MULTIVA POOR CUSTOMER SERVICE/COMMUNICATION

When our friend passed last December, my wife, the executor of his estate discovered his debit card missing and went to Multiva to report same.   Multiva bank advised they couldn't share info as she was not listed on his checking account.  Now  nearly 7 months later, she has been advised by the investment representative that she is the beneficiary of his investment account (99% of his holdings) and has access to 75% of the money until the will is settled.   Unfortunately the investment side failed to advise the banking side so misinformation prevailed.

Besides being frustrated dealing with this PITA, we discovered all debts could have been paid 6 months ago and some legal expenses could have been avoided, not to mention a large portion of funds distributed to beneficiaries. The 25% would have sat there until issues caused by Notario # 1 were resolved.

                    

I hope you said something to Erika Torres, the manager ..... she needs to be aware of this!!

Yes, But they are still a PITA!  Deb took a copy of the probate documents to them showing she was the executor and they (Multiva Bank) refused to release the funds.  Spencer then took a certified copy from the court and they still refuse to release the funds.  Spencer went back to court, and the court is supposed to serve them demand to release the funds.  We are in the 3rd month of trying to receive the checking account funds.    

Ok, I hear you!!!
Can you share if they have given you a reason and if so, what that is?
Do you know if anyone else has had this same/similar problem?

This certainly does not sound reasonable.

Multiva claims his cousin was listed as beneficiary, which she was, 5 years ago, and refuse to budge.   The deceased wrote a new will 2 years ago.  The cousin signed a power of attorney designating the executor to act on her behalf, and provided an apostille at the Mexican consulate in Oregon in January.  

Mexican court in Chapala accepted these documents, and those of the other beneficiaries in May.  Multiva   Bank wants a new Power of Attorney, new apostille, copies of the cousins passport, power bill, etc.   All this while Multiva Investment group has released 100% of the funds they held. Multiva Bank continues to hold approx. 3% of the entire estate.  

I find the whole thing rather confusing as in most worlds a will post dating other documents prevails.....so now the Chapala Court has issued an order for Multiva Bank to release the funds........so here we sit 3 months later.....

Jim W wrote:Multiva claims his cousin was listed as beneficiary, which she was, 5 years ago, and refuse to budge.   The deceased wrote a new will 2 years ago.  The cousin signed a power of attorney designating the executor to act on her behalf, and provided an apostille at the Mexican consulate in Oregon in January.  

Mexican court in Chapala accepted these documents, and those of the other beneficiaries in May.  Multiva   Bank wants a new Power of Attorney, new apostille, copies of the cousins passport, power bill, etc.   All this while Multiva Investment group has released 100% of the funds they held.  Multiva Bank continues to hold approx. 3% of the entire estate.    

I find the whole thing rather confusing as in most worlds a will post dating other documents prevails.....so now the Chapala Court has issued an order for Multiva Bank to release the funds........so here we sit 3 months later.....

Wow, pain in the a..... for sure.
It really demonstrates the importance of having all of our documents stating the same information. And, even then, it is a problem!! I hope this gets sorted out for you soon. No one needs this added aggravation!

Sherman wrote:

Jim W wrote:Multiva claims his cousin was listed as beneficiary, which she was, 5 years ago, and refuse to budge.   The deceased wrote a new will 2 years ago.  The cousin signed a power of attorney designating the executor to act on her behalf, and provided an apostille at the Mexican consulate in Oregon in January.  

Mexican court in Chapala accepted these documents, and those of the other beneficiaries in May.  Multiva   Bank wants a new Power of Attorney, new apostille, copies of the cousins passport, power bill, etc.   All this while Multiva Investment group has released 100% of the funds they held.  Multiva Bank continues to hold approx. 3% of the entire estate.    

I find the whole thing rather confusing as in most worlds a will post dating other documents prevails.....so now the Chapala Court has issued an order for Multiva Bank to release the funds........so here we sit 3 months later.....

Wow, pain in the a..... for sure.
It really demonstrates the importance of having all of our documents stating the same information.  And, even then, it is a problem!!  I hope this gets sorted out for you soon.  No one needs this added aggravation!

Sherman, One thing I failed to mention, Multiva banking refused to accept a photocopy of the death certificate, provided by Multiva Investment group upstairs in the same building, so back to the courthouse to buy additional copies. At this point we could write a short book regarding wills and probate in Mexico, based on personal experience. We've learned a lot over the past 9 months, and have posted much on the issue.

I indeed hope you will document your experience so that it may help the rest of us as we work with others or for others trying to get our situations sorted out!

I often jokingly say this place is like the wild, wild west. As time goes on, it is becoming less and less of a joke!!

Sounds like jimw needs a good attorney.

Harry Johnson wrote:Sounds like jimw needs a good attorney.

Jim has an excellent attorney. Around here that is not always enough.
A couple of horseshoes loaded with luck are often a needed accompaniment.  

Sherman wrote:I indeed hope you will document your experience so that it may help the rest of us as we work with others or for others trying to get our situations sorted out!

I often jokingly say this place is like the wild, wild west.  As time goes on, it is becoming less and less of a joke!!

Sherman, Here is the letter received from Multiva Bank.  Please keep in mind, the beneficiary has already provide an Apostille, and a power of attorney, and the Multiva investment group released the funds they held......and yes we closed our accounts at MultiVA.

The courts in Chapala approved same.  All beneficiaries have been paid as we never anticipated MULTIVA BANK would fight a court order!  



Dear Deborah;

I finally received the information concerning to the beneficiary bank account.

In order to release the funds in your name,   needs to sign a letter with the formal petition to give you the funds. The letter must contain the following information:

·         Letter to: BANCO MULTIVA, S.A. INSTITUCION DE BANCA MÚLTIPLE. GRUPO FINANCIERO MULTIVA.
·         This letter needs to say that she is the only beneficiary
·         Should mention the account number and Robert Philemon Morris name, other words all the account information.
·         Mentioning that in her capacity as beneficiary instruct or claims that the bank will give all the money to Deborah Ann xxx
·         All this information from Sarah: Full Name, birth date, place of birth, Nationality, Economic Activity, Home Address, Telephone number, email.
·         And she needs to give us copy of her Official and legal ID (passport or USA ID), and Proof of address (the most recent electric or telephone bill).  
·         Sign the letter attached.

Having this 2 letters and copy of her documents we can give you this funds.

Cordially, I remain


Gerente Banca Privada
Grupo Financiero Multiva
 

So now we fight for a stinking 12,000 pesos, damn if we will leave them in Multiva hands.      

Why don´t you do what she ask you to do? Write the letter , give her what she is asking for and then go from there .
I do not see any poor service or fighting just some silly bureaucratic requirement. It is frustrating to deal wit the bureaucrats but you can go a whole lot further if you do what they ask you to do.
She just gave you in wrting her conditions, fill them and you wil have what you want.

brigitte wrote:Why don´t you do what she ask you to do? Write the letter , give her what she is asking for and then go from there .
I do not see any poor service or fighting just some silly bureaucratic requirement. It is frustrating to deal wit the bureaucrats but you can go a whole lot further if you do what they ask you to do.
She just gave you in wrting her conditions, fill them and you wil have what you want.

Brigitte, who is she?  Please reread the thread.  The she has already provided an Apostille and a power of attorney.  The she would now have to pay for another translated POA and Apostille.

My primary reason for starting this thread was to let members know what they face when dealing with a will as executor in Mexico.
The court ordered Multiva to release funds.... Was there someplace I missed in this thread where I asked for advise?  

Ok, for sure this is a pain.
However, for the new power of attorney from NOB, the person can prepare that themselves. They will have to get a notary public to sign it and then process the apostille (and pay for that). And, yes it will have to be translated here (and pay for that). But, after ALL of this, hopefully that will be it!!!!

The manager of the local Multiva is Erika Torres. I don't know if that who is 'she' is and it may be coming out of Guad or out of Mexico City?????

If you don't know Erika, you might go in and speak with her.

It sounds like the want the 'who' of the beneficiary to be squeeky clean! If that's the case, while this is a pain for you, it is to their credit.

Wishing you peace, soooon!

Sherman, she already provided the POA and Apostille in Feb this year,  Spencer is on top of it!   and thank you. 

Jim W wrote:Sherman, she already provided the POA and Apostille in Feb this year,  Spencer is on top of it!    and thank you. 

You won't get better care here lakeside than Spencer; si?

GRACIAS

So here we sit, nearly 4 months since Spencer filed court order for Multiva to release funds held in checking account to the executor of the estate.

Apparently the justice system carries "ZERO" weight when they....Multiva can ignore a court order, for months. We are fighting this because the money is marked for charity, and not Multiva slush fund!  

Good Grief Jim!

Christmas Eve and you feel the need to pile on something negative?

Neil, Christmas Eve, Bah Humbug! Actually, bad day on the golf course! LMAO......Cherry Mismas , all.

Not like you have never experienced a bad day of golf before! Just like golfers for centuries.

Neil, I have a weird mindset, I hate playing badly and winning, much prefer, playing well and losing. Today, the money was big going into the last hole, number 2 handicap hole, I made birdie, we win! suckday

So what can we expect from you on the day that Deb kicks your butt?