Intercam Banco new "tariffs"

by midalake @, Friday, September 06, 2019, 07:45 (11 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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