Regulatory Alerts2018-09-10 | Circular 12/2018Added
Circular 12/2018 — Operations of Electronic Payment Fund Institutions
The Bank of Mexico establishes general provisions governing the operations of Electronic Payment Fund Institutions, including the issuance, administration, transmission, and redemption of electronic payment funds. The document defines key terms, sets limits on overdraft credits, regulates non-monetary benefits, and mandates specific authorization procedures for foreign currency operations and the use of virtual assets. It also outlines client account requirements, contract terms, and procedures for account closure and fund redemption.