Zihuatanejo-Ixtapa Message Board - Scotiabank Annual Trust Fees

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We have had our trust with Scotiabank for 10 years. We pay our annual fees of $498.80 every November via credit card. Other than updating the expiration date on the credit card, it has been a fairly streamlined process. This year they charged me $997.60, which is exactly double the normal amount. I have been sending emails for several days, but not getting a response. Just wondering if anyone else has had this happen. I will probably have to dispute with my credit card company, but was hoping to avoid doing that.

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Scotiabank has been utterly incompetent in my dealings Them this year. They can't figure out where to credit my $10,800 pesos payment I made in person at the branch on Benito Juarez on 10/27/20.

I suggest that you only authorize the $498 USD and tell Scotiabank to deal with it.

I have been trying to arrange an in person meeting since 11/11/20 in Zihua to show Scotiabank the receipt. The person who handles all the Scotiabank fideicomisos at least in Guerrero is in Acapulco.

If you care, you can email me at my address and I will give you her name and phone #.

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We have had our trust with Scotiabank for 10 years. We pay our annual fees of $498.80 every November via credit card. Other than updating the expiration date on the credit card, it has been a fairly streamlined process. This year they charged me $997.60, which is exactly double the normal amount. I have been sending emails for several days, but not getting a response. Just wondering if anyone else has had this happen. I will probably have to dispute with my credit card company, but was hoping to avoid doing that.

For a group of us, all contact to Scotia Bank has been unanswered.
I HIGHLY SUGGEST Making copies of all receipts and keep in different places. The paper it is printed on from the bank, the numbers will disappear over time.

D

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I sadly found out about the disappearing ink! I learned to make a copy or put clear tape over the receipt that you receive from Scotiabank. The whole fideicomiso system appears broken at least in Guerrero.

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We have our trust with them too. It's transfer date to us was August 2017. We have not been able to pay for it. We haven't had any word from Amarantha in 18 months, and that was to tell us not to worry, there wouldn't be any late penalties and they wouldn't take our property. That's it.

We'll be citizens before she figures it out and will be able to get rid of the trust.

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We'll be citizens before she figures it out and will be able to get rid of the trust.

Excellent strategy! This is why I would prefer to become a citizen before buying property in Mexico. I was all ready to rent a place in Tijuana and apply for a permanent resident visa. It was all planned last March when the virus hit. Now I can't remember which visa I was going to apply for, the FM2 or FM3. When the vaccines become available, I plan to start the process all over again. But this time, I found a cheaper place in Rosarito. The best laid plans of mice and men ...

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FM2 and FM3 have been replaced by Temporary Resident Visa and Permanent Resident Visa.

The main difference between them is the amount of income/net worth you have to show. Permanent takes more, and is a one time thing. You get it, that's it. Temporary has to be renewed annually for up to four years at which time you can apply for Permanent Residency and not have to show the higher income/net worth.

https://immigrationtomexico.mx/pros-cons-temporary-or-permanent-residency-in-mexico/

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Suggest that you might want to send Amarantha periodic reminders that you desire to pay and expect no penalties or interest. I was thinking I was alone in the lack of responsiveness from Scotiabank. Any idea on the process to remove the trust once you become citizens? Buenas Suerete !

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No, but I think I read somewhere it costs about 1500 USD.

Our thought is to go to the notary that handled our home purchase and see if he would handle it.

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I too have had my trust with those thieves for over ten years. This year they charged me double and over the original $498.00. I emailed several times and Aramantha Radilla Florez said don't worry we will take care and get your money back. They charged me $1,067.00 then returned $533.73 to my CC. I then called her several times and she would not answer. What recourse do we have? Is it possible to go to the local Scotiabank and get some? Thanks

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I am glad that you were successful in getting Scotia to refund the overpayment. I have a trust set up in 2017(not my house) when I paid for the first two years of fideicomiso thru the local notario. Now the same scotia employee you mentioned has told me since feb'20 they can't find the trust # to credit additional payments.

For my house where I made a cash payment on 10/27/20, I cannot get the same Scotia employee to set up an appointment locally at the Zihua branch to verify that my receipt is legit. I get the impression that the local Scotia branch has nothing to do with Fideicomisos. I would be in favor of the Federal gov't taking this function over from Scotiabank.

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I am glad that you were successful in getting Scotia to refund the overpayment. I have a trust set up in 2017(not my house) when I paid for the first two years of fideicomiso thru the local notario. Now the same scotia employee you mentioned has told me since feb'20 they can't find the trust # to credit additional payments.

For my house where I made a cash payment on 10/27/20, I cannot get the same Scotia employee to set up an appointment locally at the Zihua branch to verify that my receipt is legit. I get the impression that the local Scotia branch has nothing to do with Fideicomisos. I would be in favor of the Federal gov't taking this function over from Scotiabank.

In fact you are correct. The local Scotia bank has nothing to do with Fideicomisos and is completely clueless!

The Govt. Of Mexico should never take this over. The problem is the money grab and the overworked office.

D

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You may be correct on the impact of a government take over of the fideicomiso, but the inability of Scotiabank to do basic functions like tracking a payment leads to extreme frustration.

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And a person should consider buying a property there why?

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Because we love it here!!!

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Mi Gusta

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I received a response after copying several people at Scotiabank. I am including the contact information of the person who replied just in case it would be helpful to anyone else. They did acknowledge their error, but did not offer to credit my card. They offered to apply the overpayment to my 2021 fees but said it would be easiest to have the credit card bank pull back the overpayment. As a result, I am still disputing the charge.

Contact Information:

Alberto Saucedo I Gerente Cobranza y Control Fiduciario
Scotiabank México
Blvd. Manuel Ávila Camacho No.1, Piso 9.
Col. Lomas de Chapultepec, Ciudad de México C.P. 1009
Tel: +52 (55) 5123 2460 I Directo
Tel. +52 (55) 5123 0000 I Ext: 32460
agsaucedo@scotiabank.com.mx

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I think I will contact Alberto to get some help in acknowledging the $10,800 pesos payment I made in October 2020. I will report back some time if I get any result.

thanks for providing this additional info.

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