Regulatory Alerts2014-10-03 | Circular 16/2014Added
Circular 16/2014 — Modification of Circular 22/2010 Regarding ATM Commission Charges
The Bank of Mexico amends the definitions of "Issuer," "Financial Entity," and "ATM Operator" in Circular 22/2010 and modifies Article 7.1 to permit reduced or waived ATM commissions for clients of issuers with specific network agreements under Circular 3/2012. It mandates that ATM operators display specific commission disclosure messages before authorizing transactions and allows users to cancel operations without cost. The circular enters into force the banking day following its publication, with a 180-day compliance period for displaying messages for non-credit/debit card transactions.