ALL MEXICAN BANKS - WARNING TO THE FOREIGN COMMUNITY

[meroberts]

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Here is an important message. It happened to me...

I bank with Santander, Bancomer, and BanBaj?o, with whom I have checking, savings, and credit card account. A US customer asked me to pay for the cost of the visas for workers I sent to the US.

Even though I had an excellent working relationship with them, and trusted them, they ended not paying me $62,000 USD after requesting a bridge-loan from Santander to assist my client.

They were forced to file for Bankruptcy and I got listed on their list of debtors. Needless to say, I received nothing of my money but still owed Santander. I contacted the bank, explained the situation and they agreed to wait three months.

A week ago, my pension check was deposited in the checking account. When I went online to pay my rents, food, and other bills, I had a balance of $0.00 pesos in ALL accounts. Mind you, I was ONLY behind two payments with Santander.

Due to an "administrative glitch", (or so they say), they bulletined me with the National Credit Bureau, and a domino effect was created to cause me personally, the ultimate crisis in my life.

Not only did they empty my accounts, and froze them ALL, but so did all the other banks to whom I owed nothing behind. I had small balances on my visa and MasterCard but they CAN and did pay themselves at will. So, if they have any doubts that a client might not pay, they can take any money you may have in your checking and savings accounts with our permission since we sign a contract (that nobody reads) that stipulates that fact.

I am sharing my experience with you guys because many of us were forced to open Mexican Bank accounts to have our pension checks deposited in them by the US Embassy in D.F. If this is your situation, do change your deposits to a US bank account. Should you ever have any problems or delays making a payment to any Mexican Bank, count on your money disappearing three days after you are late, regardless of what the bank employees may tell you.

All the banks communicate with one another, so they take immediate action before they give you access to your accounts, and freeze them.

One more reason to leave... I am paralyzed at this point. I hope none of you ever have to suffer this drastic and embarrassing experience.

Martha

[Jzmackenzie]

Martha,

You have always been a guardian angel for all of us, especially in legal matters written in Spanish. I shutter to think what will happen to those left behind.

May all of your good will pave a pathway of good fortune for you as you return to your adopted country.

Blessings,

Jacquie, Don, & Jolene