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Zane --
I've heard a lot a variation. MY experience follows each one of your questions.
Q. WHAT IS THE REQUIRED INCOME FOR AN FM3 VISA AND HOW IS IT VERIFIED?
For two, it's in the neighborhood of $24K/yr. But that can vary, and it's
annualized from last three bank statements (probably need to have them
translated). Since it's 1/4 of 12, make sure you apply after three good (not
bad) months. Mine is mostly from investments; each month I ACHed $3K from my
broker into my bank (same date: damn, it looks consistent).
Q. SHOULD I START A BANK ACCOUNT IN MEXICO AND HAVE DIRECT DEPOSIT FOR A
PERIOD OF TIME BEFORE GOING?
That was my plan, too; but everyone down here said "no" -- still not sure why,
tho I haven't needed one. Almost every bill you will have to pay will be in
cash, so it's certainly not necessary from that standpoint. Also, ATMs are
everywhere (unlike just a few years ago), and they are quite reliable (when one
is out of cash, the next is not far away, even in the back country where I live)
-- so a local bank account is not necessary from that standpoint, either. The
best currency conversion rates I know are also at ATMs, so that more than
underwrites their 65-cent transaction fee, as long as you're making a
hundred-dollar-or-better withdrawal.
If you have a Stateside bank you're happy with, find someone whom you can
contact for an unforseen problem -- just be aware that their 1-800 number will
almost certainly not work in Mexico, so you'll have to use their pay line. An
exception is USAA bank. I have been with them 44 (no: 45) years now, and they
have saved my bacon twice down here (identity theft: orders of magnitude larger
outside your home country). They're used to overseas deployments of military,
and handle everything magnificently. Their 1-800 works, and every (EVERY) cust
service person I have talked to over decades is knowledgeable and conscientious.
If you can possibly qualify, get them, use them, keep them. If not, I'd choose
the bank with the best Web interface, particularly bill pay. If you have a good
stateside bank, you should do most of the heavy lifting from there. If you
decide to get a local bank, the decision can be made after some thought from
down here. (Almost certainly cannot be set up on an FM-T, but you are planning
on an FM-3.)
The biggest problem I have is someone in the US to monitor my mail and forward
things. Get the creditors to forward all bills to your bank AND TEST-RUN THE
PROCESS FOR A COUPLE MONTHS BEFORE DEPARTURE. Then, any mistakes your mail
forwarding service (whether familial or commercial) make will be less serious.
HTH. Sorry for the length.
bill |
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