bajagirl2b
Newbie
Posts: 2
Registered: 9-11-2016
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Which banks do you love or hate for fideicomisos?
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!
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bajagrouper
Senior Nomad
Posts: 964
Registered: 8-28-2003
Location: Rincon de Guayabitos, Nayarit, Mexico
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Mood: happy and retired
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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...
I hear the whales song
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BigWooo
Senior Nomad
Posts: 579
Registered: 1-2-2007
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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]
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LaTijereta
Super Nomad
Posts: 1192
Registered: 8-27-2003
Location: Loreto
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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.
Democracy is like two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote.
Ben Franklin (1759)
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bajaguy
Elite Nomad
Posts: 9247
Registered: 9-16-2003
Location: Carson City, NV/Ensenada - Baja Country Club
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Mood: must be 5 O'clock somewhere in Baja
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Maybe the banks are doing this as a way to force the government to allow titles being issued instead of Fidios???
Quote: Originally posted by LaTijereta  | | 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.
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mtnpop
Senior Nomad
Posts: 597
Registered: 9-8-2009
Location: Colorado/mulege
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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..
Common sense is a flower that doesn\'t grow in everyone\'s garden.....
A wise man once spoke nothing.....
Never kick a cow chip on a hot day!!
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bajagirl2b
Newbie
Posts: 2
Registered: 9-11-2016
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Thanks everyone! Ok, so far, I've gotten the following feedback:
- Scotiabank - thumbs up
- Bancomer - good
- Banorte - mixed
- Interacciones - terrible
Any other comments?
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larryC
Super Nomad
Posts: 1495
Registered: 8-11-2008
Location: BoLA
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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.
Off grid, 12-190 watt evergreen solar panels on solar trackers, 2-3648 stacked Outback inverters, 610ah LiFePo4 48v battery bank, FM 60 and MX60
Outback charge controllers, X-240 Outback transformer for 240v from inverters, 6500 watt Kubota diesel generator.
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JC43
Nomad
Posts: 498
Registered: 6-21-2014
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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.
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BajaUtah
Nomad
Posts: 190
Registered: 10-4-2013
Location: Salt Lake City/La Ribera
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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.
Andy
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Beagle
Nomad
Posts: 258
Registered: 10-25-2014
Location: Outer Rim
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| Quote: Originally posted by bajagirl2b | Thanks everyone! Ok, so far, I've gotten the following feedback:
- Scotiabank - thumbs up
- Bancomer - good
- Banorte - mixed
- Interacciones - terrible
Any other comments?
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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!
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Phil C
Senior Nomad
Posts: 564
Registered: 3-27-2004
Location: N. San Diego County/ Loreto Centro/Lopez Mateos
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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.
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