A Banker’s Half Dozen

The Playa Times Riviera Maya's English Newspaper - - Enterprise Focus - BY CATHER­INE PAWELEK

With so many choices, how do you de­ter­mine which bank fits your re­quire­ments best? First, an­a­lyze what you need from your bank. Do you ex­pect one-on-one bank­ing with an ex­ec­u­tive? Or are you con­tent stand­ing in line for, what of­ten seems like, an eter­nity for the only teller work­ing? Does most of your busi­ness en­tail ex­chang­ing dol­lars to pe­sos? Do you han­dle most of your trans­ac­tions via the in­ter­net or need flex­i­bil­ity? Does your re­la­tion­ship with a bank not ex­tend fur­ther than their ATMs?

Con­sider whether you need a busi­ness or per­sonal ac­count and what does one bank of­fer that the other doesn’t. Make a list, check it twice and com­pare of­fer­ings.

ATM ma­chines are ev­ery­where, as are ATM crooks, just like back home, so don’t throw cau­tion to the wind. A pop­u­lar scam is for some­one to of­fer to “help” you and then help him­self to your pin and card info through a scan­ner. Be mind­ful of fake ATMs. It is gen­er­ally rec­om­mended to use a bank ATM, prefer­ably phys­i­cally at­tached to a branch.

The best way to make sure that your cho­sen bank meets all your needs is to check out each bank at var­i­ous times of the day, talk to a bank ex­ec­u­tive, ask all the right ques­tions be­fore you hand over your money.

is part of Amer­ica’s bank or­ga­ni­za­tion Cit­i­Group (Citibank). Branches in Playa del Car­men, Can­cun, Isla Mu­jeres and Cozumel.

a Mex­i­can fi­nan­cial in­sti­tu­tion, founded in 1932 is the largest in the coun­try. Since 2000 its main stock­holder is Span­ish bank BBVA. Lo­ca­tions in Playa and Can­cun.

is a Bri­tish multi­na­tional bank lo­cated in over 55 coun­tries with branches in Tu­lum, Playa del Car­men and Can­cun.

BANAMEX

BANCOMER

HSBC

founded in 1992 is a younger player in the fi­nan­cial mar­ket. There is one in Playa and one in Can­cun. To help its ex­pan­sion the bank has started open­ing branches in San­born stores.

INBURSA

is an in­ter­na­tional part­ner of Bank of Amer­ica and has branches in Playa and Can­cun.

par­ent com­pany was founded in 1832 and is head­quar­tered in Toronto Canada with of­fices in Playa and Can­cun.

SAN­TANDER

SCO­TIA­BANK’s

Photo: Agency

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