Monday, November 4, 2013

Am I The Only One Who Assumed "International Bank of Commerce" Meant Branches On Both Sides of the Border?


My checks read "INTERNATIONAL BANK OF COMMERCE."  That is how I've always referred to the bank where my monthly deposits go and withdrawals are made.  In my naivete', perhaps aided by the subliminal message sent by the banks logo which includes the outline of both the United States AND Mexico, I visualized branches on both sides of the border.  "How nice to travel to Mexico and access your money at one of several IBC branches in the country," I reasoned to myself.  

But, of course, more recent online websites for IBC do not even use the name "International Bank of Commerce," but instead, "International Bancshares Corporation."  Notice how a carefully worded IBC statement describes the "international" nature of IBC to include not branches in Mexico, but simply "customers" from Mexico and a "strong reputation with businesses and prominent citizens of Mexico:"

"For generations, IBC’s banking customers from Mexico have relied on our strength and security to protect and grow their assets. Our strong reputation with businesses and prominent citizens of Mexico gives us the relationships and depth of experience to ensure that the interests of our international customers are fully protected. To assist you in conducting international transactions efficiently and effectively, IBC’s expert, bilingual, multicultural staff provides International Trade Counseling that assures your complete understanding of all transactions."

Another IBC website, while not listing actual branches in Mexico, hints at "relationship with banks in Mexico:"

"IBC customers benefit from fast, efficient wire transfers, thanks to IBC’s strategic locations throughout Texas and Oklahoma. We have over a quarter century of building strong relationships with prominent correspondent banks in Mexico."

A complaint on a website called "RIPOFF REPORT" goes further:

"One tactic IBC will use is to tell you they are local. This could not be further from the truth! Most of the share holders are Mexican citizens! However IBC will tell Mexicans they have banks in Mexico, but they do not! I have personally seen Sales Associates point to the picture of Mexico and say they have banks in Mexico. International only lends to the comedy of this company-International Bank of Commerce Bank?? As a matter of fact IBC does not even have any international partners! Unlike real international banks who partner with foreign ATM's to save you charges IBC will leave you stuck with the fee and the conversion! Worse yet IBC will probably shut off your debit card at your first foreign point of sale and still charge you $5 for the replacement that comes in two weeks! Sorry once a debit card is cancelled that's it, you have to get a new one in the mail, at least with IBC."

4 comments:

  1. Their description should just say, #1 at laundering Mexican cartel money. IBC - International Cartel Bank

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  2. Move your account to Compass Bank, a real international bank with a sister bank in Mexico, Bancomer, as well as banks all over the world, see BBVA, Posee mΓ‘s de 110.000 empleados, 7.958 oficinas, 35 millones de clientes repartidos en todo el mundo y mΓ‘s de 1 millΓ³n de accionistas. A little more impressive than IBC....

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  3. Compass Bank BADDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD!

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  4. Frankly, to me, the word "International" doesn't mean Mexico ........... it means "other countries", especially in the banking world. When I moved to Brownsville I opened an account with IBC for the express reason that I travel to Europe quite often, and thought they could help facilitate my travels. HAH!! What a joke! I soon closed that account, since dealing with the inept personnel was more trouble than it was worth!

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