Latest news with #CIBanco
Associated Press
12 hours ago
- Business
- Associated Press
MexEdge Offers Secure Payment Alternative as US Sanctions Block Intercam, CIBanco, and Vector
US sanctions block transfers to key Mexican banks, leaving buyers scrambling. MexEdge offers a secure alternative for Mexico real estate payments. 'We know how stressful it is to have your closing at risk. MexEdge is ready to provide a secure, compliant alternative so buyers can complete property purchases in Mexico with confidence.'— George Reavis, Founder of MexEdge PUERTO VALLARTA, JALISCO, MEXICO, June 30, 2025 / / -- The United States Treasury Department has imposed new sanctions that block American financial institutions from sending money to three major Mexican banks: Intercam, CIBanco, and Vector Casa de Bolsa. Accused of facilitating money laundering for drug cartels, these institutions are now effectively cut off from receiving funds via US banks, leaving many buyers in need of an alternative like MexEdge, which offers secure payment solutions for Mexican real estate transactions. For thousands of Americans and Canadians buying property in Mexico, this sudden action creates immediate uncertainty and risk. Many have relied on Intercam and CIBanco to handle cross-border payments for real estate closings. With these banks now blocked, buyers face the threat of delayed or canceled transactions, lost deposits, and urgent confusion about how to safely transfer large sums to Mexico. Beyond the immediate disruption, the sanctions highlight challenges that have always faced foreign buyers in Mexico. Concerns about how to move money securely, avoid delays, and reduce uncertainty have only grown with blocked banking channels. MexEdge was designed specifically to help buyers secure competitive exchange rates, avoid hidden fees, and manage currency volatility for real estate transactions in Mexico with confidence. MexEdge is bank-independent and fully compliant, providing a secure and reliable channel for cross-border payments even as US sanctions disrupt traditional banking options. MexEdge also enables buyers to lock in exchange rates and use forward contracts to hedge against losses from currency volatility, trade wars, and other economic uncertainties. This brings much-needed stability to property transactions in Mexico. 'We're already seeing a surge in inquiries from buyers whose payments were routed through CIBanco, Intercam, or Vector,' said George Reavis, Founder and CEO of MexEdge. 'We know how stressful it is to have your closing suddenly at risk. That's why MexEdge is ready to provide a secure, compliant alternative so buyers can complete their property purchases in Mexico with confidence and without delays.' FAQ: Alternatives for Buyers Affected by the Bank Sanctions Q: What is the best alternative to Intercam or CIBanco for sending money to Mexico? MexEdge serves as a trusted alternative to Intercam and CIBanco by offering a bank-independent service designed specifically for expats and foreign buyers needing to move funds from the US or Canada to Mexico securely. Q: How can I pay for property in Mexico from the US or Canada now that these banks are blocked? With Intercam and CIBanco blocked by sanctions, MexEdge offers a reliable cross-border solution for buyers paying for property, whether buying or building in Mexico. This service ensures secure, timely delivery of MXN funds for real estate closings while providing solutions to new US banking restrictions. Q: How can buyers get the best exchange rate and avoid losing money on currency conversion? MexEdge enables buyers to lock in competitive exchange rates in advance, protecting them from currency volatility, hidden bank fees, and surprise costs. This provides certainty and transparency for real estate purchases in Mexico. Q: Is MexEdge a secure and compliant way to send large real estate payments? Yes. MexEdge provides a transparent, reliable service for moving large real estate payments when buying or building in Mexico. MexEdge works with exclusive international banking partners to ensure secure and smooth transfers for its clients. About MexEdge MexEdge is dedicated to helping North Americans buy property in Mexico with complete financial confidence. By offering secure, compliant cross-border payments and the ability to lock in exchange rates, MexEdge ensures buyers can navigate currency volatility and banking disruptions with certainty and peace of mind. George Reavis MexEdge +1 843-345-0900 [email protected] Visit us on social media: LinkedIn Instagram Facebook YouTube TikTok X Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
3 days ago
- Business
- Yahoo
Mexican real estate trusts drop CIBanco as trustee after US sanctions
MEXICO CITY (Reuters) -Mexican real estate trusts Terrafina and Fibra Inn on Friday said they would remove lender CIBanco as their trustee, after U.S. sanctions over money laundering accusations caused Mexican authorities to step in to manage the bank earlier this week. The U.S. Treasury on Wednesday prohibited certain transactions with CIBanco, as well as bank Intercam and brokerage Vector Casa de Bolsa, under new fentanyl-related sanctions. All three firms deny the money laundering allegations. President Claudia Sheinbaum said on Thursday she had not received any evidence of money laundering from the U.S. Mexico's banking regulator will temporarily manage the three financial insitutions. Terrafina said in a filing that it was taking steps to address any potential risks posed by authorities' intervention of CIBanco, but that it did not expect to see a hit from the move. Fibra Inn, a hotel real estate trust, said CIBanco would serve as trustee until a new one was selected and appointed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Mexico's Terrafina to remove CIBanco as trustee after US sanctions
MEXICO CITY (Reuters) -Mexican real estate trust Terrafina said on Friday it planned to remove bank CIBanco as its trustee due to U.S. money laundering accusations, which resulted in Mexico's banking regulator stepping in to manage it. CIBanco has rejected the sanctions from the U.S. Treasury Department, which prohibit certain transactions with the firm. President Claudia Sheinbaum said on Thursday she had not received any evidence of money laundering from the U.S., which also sanctioned two other financial operators, Vector Casa de Bolsa and Intercam Banco. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
3 days ago
- Business
- Reuters
Mexico's Terrafina to remove CIBanco as trustee after US sanctions
MEXICO CITY, June 27 (Reuters) - Mexican real estate trust Terrafina said on Friday it planned to remove bank CIBanco as its trustee due to U.S. money laundering accusations, which resulted in Mexico's banking regulator stepping in to manage it. CIBanco has rejected the sanctions from the U.S. Treasury Department, which prohibit certain transactions with the firm. President Claudia Sheinbaum said on Thursday she had not received any evidence of money laundering from the U.S., which also sanctioned two other financial operators, Vector Casa de Bolsa and Intercam Banco.
Yahoo
3 days ago
- Business
- Yahoo
Mexico's Terrafina to remove CIBanco as trustee after US sanctions
MEXICO CITY (Reuters) -Mexican real estate trust Terrafina said on Friday it planned to remove bank CIBanco as its trustee due to U.S. money laundering accusations, which resulted in Mexico's banking regulator stepping in to manage it. CIBanco has rejected the sanctions from the U.S. Treasury Department, which prohibit certain transactions with the firm. President Claudia Sheinbaum said on Thursday she had not received any evidence of money laundering from the U.S., which also sanctioned two other financial operators, Vector Casa de Bolsa and Intercam Banco.
