Banamex USA

Banamex USA is the banking arm of Banco Nacional de Mexico (National Bank of Mexico) that gives customers access to both U.S. and Mexican financial markets. Citigroup bought Banamex in 2001 in what was the biggest Latin American acquisition by a U.S. company to date. Banamex offers products and services to both corporate and individual customers in multiple Latin America countries, Mexico, and the United States.

On its individual banking side, Banamex USA offers checking, savings, and Money Market accounts, as well as time deposit accounts that are also known as Certificates of Deposit. Time deposit accounts are available in term lengths from 30 days to 1 year. The bank also makes credit cards and foreign exchange (Peso-Dollar) available to its customers. Each of its deposit accounts is offered to businesses, as well, with varied terms and requirements. The FDIC insures all of Banamex USA’s deposits.

Banamex USA online banking offers an Internet platform for both individuals and businesses to manage their respective accounts. It offers various functions including Bill Pay, check imaging, and fund transfers.

Banamex USA is a United States’ subsidiary of Banamex Financial Group, headquartered in Century City, California, and owned by Citigroup. Banamex USA was originally established in 1963 as the Community Bank of San Jose before changing its name to the California Commerce Bank in 1980. Five years after being bought by Citigroup, in 2006, the bank changed its name again to Citibank (Banamex USA) before its final transition to Banamex USA in 2009.

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