{"id":3716,"date":"2011-07-04T22:35:28","date_gmt":"2011-07-05T04:35:28","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=3716"},"modified":"2017-08-30T11:18:01","modified_gmt":"2017-08-30T16:18:01","slug":"your-mexico-retirement-and-banking-making-wire-transfers","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2011\/07\/your-mexico-retirement-and-banking-making-wire-transfers\/","title":{"rendered":"Your Mexico Retirement and Banking; Making Wire Transfers"},"content":{"rendered":"

When planning your Mexico retirement<\/a>, it’s important to have a clear plan of how to access your funds while in Mexico.\u00c2\u00a0 While at the beginning you will probably do best to rely on credit cards and debit withdrawals, at some point you will want to open a Mexican bank account, leaving the possibility of direct wire transfers to that account.<\/p>\n

\"\"Transfer companies such as Western Union allow funds to be sent without an account, but it is generally better to open an account in Mexico for direct international bank transfers.\u00c2\u00a0 To open an account, you will first need your Expatriate Visa (FM2 or FM3); your Mexico real estate<\/a> agent can refer you to a lawyer to help with this process.<\/p>\n

In most large expat communities, you will have access to a variety of modern international banks.\u00c2\u00a0 For example, if you choose a Puerto Vallarta retirement<\/a>, not only will have access to a variety banks, some of which are affiliated with U.S. or Canadian banks, but you may be able to choose between several branches of the same bank.<\/p>\n

\n

Free Download Kit: Save Money Living in Mexico<\/span><\/h2>\n
\n

Save Money in Mexico<\/p>\n

Tips and Tricks on how to save money living in Mexico<\/p>\n

\"\"<\/a><\/div>\n<\/div>\n

Once you’ve opened your bank account in Mexico, making wire transfers is a fairly straight forward and secure process.<\/p>\n

Information Needed<\/strong><\/p>\n

To start, you will need information from your bank in Mexico, including:<\/p>\n

\u00c3\u00b1 a SWIFT number which identifies your bank on an international level (SWIFT stands for “Society for Worldwide Interbank Financial Telecommunication”.)<\/p>\n

\u00c3\u00b1 your account number<\/p>\n

Of course, you will always want to double check that these numbers are correct, perhaps even with a bank officer for the first time.<\/p>\n

With this information, and your complete name as it appears in your bank account information (be sure that this is correct when you open your account!) you, or someone managing your accounts from the U.S., can make a wire transfer to your Mexican bank account from the U.S.<\/p>\n

Cost<\/strong><\/p>\n

The cost is usually between $25 – $35 USD, depending on the bank and the amount.\u00c2\u00a0 There is usually a maximum for each wire transfer, and it’s best to wire larger amounts to avoid repeating fees.\u00c2\u00a0 Wire transfers using SWIFT numbers are generally considered the most secure way of making large transfers.<\/p>\n

Online transfers<\/strong><\/p>\n

If you use online banking from your home account, some banks allow you to make wire transfers online.\u00c2\u00a0 Generally, you need the same information, and the fees are similar.\u00c2\u00a0 The advantage is that you can do this from an internet connection in Mexico.\u00c2\u00a0 In this case, you will want to ensure the numbers are correct, and use regular online banking safety precautions (i.e. use only your own computer from a secure internet connection with anti-virus.)<\/p>\n

Thomas Lloyd <\/strong>graduated from Purdue University Krannert School of Management with a degree in Management\/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree <\/strong>and Mexico Professional Real Estate License<\/strong> S.E.P. #5978657. He is the current president of TOPmexicorealestate, you can contact him at <\/em>(512) 879-6546<\/span><\/strong> <\/span>
\n<\/strong>
\n“Mexico\u00e2\u20ac\u2122s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely<\/strong><\/span><\/span><\/span><\/span><\/em><\/span><\/span><\/span><\/span><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

When planning your Mexico retirement, it’s important to have a clear plan of how to access your funds while in Mexico.\u00c2\u00a0 While at the beginning you will probably do best to rely on credit cards and debit withdrawals, at some point you will want to open a Mexican bank account, leaving the possibility of direct […]<\/p>\n","protected":false},"author":2,"featured_media":13887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[742,282,4,21,1730],"tags":[750],"class_list":{"0":"post-3716","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bb-kits","8":"category-mexico-banks","9":"category-mexico-retirement","10":"category-mexico-retirement-communities","11":"category-real-estate","12":"tag-mexico-properties-for-sale","13":"entry"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/3716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=3716"}],"version-history":[{"count":4,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/3716\/revisions"}],"predecessor-version":[{"id":14936,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/3716\/revisions\/14936"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media\/13887"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=3716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=3716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=3716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}