bank info and fideiocomiso to Banco Banorte HSCB

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Re: bank info and fideiocomiso to Banco Banorte HSCB

Post by dean on Sun Sep 04, 2016 6:26 pm

bpe

b. Hello foreigners who own property in Baja. It’s true, some banks are getting out of the fideicomiso business and some are only getting partially out. If you are selling your property and the bank that holds your fidei will not transfer ownership, at the time of the sale you will be required to cancel your existing fidei (seller’s expense) and the buyers will have to start a new one (buyer’s expense). This can add $2,000-$3,000 total to the cost of the transaction.
Here is the current status of the major players:

HSBC
No new Fideicomisos.
Need to change banks when you transfer ownership or your existing fidei expires.

Banamex
No new Fideicomisos.
Need to change banks when you transfer ownership.
Can extend existing fidei for the original term 30 or 50 years when it expires.

Bancomer
No new Fideicomisos.
They allow assignation (Cession) of Fideicomiso rights.
Can extend existing fidei for the original term 30 or 50 years when it expires.

Banorte
No new Fideicomisos.
They allow assignation (Cession) of Fideicomiso rights.
Can extend existing fidei for the original term 30 or 50 years when it expires.

Santander
No new Fideicomisos.
They allow assignation (Cession) of Fideicomiso rights.
Can extend existing fidei for the original term 30 or 50 years when it expires.

Scotia Bank
OK

Banco del Bajio
OK

Banco Interacciones
OK

dean

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Re: bank info and fideiocomiso to Banco Banorte HSCB

Post by dean on Sun Aug 28, 2016 7:54 pm

HSCB/FIDO DISCUSSION.  SEND ALL FACTUAL NOTICES TO THE BPE.

BPE wrote: a.   My name is Dwnell Testa and I have just learned from my Mexico attorney that any of us with our Fideicomiso with HSBC  will need to terminate our contracts and move to a new bank as HSBC is closing this area of their bank.  They are not assigning our contracts to a new bank. They are just dissolving this part of their business. Many of us are going to have to spend thousands of dollars to fix this issue!!! I'd be curious if you have heard the same thing????

HSBC is not renewing, modifying or taking new Fidos, BUT all existing will be honored including beneficiaries.

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Re: bank info and fideiocomiso to Banco Banorte HSCB

Post by dean on Tue Oct 14, 2014 8:18 am

BPE

a.  Bancomer Reply - We received the following information from BPE readers: Minimum balance Peso account 2000 and USD account is $200 minimum. Bancomer now charges a significant fee to receive USD wire transfers. Branch Manager at Bancomer, Los Barriles, email:miguel.mijares@bbva.com 
     If you do not have any account activity for more than 90 days your account may be blocked. I simply transfer on-line $25 from my USD to my Peso account every other month. Once blocked you must physically enter the bank to then unlock your account. I now deposit cash and or a US personal check when we first arrive. Funds by US check are available in 10 business days. Thanks Linda

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Re: Beware Bancomer fees! from LaPaz in my opinion

Post by dean on Wed Mar 19, 2014 7:02 am


We learned, as many of you did last year, that Bancomer would be introducing fees on Peso accounts if one didn't keep a minimum balance of $2000 peso's. We promptly made a deposit to equal the required amount. As snowbirds, we don't receive regular statements from Bancomer, actually often don't even receive them while here. However, I knew we had the minimum $2000 peso's in the account, so no worries. When I finally sat down to review statements, I was a little shocked to see we had a grand total of $30 peso's left in the account. It seems that the fine print in the 21 page Spanish Bancomer contract says something to the effect that the account must have a minimum AVERAGE of $2000 P every month. As we started out with $1000 P, then added another $1000 P we never exceeded the average, so they took fees of 160 P per month, plus IVA of 17.6 P per month. Then, as a final insult, they took the final 30 P and closed the account. I realize we signed a contract, and it probably is all detailed there somewhere in the fine print, but the concept of an "average" of 2000 P is a little underhanded in my opinion. (I'm trying to use moderate language here, but am actually really pissed). Especially pissed that we put $1000 P in a year ago, and it's all gone. We never actually used the account, not one withdrawal, but just had it "in case" as a matter of convenience. Bottom line, watch your Bancomer peso accounts, folks. We went to close our US$ account this morning, but they wouldn’t do it without a passport, so we simply drained the account…..left 4 peso’s that I’m sure they’ll scoop pretty quickly. 






That is why you read the contract. It is pretty standard with Bancomer.
Banorte and Banamex have no minimum balance accounts. Well they did. I am
not sure if they have them still. But I have to say if your a snow bird
check into the Capital one 360. I do a lot of banking between here and the
United States and even Canada and the fastest and cheapest way I have found
so far is Capital one 360. Charles Schwab is fine if you do not mind having
100'000 in the account at all times and live in the states full time.

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bank info and fideiocomiso to Banco Banorte HSCB

Post by dean on Sat Nov 23, 2013 8:15 am

b.  Info:  I have been paying my fideiocomiso to Banco Banorte through Jorge Pickett. He is no longer with the bank, but I do have an email address for the new Gerente Fiduciario from Banco Banorte. His name is Pablo Desiga and he is fluent in English: pablo.desiga@banorte.com.  Make sure you send him your fideiocomiso number.  Kristine B.


Last edited by dean on Sun Aug 28, 2016 7:56 pm; edited 1 time in total

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Re: bank info and fideiocomiso to Banco Banorte HSCB

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