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2h ago

Mexico’s Banks to Activate User-Set Transfer Caps on Oct. 1 Under CNBV Rule

Users who do not set their own cap will be assigned a default limit of about 12,800 pesos per transfer.

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Overview

  • Banks must enable the MTU feature in mobile and online banking by October 1, with customers encouraged to configure their settings by September 30.
  • The MTU allows each customer to define per-operation, daily, weekly or monthly limits, including separate caps for transfers to new accounts or to other banks.
  • If a user does not configure MTU, the bank will apply a default of 1,500 UDIS (approximately 12,800 pesos) per operation with no monetary fine, and larger transfers may be blocked or require extra verification.
  • The limits apply across common electronic operations such as SPEI, CoDi, service payments and credit card payments conducted online or through apps.
  • Banks are notifying customers and sharing setup guides, with Banamex instructing users to set limits in its app or BancaNet to prevent disruptions to payroll and supplier payments.