Regulatory Alerts2009-10-11 | Circular 24/2009Added
Circular 24/2009 — Modifies Commission Collection Rules
The Bank of Mexico amends Circular 17/2009 by adding definitions for card issuers, operators, and cardholders, and establishing new rules for ATM commission collection. Operators must choose between two schemes for interbank operations: either they charge the fee while issuers charge nothing, or issuers charge the fee while operators charge nothing, and must notify the Bank of Mexico at least 30 days before any change. Operators are required to display specific commission details, including amounts excluding taxes and the entity receiving the fee, on ATM screens before customer authorization. The resolution entered into force on October 13, 2009, with notification deadlines for operators set for December 15, 2009, and full compliance for display requirements by April 30, 2010.