Just paid Scotiabank $6,962 for them doing nothing for the next 12 months but putting their name on some papers. This is up from $6,668 last year, also for doing not a damn thing. The previous year was $6,380. Guess what they did to earn the fee that year. Not a damn thing. I hope our government is serious about amending the constitution or whatever, so that we can perhaps stop paying these outrageous fees that are pure profit to the banks. This and my FM2 fees are making it an expensive week. But I was lucky enough to load up on some pesos before it strenghtended nearly 5% in the last week. Kind of like getting a 5% discount. Jajaja
It's a steep premium on wanting to live near the sea, alright. Anybody who was on a limited income, and wanted to retire to Mexico, would need to consider this added expense in making a decision about where in Mexico to settle. It's a real gold mine for banks and, yes, they do nothing for it except allow the use of their names on the titles to property owned by foreigners. Get dual U.S./Mexican citizenship one day, T.J., and you won't need to go through this any longer.
Mine is with Banorte and has not gone up a dime in 5 years, except when IVA went from 15% to 16%. Evidentally, IVA is charged on a fideicomiso, although I have never been able to get a definitive confirmation on this. I still don't know if my gal is just pocketing an extra 1120 pesos a year or not. The fideicomiso itself is not supposed to change for the life of the trust. These must be bank fees that y'all are getting stuck with.
fidecomiso fees thats outrageous, either you own a palace on the beach or youve got a huge house because i live in town and will be paying 444 usd a yr for mine,im in a good neighborhood and have a 3 bdrm and 2 bath; im doing it with banco del bajio in town. did business with them when i had my old house, theyre reasonable.
If you pay in dollars, your fee never changes. Mine is $500. It's shocking when you see the change in pesos payments. BUT, I was just in Ohio and happily stopped at the my bank's ATM for a no foreign fee withdrawal.
Fide Comiso I'm with lovethetropics! I've had my FideComiso for 4 years with Banco Bajia. It has been $444usd all this time. It was recommended to me by the administrator of my Condo....she is a very knowledgeable Cancunense. I get an e-mail 2 months before to let me know it's due, I give her the money(in pesos...dollars are a pain in the "burro" when paying a Fide), she gives me the receipt, and believe it or not, the whole process takes 10 minutes. I think it's just about the only thing I've done in a bank in the last 13 years that took under a half an hour. They're very accommodating, as nice as can be and FAST! My kinda bank!! I'm pretty sure you can change banks...they just want to make sure the extranjeros are paying for the luxury of living close to the waters.
