I have a banking question! I found some info on a CC search, but it was from 3 years ago... so maybe things have changed here in Cancun. (*chuckle*) Anyway, does anyone know if it's possible to transfer money from a US account into a Mexico account? If so, what kind of fees do they charge? I'm planning on asking at our bank next week, but I wanted to see if ya'll had any first-hand experience first! Thanks.
No direct experience of transferring money from my own US account (I dont have one) to Mexico but it should be relatively easy to set up. Least, I know it's easy to set up from the UK if I were to ever need to. When you're sending money to yourself its usually an "ACH transfer". You just need to give your US bank all the relevant banking codes (e.g. IBAN, BIC, Acc No) for your Mexican account and instruct them how much to send. Any charges should be from the sending bank not the receiving bank, although the Mexican bank will probably use the exchange rate to their advantage I do receive my monthly Google Adsense payment (from the US) direct to my Mexican account, and there are no charges levied by Banamex to receive it. There probably are charges at the other end but those are covered by Google. This is slightly different to what you want to do because its a payment from a third party (wire transfer) rather than swapping money between your own accounts (ACH transfer). Anyhow that's how I understand it, I'm no expert. Give your US bank a call and explain you want to do an ACH transfer and they should help you from there.
No charge to us when we transfer money into our Mexican bank account, and the wire fees charged by the originating bank will vary.
