[oddone]

When shopping in the local mall here in Campeche state, Mexico, my (Norwegian) Credit/Debit card was rejected at the till.

I tried to take out cash in ATM's; Banamex, Bancomer, Santander and HSBC.
No money, but same message: "Unable to connect to financial institution".

I'm pretty worried now. Does anybody know "something"

[oddone]

Checked in to my account, and the messages
"Service not available" for salary and savings accounts, and "The system is not available at this time" for credit...

I also called the 24 hr hotline for lost /stolen cc's; they said there that "there has been a "felles" = communal, common (to several banks) problem, now resolved."

My on-line banking give the same msg as before.

What I fear is that one of the major financial institusions is finished, and transactions are halted.

I will go back to the mall and try the ATM's again soon, some cash may be useful at this time...

[Revi]

In Mexico you might just be experiencing the way the place used to work.

I lived in Guatemala in the 80's and the nearest phone was an hour away from the town I lived in.

There was no way an ATM would work in Mexico.

I don't think it's an international thing.

[SchroedingersCat]

If you tried four different bank's ATMs and the result was the same there are two possibilities:
1) The main gateway for Mexico is down for some reason and not routing ATM transactions;
2) Your bank in Norway is having problems and has shut down online transactions

Hard to tell which it is. Perhaps you can see if a local can get money from the same ATM you tried. That would point to your bank as the problem

[oddone]

Just got back from the mall, got my cash this time

I just imagine though, that this is what may happen, if the financial system collapse. Friday night, and no finance available...

[the48thronin]

Just got back from the mall, got my cash this time

I just imagine though, that this is what may happen, if the financial system collapse. Friday night, and no finance available...

months ago I recommended to all the truckers ( in the USA) listening to the show that they gather up and keep 4 times the amount of cash it would take to buy enough fuel to get themselves home from the farthest point they might be from home. My wife and I ( we each drive our own truck) have done so.

If fuel cards stop working even from cyber attack, trucks will be sitting all over the country within 12 hours.

I also lived in Guatemala in the late 70s early 80s, but I traveled extensively. Carrying cash was normal as banking was a big city thing. You have chosen to live in a country riddled with corruption, and under pressure from both secessionist native movements, and criminal organizations. I remember having not only a car fully fueled and unknown to most people available 24/7 but also a cash fund sufficient to get back to the united states in relative comfort.

Good luck.

[SeaGypsy]

I have family visiting from Germany at the moment; staying here in the Philippines. On the way here via Hong Kong the airlines were all refusing to take European credit cards. The ATM still worked, so they were able to withdraw cash& pay their forwarding flight.
This was one week ago. Your post just jogged my mind about it.
WTF is going on when a European credit card can only be used for cash advances in a serious airport like Hong Kong?

[TheDude]

Caught this at TAE on the 3rd: Ukraine risks unrest as ills worsen

Olexander Pavlenko, a young computer programmer, is one of tens of thousands of Ukrainians who cannot get their money out of the bank. He stood in line in Kiev at Nadra Bank and Ukrprombank, two big troubled banks, planning to withdraw more than $10,000 (€7,950, £7,125). But like many others, he was told the cash was not available. "I stood in line a couple times with other bank clients who were protesting, crying and screaming. But the bank told me: ‘Sorry, we simply don’t have the money now and can’t help you.’"

With about nine banks now under the central bank’s special control, Ukrainians are increasingly worried. Even those with their money in apparently solid banks, including those controlled by west European banking groups, are concerned because the central bank has banned the early redemption of term deposits, the most popular form of saving in Ukraine. Altogether, hryvnia bank deposits have dropped 20 per cent since September and those in foreign currency 10 per cent.

"This is very serious," said Olexander Suhonyako, president of the Association of Ukrainian Banks. The growing discontent among bank clients is matched by other signs of public anger at the impact of the global crisis – and at the seeming inability of the country’s divided leaders to respond effectively. Recent weeks have seen protests by truck drivers complaining about taxes and the dramatic decline of the hryvnia, which has complicated the repayment of foreign currency vehicle loans.

TAE: The Automatic Earth: March 3 2009: Sometimes I sit up in the darkness. You might check today's entry for updates.