Zihuatanejo-Ixtapa Message Board - Trust through Scotia Bank

Has anyone seen a decrease in thier. Trust fees at Scotia Bank this year? Ours went from $498 to $349.00 this year. Been trying to get an answer from the bank on why the decrease. Just trying to get some answers and different input. We have been paying the same amount for 15 years. I know most of you will say don’t rock the boat and be thankful it’s a decrease but I need to find out if this is a mistake.

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We had our trust through Scotia Bank in Acapulco. Our contact was Amarantha Padilla: apadilla@scotiabank.com.mx

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Has anyone seen a decrease in thier. Trust fees at Scotia Bank this year? Ours went from $498 to $349.00 this year. Been trying to get an answer from the bank on why the decrease. Just trying to get some answers and different input. We have been paying the same amount for 15 years. I know most of you will say don’t rock the boat and be thankful it’s a decrease but I need to find out if this is a mistake.

Ours is the same price as yours and we paid in July[$498] However they would not let us pay in USD at Scotia Bank. We were required to get a conversion to pay by pesos.

Would be interesting to hear from others. Also be prepared to pay in pesos rather in dollars if going in person to the bank in Z.

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For me having a trust thru Scotia Bank has been the worst experience I have ever encountered with a financial institution. It is not just one bad experience but rather year after year of incompetence. I have paid three times at the local Scotia branch on Benito Juarez in pesos and scanned and sent a copy to Amarantha in Acapulco by email and despite multiple requests she has NEVER acknowledged that I am current.
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I get it that Scotia has thousands of trusts to administer, but all they have to do is give one a proper accounting yearly and mail a postcard reminder when the next payment is due. This is apparently too much to ask for an annual $498 USD fee.

I have heard that Intercam is now handling trusts which I may look into transferring my trust from Scotia if that is legally possible?

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I have read that it is technically possible, but considering the service that Amarantha has provided to both you and us, it might be easier to just hold your breath and see what color you turn!!!

Get citizenship and abolish the trust. We HOPE that will work!

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Thanks everyone for the input, very informative.

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Our trust is with Scotia Bank and we never receive an annual notice like you reference. I have to have a reminder in my calendar. Do they send you an email? Also, I believe Amarantha’s email is different than referenced above. I’ve used the following: aradilla@scotiabank.com.mx

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Wish we could pay ours! Last month it was 5 years since we closed on our house and we still don't have the trust ready, according to Amarantha. I quit contacting her 2 years ago after she assured me, in writing, that there would be no late fees and they couldn't take our house.

Very soon we'll get our citizenship, then go to the Notary and find out what to do!

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Scotia has to be the most incompetent financial institution in Mexico. I had my trust with them for 12 years and had nothing but problems with them. When you pay your trust at the local branch, make sure you copy your receipt as the one they give you fades away after a short period of time. The people that are to administer the trust never return your calls, letters or emails. Ive gone to Intercam and so far they may be slow, but at least they will send notices and communicate with you

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We just bought and tried to do a trust transfer with Scotia, but they would not do it. Apparently they are getting out of the trust business and not even doing new ones, which may be why so few resources are being put towards the existing ones.

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We just bought and tried to do a trust transfer with Scotia, but they would not do it. Apparently they are getting out of the trust business and not even doing new ones, which may be why so few resources are being put towards the existing ones.

I believe it is more like they have been sanctioned and are no longer allowed to do trusts until they clean and catch-up on what they have.