One-Stop Banking, now in Puerto Vallarta
On May 6, Intercam Banco’s new mortgage product was launched and a new experience called One-Stop Banking, which includes: Escrow Accounts, Trusts, Payments, Currencies, Investments and its exclusive Dream Loan, a product aimed at the international community and specialized in meeting the needs of Americans and Canadians alike to acquire a house in Mexico.
The event took place at the Mozzamare Casual Beach Club, in Nuevo Vallarta. Among the attendees were high Intercam Banco executives, including: Mr. Eduardo García Lecuona, CEO of Intercam Grupo Financiero, Rubén de la Mora, CEO of Intercam Banco, Jason Lavender, Director of the Puerto Vallarta Branch and Arnulfo Cordero, Mortgage Director, all who, with great pride, gave the presentation and were happy to share the Dream Loan with foreigners in Mexico who have one goal in mind: to acquire the house of their dreams.
At this incredible event we had the opportunity to talk with Mr. Eduardo García Lecuona, who gave us a «behind the scenes tour» of what Intercam is, the services it offers, its differentiator in the market and, of course, what Dream Loan is and how it works.
To the express question of “What is Intercam?”, Mr. Lecuona tells us that Intercam is a financial institution that manages Bank, Brokerage House, Fund Operator, Insurance and Bonds, Trusts and a wide range of financial products with the commitment to offer solutions according to the needs of each client, whether they are individuals, companies and/or entrepreneurs, especially foreigners. For more than 30 years they have specialized in three things; one, to be the bank of foreign trade in Mexico, since they have exporting and importing companies, including tourism suppliers; two, in being the bank for foreigners in Mexico, and; three, to be the asset managers of people who want to invest in Mexico or in other markets.
Mr. Lecuona pointed out that Intercam is totally different from other financial institutions: «We are a bank that is very well known for being different. We address our clients by their first name, we speak with them in their native tongue and give them exactly what they need. We are not a bank that has a product and sells it to the client. We are a bank that asks its clients what they need and makes a tailor-made product for each and every one of them.»
An example of this is that, for foreigners, whether American or Canadian, who know Mexico and decide to settle down here, they are offered an «Escrow Account», a Restricted Area Trust, according to their needs and, now, they are offered a credit so that they can buy their property here in Mexico. They also handle their investments, manage their expenses and can open a checking account that they can access from anywhere in the world. Domestic companies are supported with the management of their treasury, Foreign Exchange Sales, Forwards and Derivatives, Investments, Credits, Checking Account, Insurance and Bonds, Trusts, among others. Its clients are provided with a complete service. The goal is for the client to find all the services in one place, like what the Americans would call a «one-stop shop».
The launch of the Dream Loan is cause for celebration because before, Intercam, in terms of loans, was a bank only for companies, that is, they did not grant loans to individuals. But since last year they decided to make a special loan for foreigners who want to buy in Mexico. But how does the Dream Loan work? In the words of Mr. Eduardo, the premise of the Dream Loan is: «At Intercam we are going to help you acquire the house of your dreams in Mexico». García Lecuona says that foreigners are used to buying their long-term assets with a loan, but in Mexico there is a peculiar situation, since Mexican banks do not know how to lend foreigners and foreign banks, which do know how to lend their compatriots, they do not know how to get the guarantee in Mexico.
Since Intercam is a multinational bank, it is now possible to lend a foreigner with a guarantee in Mexico. So, basically, the foreigner chooses the property, approaches Intercam Banco, either at a branch or through its website, applies and the bank qualifies according to the rules of his or her country, through the American or Canadian credit score system to see if the person is subject to credit, and according to these rules and the credit experience in his or her country, Intercam makes the loan here with the property in Mexico as the guarantee. It is very important to note that Intercam is the only bank in Mexico that does this.
The Dream Loan will allow the foreign community to fulfill its dreams of living on the wonderful beaches of Puerto Vallarta and Nayarit. At Intercam, the main goal is to adapt to the new needs of its clients, which are arising from the change in the context in which we live, listen to what their preferences are and help them live their dreams through all the financial products that it offers and is constantly creating.
The event met all expectations and was a success as it brought together more than 170 attendees, who enjoyed a wonderful sunset during a truly spectacular presentation.
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