Mexican Bank Certificate of Deposit Rates

February 5, 2013 8 Comments »
Mexican Bank Certificate of Deposit Rates

A couple of years ago there was a lot of interest, or at least intrigue, in a couple of suspicious, online, mexican-based banks offering deposit rates comfortably above the 10 percent mark.

We spotted a bank called Capital Bank of Mexico (archived deal shown below) offering 12-15% APY to American deposit consumers which right off the bat seemed like a scam. And although this institution ended up not being a trustworthy one, there were and still are outlets for investing safely in Mexican bank CD’s.

Today, however, the interest rate environment in North America and around the globe is far different, and by ‘far different’ I mean drastically lower. While practically all of these Mexican based online banks have dried up, you can still invest in Mexican bank deposits with yields significantly higher than those found here in the US.

mexican_cd_ratesAfter stopping by EverBank, the leading US-based bank in serving foreign bank deposits to US consumers, we found a couple respectable short term deposits using the Mexican Peso. As of February 2013, consumers can lock in either 3 month or 6 month CDs featuring APY’s of 2.0%.

Read through the risks associated with investing in foreign currency CDs and if you decide to use EverBank read their foreign currency deposits terms and conditions carefully.

[Go to EverBank's Foreign Currency Deposit Center]

While these accounts are FDIC insured against losses stemming from insolvency from the bank, they do not protect you against currency devaluation during the duration of your deposit. I know it’s weird to think of a bank CD being FDIC insured AND having the potential to lose your principal, but that is the general risk associated with any foreign currency CD.

Open a Foreign Bank Deposit (FDIC Insured)

Here is a snapshot of the last 4 years average exchange rates (Peso to dollar):


As you may or may not be able to tell from the graph above, the Mexican Peso has been relatively stable against the dollar over the last 12 months (ranging from 0.07 to 0.796 pesos to the dollar).

Mexican CD’s may be a good play currently since they feature a solid rate of 2 percent and have such short maturities (3 to 6 months). And it’s certainly a good thing in terms of mitigating risk anytime you can combine a stable currency with a short-term deposit.

Here’s some interesting data from the World Bank chronicling the history of Mexican deposit rates from the late 1970′s to 2010 (latest published data from the World Bank).


Additional Economic Statistics to Consider:


Capital Bank of Mexico CD Review from Archive:

[The following deal is no longer available.]

Investors Be Ware!

2009 – Capital Bank of Mexico offers potential American customers CD rates yielding an APY of anywhere from 12-19%. Even when compared to other foreign currency CD rates these are still suspiciously high.

The catch? Well, for starters Mexico doesn’t have any sort of FDIC equivalent to protect your investment against an economic/bank collapse. They do, however, state that throughout their 75 years of existence no American (or non-American) investor has EVER lost their principle and/or interest accrued.

Needless to say, their has been much interest surrounding these certificates of deposits and their accompanying rates, so if anyone has any experience with the bank, please share!

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  • farmerannie

    The article asks if I’d feel safe trading the security of federal insurance for more lucrative rates. Not long ago, federal insurance was a non-issue to most borrowers, because banking seemed more stable and trustworthy. FDIC insurance became a major factor when US banks began failing one after another due to too many unwise banking decisions and over-reliance on high(er) risk investment decisions that eventually undermined much of the integrity of the US banking industry. There were many more contributing causes, to be sure, but I can’t focus on them here. If a Mexican Bank can “bail out a deficient American Bank,” common sense implies one is doing something right while the other is doing something wrong. American banks aren’t offering high interest rates to investors, look at the latest rate tables and weep. My cold feet would come from being asked to commit up to twenty thousand for a CD with a foreign bank when all my domestic bank CDs are of much smaller denomination. Trust them? I might, but in much smaller increments. And, too, is there a currency exchange issue to monitor?

  • BloggingBanks


    This looks and smells like a scam to me. It would be a lot cheaper for them to get FDIC insurance and offer lo w rates.
    I honestly don’t know why you keep pushing this offer. There is no info on this bank anywhere, other than this website. Read this from their site:

    “Current assets (12/1/2008) exceed $55,000,000.00 (Fifty Five Million U.S. Dollars 00/100 US) which include: cash, mortgages, gold, diamonds, jewels, watches and automobiles.”

    That’s BS for the suckers, who would fall for this – oh the bank has some diamonds and gold, must be safe to put my money and get a double digit CD rate. I have watched American Greed on CNBC and can tell you that this Mexican Bank online scam sounds exactly like the other offshore bank scams, where your deposit is insured by IDIC not FDIC and people fall for it.

    Did you google for “Mexican Federal banking Commission”?

  • Rob of NYC

    Here is a link to Fatwallet – some did an investigation of cap Bank – Mex. Among other things, the bank was recruiting salespeople in San Diego and was offering 1-5% commissions. What kind of bank offers commissions on CD’s?

  • David Christian Newton

    For people who put themselves up as authoritative and well-informed, the last two posters exhibit the standard dull ignorance that baffles those of us in the underclass.

    I, for 40 years, and my family for 120 years, have been using Mexican banks for various purposes and functions without any negative results. BB’s statement about 55million (am.cur.) of current assets, or that there is no information about any of these banks “anywhere” bespeaks of a person who is either willfully ignorant or purposely “misleading” other folks.
    Why would anyone go so far out of his way to say things that are so incorrect and reflect so clearly a person’s ignorance and deep-seated hatred? It will never cease to amaze me.

  • Ken

    Looks like a scam. It appears there are at least 2 websites that push this. and point to the same site. is partially under construction. The High Yield domain site was only just registered in April 2009. The request info button results in an email from a software/website company from Carlsbad, CA. The CD calculator function appears to be a cut and paste bit of Excel programming with some noticeable defects. Minimum deposits are very high (starting at $5000 for a 90 day “CD” and going to 50,000 for other terms). has a review thread that seems to confirm that this is a scam

  • Ken

    As a follow up, Business News Americas ( ran a story in April that stated that the Mexican banking regulator CNBV does not recognize Captial Bank as a bank and that it is NOT authorized to receive deposits or pretend to be a savings and loan institution.

  • dave koogin

    i have had the pleasure of owning land in the mexican coast and constructing ahome there . this all done with money earned inthe good old u,s,a, all legal all taxes paid with monies electronically transferred from wells fargo to bancomer . never a hitch plus paid 17% on balance on deposit. almost paid for const, costs itself .tell me where this can be done in the upper 50 ?

  • J. Preston

    I also own land in Mexico. Cozumel, Mexico to be exact. I also bank with Bancomer and they are an excellent bank with much higher CD and Pagare(Promissory Note)rates than in the U.S. Also, HSBC is another large bank in Mexico and they have a very large, world-wide presence.