Recently I was in my local BANK OF AMERICA and they had a sign that you can send money to Mexico for free, Wow that is nice, but guess what you can NOT send it within the U.S. for free, sounds a little wrong to me, what do you think?
2006-09-30 20:21:11 · 9 answers · asked by whattheheck 4 in Politics & Government ➔ Law & Ethics
sounds prejudiced to me, Me thinks me go to Local B of A and ask why? Me incite a riot b-cuz of it?? maybe maybe not, and I am half Mexican, So do i get it for free in the U.S. also??? Hmmm perplexed
2006-09-30 20:30:14 · answer #1 · answered by back2skewl 5 · 1⤊ 0⤋
Just guessing but money sent from bank to bank domestically involves more than one clearing house, while money moved from country to county involves only one clearing house, your own. Less paperwork. Plus the Banks in Mexico are charging a high fee to process the transaction, so if the U.S. banks don't drop their fee the customer is likely to just close out their account and wire the money Western Union. Wiring money is a big competition with this type of transaction.
2006-10-01 03:39:35 · answer #2 · answered by LORD Z 7 · 0⤊ 0⤋
i really could go on about Bank of America, but let's suffice it to say that U.S. banks are probably the worstly prejudiced in the world...and about sending money to Mexico for free...it's because it is going there. Unites States bank owners don't get paid for that and since sending money within the U.S. does guess what???
We get to line their pockets in the process. Isn't that nice? LOL
2006-10-01 03:31:11 · answer #3 · answered by aldamixxmasta 3 · 0⤊ 0⤋
When someone says "free" I never believe it. The cost usually is taken up somewhere else, something else you're paying for, some other fee pays for the cost of the free. Maybe they are using a system that comes from a Mexican bank and that Mexican bank (government) pays for that cost. Or maybe now you can send to everywhere for free (and they're just not saying that). Who knows...why not ask the Bank of America for clarification.
2006-10-01 04:25:17 · answer #4 · answered by sophieb 7 · 0⤊ 0⤋
I really don't know about that one. My local BA says that there is supposed to be no soliciting but that would not stop an employee from selling you a service, would it? It is probably to stave off problems with illegals who think they may have a right to send cash home free of charge.
2006-10-01 03:26:18 · answer #5 · answered by waytooeasy67 3 · 0⤊ 0⤋
Walmart is similar; cheaper to send to Mexico than elsewhere in the US.
Reason? Subsidy perhaps? Back-loading of fees? Good data for use in their forex trading operations...
2006-10-01 03:26:03 · answer #6 · answered by Anonymous · 0⤊ 0⤋
You are dealing with the wrong one baby...let me tell you they are a bunch of gangsters and the sooner you leave banks alone the sooner you will be aiming towards financial freedom.
2006-10-01 03:30:42 · answer #7 · answered by aminuts 4 · 0⤊ 0⤋
Think about it!! we live in a country with a population of over 300,000,000! and what comes in and out of mexico is only a fraction of 70 mil.. its only business...
2006-10-01 03:28:58 · answer #8 · answered by Anonymous · 0⤊ 0⤋
they do things what's beneficial to them.
2006-10-02 06:13:23 · answer #9 · answered by Anonymous · 0⤊ 0⤋