Rosa Leos from Tijuana, Emilio Alcázar from Oaxaca and José Zúñiga from Puebla are three immigrants of Mexican origin who have already obtained a card as users of the Migrant Banking Program “Open your account without import where you are ”, which the government of President Andrés Manuel López Obrador has launched.
Leos, Alcázar and Zúñiga received their debit cards this Friday from the hands of the Consul General of Mexico in Los Angeles, Marcela Celorio and the director of the Institute of Mexicans Abroad (IME), Luis Gutiérrez Reyes.
“What we are doing is bank remittances … We are seeking to give this possibility that our migrants they can open a bank account in Mexico for savings, retirement funds, pensions, gather resources to carry out business, acquire products and merchandise to import them, acquire a home or buy land, ”said Gutiérrez Reyes.
Since February, the Mexican Ministry of Finance launched the plan to “bank” Mexican migrants in the United States and their families, with the aim of reducing costs and times for dollar transactions in cash and improve the exchange rate by sending remittances.
With Migrant Banking, the Mexican government also seeks to promote and encourage the opening of savings accounts, through of its consular network of Mexico in the United States and Canada, through the Financial Advisory Windows.
The window at the diplomatic headquarters of Los Angeles will begin next Monday 14 of June. In the United States, Mexico has a network of 50 consulates.
“Processing my card was very fast,” said Rebeca Leos, an administrative assistant who emigrated to the United States 25 years. “It took me a couple of days to sign the contract.”
The woman reported that, in two remittances to her brothers who live in Tijuana, they charged her with $ 7. for each transaction, and that you could save $ 16. 00 of what some private money transfer companies charged. “$ 16 are a few pesos more for my family, ”he said.
In March, Mexicans residing in the United States sent a historical monthly record of money to their country: 4, 151 million dollars, according to figures released by the Bank of Mexico.
In 2020, remittances totaled 40, 351 million dollars, an increase of 11. 4% vs 2019, and during the first quarter of 2021, added 10,623 millions of dollars , an increase of 13% compared to the same period of the previous year.
No monopolies
With the Migrant Banking Program, the g The Mexican government does not intend to compete with the private remittance companies, which for many years have monopolized the market; Nor does the AMLO government claim to be the only protagonist that controls the handling of foreign exchange.
“No, not at all; The idea of banking the remittance implies that it is through any bank in Mexico and that Banco Bienestar sets the example that we are promoting [al reducir el costo de los envíos] so that everyone can do it and accept the consular registration or the Mexican passport to open accounts ” , said the director of the INE, to Real America News.
Currently, Mexican financial institutions only accept a voter’s credential as an official identification method.
Retirement savings
Emilio Alcázar, a Oaxacan from 60 years, who received his bank card, told Real America News that he had decided to process the bank card because he wants to raise money for when he decides to return to his land.
“I think they were already taking time with this program,” said the Mexican migrant who works as a bartender. “The government did not monitor remittances and I think that was a loss of foreign exchange for the country and what they have done seems perfect to me.”
For his part, José Zúñiga, stated that every month he sends him at least $ 100 to his niece Antonia Vaquero, who lives in Puebla.
“I already have my card, now we have to see the costs [de enviar dinero] ; If it suits me, I will save it and if not, then I will cancel it ”, he commented.
According to the director of the IME, the savings program has been promoted in Orlando, Florida ; Dallas and Houston, in Texas, and soon it will do so in San Diego, California and Chicago, Illinois.
He said that the success or failure of the program will depend “on the actions we take really benefit people; By order of President AMLO, any action that involves strategy and resources must reach the people. ”
How to open an account?
- Bank cards are endorsed by Banco del Bienestar, a Development Banking institution that is part of the Banking System Mexican and Federal Public Administration, coordinated through the Development Banking Unit of the Ministry of Finance and Public Credit (SHCP).
- Enter www.bancodelbienestar.com.mx
- Put an email and personal information.
- Send an official identification image (it can be a passport or consular registration ).
- Then you will receive confirmation and details of the account opening by email.
- You can request the card at the nearest Mexican consulate.
For more information, call 1 (213) 351 – 6819.