La Message Board Archives

new cash bank deposit changes

Posted by david clarke on April 12, 2010, 2:40 pm


For those of you who have not visited the banks lately, I found out today that it is no longer possible to deposit cash, other than pesos, in your account. That`s right, non-peso cash is no longer king.

I talked with the bank manager and he said he was attending a meeting next week to confirm also that the banks will no longer take travelers checks, even if you have an account with them.

Also, if you do have pesos you can only deposit approximately 16,000 pesos per month without paying a 3% federal tax for any amount over that limit.

Sounds like the exchange shops will be doing a brisk business for the balance of the tourist season and into the foreseeable future.

You can still establish an account at INTERCAM and write a personal check and they will transfer the money to your account here within 2 hours for around 100 pesos.

This process also allows you to deposit more than the 16,000 pesos limit without paying the 3% federal tax for any amount over the limit.

Good Luck!


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