American retirees in Mexico say their life savings vanished from a Mexican bank

NBC News ^ | 09/28/19 | Lindsey Bomnin, Didi Martinez and Vicky Nguyen

[Oatka]

Only use the well-known banks, and keep your main bundle in a US or Canadian bank.

Indeed. Some years back, Mexico seized dollar holdings of depositors, converted them to pesos, devalued the peso at something like 4 to 1, then said theycould convert them back to dollars.

[Deplorable American1776]

A Mexican Banker? Isn’t that an oxymoron?

[Ex gun maker.]

Americans cannot “Own” property in Mexico.
They can only lease it, and hope to not get screwed.
The only exception are Irish Americans.
Not sure how one proves themselves to be sufficiently “Irish” to qualify for the exception.
The exception goes back the the Mex-American War, and disaffected Irish-American troops who switched sides.
Hmm, sometimes crime does pay.

[cherry]

the internet is inundated with these smug Mexico loving expats and why living in Mexico is so much better....

I guess not......

I think living in Mexico would be fun, but whenever you listen to these expats they have to diss our America, all the time...

[griffin]

Chose poorly.

[sheana]

Exactly. I just got back from Scotland and took some pounds with me but when I ran low I used my debit card everywhere. These people are/were idiots.

[csvset]

Mexican bandits? Be on the lookout.