Financial infrastructure

The Baja California financial system is composed by commercial banking with full diversity of services; bank of development that finances all the productive activities in accordance with the national and regional vocations; funds that grants resources for specific economic areas, plus a wide diversity of institutions approved by the Mexican Laws.  

All finance institutions have offices through the State with national and international covering, allowing users international trade with any country in the world. The financial system belongs to the private sector, with the exemption of five banks of development with the majority of public investment devoted to the main areas of Mexico’s Economic Development.

The Mexican Financial System is willing to receive foreign investment, that’s why many important firms already operated in the country as: Bilbao Vizcaya and Santander from Spain; Scotiabank from Canada; Chase Manhattan Bank, Citibank, Bank of America and J.P. Morgan from USA; The Tokyo Bank and Fuji from Japan; among others. 

The interest rates are established by the market regulations and not by the government.

Commercial Banking

In Baja California there are 9 commercial banks operating in 251 offices. The city of Tijuana ranked number sixth of the whole country due the volume of deposits. The prestigious Mexican Banking is known in the world for its security and dependability, it’s the only country where the banks are protected by the government, in case bankruptcy.

Banking

Baja California’s evolution over the past several decades in to  a world-class international business and manufacturing center has facilitated the availability of financial services from worldwide and Mexican financial institutions.

Banks offer a variety of accounts in pesos and dollars, for you company as well as, your employees and their dependents.

Other services include:

• Wire Transfers
• Foreign exchange
• Investments in dollars and pesos
• Leasing
• Short and long term loans
• Credit Cards
• Trust Services
• Retirement fund management

Electronic transfer of funds

• Is convenient way to transfer funds from the Headquarters bank in a foreign country to the subsidiary’s Bank in Mexico
• Electronic Transfer of funds provides fast and secure transactions
• Electronic transfer can be paid in foreign currency or pesos, depending on the costumer’s instructions
• When you use electronic transfer of funds, banks can offer you preferential foreign exchange rates.
• A Transfer receipt issued for the customer’s records

Electronic payroll payment

Electronic Payroll payment is a service that Banks offer to facilitate the payroll payments to executives and employees, through electronic system that debits your company’s account for the amount of the payment and credits established for the workers.
 
Benefits for your business:

• Greater security due to the reduce circulation of large amounts of cash within the company.
• Reduction for administrative costs in the traditional payroll process, such as: printing and issuing of checks, placing them in envelopes, distributing the wages and other office supplies.

Benefits for your employees:

• Greater security since the risk of loss or theft of the money paid is significantly reduced.
• Money is easily accessed nationwide through ATMs, branches & business affiliates.

Credit Lines

Banks offer a great variety of credit lines to satisfy customer needs.

• Most population Corporate Types of credit:
• Checking account credit lines (in USD or Mexican Pesos)
• Credit line for industrial plant equipment  (in USD or Mexican Pesos)
• Construction loans for industrial facilities (in USD or Mexican Pesos)

ATM’s & SEC’s

• Some Banks offer for you company or industrial park, two self-service devices installed within the premises: The ATM machine and the Corporate Branch (SEC).
• Among the services that the ATM’s offer is: cash withdrawal, balance inquiry. Inquiry and printouts of transactions. Account statements, changing of PIN members. Transfers of funds between personal accounts payments and deposits.
• The SEC’s cover all your banking needs; it is a bank within your company.

Financial Lease

• Banks offer through financial lease programs, the possibility to acquire essential productive goods for its economic activity such as equipment, machinery and/or production line set-up, all under the definitive import regime.
• Likewise, the lease in its Leaseback modality constitutes on option, that companies through the sale of their previously acquired assets recover liquidity by obtaining resources for working capital or other financial needs.