Regulatory Alerts2014-10-03 | Circular 15/2014Added
Circular 15/2014 — Modifications to Circular 3/2012 Regarding ATM Agreements
The Bank of Mexico amends Circular 3/2012 to require credit institutions and the Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal y Pesquero to obtain prior authorization for agreements allowing customers to use other institutions' ATMs with fee exemptions or reductions. The amended Articles 84 and 85 mandate that such agreements include specific details on parties, processes, tariffs, commissions, adherence clauses, and termination causes, with the Bank of Mexico issuing a decision within thirty banking days. The circular enters into force the banking day following its publication, allowing previously authorized third-party ATM network services to continue operating under existing transparency principles.
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