banconorte, and a few small ones.  So those banks you speak of are not Mexican banks at all.

Yes people do need to know that.