HSBC Trusts

[Terry C]

Anyone else get this notice by email?

Jacqueline DIAZ

FIDUCIARIO | HSBC México, S. A.
Av. Paseo de la Reforma 347, Piso 19, Col. Cuauhtémoc, C.P. 06500, Ciudad México.

Phone: + 52 55 5721 3791

Email: [email protected]

Internet: http:// www.hsbc.com.mx



INTERNAL

December 1, 2021

Present:

Reference: Trust Update F/XXXXXXX

Dear Sirs:

Regarding of your trust agreement with the identify with the number XXXXXX in wich

you place your trust with this Institution HSBC México, S.A., Institución de Banca Múltiple,

Grupo Financiero HSBC, División Fiduciaria) to be your Trustee and management you

contract for the established purposes.

In addition, we want to inform you that HSBC Trustee is committed to its

possibilities in order to keep continue with all the operations that you instruct to us, which

is assignments of rights, recognition of trust rights, transfer of property and extension of

your permit without having the need of extinguish or transfer the property to another

Trustee Bank, unless you required.

In order to give you a better service and to accomplish with the regulatory

requirements, its necessary to update your file and you need to provide us the following list

of documents:

Documents KYC (“Know your client” for Individuals Persons:

a) Legible and currently copy of your Passport.

b) Copy of your proof address no longer that 3 (PO.BOX. are not accepted)

c) Form K (General Information)

d) RFC or Equivalent (Social Security Number)

Document KYC (“Know your client” for Entities or Moral Person:

a) Act of Incorporation or Equivalent (Articles of Incorporation, certificated de Good

Standing, Operating Agreement) Apostilled stamp and Translated.

b) RFC or Equivalent (Employer Identification Number)

c) Copy of your proof address no longer that 3 (PO.BOX. are not accepted)

d) Form K (General Information)

For the Property:

a) Copy of your Property Taxes, Appraisal.

2

INTERNAL

Also we invite you restructure the amount, payments forms, and you due dates, for

your administration fees of your contract:

In order to make this happen, we will appreciated to to contact us, so we can let you

know about your Trust.

You can find us, to give you the Best attention, in the following contact information:

a) Email address: [email protected]

b) Our address in Mexico City with a personal contact: Av. Paseo de la Reforma 347,

P-19, Col. Cuauhtémoc, C.P. 06500, Ciudad de México en atención a la División Fiduciaria

c) Our address in Los Cabos with a personal contact: Carretera Transpeninsular KM

0.5, Plaza San Lucas, Col. El Tezal, C.P. 23405, Los Cabos, BCS.

With no other particular, and waiting for your response.

Thank you and Best regards.

Attentively.

____________________________________________________________

HSBC México, S.A., Institución de Banca Múltiple,

Grupo Financiero HSBC, División Fiduciaria

Priscilla Vega Calatayud

 

[joanC]

What is required on the form K?

Providing that extent of personal information to foreigners in a country that ranks in the top 5 in the world for corruption would cause me concern.

 

[mondone]

I thought they were ordered to get out of the bank trust business. Considering the ordeal, I have had the past 5 years with them in getting a new trust with Autofin from their sellers trust, I find this surprising to say the least.

 

[Terry C]

I thought they were ordered to get out of the bank trust business. Considering the ordeal, I have had the past 5 years with them in getting a new trust with Autofin from their sellers trust, I find this surprising to say the least.

I did too. I have one factua in the last 5 years and practically beg for what I owe. PE people ask me what to do when no reply. I just say, pay what you did last year. The mailing address they have states, any correspondence will be tossed….

 

[Terry C]

What is required on the form K?

Providing that extent of personal information to foreigners in a country that ranks in the top 5 in the world for corruption would cause me concern.

Not a clue, I need to ask. A IRS Schedule K-1 is a partnership tax form. I doubt they are asking for this…..

 

[brokenwave]

I did too. I have one factua in the last 5 years and practically beg for what I owe. PE people ask me what to do when no reply. I just say, pay what you did last year. The mailing address they have states, any correspondence will be tossed….

Ask for a receipt/statement when paying for your Trust to ensure you are current.

We have Bancomer handling our trust and had been paying the same amount for years and never received a statement,
even when requesting one from the Bancomer branch in Penasco and/or mailing our payment to San Ysidro.
The trust fee was raised 4 times in 20 years without our knowledge.
Last 2 pages of our trust states Trust fees may increase and it is our responsibly to know the amount each year.

Not following up on this was costly, Bancomer charges you a 2% per month fee on the unpaid balance including late fees (24+% per year)

So instead of owing about $1,000-1,200 in short trust fees it grew to over $2,500 with the late fees included.

Lesson learned the hard way.

 

[Terry C]

Ask for a receipt/statement when paying for your Trust to ensure you are current.

We have Bancomer handling our trust and had been paying the same amount for years and never received a statement,
even when requesting one from the Bancomer branch in Penasco and/or mailing our payment to San Ysidro.
The trust fee was raised 4 times in 20 years without our knowledge.
Last 2 pages of our trust states Trust fees may increase and it is our responsibly to know the amount each year.

Not following up on this was costly, Bancomer charges you a 2% per month fee on the unpaid balance including late fees (24+% per year)

So instead of owing about $1,000-1,200 in short trust fees it grew to over $2,500 with the late fees included.

Lesson learned the hard way.

There was a few years nobody could get a response from several emails we had sent them to 4-5 different people. The last two years we have had a response on what the fees are per year.

 

[brokenwave]

There was a few years nobody could get a response from several emails we had sent them to 4-5 different people. The last two years we have had a response on what the fees are per year.

The past 2 years have been easy, since we we're given Monica's from Bancomer's e-mail, things are great now. This year when we contacted her
she didn't reply, but received a link with the amount to pay on-line (Bancomer has shut down the on-line pay site for upgrades
due to be completed sometime next year).
If you need to pay your trust fees, you can do it at the Bancomer bank in town.

Here is a post from the Cholla Bay Visitors FB page with more options.

FROM BANCOMER:
Please be informed that the online payment option with your credit or debit card through a link is currently unavailable due a platform and system update. This payment option will not be reinstalled until next year and we still don't have an estimated time for restoration of the link, I apologize for the inconvenience.
Kindly be informed regarding our available payment methods:
Direct transfer to contract, only Mexican Pesos (No USD), if you're interested in this payment method we'll provide information
Wire transfer of USD to our USD account, if you're interested in this payment method we'll provide information
Payment with personal check payable to BBVA México SA de CV at any BBVA México branch; your reference number is your Trust Contract number
Payment with cash ONLY Mexican Pesos (NO US Dollar accepted), exchange rate of the day should be consulted at our website: https://www.bbva.mx/.../informacion-financiera-al-dia.html at any BBVA México branch; your reference number is your Trust Contract number