Intercam Banco new "tariffs"

by Casa Juan @, Thursday, September 05, 2019, 23:57 (43 days ago)

Learned today that starting Monday Sept 9th, Intercam Bank will levy a $10 USD charge on funds wired to their NYC Citibank account prior to transfer to Mexico. I am asked twice to confirm with Fernando today and he assured me that it was correct. Can't imagine what fees they will charge when a gringo shows up with a US money order of some type that they just want to deposit into their own Intercam account.

Time top start looking for another Mexican financial institution to do business with. No thanks not interested in Capital One.:-(

Intercam Banco new "tariffs"

by midalake @, Friday, September 06, 2019, 07:45 (42 days ago) @ Casa Juan

Learned today that starting Monday Sept 9th, Intercam Bank will levy a $10 USD charge on funds wired to their NYC Citibank account prior to transfer to Mexico. I am asked twice to confirm with Fernando today and he assured me that it was correct. Can't imagine what fees they will charge when a gringo shows up with a US money order of some type that they just want to deposit into their own Intercam account.

Time top start looking for another Mexican financial institution to do business with. No thanks not interested in Capital One.:-(

All of my banks in the US charge me for an incoming wire. It might be the sign of the times that Mexican banks are learning what others do to increase profits.

On the other hand sending money to Intercam is saving me money by being a domestic wire NOT an international wire.

The best way to add money to your Mexican account is still by withdrawing at an ATM and depositing into you account while you are in Mexico. I usually hit a peak in the peso during the times I am there. You also will get a higher rate of exchange from the ATM than Intercam will give you. Obviously, this is not a good process if you need 10k in your account tomorrow.

D

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Intercam Banco new "tariffs"

by mexicoman @, Zihuatanejo, Friday, September 06, 2019, 08:58 (42 days ago) @ midalake

Transferwise.com. Extremely low transfer fees. Exchange rate that is about the same as Bank of Mexico at the point in time of the transfer guaranteed for 48 hours. They collect the money from your bank and move it to their NY account. When that is credited they make a domestic transfer from their BBVA account in Mexico to the local bank in Zihua. My Soc. Sec. transfers made in the morning arrive around 3pm the same day. Other people report a 24 hour time period for transfers. You can transfer money from a debit card if you prefer not to divulge your bank account number or routing number. It's a no brainer.

Intercam Banco new "tariffs"

by Casa Juan @, Friday, September 06, 2019, 11:44 (42 days ago) @ midalake

your suggestion is a decent alternative for small transactions, as you say not so good for transferring larger amounts. I guess I have been spoiled by Intercam not charging me a fee to transfer money to my account. I do like the personal help I get from the local Intercam personnel at the Ixtapa branch. I have not been to their Zihua branch yet.

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Intercam Banco new "tariffs"

by mexicoman @, Zihuatanejo, Friday, September 06, 2019, 15:27 (42 days ago) @ Casa Juan

You can send up to $200K with Transferwise.

Intercam Banco new "tariffs"

by Charlybby, Saturday, September 07, 2019, 21:50 (41 days ago) @ Casa Juan

When did they open one in Zihua? Wasn't one in April when we left?! That would be nice!

Intercam Banco new "tariffs"

by Charlybby, Saturday, September 07, 2019, 22:34 (41 days ago) @ Charlybby

Oops!!! Yes there was one by the new cinema! Sorry, forgot:-)