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Re: peso/dollar

Posted by D on October 10, 2008, 2:22 pm, in reply to "Re: peso/dollar"
Message modified by board administrator October 10, 2008, 3:30 pm

Hi Steve,

I just talked to Carlos Gorrocino Sanchez at Intercam in Manzanillo.

He can send you some documents so you can open an account. He is a great guy, calm, and speaks perfect English.

Then you simply move money from your bank to your Intercam account. Be sure to ask Carlos what rate the transfer will be made at on the day you move the money. While Intercam is a good organization it will behove you to "help" them give you the best rate. When I am doing large transfers I have a couple of exchanges whom I get rates from then go back and forth between them to put the squeeze on their profit margin and get the best exchange rate.

At that point you can leave the money transferred as USD (earning interest) and tell Carlos when you want to change it to pesos (takes about 18 hours to do the move) or have it moved from your bank directly to your Intercam peso account (earning 7-8% interest now) or your Mexican Bank account.

Then when you come to Mexico, you can go to Intercam and get a check, which you can cash at Bancomer or move the funds to your Mexico bank account if you have one.

For those doing Construction this may be a consideration as it can get around the limits your contractor has when getting cash from a machine.

Here is Carlos information

Asesor corporativo
Blvd MMH 874 L-1 Fracc Playa Azul
Manzanillo, Colima

phone - 52 314 333 6779

If you do this, please post and share your experience.

For those who have a Mexico Bank account already you can check online to see what rate they are offering, if it is better than Intercam then just transfer money directly to your bank account to take advantage of the current exchange rate. Be sure to check and see what International charges your US bank may have and double check the number of pesos you will end up with IN your Mexico account. This is where Intercam comes in handy as they have in Country (any country) banks which you move the money to avoiding your bank's International charges.

Another option may be for you to use my Intercam account. You move the money, I hold it as pesos in my account earning interest. When you come here I have Intercam make you a check which you cash. You then give me a bottle of Tequila (or 5, depending) for my trouble. I call it "Casa de Corralejo exchange".



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