Regulatory Alerts2007-07-16 | Circular 6/2007Added
Circular 6/2007 — Rules for Credit Institutions Regarding Basic Payroll and General Public Accounts
The Bank of Mexico establishes mandatory minimum services and fee restrictions for basic payroll accounts and basic general public accounts offered by credit institutions. Basic payroll accounts must provide specific services free of charge, while basic general public accounts are exempt from fees unless monthly credits exceed 165 minimum daily wages in Mexico City on three consecutive occasions. Credit institutions are prohibited from denying these accounts to eligible individuals and must publish service details online, with full compliance required within 180 days of the decree's effective date.