Watch Before Mexico Residency or Bank Account!!! URGENT!
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- เผยแพร่เมื่อ 13 มิ.ย. 2023
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getting a Mexican bank account or a residency in Mexico can be a difficult task and because there is a lot of bureaucracy when it comes to certain things in Mexico you may just be turned away for every single thing that you apply for! watch this video so that you don't make the same mistakes that we did when getting your residency or getting a bank account in mexico!
Same thing happened to me!! They scan your passport on a computer system. I finally went to bank Coppel. They don’t scan your passport.
In the future I was told to get a new passport with a better signature. Yes, you are correct.. get a working Mexico phone as you need this for banking app. Please let folks know that they need their RFC.
Hey, thanks so much for dropping your experience! As far as an RFC goes that is probably up to the specific bank because we did not need one. Thank you again for the comment!
Thanky guys for these precious tips.
You’re welcome!
I'll move in Mexico next February and you have no idea how much useful are your videos!@@chasingtheAmericanDream
@@giordino68 So happy to help! 🥳🥳 That’s awesome!
Unfortunately, Mexico is very picky when it comes to names and signatures matching. My wife’s name is long so when she signed her voter card, she used 2 lines. To this day she has to sign any legal documents exactly like it appears on her voter card (INE). So all her signatures appear on two line.
Another big issue is name match. In Mexico they use your name since birth. Many married couples have had issues because in the US the wife sometimes changes their last name to their husbands last name. It causes problems here because sometimes the name on the passport doesn’t match the name on other documents or in a will, when the will was created the person was using their maiden name so when they go to claim the inheritance, Mexico does not recognize them with their new legal name. Here In Mexico your name stays the same for your whole life. The name format is name last name of father- last name of mother. Here in Mexico, my wife uses her name, not married name on all legal documents here In Mexico.
Wow! So stressful! 😬
Yup...that signature thing is a thing is Mexico.
Hahah, I agree with "Mexico loves its copy's" yep they want a copy of everything lol, not the original paper tho
Yes, your signature is almost like a fingerprint in Mexico.
Yeah that’s what we are finding out
We opened an account at Intercam Banco (an expat focused bank) in December 2019 and they made the process super easy for us, they were very helpful. They mostly have branches in expat heavy areas but there may be a branch near you.
I do know what you are saying with the "matching signatures". Almost everywhere we go and have to sign something they always tell me to make it as similar to the signature in my passport as I can, so far we've been okay. It is definitely a thing in Mexico.
Did the Intercam Banco tell you that your signature has to be the same as your residency card?
@@chasingtheAmericanDream When I opened my Intercam account in December of 2019 Intercam didn't require that I be a resident (I didn't have my residency visa then). Most banks do require the residence visa but that's more of a bank rule than a law, at least it was then and as far as I know nothing has changed. That said Intercam was the only bank I could find that would open an account for me without a residency visa, they even used an account statement from my bank back north for my proof of address, so a residency visa is not 100% universally required but almost. Like I said Intercam is an expat focused bank and they do everything they can to make it easy for expats to put money in. In any case my signature all kind of cascaded from my passport (yes, they asked that I match my signature to the one in my passport). When I signed my residency visa they also told me to make the signature as close as I could to the one in my passport and so on. In general most places ask to see my passport for official ID though I suppose my residency visa would work too. In the last year my RFC number is often asked for as well.
Surprised they didn’t require your RFC.
That's an insane reason to deny bank account. I looked up the requirements right after the video for Mexican citizens and I only have to show my INE, which I have. Thank god since my signatures across my ID's look similar, but are not exactly perfect. This is good info that I have never heard anyone else mention. Hope you're able to have this issue resolved soon.
Yes, us too! I hope you never have this problem as well 😬
We just purchased a second home in the Ajijic area. We have two bank accounts there, one with Intercam and one with Actinver. I just checked my passport and residency card signatures and they are not exactly the same but pretty close. The only issue I have run into is at intercam I have signed without using my middle name when getting money out and that is not allowed. The signature has to match what is on the residency card, middle name and all. Both my husband and I are on both of our accounts but on each one, one of us is the primary and allowed to have the app. Both of us cannot have the app at either bank. Definitely different than in the US.
I just found your channel today. Morelia looks beautiful and I have heard the stores there are much better, Home Depot, nice grocery stores, etc. We did not even look any place else only the Lake Chapala area due to the high expat population. It looks like you all have really found a gem in Morelia. Thanks for your great content!
That’s awesome! Ajijic we think is a great place to invest. Morelia is definitely more affordable than Ajijic (generally speaking of course because there are always exceptions) Congrats on your second home! 🎉🏠We have never used Intercam bank. Thanks for leaving your experience with the channel 😀 And welcome to the channel! 🎈🎈
I’ve heard of this many times😮
I have heard that ALL signatures must match! Hope you can get it straightened out when you renew your temp residency.
Thank you Cindy K! 😀😄
Sorry about your experience. When I got my residency I brought my immigration attorney with me.
That's a fantastic idea! Worst part was that they were fantastic with us... Other than the signature 😭😭😭😭
@@chasingtheAmericanDream Good info. Great video. My immigration attorney reminds me every time I sign something. Great info again. Love your videos. Thanks
hey how you doing sorry to hear that you know what i recommend to go to another branch man
Hey thanks so much for the kind words! We are definitely thinking about it.
Same thing everywhere. Each bank has its own stupid rules... Much worse in Canada!
Well I think your friend exaggerated it’s spooky she works at a notary . Yes the signature you choose for your official documents ( we invent a signature it’s not just the name as you’re used to ) is forever BUT signatures deform over the years , my signature is the same but looking my military service card when I was 18 is totally different . You chose a bad bank in my opinion , Spanish bankers are usurers, I used to have an account and once I forgot to pay a monthly fee from a credit card and they took the entire total from my bank account not just the fee. A cheque account can be shared and the cheque you decide if it’s one signature or the other , if the cheques need both to be cashed. Credit cards you can ask for additional card for your wife yes but the card of your savings account is one unless it’s business account and you can go to the atm with your 4 digit secret code or pay without signing if the commerce has this option . You can open another savings account with only few bucks and you can transfer from the big savings one at least that’s possible for Mexicans , something like 100 pesos is needed depending on the bank . Or even with Apple Pay with your cellphone. Most Cards nowadays especially BBVA emit cards without name or numbers nor the security code . All information you keep it in the app . One bank Inrecommend cos they have excellent service via the app even for contacting an agent easily not bots , is Banorte which is a solid one , even when your card has expired you go to a 7eleven buy a card and you update it with the app . It’s secure but I must say I never use my savings account card at atm or
Commerce , and even create a bar code to get money from atms without introducing the card or digiting the secret 4 digits , and the bar code is valid 24 hrs only , I have paid sending the code to x person so they can take money from atms. Also you can generate virtual credit cards which generates a brand new 3 digit verification codes every time you pay with it so it’s very secure . Resuming , the signature has to be the same in official ID documents and cards. The official documents are residency cards for you ( INE for Mexicans ) or passports . And the address documents accepted are only Telmex or CFE with no more than 3 months of issue , if you rent you can show the owners address docs but they would ask for a contract of rent to show you do live there along with a copy of the INE of the person renting
Wow! Thank you so much for that great information and sharing your personal experience! We went to the BBVA because it is the largest branch and on a TH-cam video the guy showed how it was number 1 on the list of best banks. 🤷🏻♀️
@@chasingtheAmericanDream the biggest bank was Citibanamex which owned Citibank after buying Banamex but worldwide they’re selling the normal people”accounts just kept big business that’s why they lost ranking . BBV bought Bancomer also a Mexican bank which owned a group Accival that’s why they are BBVA although they are trying to get rid of they A but they’re afraid of losing Mexican customers . BBVA has been fined by Mexican government regulators for errors and continuous system falls thus you cannot pay on time or use their apps. They have many ATM’s yes but their fees for using them is one of the highest if not the highest , they’re strong cos they were the bank for pensions from the government or burocrats, but AMLO formed a Bank which already has the bigger number of ATMs countrywide, even in remote Indian communities, their fees are the lowest and now scholarships or universal pensions for 65+ and other welfare programs are being handled there and BBVA recently lost all that universe . They Banco del Bienestar ( Welfare Bank ) is giving credit cards to the Mexican expats in the US , they receive their salary in US dollars and can send money to their families down here with the lowest exchange rate and commissions of the market cos Western Union or Moneygram are way too expensive for our emigrants and this way they can transfer in less than 30 secs and don’t have to beg for a credit card in the US and they can use it cos it’s valid worldwide . Don’t know if they could offer bank accounts to permanent / temporary residents like your case , but if they do , it would be cheaper , although right now president AMLO said they won’t be offering all banking services but the basic ones line paying electricity gas telephone and transfers via Codi ( QR codes for little commerce or tianguis ) , money and bank transfers .
This is the best explanation I have heard "we invent a signature" - because yes, family in Mexico, you cannot "read" their name within their signature. Signatures seem to be a design.
I always go to Morelia all the time and that how it is man? I'm LA but my family lived there in morelia
I'm surprised myself man, usually Morelia is pretty chill about things lol
Signatures must match is standard practice in México. Sorry you missed the memo!! 📝
this is crazy. My signature is different after having surgery on my arm. My hand doesn't work the way it did before. No way I can sign my name the same. I guess the only solution is to get a new passport in person.
Wow, I'm so sorry to hear this. I would honestly recommend to do that. If you don't you're taking a chance on whether or not they will accept your signature and I honestly don't think they will.
You have one more option that I want to tell you about! You can go ahead and get an INE number. If you get one of these numbers on an identification card you can simply use that card as your formal identification when opening a bank (and possibly other things). You would get this card like going to an INE office which you would have to Google depending on the place you are in Mexico.
A very friendly suggestion, if you allow me, get a better microphone, as it is hard to understand what she says. You must get used to all the differences between both countries, because our circumstances are very different. Most of those requirements are due to history of security issues.
Hello, thank you for the suggestion! As we mentioned in the video, I forgot to turn the microphone on. We actually have very expensive microphones that we use on almost every single other video. Thanks for the suggestion! We have been living in Mexico for a while and are pretty used to the bureaucracy. This video was to inform others so that they don't make the same mistakes. Have a great day!
@@chasingtheAmericanDream ❤
I’m a permanent resident, BBVA does not allow expats where I live, and has lots of problems, so I got an account at Santander, I live in Michoacán, so yea I had an issue. FYI, I got my resident card in Morelia, switching from temporary to permanent, and unfortunately you have to sign the same exact way on your expiring card. The way I had to change my signature was ordering a new passport. I had the same issue with my signatures
Wow! So sorry to hear that! Do you like Santander?
@@chasingtheAmericanDream never had an issue with them. I never carry my PR card, bc I’m afraid to lose it, so I can access my account with the bank with my Michoacán drivers license. Never had a problem with them helping me
@@nobodycaresaboutyourfeelings Thank you for sharing! What is your PR card?
@@chasingtheAmericanDream permanent Resident Card, been living in the Same place for 5 years now, and the only time I take it out of my safe is when I fly to the US. Bc I’ve heard it a pain to get another one
Just to let you know. One time i lost my INE, which is our main ID. It was imposible to get money from my bank account, untill i got my new one.
That’s horrible! Are you a resident or Mexican citizen?
When you talk about signature are you talking about usa id or everything in mexico you talking about
Your signature is going to have to match your passport signature and continue to match that same signature throughout all the paperwork that you sign in Mexico.
Welcome to México jajajaja it happen to me , it will be ok it a normal Procedure the bad thing of bancomer is that they take money from your account without your Concent... so i will not recomend bancomer i have banco azteca great i could llave money there and it will not be taken so Know that
Wow! Good to know! Thanks for sharing your experience with us!
@@chasingtheAmericanDream yes dont open a account in bacomer they will steal your money 20 peso then 50 tiene 100 like that cant leave money on the account
Mexico is too bureaucratic and is not worth the money
You’re in Mexico, so abide by their rules. Mexican immigrants in the USA have to abide by U.S. rules and regulations. Don’t try to change Mexico into the U.S
No one's trying to change anything. As mentioned in the video, I think it's impressive to have such high security standards. I'd love to know where in this video you had any inkling of us saying that we want to change the rules and regulations.