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1h ago

Mexico’s Banks Activate User-Set Transfer Limits Ahead of Oct. 1 MTU Rule

The user-set cap adds a security check on higher-value transfers to curb rising digital fraud.

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Overview

  • By Oct. 1, banks must enable MTU in their apps, and if users do not set a limit a default of 1,500 UDIS (about 12,800 pesos) will apply, with over-limit transactions blocked or requiring a second factor of authentication.
  • Banamex users report difficulty locating the feature, with the bank saying configuration will open on Oct. 1, while institutions such as BBVA, Banorte, Santander, HSBC and Scotiabank have already published in‑app prompts and guides.
  • Fintechs and many sofipos, including Mercado Pago (IFPE) and Nu, are not currently obliged to implement MTU unless they obtain and operate under a full banking license.
  • Banco del Bienestar customers do not need to set an MTU because its mobile app does not allow transfers, which must be conducted at branch windows.
  • Banco Dondé informed clients it will apply MTU with contract changes effective Oct. 20 and offered a 30‑day penalty‑free cancellation option, and banks may be liable to reimburse unauthorized transfers if required checks are skipped.