Banks in Mexico shall reimburse unrecognized charges in two days

Mexican banking institutions that receive cardholders’ notification of unrecognized charges will be required to make a reimbursement to the user’s account, no later than the second bank business day.

According to the National Commission for the Protection and Defense of Users of Financial Services (Comisión Nacional para la Protección y Defensa de los Usuarios de Servicios Financieros: Condusef), the user must notify of the unrecognized charge within 48 hours of being made, so that the refund proceeds.

Banking and financial institutions recommend users to download the bank’s web app, and activate the alerts on their cell phones, so they can report any irregularity on time.

The provision was published in the Official Gazette of the Federation (Diario Oficial de la Federación) and will come into force in 2019.

TMP Newsroom

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