Credit card statements will be unified for a better understanding of users

This Friday, the Provision on Records before the National Commission for the Protection and Defense of Users of Financial Services was published in the Official Gazette of the Federation (Condusef) and establishes that for the benefit of users, account statements associated with credit cards will be standardized for better compression, as well as to clearly delimit the elements that the user has to take into consideration for the best management of their credit. simple way.

“The foregoing will result in users of Credit cards have clear information so that it facilitates the understanding of their account statement and a more efficient administration of their credit”.

In the document published today in the Official Gazette of the Federation, Article 102, states that “Financial Entities are prohibited from charging Commissions for amounts greater than those registered in the Single Registry Portal (PUR), as well as registering Commissions for the following concepts:

I. Due to late payment of a credit, non-payment or any other equivalent concept, when default interest is charged during the same period; in such case, it must be specified in the respective contract, when the default interest is charged and when the respective Commission;

II. For not using the credit card during a calendar year if during the same period an annuity commission or some other equivalent concept is charged;

III. For the procedures that the Financial Entities carry out so that the mortgage can be canceled before the Public Registry of Property, with the exception of taxes or payment of rights, when appropriate, as well as for the registration of the pledges or guarantees before Notary Public or Notary Public;

IV. Commissions whose amount is determined using one of several operations or calculation formulas in relation to credits, unless the Commission charged is the lowest;

V. Due to the cancellation of one or several credit cards issued under a credit opening contract or, where appropriate, due to the rescission of the corresponding revolving credit opening contract;

SAW. For the receipt of the total or partial periodic payment of credits granted by the same Financial Entity, at the windows of its branches, through its ATMs, electronic fund transfers, or by direct debit, except those charged by other entities, institutions of credit or companies with which they have entered into contracts for the receipt of said payments;

VII. For non-compliance with the periodic payment of a credit, unless the Commission does not exceed the amount that is less than:

a) The amount of said breach; Y

b) The amount that the credit institution determines and registers with the Condusef.

VII. Due to late payment, non-payment or any other equivalent concept, when for reasons attributable to the Financial Entity it has not accredited the payment of any credit in terms of the provisions of Circular 22/2008 issued by the Bank of Mexico, its modifications or the one that replaces it, which establishes the dates on which payments must be accredited depending on the means used to make them;

IX. Due to overdraft or attempted overdraft in credits, loans or revolving financing associated with a card, as well as in personal liquidity credits without collateral;

X. For fund transfer operations and domiciliation by a Financial Entity other than the originator of the operation;

XI. In the case of refunds of funds transfers and direct debits, the Commission may not exceed the amount that, if applicable, has been charged to the User for its issuance;

XII. For the cancellation of the direct debit of the payment of goods and services;

XIII. For cash withdrawals and balance inquiries at its offices or branches, as well as for balance inquiries at the teller window;

XIV. For receiving and paying resources in the deposit accounts of its Users, through the windows of its branches and the ATMs of the Financial Entities themselves;

XV. For the return, for any reason, of checks that they have received as a means of payment of any credit of which they are creditors;

XVI. In no case may commissions be charged to a client, for having deposited in his account, checks that are returned for any reason;

XVII. In the case of fund transfer orders, the Financial Entities may not charge differentiated commissions based on the amount of the transfers requested by their clients;

XVIII. Financial Entities may not charge more than one Commission for the same act, fact or event generating the charge. This same principle will apply when so determined by the CONDUSEF in the case of acts, facts or events in which more than one Financial Entity is involved;

XIX. That inhibit the mobility, migration or portability of Users from one Financial Entity to another; Y

XX. Financial Entities may not charge Commissions that are not directly linked to a product or service provided to the User, or to an operation that the latter has carried out.

On October 17, “the Provision on Registries” will come into force before the National Commission for the Protection and Defense of Users of Financial Services (Condusef), and whose application will be gradual, according to a statement from the institution.

Here is the full layout:

https://www.dof.gob.mx/nota_detail.php?code=5668453&fecha=14/10/2022#gsc.tab=0

patricia.ortega@eleconomista.mx