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4h ago

Mexico’s Banks Ready MTU Transfer Caps as Oct. 1 Deadline Nears

Regulators aim to curb digital fraud by forcing banks to add user‑set transfer limits that require extra authentication for higher‑value operations.

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Overview

  • Most major banks have enabled MTU configuration in their apps ahead of Oct. 1, with a default of 1,500 UDIS (about 12,800 pesos, variable) applied if customers do not set a limit.
  • Operations that exceed a customer’s MTU must trigger an additional factor of authentication before completion, and some transactions may be blocked until verified.
  • Citibanamex customers report not finding the option yet; the bank says MTU setup for individuals will be available starting Oct. 1 within its app.
  • The measure covers bank transfers such as SPEI, CoDi and Dimo but excludes Nivel 1 accounts; fintechs like Mercado Pago and Nu are not required to adopt it now, and Banco del Bienestar’s app remains outside the scope because it does not allow transfers.
  • Banks must have MTU infrastructure in place by Oct. 1 and ensure limits are determined for existing accounts by Jan. 1, 2026, with potential sanctions for noncompliant institutions and no fines for users who leave the default in place.