Regulatory Alerts2011-06-20 | Circular 15/2011Added
Circular 15/2011 — Modifies Circular 2019/95
The Bank of Mexico amends section M.12.7 of Circular 2019/95 to update regulations for foreign currency prepaid bank cards, allowing institutions to determine card physical characteristics, maximum balances, and commercial names while requiring clear display of expiration dates, issuer branding, and authorized user names on the card front. The amendment permits the use of CLABE or 16-digit card identification numbers for electronic fund transfers to these cards and prohibits their use for electronic fund transfers. These changes take effect on August 15, 2011, with cards activated prior to that date remaining valid until their expiration under the previous regime.