Circular 15/2018 — Modifications to Circular 3/2012 (Use of Labor Benefits as Collateral for Financial Services Contracted by Workers)

70 (First Section) OFFICIAL GAZETTE Monday, October 29, 2018 BANCO DE MEXICO CIRCULAR 15/2018 addressed to Credit Institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development, regarding the Modifications to Circular 3/2012 (Use of Labor Benefits as Collateral for Financial Services Contracted by Workers).

At the margin, a logo stating: Banco de México.

CIRCULAR 15/2018 TO CREDIT INSTITUTIONS AND THE NATIONAL FINANCIAL INSTITUTION FOR AGRICULTURAL, RURAL, FORESTRY AND FISHERIES DEVELOPMENT:

SUBJECT: MODIFICATIONS TO CIRCULAR 3/2012 (USE OF LABOR BENEFITS AS COLLATERAL FOR FINANCIAL SERVICES CONTRACTED BY WORKERS)

The Bank of Mexico, with the purpose of continuing to promote the sound development and stability of the financial system, as well as to foster the proper functioning of payment systems and the protection of the public's interests, considers it necessary to establish the basis for having a regulatory framework that promotes an open architecture in the provision of financial services associated with resources derived from payroll payments, by disaggregating the services of payroll dispersion, payroll accounts, and payroll credits.

In this regard, the Bank of Mexico considers it convenient to provide greater flexibility to users of financial services associated with payroll, by establishing a clear mechanism that allows them to use that source of payment for credits that any institution is interested in offering, regardless of which institution holds the payroll deposit account.

Likewise, in order to maintain adequate quality in the credit portfolio when the payroll dispersion service offered by institutions migrates from one intermediary to another, it is appropriate to reinforce incentives for the payment of this type of credit by limiting the use of new payroll accounts as collateral for new credits to those clients who, having incurred credit obligations associated with payroll previously, determine not to continue paying them by virtue of said migration.

Finally, in order to foster efficiency in payroll portability services, it is deemed necessary to establish a series of measures aimed at ensuring that the procedures for their execution are compatible with new technologies without neglecting the protection of workers' resources.

Therefore, based on Articles 28, paragraphs sixth and seventh, of the Political Constitution of the United Mexican States, 24 and 26, of the Bank of Mexico Law, 48 of the Credit Institutions Law, 4, first paragraph, 8, paragraphs fourth and seventh, 10, first paragraph, 12, first paragraph, in relation to 20, fraction XI, 14 Bis, first paragraph, in relation to 17, fraction I, and 14 Bis 1, first paragraph, in relation to 25 Bis 1, fraction IV, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Directorate of Operations and Payment Systems, the General Legal Directorate, and the General Directorate of Financial System Affairs, respectively, as well as Second, fractions I, VI and X, of the Agreement on the Affiliation of the Administrative Units of the Bank of Mexico, it has resolved to modify the definitions of "Ordering Account," "Receiving Account," "Direct Debit," "Employer," and "Labor Benefit" of Article 2, Articles 64, 67, 68, 69, 75, 76, 76 bis, 77, 80 and 81, as well as Annexes 1, 2 and 4, and to add the definition of "Payroll-Linked Credit" to Article 2, Articles 22 Bis, 22 Bis 1, 63 Bis, 63 Bis 1, 63 Bis 2, 63 Bis 3, 78 Bis and 81 Bis 1, to the "Provisions applicable to the operations of credit institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development," contained in Circular 3/2012, to remain in the following terms:

PROVISIONS APPLICABLE TO THE OPERATIONS OF CREDIT INSTITUTIONS AND OF THE NATIONAL FINANCIAL INSTITUTION FOR AGRICULTURAL, RURAL, FORESTRY AND FISHERIES DEVELOPMENT

INDEX ... SECOND TITLE OPERATIONS WITH THE PUBLIC CHAPTER I PASSIVE OPERATIONS Section I Passive operations in national currency ... Section B Demand Deposits ... Article 22 Bis.- Identification of Ordering Accounts Article 22 Bis 1.- Characteristics of Ordering Accounts ... CHAPTER II ACTIVE OPERATIONS ... Article 63 Bis.- Characteristics of Payroll-Linked Credit Article 63 Bis 1.- Management of Payroll-Linked Credit before the Depositary Institution of the Ordering Account Article 63 Bis 2.- Additional Circumstances for the Maturity and Modification of Payroll-Linked Credit Article 63 Bis 3.- Communication Mechanism between Institutions CHAPTER III SERVICES ... Section II Transfer of salaries, pensions and other labor-related benefits ... Article 78 Bis.- Cancellation of the transfer service ... Article 80. Transfers from Ordering Accounts subject to Direct Debits ... Article 81 Bis 1.- Interbank Payroll Services ... Definitions Article 2.- For brevity, in singular or plural, in these Provisions the following shall be understood as: ... "Payroll-Linked Credit: a simple or revolving credit or loan in money, with or without real guarantee, that an Institution grants to an individual who, in turn, is the holder of an Ordering Account in that same or another Institution, regarding which said parties in the credit or loan have agreed that the payments of the corresponding debts shall be made by charging the respective amounts in the referred Ordering Account, in terms of the respective Direct Debit, by the Institution holding the latter, on the dates when such payments are due and in accordance with the order of precedence that corresponds in accordance with these Provisions. ... Ordering Account: a demand deposit account, including the basic payroll account referred to in the general provisions issued by the Bank of Mexico in accordance with Article 48 Bis 2 of the Credit Institutions Law, opened at an Institution in the name of an individual, in which, among others, credits for Labor Benefits can be made, as part of a Payroll Service or through fund transfers or electronic fund transfers executed by the respective Employer. Receiving Account: a demand deposit account opened at an Institution in the name of the same holder of an Ordering Account opened at another Institution, to which, among others, resources corresponding to Labor Benefits that have been previously deposited in the Ordering Account can be transferred. ... Direct Debit: the express acceptance by the account holder to have recurring charges made to their Account, related to the payment of goods or services, including the obligations corresponding to credits or loans owed by said holder that are granted by the same Institution or a third party. ... Employer: the person who makes the credits for Labor Benefits in the respective Ordering Accounts, as part of a Payroll Service contracted by them or, through fund transfers or the making of electronic fund transfers derived from transfer orders executed by that person. ... Labor Benefits: the resources related to salaries, pensions and other labor-related benefits that are credited to the respective Ordering Accounts." ... "Identification of Ordering Accounts Article 22 Bis.- The Institution that administers Accounts in the name of individuals shall identify as Ordering Accounts those that meet the following characteristics: I. Accounts in which the Institution must make the credits for Labor Benefits subject to the Payroll Service that that Institution provides to the respective Employer. II. Basic payroll accounts referred to in the general provisions issued by the Bank of Mexico in accordance with Article 48 Bis 2 of the Credit Institutions Law. III. Accounts opened directly by the respective holders, which indicate to the Institution that credits for Labor Benefits will be made in them through transfers of such resources from other Demand Deposit Accounts held by the same Institution in the name of third parties or electronic fund transfers executed by third parties, who have been identified by said account holders as their Employers. For the purposes of the provision in this fraction, the Institution referred to in the first paragraph of this article shall allow account holders to indicate to it that credits for Labor Benefits will be made in them. In this case, in order for the Institution in question to identify the corresponding Employer, it shall require the account holder, at the time of indicating the aforementioned, to present any of the following documents: a) payroll receipts; b) a copy of their employment contract, or c) a letter issued in the name of the Employer stating that the account holder is a worker of this. In order for the Institution to determine, among the credits made in the Accounts provided for in this fraction, those corresponding to Labor Benefits, the Institution itself shall identify, by the corresponding amounts, those recurring credits from the Employers identified in accordance with the previous paragraph, based on the tracking keys of the respective electronic fund transfers or the numbers or CLABE of the source accounts of the corresponding transfers or fund transfers."

"Characteristics of Ordering Accounts Article 22 Bis 1.- The Demand Deposit located in the case of an Ordering Account shall meet the following characteristics: I. By virtue of said Deposit, the depositary Institution shall offer the account holder the right to designate, individually, Payroll-Linked Credits that they contract with that Institution or any other, in order for the resources deposited in the Ordering Account to be used to cover the respective payment obligations, through charges made directly by the Institution. For these purposes, the Institution shall observe the following: a) The account holder's right to designate the aforementioned Payroll-Linked Credits, as well as the obligations, rights and conditions deriving from said designation in accordance with what is established in these Provisions, shall be expressly stipulated in the corresponding contract for the Ordering Account at the time of its celebration or through subsequent modifications carried out for these purposes. With respect to Payroll-Linked Credits, regardless of whether these are granted to the account holder by the same Institution holding the Ordering Account or by a different Institution, the designation referred to in this fraction may only be made through the Direct Debit request presented in terms of Article 64 of these Provisions. b) The Institution shall be obligated to make charges in the Ordering Account for the purposes referred to in this fraction, provided that the sum of the charges it would have to make in the respective Account, to cover the payments of the debts corresponding to all Payroll-Linked Credits, during the month immediately following that in which said Institution receives the account holder's request to designate the Payroll-Linked Credit in question, is not higher than the limit of forty percent of the average monthly amount of the credits of resources corresponding to Labor Benefits made in the referred Account. The Institution shall observe the foregoing in this subsection regardless of whether, subsequently to the designation of the corresponding Payroll-Linked Credits in accordance with these Provisions, the percentage of the aforementioned charges exceeds the indicated limit, either due to the decrease in the amount of resources credited to the Ordering Account or due to some subsequent increase in the amount of the debts corresponding to said Payroll-Linked Credits, in accordance with the applicable stipulations. Additionally, with respect to revolving credits that are designated as Payroll-Linked Credits in accordance with what is provided in this article, the charges in the Ordering Account to make the payments of the respective debts, for each revolving credit, shall not be higher than ten percent of the average monthly amount of the credits of resources corresponding to deposits of Labor Benefits made in the referred Account, provided that said charges, added to those other referred to the other Payroll-Linked Credits that have been designated with such character, do not exceed, as a whole, the limit of forty percent indicated in the previous paragraph. For the calculation of the average monthly amounts referred to in this subsection, the credits of resources corresponding to Labor Benefits made in the twelve consecutive months prior to that in which the account holder requests to designate the Payroll-Linked Credit in question shall be taken into account, or, in case that the period between the opening of the Ordering Account and the presentation of the referred request is shorter, the number of months corresponding to said period shall be taken into account, which shall not be less than three months. For the purposes of the provision in the present subsection, in case that another Institution, in accordance with what is stated by Article 63 Bis, fraction I, of these Provisions, declares to the Institution holding the Ordering Account having offered the account holder a credit or loan susceptible to being designated as a Payroll-Linked Credit and, by virtue thereof, requests this latter Institution to report if the charges that should be made in the Ordering Account to cover the payments of the debts corresponding to the Payroll-Linked Credit that result, added to those other charges corresponding, if any, to the other Payroll-Linked Credits, are equivalent to a percentage that does not exceed the limit of forty percent indicated, as well as, in the case of revolving credits, the amount equivalent to ten percent, previously indicated in this subsection or, if applicable, the amount lower than said percentage that corresponds so as not to exceed the referred aggregate limit of forty percent, the Institution holding the Ordering Account, in compliance with the mandate of the account holder referred to in fraction II of this article, shall communicate to that other Institution, by means of the mechanism provided in Article 63 Bis 3 of these Provisions, no later than the next Banking Business Day, if the charges subject to the request exceed or do not exceed the referred limit of forty percent, as well as the amount corresponding to the limit of ten percent or the lower percentage that, if applicable, should be applied. In case that the sum of the charges referred to in the previous paragraph is equivalent to a percentage that does not exceed the aforementioned forty percent and that, with respect to revolving credits, the respective charges do not exceed the limit of ten percent applicable to said credits in accordance with what was previously indicated, the Institution holding the Ordering Account shall include, within a period of five Banking Business Days subsequent to that in which said Institution has communicated to that other Institution the situation referred to in that same paragraph, without having received the Direct Debit request provided for in the second paragraph of subsection a) above, the amounts corresponding to the charges for the payments of said credits or loans subject to the information request referred to in said paragraph, in the calculation of the percentage that results from all those other additional charges that correspond to credits or loans susceptible to being designated as a Payroll-Linked Credit that are offered to the account holder by that Institution or any other in that period. In the event that the Institution holding the Ordering Account does not receive the Direct Debit request within the five Banking Business Days period referred to in this subsection, it shall consider the indicated information request terminated, therefore it shall cease to include, for the calculation of the percentage indicated in this same subsection, the amounts corresponding to the charges that would have to be made in accordance with what was informed in said request. c) In case that the holder of the Ordering Account has designated two or more Payroll-Linked Credits in accordance with this article, the Institution authorized to make charges in the Ordering Account shall apply the respective resources to the payments corresponding to said Payroll-Linked Credits, in the same order of precedence in accordance with the dates of designation of each of the Payroll-Linked Credits, regardless of the dates on which these were celebrated. For the purposes of the provision in the previous paragraph, the Institution shall immobilize from the Ordering Account, on the same date of its credit, the amounts that must be charged to said account solely to apply them to the payment of the Payroll-Linked Credits on the dates that correspond in accordance with the order of precedence mentioned in the previous paragraph. Consequently, the Institution shall refrain from making available to the account holder or third party authorized to do so, in any other way, those resources immobilized in accordance with what is provided in this subsection. d) The Institution shall not make periodic charges to the Ordering Account to cover, with the resources deposited therein, the payments corresponding to: i) Late interest and other penalties that the account holder owes, if applicable, for non-compliance in the payment of the Payroll-Linked Credit in question, with respect to which the Institution gives the charges to cover these amounts the same precedence as that corresponding to the charges for the payment of the ordinary debts referred to said Payroll-Linked Credit. In any case, the Institution shall adjust itself to what is provided in subsection b) of this article solely with respect to the charges to cover the ordinary debts corresponding to the Payroll-Linked Credits, and

ii) Any credit or loan other than a Payroll-Linked Credit that the Institution has granted to the respective account holder, with respect to which the Institution assigns a higher priority to the resources for the payment of said credit or loan than to those Payroll-Linked Credits that, if applicable, the latter has designated in accordance with the aforementioned subsection I.

e) The Institution shall make charges in the Authorizing Account in the following order of priority:

i) First, the Institution shall charge the amounts corresponding to Payroll-Linked Credits, in the order corresponding in accordance with the designation dates of each of them with that status. For the purposes of determining the priority among Payroll-Linked Credits, the Institution must observe the aforementioned designation date of each of them, and

ii) Second, the Institution shall charge the amounts corresponding to the Direct Debit requested by the account holder for payments of goods and services, including the obligations corresponding to other credits and loans other than Payroll-Linked Credits, as well as for payments of debts corresponding to Payroll-Linked Credits for amounts exceeding the limit of forty or ten percent, as applicable, provided for in subsection b) of the aforementioned subsection I.

The Institution shall make charges in the respective Accounts, in accordance with the provisions of this article, without prejudice to any other charges it is obligated to make, in accordance with the priority, if applicable, corresponding under the applicable legal provisions.

f) In the event that the Institution opens an Authorizing Account with respect to which it has been made aware, in accordance with the provisions of this article, through the mechanism referred to in Article 63 Bis 3 of these Provisions, that some Payroll-Linked Credit granted by another Institution prior to the opening of said Account has been designated, the aforementioned Institution that holds the new Authorizing Account must refrain from making charges in this to cover payments corresponding to a new Payroll-Linked Credit that it grants to said account holder subsequent to the opening of that new Authorizing Account, unless the new Payroll-Linked Credit that it grants has a lower priority than that corresponding to that other Payroll-Linked Credit granted previously.

Likewise, in the case referred to in this subsection, the Institution that opens the new Authorizing Account may grant the account holder a Payroll-Linked Credit, solely for the purpose of being used to settle that other Payroll-Linked Credit. In this case, the new Payroll-Linked Credit granted by the Institution holding the Authorizing Account will have the same priority as that other Payroll-Linked Credit that was settled with the respective resources.

g) In the event that the Institution that has made charges to the Authorizing Account, in accordance with the Direct Debit indicated in subsection I, subsection a), of this article, to cover payments of a Payroll-Linked Credit granted by another Institution, receives a request for cancellation of said Direct Debit, as well as the notification provided for in Article 63 Bis 2, subsection II, of these Provisions, the aforementioned Institution holding the Authorizing Account must refrain from entering into a new Payroll-Linked Credit with the account holder or accepting the Direct Debit of any other credit or loan offered with the intention of being designated as a Payroll-Linked Credit granted by some other Institution, for a period of nine calendar months counted from the one in which it receives the request for cancellation of the aforementioned Direct Debit. The Institution must observe the provisions of this subsection without prejudice to the obligation to report the aforementioned cancellation to a credit information society, in accordance with the applicable provisions.

II. Additionally, the Institution that opens any of the Authorizing Accounts referred to in Article 22 Bis of these Provisions must obtain from the account holder, as a condition for opening said Account or for considering it an Authorizing Account, a mandate that has as its object that said Institution provides, in accordance with the mechanism referred to in Article 63 Bis 3 of these

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Provisions, the following information, solely for the purpose of it being made known exclusively, in accordance with what is established to that effect in these Provisions, to:

a) That other Institution that, through the mechanism referred to in Article 63 Bis 3 of these Provisions, has indicated having previously opened an Authorizing Account for the same account holder, with respect to which he has designated Payroll-Linked Credits in accordance with the provisions of the previous subsection I and deposits of Labor Benefits have ceased to be made, and

b) Those other Institutions that, through the mechanism referred to in Article 63 Bis 3 of these Provisions, have indicated having granted Payroll-Linked Credits designated with such status with respect to that other Authorizing Account opened previously:

i) Corporate name of the Institution receiving the mandate referred to in this subsection;

ii) Number and CLABE of the Authorizing Account that said Institution has opened, and

iii) Full name, paternal and maternal surnames, and date of birth of the respective account holder, as well as type and number of identification document that he has presented to open the aforementioned Authorizing Account and the Federal Taxpayer Registry key (with homoclave), as well as the Unique Population Registry Key (CURP), in case the Institution has the latter key.

The Institution indicated in the first paragraph of the present subsection II must make known through the mechanism referred to in Article 63 Bis 3 of these Provisions the information referred to in this same subsection at the time of the opening of the respective Account.

The mandate provided for in this present subsection II shall have as its object that the mandated Institution makes known, in addition to the information indicated in this same subsection, that other information referred to in subsection I, subsection b), of this same article solely for the effects indicated in this.”

“Characteristics of the Payroll-Linked Credit

Article 63 Bis.- In order for the holder of an Authorizing Account to designate a credit or loan as a Payroll-Linked Credit, the Institution granting it must subject it to the following characteristics, among other applicable circumstances that it agrees with its client:

I. In the event that the credit or loan that said Institution offers with the intention that it be designated as a Payroll-Linked Credit in an Authorizing Account opened in another Institution, prior to concluding said credit or loan, that Institution consults that other Institution holding the Authorizing Account, through the mechanism referred to in Article 63 Bis 3 of these Provisions, whether the charges it would make in this to cover the respective payments, added to those other charges that, if applicable, must be made with respect to other Payroll-Linked Credits, exceed the limit of forty percent indicated in Article 22 Bis 1, subsection I, subsection b), of these Provisions, as well as, in the case of a revolving credit, whether the charges in the Authorizing Account to make the payments of the respective debts are higher than the limit of ten percent indicated in that same subsection, and

II. The respective borrower or grantee grants, in turn, at the time of concluding the aforementioned Payroll-Linked Credit, a mandate to the creditor Institution so that this manages, on behalf and for the account of said borrower or grantee, with that other Institution that holds an Authorizing Account opened in the name of the latter in which, subsequent to said conclusion, his Labor Benefits are deposited or transferred periodically, a Direct Debit to make the payments of the debts corresponding to said Payroll-Linked Credit.

The Institution that offers any of the credits or loans referred to in the first paragraph of this article to any person is obligated to present to him the conditions of the corresponding credit or loan that correspond to a Payroll-Linked Credit compared with the conditions of a similar credit or loan that is not designated as a Payroll-Linked Credit.

The Institution must observe the provisions of this article without prejudice to the obligation to report to a credit information society, in accordance with the applicable provisions, that the referred credit or loan has the status of Payroll-Linked Credit.”

“Management of the Payroll-Linked Credit before the Institution depositing the Authorizing Account

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Article 63 Bis 1.- In the circumstances referred to in Article 63 Bis of these Provisions, the Institution offering the credit or loan susceptible to being designated as a Payroll-Linked Credit must manage, before that other Institution holding the Authorizing Account, the Direct Debit indicated in the previous article by presenting the request referred to in Article 64 of these Provisions. In this regard, the Institution managing the Direct Debit will assume the status of Provider and Provider’s Bank for the purposes of what is provided in Title Two, Chapter III, Section I, of these Provisions and must indicate, in the aforementioned request, the amounts of the charges subject to the Direct Debit and the days of the month and the term in which they must be made, as well as include the following legend in the signature field corresponding:

“[Full name, paternal and maternal surname of the borrower or grantee], through [Corporate name of the Institution], who signs this request, on behalf and for the account of the applicant, by virtue of the mandate conferred by the latter to carry out the Direct Debit subject of this request.

As part of the mandate that the Institution obtains to carry out the Direct Debit referred to in this article, the respective borrower or grantee must grant his authorization so that said Institution requests and obtains, through the mechanism referred to in Article 63 Bis 3 of these Provisions, information on the Authorizing Accounts that the borrower or grantee has opened in other Institutions.

The Institution referred to in the previous paragraph may only use the information referred to in said paragraph to identify that other Institution before which it could manage the corresponding Direct Debit, so it must refrain from using that information for any other purpose.

In the event that, by virtue of advance payments or for any other cause, the amount or number of payments that the debtor of the Payroll-Linked Credit must make is reduced, the creditor Institution must modify the terms of the Direct Debit in accordance with what is established in Title Two, Chapter III, Section I, of these Provisions, in order for the charges made as part of said Direct Debit to correspond to the adjusted payments in accordance with the foregoing.”

“Additional circumstances for the maturity and modification of the Payroll-Linked Credit

Article 63 Bis 2.- The Institution granting a Payroll-Linked Credit may stipulate in the corresponding contract that, in the event that the borrower or grantee revokes the mandate referred to in Article 63 Bis, subsection II, of these Provisions or requests the cancellation of the Direct Debit referred to in the same article prior to the maturity of the Payroll-Linked Credit, the Institution may, at its option, rescind the Payroll-Linked Credit or increase the interest rate. In the latter case, the resulting interest rate must be expressly provided for in the aforementioned contract.

In the circumstance provided for in this article, the Institution must notify:

I. To the borrower or grantee the rescission or modification of the corresponding interest rate with, at least, thirty Days in advance to this occurring, and

II. To the Institution holding the Authorizing Account subject to the cancelled Direct Debit, the fact that said cancellation was made prior to the maturity of the respective Payroll-Linked Credit.

In the event that the request for cancellation of the Direct Debit referred to in this article is presented to the Institution holding the Authorizing Account, it must notify said request to the Institution granting the Payroll-Linked Credit, through the mechanism provided for in Article 63 Bis 3 following, no later than three Banking Business Days immediately subsequent to the Day on which it has received the indicated request.”

“Communication Mechanism between Institutions

Article 63 Bis 3.- Institutions may carry out the consultations and provide the information referred to in Articles 22 Bis 1, 63 Bis and 63 Bis 2 of these Provisions, solely through the transparent mechanisms that they establish among themselves in such a way that they do not restrict or prevent the participation of Institutions on equal terms, whose terms and conditions must be made known to the Management of Authorizations, Consultations and Legal Control of the Bank of Mexico, prior to their implementation.”

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Contracting Requests

“Article 64.- The Institution that has opened any Account in it may only make charges in this, for the payment of goods and services, including obligations corresponding to credits and loans concluded with the same Institution or with any other Provider, including some other Institution, through the Direct Debit executed in accordance with what is provided for in this Chapter. In this regard, the Institution administering some Account must attend to the requests for the execution of the Direct Debit in terms of Articles 70 to 74 following and through the use of the format established in Annex 1 of these Provisions, which is presented to it by the holder of said Account, directly or through the Provider’s Bank.

The Provider’s Bank must agree with the respective Provider that when the latter receives the aforementioned request, it must collect, at least, the information indicated in the cited Annex 1. In the event that an Institution is the one that has granted the credit or loan subject of the requested Direct Debit, in accordance with the present Chapter, said Institution must directly collect the information referred to in this paragraph.”

Objection to Charges

“Article 67.- The Customer’s Bank must attend to the notifications of objection that are presented to it for unrecognized charges derived from Direct Debits through the use of the format established in Annex 3 of these Provisions.

The notifications of objection may be presented within a term of ninety Days counted from the last Day of the statement period in which the charge subject of the objection appears.

For the purposes of what is provided for in the previous paragraph, the Customer’s Bank must allow the holder of the Account to present to him the notification of objection that corresponds in any of the following forms, at the choice of the latter:

I. Personally, in any of the branches of the Customer’s Bank or by communication given through the customer service channels that the Customer’s Bank itself has enabled to attend to matters related to the Accounts subject of the Direct Debit, or

II. Through electronic channels or any other means of communication that, for this effect, the Customer’s Bank has agreed with the holder of the Account.

The Customer’s Bank in no case may require the holder of the Account to carry out additional procedure to the presentation of the objection referred to in this article.

The Customer’s Bank that receives any of the aforementioned objections must provide to the holder of the Account, at the choice of the latter, in writing or by electronic or telecommunications means, at least a reference number of the receipt of the objection, the date and time at which it was received. The Customer’s Bank must deliver to the holder of the Account the information referred to at the moment when he has presented the notification of objection corresponding in the manner referred to in subsection I above, or within twenty-four hours subsequent to when he has presented the notification of any of the manners provided for in subsection II. The Customer’s Bank must conserve evidence of the information that the holder of the Account has provided in terms of this article.

Institutions must inform the holders of the Accounts, in the Deposit contracts corresponding to the Authorizing Accounts, the means by which they may present the aforementioned objections.”

Procedence of the Objection to Charges

“Article 68.- When the holder of the Account objects to some charge derived from the Direct Debit service during the first sixty Days of the term indicated in the previous article, the Customer’s Bank must credit the amount claimed no later than the next Banking Business Day after the receipt of the notification of objection.

If the notification of objection is presented between Day sixty-one and Day ninety of the aforementioned term, the Customer’s Bank must resolve on the procedence of said objection in a maximum term”

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of twenty Days and, if appropriate, must pay the claimed amount no later than the next Banking Business Day following the date of the resolution.

In the case of objections notified by the Account Holder, relating to the Direct Debit requested by a Provider other than the Customer's Bank, the Customer's Bank itself must send the Provider a copy of the objection notification, no later than the next Banking Business Day following the day it received it, so that the Provider may pronounce itself on the appropriateness of the Account Holder's objection. In this case, the Institution that requested the Direct Debit related to the objection must communicate to the Customer's Bank its resolution on the appropriateness of said objection, as well as the respective evidence, no later than ten Banking Business Days after the day it received from the Customer's Bank the copy of the objection notification.”

Inappropriateness of the chargeback objection

“Article 69.- In the event that the chargeback objection for Direct Debit is not appropriate in accordance with what is stated in the second paragraph of Article 68 of these Provisions, the Customer's Bank must make available to the Account Holder, personally at the branch where the Account is located, or through the means agreed upon with the aforementioned holder, at the latter's choice, within a period of ten Banking Business Days counted from when the appropriateness of the objection referred to in the cited article is resolved, the printed original of the resolution signed by authorized personnel in which the arguments supporting the inappropriateness are expressed in simple and clear language, and which contains the following information:

I. Evidence of the authentication elements used by the Customer's Bank to process the requests for charges made on the Account in question, including that provided by the corresponding Provider, as well as the explanation, in simple and clear language, of said elements and the manner in which it performed its verification in accordance with the procedures applicable to said authentication factors; II. Date on which the respective charges were made, and III. Name of the Provider's Bank that requested the charges that are the subject of the claim.

The Customer's Bank must, at the request of the Account Holder, make available and deliver, free of charge, within the period of forty-five Days following the delivery of the resolution referred to in this article, at the branch where the Account is located, or at the specialized unit that the Customer's Bank has established for the attention of users, products and financial services in accordance with the Law for the Protection and Defense of Users of Financial Services, a copy of the file generated due to the notification of the objection, which includes the documentation and information directly related to it.

Additionally, it must send the Account Holder a copy of said resolution via email when the latter has presented the objection through the electronic page that the Customer's Bank has on its Internet website or when so requested when presenting the objection.”

Transfer Requests

“Article 75.- The Originating Institution must, upon request presented by the Account Holder of the Originating Account in terms of this Section II, transfer to the Receiving Account designated for this purpose, the resources corresponding to the Labor Benefits that are deposited in the Originating Account. The Originating Institution must execute the aforementioned transfers in: a) the same Banking Business Day on which the resources corresponding to the Labor Benefits are credited to the Originating Account, if such credit is made by 17:00:00 hours on that day, or b) the next Banking Business Day following the day on which such credit is made, if it occurs after 17:00:00 hours on that same day. Each of these transfers must be made for the total amount of the resources corresponding to Labor Benefits that have been deposited in the respective Receiving Account, unless the Originating Institution must execute the previously agreed charge with the account holder so that the resources available in that Account are applied to the payment of Credits Associated with the Payroll that he has entered into, or unless the Originating Institution must dispose of said resources in compliance with a valid judicial authority order. The transfers referred to in this article will be carried out free of charge for the account holders, without prejudice to what is established in Article 80 of these Provisions.

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For the purposes of what is provided in the previous paragraph, Institutions must allow each holder of the Accounts mentioned in said paragraph to present, at their choice, the request referred to in that same paragraph to the Originating Institution or to the Receiving Institution through any of the following alternatives:

I. Personally at any of the branches of said Institutions. For these purposes, the Originating Institution or the Receiving Institution to which the account holder intends to present the request must require him to present it in terms of the format included in Annex 4 of these Provisions. Likewise, the Institution in question must collect the identification documents of the applicant, as well as carry out verification actions on them under the same terms established in the provisions issued by the National Banking and Securities Commission for the execution of cash withdrawal operations and transfers of resources for amounts equal to or greater than the equivalent in national currency to 2,800 UDI, in person.

II. Through the Internet electronic banking service that, if applicable, the Institution in question has previously contracted with the account holder so that he can carry out transfers of monetary resources to third-party accounts or other institutions. For the Originating Institution or the Receiving Institution to consider valid the requests presented to them by their account holders through the electronic means referred to in this fraction, these must be formulated in terms of the format established in Annex 4 Bis and comply with the same authentication factors required, in accordance with applicable provisions, to carry out transfers of monetary resources from third parties or other Institutions through Internet electronic banking.

The Receiving Institution that receives the request referred to in this article, through any of the aforementioned means, must, on behalf and for the account of the respective account holder, manage said request before the Originating Institution, so that the latter carries out the transfers in accordance with what is provided in the first paragraph of this article. Regarding this, as part of the management carried out by the Receiving Institution, it must manifest to the Originating Institution that it has the request and authorization of the account holder so that said Receiving Institution, on behalf and for the account of said account holder, processes the transfers in question before the Originating Institution. The Originating Institutions and the Receiving Institutions may in no case require additional or different documentation than that indicated in the fractions above.

The Originating Institutions and the Institutions that hold Accounts susceptible of being constituted as Receiving Accounts must make available to their account holders the formats contained in Annex 4 and, if applicable, Annex 4 Bis of these Provisions, in the same manner in which they allow the general public to access the documentation of these Institutions, in particular, in visible places in all their branches, on their respective Internet websites and, if applicable, through the Internet electronic banking service that they make available to their account holders. For the effect of the aforementioned, said Institutions must transcribe textually the content of the aforementioned Annexes 4 or 4 Bis, as applicable, and may only incorporate their corporate name, trade name, logo, request identification folio and contact data for any clarification.”

Processing of Requests

“Article 76.- The Originating Institutions and those Institutions that hold Accounts susceptible of being constituted as Receiving Accounts must receive the requests referred to in the previous article in any of their branches or, if applicable, through the Internet electronic banking service referred to in fraction II of said article.

The Institution that receives the request in accordance with the above will be responsible, in terms of what is provided by this Section II, for the proper identification of the account holder, as well as for verifying the information of the request against that which is in its possession. The foregoing must be observed, without prejudice to what is provided in the applicable provisions on the opening of Accounts.

To comply with what is provided in the previous paragraph, the Institution that receives the request referred to in this article must, in addition to carrying out the actions indicated in the previous Article 75, verify the identity of the applicant, as well as the data of the Originating Account or the Receiving Account, if it is the Receiving Institution or the Originating Institution, respectively, that the requesting account holder indicates in said request. For these purposes, the Institution must:

I. Obtain from the applicant, at the latter's choice, any of the following documents relating to the Receiving Account, if the request is presented to the Originating Institution, or to the Originating Account, if the request is presented to the Receiving Institution: (i) the cover page of the account opening contract, (ii) any account statement issued within the quarter immediately preceding the date of presentation of the request, or (iii) the valid debit card that contains the printed name of the account holder, or

II. Instead of obtaining the documentation referred to in the previous fraction I, at the choice of the requesting account holder, the Institution may send, charged to the respective Account of the latter, a transfer order in favor of the same account holder, for the smallest amount allowed, through the interbank payment system that issues receipts of the transfers made in which the name of each beneficiary and their respective Accounts are specified, so that, with the information contained in the receipt obtained by said transfer, it verifies that the Account provided by him corresponds to him. The Institution that performs the verification in terms of this paragraph may only charge the requesting account holder, for said procedure, the rate applicable to the aforementioned transfer order.

The Institution that receives the request must require the other Institution to verify that the information contained in the referred request corresponds to the information of the Account that the latter holds for the account holder.

In the event that the account holder has presented the transfer request before the Receiving Institution, the latter must send said request to the Originating Institution within a period not greater than five Banking Business Days following the day on which the account holder has presented said request.

The Receiving Institution may process the request referred to in this article only in the event that the Receiving Account designated by the account holder corresponds to a level 4 account. Regarding accounts of levels 2 and 3, the Receiving Institution that opens them may consider them as Receiving Accounts, provided that the Receiving Institution collects from the respective account holders the documentation that, for level 4 accounts, Institutions must collect from their clients in accordance with what is established regarding this in the “General Provisions referred to in Article 115 of the Credit Institutions Law” issued by the Secretariat of Finance and Public Credit.

Receiving Institutions may not process requests from their respective account holders so that, in turn, they transfer to other Receiving Institutions the resources corresponding to Labor Benefits that, in accordance with what is provided by this article, the first ones receive in the respective Receiving Accounts they administer.

Originating or Receiving Institutions must not process transfer requests for resources in those cases where such transfers cause the non-compliance with judicial or administrative resolutions that have been notified to them.

In no case may Institutions establish additional requirements or documentation to that indicated in the previous article as part of the information verification process they carry out in terms of this article.”

Notification of Request Presented by Receiving Institution

“Article 76 Bis.- The Originating Institution that receives a request from the Receiving Institution in terms of the previous Article 75 must notify the holder of the respective Originating Account, about the presentation of said request, as well as the date from which the Originating Institution will carry out the transfers of the resources corresponding to Labor Benefits that it receives for credit to the Originating Account. The notification referred to in this article must be carried out in any of the following forms:

I. No later than the fifth Banking Business Day following the Day on which the Originating Institution receives said request, through the same means that it has agreed with the account holder for the notification of matters related to the respective Account. Said notification must include the following legend:

We have received from (name of the Receiving Institution) the request that you presented to said institution so that the resources of your salary, pensions and other labor benefits, which are currently deposited in the account that you have with this institution, are transferred periodically to account number (eighteen digits of the Receiving Account) that this Institution holds for you, starting from (date from which the transfers will be made).

We remind you that you can cancel the aforementioned transfers, for which you must present to us a cancellation order directly in our branches or, if applicable, through the Internet electronic banking service that you have contracted with us. For this, we make available to you the format of said cancellation order in our branches and on our Internet portal. Take into account that the cancellation you request will take effect on the second Banking Business Day following the date on which you present the respective cancellation order.

II. No later than the fifth Banking Business Day following the Day on which the Originating Institution receives said request, through a text message transmitted by the short message service (referred to as SMS, by its English acronym), to the mobile telephone number that, if applicable, has been associated with the Originating Account in question or, only in the event that the Originating Account has not been associated with a referred telephone number, to that other mobile telephone number that the account holder has provided to the Originating Institution to receive communications from it. Said notification must express the following phrase through the consecutive text messages required for it:

“[Name or trade name of the Originating Institution] has received your request so that the deposits of your salary, pensions and labor benefits are transferred starting from [day]/[month]/[year]* to the account of [name or trade name of the Receiving Institution] indicated in your request. For doubts or clarifications, visit our branches or contact us at [_________].**”

• The date must correspond to that from which the Originating Institution must carry out the transfers referred to in this article and may be indicated as: day number/abbreviation of the month/last two digits of the year. The month abbreviations will be: “JAN, FEB, MAR, APR, MAY, JUN, JUL, AUG, SEP, OCT, NOV and DEC”.

** The customer service telephone number of the Originating Institution must be indicated.

The Originating Institution must keep a record of the notification it makes to the holder of the Originating Account regarding the presentation of the request by the Receiving Institution to carry out the transfer of the resources corresponding to Labor Benefits that the latter receives in the Originating Account.”

Sending of Resources

“Article 77.- The Originating Institution must be able to carry out the transfers referred to in the previous Article 76, starting from the fifth Banking Business Day following the day on which the respective request has been presented directly by the account holder or, in the event that the respective request has been presented by the Receiving Institution in question, starting from the tenth Banking Business Day following the day on which it has presented said request.

For the purposes of what is provided in the previous paragraph, starting from the Banking Business Day following the conclusion of the period that is applicable in accordance with what is stated in said paragraph, the Originating Institution must carry out the first of the transfers that are the subject of the request processed in terms of Article 76 of these Provisions, once said Institution receives the resources corresponding to the Labor Benefits that it must credit to the Originating Account indicated in said request. In the event that the Originating Institution receives, within the period that corresponds in accordance with what is stated in the previous paragraph, resources corresponding to the Labor Benefits that it must credit to the Originating Account, it must abstain from carrying out the transfer of such resources to the Receiving Account.

Originating Institutions that are participants in the SPEI in terms of the applicable provisions must transfer to the Receiving Institutions, through that payment system, the resources corresponding to the Labor Benefits credited to the Originating Account in question, for which they must send the respective SPEI transfer order on the same Banking Business Day on which said resources are available to the Originating Institution, to be credited to the Receiving Account no later than 17:00:00 hours on the Banking Business Day in question. In each of these transfers, the Originating Institution must include in the “Payment Concept” field of the SPEI format, the legend “Payroll Portability”.

In the event that the resources corresponding to the Labor Benefits are available to the Originating Institution for transfer and credit to the Receiving Account after the hour mentioned in the previous paragraph, the sending by SPEI of the transfer order to the Receiving Account

Monday, October 29, 2018 OFFICIAL GAZETTE (First Section) 83 must be carried out with sufficient advance notice so that such resources are credited no later than the opening of the following Banking Business Day. In the event that the Ordering Institution cannot carry out the transfer of the resources corresponding to Labor Benefits due to technical issues attributable to the Receiving Institution, the Ordering Institution must attempt to transfer such resources again on the immediate next Banking Business Day. In this case, the Receiving Institution must cover the Ordering Institution the cost corresponding to the subsequent transfers it must carry out as a result of the foregoing. In the event that the Ordering Institution cannot carry out the transfer of the resources corresponding to Labor Benefits due to technical issues attributable to itself, it must attempt to transfer such resources on the immediate next Banking Business Day. In this case, the costs corresponding to the subsequent attempts to transfer the resources will be assumed by the Ordering Institution itself. The Ordering Institution that carries out the transfer of the resources corresponding to Labor Benefits from the time it has carried out the first transfer to the Receiving Account in accordance with the terms of this Section II, until such time as it receives the cancellation order referred to in the following article, is prohibited from charging commissions to account holders in accordance with the provisions of Circular 22/2010 of the Bank of Mexico.”

“Cancellation of the transfer service Article 78 Bis.- The Ordering Institution that does not receive resources corresponding to Labor Benefits for credit to the Ordering Account during a period of six consecutive months, may cancel the transfer service requested by the account holder in accordance with the terms of this Section II. For the purposes of the provisions in the preceding paragraph, the Ordering Institutions must notify, the respective account holder and the Receiving Institution in question, that it will cancel the transfer service and the date from which it will take effect. Likewise, through the aforementioned notification, the Institution must inform its account holder that it may re-establish the aforementioned transfer service through a new request presented in accordance with this Section II. The Ordering Institution must carry out the notification referred to in the preceding paragraph by the same means provided for in Article 76 Bis of these Provisions and with at least ten Banking Business Days in advance of the date from which the service will be cancelled.”

“Transfers from Ordering Accounts subject to Direct Debits Article 80.- The Ordering Institution that receives the request from the account holder that is deemed appropriate, in accordance with the provisions of this Section II, must transfer the total amount of the resources corresponding to Labor Benefits that it receives for deposit in the respective Ordering Account, and therefore it may not charge any fee to the account holder for the management and execution of such transfers. As an exception to the provisions of the preceding paragraph, the Ordering Institution, prior to the transfer of the resources to the Receiving Account, must effect, in the order of precedence provided for in these Provisions, the charges in the Ordering Account that correspond to the following situations: I. Those corresponding to the payment of credits that the Ordering Institution itself has granted to the account holder, including Payroll-Linked Credits, in accordance with the Direct Debit that the account holder has requested for these purposes; II. Those corresponding to the recurrent payment of goods, services or credits, including Payroll-Linked Credits, in accordance with the Direct Debit that the account holder has requested for these purposes, or III. Those that the Ordering Institution must carry out to comply with judicial or administrative resolutions, in accordance with the applicable laws. Ordering Institutions may not modify the terms and conditions agreed upon in the contracting of the credits and services referred to in fractions I and II above due to the presentation of a transfer request in accordance with this Section II.”

Direct sending of resources to the Receiving Account

84 (First Section) OFFICIAL GAZETTE Monday, October 29, 2018

“Article 81.- Institutions that offer the Payroll Service must allow Employers to deposit Labor Benefits directly in favor of their employees in any Account that the latter have designated, through the same process of electronic fund dispersion corresponding to the Payroll Service, as well as in the same timeframes. The foregoing shall be applicable without prejudice to what is stated in Article 80 of these Provisions.”

“Interbank Payroll Services Article 81 Bis 1.- The Institution that offers the Payroll Service must provide it under the same terms and conditions with respect to all Accounts in which it must make credits of the respective resources, regardless of whether such Accounts are opened in the same Institution or in any other. In the event that the Institution provides the Payroll Service by transferring the resources corresponding to Labor Benefits to accounts held by any other Institution different from the one providing said service, the commission that the latter charges the Employer for that same service may in no case be greater than the amount applicable to said Institution for carrying out that type of transfers through the interbank payment system by means of which it executes said transfers.”

“ANNEX 1 Format to request Direct Debit [City*], [Federative Entity*], on [Day*] of [Month*] of [Year*] I request and authorize that, based on the information indicated in this communication, periodic charges be made in my account as follows:

1. Name of the provider of the good, service or credit or loan, as applicable, which intends to be paid through the requested direct debit: _____________.
2. Good, service or credit or loan, to be paid________________. In its case, the identification number generated by the provider (optional data): __________.
3. Regarding the payments of the credit or loan subject of this request, indicate below whether this is designated as a Payroll-Linked Credit with respect to which, in accordance with the provisions issued by the Bank of Mexico in Circular 3/2012 or those other issued in the future, the bank holding the account referenced here must carry out the respective charges in the place of the order of precedence to be followed with respect to the other charges requested to that same account: YES.................. □ NO……………….. □
4. Frequency of payment (Billing) (Example: weekly, biweekly, monthly, bimonthly, semiannual, annual, etc.): or, in its case, the specific day on which the payment is requested to be made: _.
5. Name of the bank holding the checking or savings account in which the charge will be made: _.
6. Any of the following account identification data: Debit card number (16 digits): ________; Standardized Banking Key (“CLABE”) of the Account (18 digits):__________, or Mobile phone number associated with the Account: ________________.
7. Maximum fixed amount of the charge authorized per billing period: $_____________________. Instead of the maximum fixed amount, if the credit indicated in this request is a revolving credit associated with a credit card that is not designated in this same request as a Payroll-Linked Credit, the account holder may opt to authorize any of the following charge options (Mark with an X the option that, as applicable, corresponds): The amount of the minimum payment of the period: ________________________,

Monday, October 29, 2018 OFFICIAL GAZETTE (First Section) 85 The total balance to not generate interest in the period: ______, or A fixed amount: _________________________Include amount) $. 8. As an exception to the above, if the credit indicated in this request is a revolving credit designated as a Payroll-Linked Credit, indicate below whether the monthly charge must be made for the maximum limit of 10% of the average of the credits in the account indicated in this request for the amounts corresponding to the labor benefits of the account holder, calculated in accordance with the provisions issued by the Bank of Mexico or, instead of said limit, a lower percentage: Maximum limit of 10% _________________ 9. This authorization is for an indefinite term ( ), or expires on: ________________. I am aware that at any time I may request the cancellation of this direct debit at no cost to me.

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(NAME OR BUSINESS NAME OF THE ACCOUNT HOLDER)”

“ANNEX 2 Format to cancel Direct Debit [City*],[Federative Entity*], on [Day*] of [Month*] of [Year*] [CREDIT INSTITUTION NAME], S.A. I request that this bank cancel the direct debit of the following payment:

1. Name of the provider of the good, service or credit: __________________________________.
2. Good, service or credit corresponding to the direct debit that is requested to be cancelled: ______. In its case, the identification number generated by the Provider (optional data): ____.
3. Any of the Account Identification Data where the charge is made, as follows: Debit card number (16 digits): _____________________________; Standardized Banking Key (“CLABE”) of the account (18 digits): _______, or Mobile phone number associated with the account: _______________________.
4. The direct debit that I request to cancel is to cover payments of some credit or loan that I owe □ yes □ no In the event that the direct debit that I request to cancel is made to effect payments of some credit that I owe, I acknowledge that this cancellation would cause payments to that credit to cease with the resources deposited in my account that I indicate in this request. In this regard, unless I cover in some other way the payments I must make for that credit, this cancellation would cause the non-compliance with the obligations I have for said credit, which would cause that situation to be reported to a credit information society (known as credit bureau). In addition to the above, in the event that the direct debit that I request to cancel has been made to cover payments of a Payroll-Linked Credit, as defined by said term in the general provisions issued by the Bank of Mexico in Circular 3/2012, which I designated so that the resources of said payments are charged to a deposit account where I receive my salary and other labor benefits, I acknowledge that: 1) the mere cancellation of said direct debit made with

86 (First Section) OFFICIAL GAZETTE Monday, October 29, 2018 prior to the expiration of the Payroll-Linked Credit, regardless of whether I make the payments of the pending debts in time and form, will be reported by the credit institution to a credit information society for informational purposes and also, will cause that no banking institution will be able to grant me a new Payroll-Linked Credit during the next nine months from the date of this cancellation request, and 2) The banking institution that granted me said Payroll-Linked Credit may rescind the contract we have celebrated for such effect, or increase the interest rate applicable to said Payroll-Linked Credit in the terms agreed in the respective contract. I am aware that the cancellation is at no cost to me and that it will take effect in a period not greater than three banking business days counted from the date of presentation of this request. Sincerely,

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(NAME, BUSINESS NAME OR DENOMINATION OF THE ACCOUNT HOLDER)”

“ANNEX 4 Format to request at branches the transfers of the resources corresponding to Labor Benefits [City*], [Federative Entity*], on [Day*] of [Month*] of [Year*] [CREDIT INSTITUTION ORDERING OR RECEIVING NAME**]: I, [ Name* ] [ Paternal Surname* ] [ Maternal Surname* ], by my own right and by this act, request that the resources corresponding to my salaries or, as applicable, pensions, as well as the other labor benefits that are deposited in my account number [ EIGHTEEN DIGITS OF THE ORDERING ACCOUNT* ] or in my valid debit card number [ SIXTEEN DIGITS OF THE DEBIT CARD OF THE ORDERING ACCOUNT* ] held by [ ORDERING INSTITUTION NAME* ], be transferred, at no cost to me, to the account I have open in my name at the credit institution named [ RECEIVING INSTITUTION* ] and which corresponds to the account number identified with [ EIGHTEEN DIGITS OF THE RECEIVING ACCOUNT* ] or with the valid debit card number [ SIXTEEN DIGITS OF THE DEBIT CARD OF THE RECEIVING ACCOUNT* ]. The transfers that I request by this means must be carried out on the following dates, as applicable:

1. In the event that the resources I request to transfer are credited to my deposit account held by that institution no later than 17:00:00 hours on a Banking Business Day, said institution must transfer said resources on that same Banking Business Day, or
2. On the other hand, in the event that the resources I request to transfer are credited to my deposit account held by that institution after 17:00:00 hours on a Banking Business Day, said resources must be transferred no later than the opening of the immediate next Banking Business Day. To make this request, I present my original official identification and, with respect to (the Receiving Account, if the request is presented to the Ordering Institution, or to the Ordering Account, if the request is presented to the Receiving Institution), at my choice, any of the following documents: (i) Cover page of the account opening contract; (ii) Account statement (issued no more than 3 months prior to the date of this request), or (iii) Valid debit card with my name printed. I acknowledge that the transfers that, by means of the present, I request to make of the resources corresponding to my salaries or, as applicable, pensions, as well as the other labor benefits will begin to be effected (i) from the sixth Banking Business Day following the date on which the institution that must make said transfers receives this request, in the event that I have presented this request directly before that institution, or well, (ii) from the eleventh Banking Business Day following the day on which the institution that must make said transfers receives this request from the institution that will receive said resources, in the event that I have presented this request before the latter institution.

Monday, October 29, 2018 OFFICIAL GAZETTE (First Section) 87 In any case, I reserve the right to cancel this request at any time, subject to the cancellation order that I present in accordance with the format that must be provided by the institution that must carry out the transfer requested by means of the present. The transfers that I request by this means consist of those that credit institutions are obliged to carry out in accordance with the provisions of Article 18 of the Law for Transparency and Ordering of Financial Services and are regulated by Circular 3/2012, issued by the Bank of Mexico, available on the Internet portal www.banxico.org.mx. Sincerely,

---

(CLIENT NAME AND SIGNATURE) This request has been received by [ ORDERING OR RECEIVING INSTITUTION NAME** ] on [ DAY** ] of [ MONTH** ] of [ YEAR** ] and, to follow up on its processing, a folio has been assigned to it: [ NUMBER** ]. *The data corresponding to these items must be filled in by the client at the time of presenting the request. **The data corresponding to these items must be filled in by the Institution at the time of receiving the request.”

TRANSITORY PROVISIONS FIRST.- This Circular will enter into force one hundred and fifty Days following its publication in the Official Gazette of the Federation. Without prejudice to the provisions of the preceding paragraph, during the period of three hundred and sixty Days counted from the entry into force of this Circular, Institutions will not be obliged to subject the designation of Payroll-Linked Credits, in accordance with the provisions of this Circular, to the limit of the sum of the charges that would correspond to be made in the Ordering Accounts equivalent to forty percent of the average monthly amount of the credits of resources corresponding to Labor Benefits made in the aforementioned Accounts, in accordance with what is established in Article 22 Bis 1 of this same Circular. By virtue of the provisions of this paragraph, Institutions may allow the designation of Payroll-Linked Credits for the charge in the respective Ordering Accounts of the amounts equivalent to the debts corresponding to the respective credits and loans designated with such character. SECOND.- The Institution that intends to grant Payroll-Linked Credits in accordance with the provisions of this Circular must present a report signed by its internal auditor in which it states that the cited Institution complies with what is established in Circular 3/2012 of the Bank of Mexico, with respect to Payroll-Linked Credits, in the terms established in this Circular. Said report must be approved by the audit committee of the Institution in question and also signed by the General Director of the Institution. From the entry into force of this Circular and until such time as Institutions do not present the aforementioned report and establish the mechanisms referred to in Article 63 Bis 3 of these Provisions, they may not grant credits or loans charged to Ordering Accounts or carry out the designation as Payroll-Linked Credits of those referred to in the following Third Transitory Article. The foregoing must be provided in a visible place at the first level within the internet page of the Institution that is in said situation. Legal entities that are in the process of being authorized to act as Institutions that intend to receive deposits of money at sight that could be used as Ordering Accounts, must present said report to the Bank of Mexico within the corresponding authorization process and prior to the start of operations. THIRD.- Institutions that, prior to the entry into force of this Circular, have granted to their clients credits or loans that remain in force at the aforementioned entry into force, with respect to which they have agreed that the payments of the obligations corresponding to said credits or loans are made through the charge in the Accounts in which they deposit resources corresponding to Labor Benefits, will have a period of ninety Days from said entry into force to allow said clients to designate said credits or loans as Payroll-Linked Credits in accordance with the provisions included in this Circular, subject to the respective clients agreeing with the Institutions that administer the corresponding Ordering Accounts the contractual stipulations that establish what is contemplated in Article 22 Bis 1, fraction I, subsection a), contained in this Circular, in order to be considered in the corresponding order of precedence, in accordance with Article 22 Bis 1, fraction I, subsection d). Without prejudice to the foregoing, during the period referred to in this article, only the credits and loans mentioned in this transitory article may be designated as Payroll-Linked

88 (First Section) OFFICIAL GAZETTE Monday, October 29, 2018 credits and loans mentioned in this transitory article, subject to compliance with the conditions established in the provisions included in this Circular, as well as those other that are applicable. FOURTH.- Without prejudice to the provisions of the first and third transitory articles above, Institutions that, on the date of publication of this Circular, maintain open Checking Accounts that fall under the situation of Ordering Accounts contemplated in the provisions included in this Circular must celebrate with the respective account holders, in accordance with procedures previously agreed with them, the agreements that proceed to modify the contracts corresponding to said Accounts, during the one hundred and fifty Days following the aforementioned publication, in accordance with what is indicated in Article 22 Bis 1, fraction I, subsection a), of this same Circular. FIFTH.- The Bank of Mexico, in exercise of its authority to issue provisions to which the characteristics of, among others, passive operations and services carried out by Institutions must adjust, with the purpose of protecting the interests of the public, will issue provisions that Institutions must observe in the offering and provision of Payroll Services in order to foster adequate conditions of transparency, fair competition and other aspects of correct conduct in said service. Mexico City, October 24, 2018.- The General Director of Operations and Payment Systems, Jaime José Cortina Morfín.- Rubric.- The General Legal Director, Luis Urrutia Corral.- Rubric.- The General Director of Financial System Affairs, Jesús Alan Elizondo Flores.- Rubric. For any consultation regarding the content of this Circular, please contact the Department of Authorizations, Consultations and Legal Control, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000 Ext. 3200.