Hi everyone. I'm looking for reviews on banks regarding fideicomisos.
Ideally, I'd like to deal with a bank that has a location in San Jose del Cabo, has good online services for annual payments, and has good customer
service.
Any thoughts on where to go or where to avoid?
Thanks!bajagrouper - 9-12-2016 at 02:07 AM
I do not remember having a choice in the matter, I believe the notario handeled all the paperwork from the foreign affairs dept. to the end of the
transaction...BigWooo - 9-12-2016 at 06:01 AM
We have a fideicomiso with Banorte and another with Scotiabank. Banorte is a nightmare, Scotiabank is very organized and has always easy to deal
with. Yes you do have a choice. If the Notary won't work with the bank you want, find another notary who will.
[Edited on 9-12-2016 by BigWooo]LaTijereta - 9-12-2016 at 07:13 AM
Banorte's has gotten their act together with the annual renewal process at their relocated TJ office. They also have a new office down in San Jose,
but I have not dealt with them. When in the TJ office this year, Mirsa confirmed that Banorte was not issuing any new Fidios on properties, along with
other banks in Mexico wanting to get out of the process. bajaguy - 9-12-2016 at 07:36 AM
Maybe the banks are doing this as a way to force the government to allow titles being issued instead of Fidios???
Mirsa confirmed that Banorte was not issuing any new Fidios on properties, along with other banks in Mexico wanting to get out of the process.
mtnpop - 9-12-2016 at 07:37 AM
We have a big time dislike for Interacciones in LaPaz... just an office not a bank per se...
Many friends have Bancomer and seem happy with them...
Have been told you can request the Notario negotiate with the bank you want to go with... also once was told you could negotiate the fee..
Have neighbors with a lower fee than we do for the same size property when we questioned the bank they said he negotiated a better rate..
Probably also depends on who you use to help facilitate the Fidei.
Recently told that a facilitator was quoting $12K USD to get a Fideicomiso processed... Sounds like someone is trying to stick it to the ole
gringo....
Seems most everyone has a different story to tell..bajagirl2b - 9-12-2016 at 09:25 AM
Thanks everyone! Ok, so far, I've gotten the following feedback:
- Scotiabank - thumbs up
- Bancomer - good
- Banorte - mixed
- Interacciones - terrible
Any other comments? larryC - 9-12-2016 at 10:05 AM
Its not really a love/hate relationship, more like a necessary evil to own property in Baja. I have Bancomer and they are charging me $550 plus IVA
tax annually. At least they have an address in the US that the annual fee can be mailed to so that if I am not near a Bancomer bank at the first of
the year then I can mail in the payment.JC43 - 9-12-2016 at 10:43 AM
As sayd before: it is not a love or hate issue. An TX expression: chit happens and happens everywhere. Her in CSL we had a Bancomer officer who issued
Fideicomiso - all papers looking good - but `forgotī to send the money to the main office. Well, not a coincident, it happens w/ plenty applications.
Only w( Bancomer??? That can happen with every bank. That`s why Mexico is Mexico.BajaUtah - 9-13-2016 at 11:30 AM
Another thumbs up for Scotiabank. Ours is with the SJD branch. The setup was easy but mainly because we had a local friend walk us through the
process.
They email me reminders when it's time to renew and have 4 or 5 payment options. I just mail a check to a US PO box and I'm done.Beagle - 9-13-2016 at 02:18 PM
Thanks everyone! Ok, so far, I've gotten the following feedback:
- Scotiabank - thumbs up
- Bancomer - good
- Banorte - mixed
- Interacciones - terrible
Any other comments?
Bajagirl, Do some more research before relying on this chart above. I got interested in your question because we just did our Fido. I just did a
search across the nomad site in different sections (General, Q&A, etc.) and what I found was Bancomer showed up in nightmare category over and
over and Interacciones actually had really high marks. Not to doubt what people are saying here but cast your net a little wider. I'm glad you asked
the question because it got me into some research. Good luck!Phil C - 9-13-2016 at 03:29 PM
Scotiabank in SJC has been very easy for us to work with over the past ten years.......Able to pay our fees online with a credit card, and always good
communication.
