Discover the benefits of Los Cabos bank services for foreigners
Joining three key banking professionals at Banca Mifel in Cabo San Lucas, Nick Fong presents some interesting details about banking in Mexico as compared to the United States and Canada. To start out, learn all about Banca Mifel. Then, uncover what Los Cabos bank services are all about and what it means to do your banking in Los Cabos.
Los Cabos bank services: Banca Mifel
Providing all of the Los Cabos bank services that a foreigner will need, Banca Mifel stands on top. To begin, they provide checking and debit accounts along with money exchange service. In fact, they will exchange Dollars to Pesos or Pesos to Dollars without having a bank account. All you need is your passport, and they will give you the best rate of exchange. The exchange rate is based on the current rate, which is dynamic, and changes throughout the day. As an important note, Mexican laws limit money exchanges to $750 USD per day and $1500 USD per month, either with cash or with your credit card.
Banca Mifel is considered a boutique bank, which means the Los Cabos bank services provided by them cover everything that other Mexico banks provide, plus more. And since they are located in Cabo, they cater to foreigners from the United States, Canada, and other countries. To elaborate, they provide Mexican real estate buyers with Bank Trust services (called “fideicomiso’s” in Spanish), which is required for foreigners to buy real estate in Cabo. Banca Mifel was the first bank in Cabo to provide these helpful services.
Banca Mifel offers great Benefits
Considered as the number-one bank in Los Cabos for Bank Trust services, Banca Mifel caters to foreigners who wish to buy real estate in Cabo. Their strength is in numbers – they provide real estate closing services to more foreigners than any other bank in Cabo. As an example, they close 47 real estate sales per month. This allows them to charge 10% less than other banks for yearly bank trust fees. That is why foreigners choose Banka Mifel over other banks in Los Cabos – it’s cheaper and it’s faster. Therefore, saving both time and money at a bank that provides all of the Cabo bank services that you would need, means it’s a great option for banking in Cabo.
After you open a bank account with Banca Mifel, your Los Cabos bank services will be even better. For example, you can exchange up to $4000 USD per month. And whether you are a banking client or a walk-in, there are no money exchange fees. And, they have two locations in Los Cabos to serve you: one in Cabo San Lucas, and the other is located in San Jose del Cabo.
For fideicomiso (Bank Trust) services, being a boutique bank, they handle all of the extra work for the home buyer. As an example, they take the paperwork to the notary for their clients, along with other tasks that must be handled. Also, by hiring the best and most experienced people, you can count on reliable and friendly service every time. Their priority is to cater to foreigners in Cabo.
Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong. He’s featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you wish to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions. You can also schedule a time to show you around this breathtaking location.
Ronival on YouTube
Thank you for reading Discover the benefits of Los Cabos bank services for foreigners. Be sure to read other posts about Cabo and Baja California Sur on the Ronival blog. There, learn about the many wonderful aspects of Baja California Sur, Mexico, from blog posts like this.