Number 1- Why do I have to have my bank account at the same bank as my employer if I am on nomina? Number 2- Why do I not have any choice in the type of account I can open? Number 3- Why is internet banking not automatic? ARGH. Yes, I've lived here four years without having a bank account. Now I am switching to nomina at work and they informed me that I must get a bank account for automatic deposit (good thing when all is said and done really). Ok, great, I decided to go with Scotiabank as it has connections with a national Canadian bank. NO, can't do it, have to go with the same bank as my employer, why is that??? I don't get to exercise my consumer rights and shop around for my bank? Right then, ok, if that's how it's played let's go to the bank of the corporation. Two visits,3 hours later I have an account, but I had no options for services, fees, nada, they just said "nomina account", period. I have no idea what my fees are or what services are included, they just kept repeating "it's a nomina account". And when I asked for my internet password they said I would have to go through a whole other process (and pay the fees) for internet access. WTF? What year is this and I can't check my balance online? Why can't I choose my bank and my account? I am not a financial genius nor am I an economics major, someone give me some real reasons why, I know they must exist. Hubby just keeps telling me "Because it's Mexico" but I am tired of that answer.
My answer is similar except it's, "Because this is Mexico. Thats why". I feel your pain. Believe me I do. It was a total freakin nightmare to get my online banking finally done. After two visits to the bank and waiting several months to receive all sorts of activation numbers and passwords I finally got it working. But get this. I went to check it a few weeks ago and it seems they have now added a second password and to get it I have to contact the freakin bank! I give up. I mean they charge like 30 plus pesos a month for this crap. I don't get what sort of services I'm receiving. I don't even go to the bank. And you wonder why this is such a cash based society!
While we are at it, anyone could tell me why I CANNOT receive any money from abroad into my bank account? Today is the bank-complaining-day :roll: Mexico!!!
Well I want to send money from HSBC Cancun to HSBC England and they charge me $25usd to do so ! And it's a pain in the ass, they sent all the info to Mexico City only to call the next day to say it hadn't gone through so now I have to start over!
Yay, I hate the banks day! Now, where are the financial geniuses who can really explain why banking here is so different........Drewbert? TJ? Rivergirl? Yes, this was a rant but the questions were serious!
The reason you have to use the same bank is because your employer transfers money into your account via computer. It is preprogrammed to go in at a certain time. Transfers don't cost anything if they are done from the same bank. If the company had to transfer money to other banks, it would be time consuming and costly. Not to mention that you would have to wait for your money, because banks normally have a 1 or 2 day waiting period on transfers from other banks. A nomina account is a simple debit card. Since money is deposited on a regular basis, they don't charge fees. Hope this helped.
Thanks Wabash, I appreciate it. I just know that I have had the same bank account in Canada since I was five years old and never had any troubles with automatic deposit at any company I worked for, they never required a switch to their bank. I get a job, give them my account info and my money was there on payday. I know that "it's Mexico", I'm just trying to figure out how things work, I had assumed that in this day and age of internet and computers that it would be the same as in Canada. I should have known it always come down to money.
I don't know about you ppl, but I'm moving down there in part for the primitiveness of the place. I can't keep up with the technological advances here....I don't even know what an iphone is or why all the fuzz. I do know that if I don't know what it does, I don't need it. Mexico has a long ways to go technologically, and I hope it will not get very far very fast. My cable is being reset every 6 months, my new tv's I bought 2 years ago are obsolete, not to mention my top of the line Sony Vaio laptop, or my fax machine, rc helicopters, cell phone. All of my stuff is obsolete. My browsers have to be updated every 3 months. Every freaking supermarket here has discounts only if you carry their stupid membership card that records all your purchases. I have like 20 cards in my wallet I must use or pay more. How about cops pulling you over and dragging you to the slammer due to a parking ticket you didn't pay 20 years ago when they were not criminal offenses? Or a guy in his basement going through your credit report? My local union has an automated system to remind me to vote 2x a day a year b4 the election..... I'd say enjoy it while it lasts.
Bank Rant When we first moved down here in '04 we had the genius idea that we would open an account with Banamex, since they're part of Citigroup and Citibank is our US bank. Naturally the two banks have no interoperablility at all. We now bank with Banamex and Scotiabank. It took about 1 hour at each bank to open accounts and establishing on-line banking was an on-line process of no difficulty at all, with no time spent at either bank. As far as transfers are concerned, the secret, as far as tranferring into Mexico from the US, Europe, Asia and the Middle-East, is to have your 16 digit account number along with the normal things like bank address, telephone number and SWIFT number. BTW, the address of your branch may or may not be the same as the wire address. Speak with the bank manager to find out. Of course the bank never gives you your 16 digit account number unless you specifically ask for it. If you use all the correct info, but only use your "regular" account number, the odds are the transfer will hang in limbo and you'll have to pay fairly big bucks to get it returned. Don't ask how I know this . We had to pay an outrageous sum to Citibank and got clobbered on the exchange rate as well. Since being equipped with my 16 digit numbers I have had no problem tranferring money. As for the fees, that's a whole other topic of discussion.
Martin, I've lived here for four years on cash, no bank account, no credit cards, no nada. I don't have a fancy tv, we don't own a stereo let alone an MP3 player, we are not the types that want a lot of "stuff" or toys. Now that I am REQUIRED to get a bank account, I was surprised by what I have found in terms of "technological" advancements. Mexico may be behind in some ways, but I really expected more from the banks, they are some of the wealthiest companies in the country and I thought they would at the very least be up to 1998 Canadian standards. I don't think I was expecting too much, just the ability to check my account online. Being able to pay bills online would be a bonus so I don't have to continue to go to the CFE to pay my electric bill, to Aguakan to pay my water, to Telmex to pay my phone etc.. I'm always amazed that when we come here to post our experiences, some positive, some negative, people like to attack us and say "Oh but you are so lucky, you shouldn't complain". Well, no matter where you live there are good things and bad things and this is our forum for venting and sharing our experiences, good and bad. For everyone who says "if you don't like it, leave", I will ask if you are completely happy with absolutely everything about the place that YOU live. No place is perfect. This is just our way of finding support and people who are experiencing the same thing and a place to find advice and suggestions to deal with the problems that we encounter here. Just because we have different issues to deal with, doesn't mean that we are unhappy people or that we hate Mexico, just means we are human beings trying to live our lives the best way we can, the ups and downs and ins and outs. I hope this forum can give a realistic view of what it's like to live here, if we all just posted about our great day at the beach or our night out at the clubs, it wouldn't be an accurate portrait of "Life in Cancun".
