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marcmc99 · May 11, 2006

LSUGradin99 said:

The international wire transfer company it deals with, Bancomer Transfer Services, is based in Houston.
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I've got a question, maybe you can help? Is Bancomer Transfer Services an actual American company, or is it actually a division of a foreigned owned bank? I found this article, thought you might have additional or more recent info (long, didn't read it all).

Orders issued under International Banking Act - Legal Developments - BBVA Bancomer S.A. receives okay to set up agency in Houston, TX
Federal Reserve Bulletin, March, 2003 by Jennifer J. Johson
BBVA Bancomer, S.A. Mexico City, Mexico

Order Approving Establishment of an Agency

BBVA Bancomer, S.A.("Bank"), Mexico City, Mexico, a foreign bank within the meaning of the International Banking Act ("IBA"), has applied under section 7(d) of the IBA (12 U.S.C. [section] 3105(d)) to establish an agency in Houston, Texas. The Foreign Bank Supervision Enhancement Act of 1991, which amended the IBA, provides that a foreign bank must obtain the approval of the Board to establish an agency in the United States.

Orders issued under International Banking Act - Legal Developments - BBVA Bancomer S.A. receives okay to set up agency in Houston, TX

Federal Reserve Bulletin, March, 2003 by Jennifer J. Johson

BBVA Bancomer, S.A. Mexico City, Mexico

Order Approving Establishment of an Agency

BBVA Bancomer, S.A.("Bank"), Mexico City, Mexico, a foreign bank within the meaning of the International Banking Act ("IBA"), has applied under section 7(d) of the IBA (12 U.S.C. [section] 3105(d)) to establish an agency in Houston, Texas. The Foreign Bank Supervision Enhancement Act of 1991, which amended the IBA, provides that a foreign bank must obtain the approval of the Board to establish an agency in the United States.

Bank, with total assets of approximately $41 billion, is the largest bank in Mexico. (1) Bank is a subsidiary of Grupo Financiero BBVA Bancomer, S.A. de C.V. ("Grupo"), also in Mexico City, a financial services holding company that owns 99.9 percent of Bank's shares. Grupo's ultimate parent is Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA"), Bilbao, Spain, which directly or indirectly owns approximately 55 percent and has voting control over an additional approximately 9 percent of the common shares of Grupo. No other shareholder controls more than 5 percent of the shares of Grupo. Bank and its subsidiaries represent more than 95 percent of Grupo's consolidated assets. BBVA, with assets of approximately $277 billion, is the second largest banking organization in Spain.
http://www.findarticles.com/p/articles/mi_m4126/is_3_89/ai_100609710
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LSUGradin99 · May 11, 2006

The wire transfer division appears to be based in the US. However, the parent company / the bank that it operates through is definitely has a strong presence in Mexico. Bancomer is one of Mexico's largest banks. Additionally, "Bancomer Grupo Financiero" is Mexico's second largest financial group.

However, it operates throughout Central America, Europe, and Asia. I can't seem to find where it is based. Their websites are all in other languages. From your article, it looks like it may be Spain?

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