A growing number of expatriate residents are mystified and miffed at being subjected to a sudden shift in the way they were accustomed to doing banking business here. Many are feeling hassled because certain south-of-the-border financial establishments that are now refusing to handle U.S. dollar checks.
In a door-to-door survey of 10 lakeside banks and financial institutions – aimed at sorting out some of the confusion – the Reporter learned that most still seem to follow expat-friendly procedures.
Management at Banamex, BBVA Bancomer, CIBanco, O’Rourke Investment Funds (O&A) and Multiva all report that they are currently receiving U.S. dollar checks for deposit in the accounts of their clients and have not been advised of any imminent policy changes.
The amount of time it takes for checks to clear and be credited to an account range from one to three weeks, depending upon individual company practices and some special criteria for preferred customers.
Banamex manager Edgar Barrón said he may authorize immediate credit for check deposits going into accounts that have at least a one-year history and a sufficient balance.
Lilia Gonzalez at BBVA Bancomer’s Chapala branch said there are no signs that the bank anticipates changing the way it deals with checks in foreign currencies. In addition, she noted that branches in Chapala and Ajijic have been have been allowed to slightly bend some standing company rules to facilitate business for lakeside’s large expat population.