Circular 7/2015 — Modifications to Circular 3/2012 (Payroll Portability)

(First Section) OFFICIAL GAZETTE Friday, March 20, 2015 BANK OF MEXICO CIRCULAR 7/2015 addressed to Credit Institutions and the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development, regarding modifications to Circular 3/2012 (payroll portability).

At the margin, a logo that says: Bank of Mexico.

CIRCULAR 7/2015
TO CREDIT INSTITUTIONS AND THE
NATIONAL FINANCIAL INSTITUTION FOR AGRICULTURAL, RURAL, FORESTRY AND FISHERIES DEVELOPMENT

SUBJECT: MODIFICATIONS TO CIRCULAR 3/2012
(PAYROLL PORTABILITY)

The Bank of Mexico, with the purpose of continuing to promote the sound development of the financial system and the protection of the public's interests, and in view of the most recent reforms made to the Law for Transparency and Order of Financial Services, regarding the periodic transfers of salary deposits, pensions and other labor-related benefits that credit institutions are obligated to carry out at the request of account holders, has determined to establish the conditions and terms that provide adequate certainty and clarity for said institutions and their respective account holders when managing the referred transfer requests that are presented either before said institution or before another institution to which the resources would be transferred.

For the above, 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, 18 and 22, of the Law for Transparency and Order of Financial Services, 19 of the Organic Law of the National Financial Institution for Agricultural, Rural, Forestry and Fisheries Development, 4, first paragraph, 8, paragraphs fourth and seventh, 10, first paragraph, 14 Bis, first paragraph, in relation to 17, fraction I, 14 Bis 1, first paragraph, in relation to 25 Bis 1, fraction IV, and 20, fraction XI, of the Internal Regulations of the Bank of Mexico, which grant it the authority to issue provisions through the General Legal Directorate, the General Directorate of Affairs of the Financial System and the Payments Systems Directorate, respectively, as well as Second, fractions I, VIII and X, of the Agreement on the Assignment of Administrative Units of the Bank of Mexico, has resolved to modify the index, articles 75, 76, 77, 78, 79, 80, 81 and Annex 4, as well as add articles 76 Bis, 81 Bis and Annexes 4 Bis, 4 Bis 1 and 4 Bis 2 of 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 III
SERVICES
Section II
Transfer of salary, pensions and other labor-related benefits …

“Article 76.- Processing of requests”
“Article 76 Bis.- Notification of request presented by Receiving Institution” “Article 77.- Sending of resources” “Article 78.- Cancellation orders for transfers” “Article 79.- Acknowledgment of receipt of requests”

Friday, March 20, 2015 OFFICIAL GAZETTE (First Section) “Article 80.- Direct Debit Services charged to Originating Accounts” … “Article 81 Bis.- Dissemination of the transfer process” …

ANNEXES
…
“Annex 4 Format to request before branches the transfers of the resources corresponding to Labor Benefits” “Annex 4 Bis Format to request through the Internet electronic banking service the transfers of the resources corresponding to Labor Benefits” “Annex 4 Bis 1 Format to order before branches the cancellation of the transfer of the resources corresponding to Labor Benefits” “Annex 4 Bis 2 Format to order through the Internet electronic banking service the cancellation of the transfer of the resources corresponding to Labor Benefits” …

Transfer Requests
“Article 75.- Institutions must allow any account holder who is the owner of an Originating Account, as well as of another Account that they have previously opened in a different Institution and that they can designate as a Receiving Account, to request, through a request presented in terms of this Section II, that the Originating Institution, on each Banking Business Day on which the resources corresponding to Labor Benefits are credited to the Originating Account, transfer the entirety of said resources to the respective Receiving Account. The transfers referred to in this article shall be carried out free of charge for the account holders, without prejudice to what is established in article 80 of these Provisions.

For the purposes of the provisions in the previous paragraph, Institutions must allow each owner of the Accounts indicated 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 in any of the branches of said Institutions. For these purposes, the Originating Institution or the Receiving Institution to which the request is presented must require the account holder to present said request in terms of Annex 4 and to exhibit an official identification, as well as, at the choice of the latter, any of the following documents related 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 containing the printed name of the account holder.

II. Through the Internet electronic banking service, if any, that the Institution in question has previously contracted with the account holder so that this 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. For these purposes, the Institution in question shall only admit those requests presented by the respective account holders that indicate their date of birth, as well as the account number or CLABE corresponding to the Receiving Account, if the request in question is presented to the Originating Institution, or the Originating Account, if said request is presented to the Receiving Institution.

The Receiving Institution that receives the request referred to in this article, through any of the means previously indicated, must, on behalf and at the expense of the account holder in question, 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 at the expense of said account holder, processes the transfers in question before the Originating Institution. Originating Institutions and Receiving Institutions may in no case require additional or different documentation than that indicated in the fractions above.

Originating Institutions and Institutions that hold Accounts susceptible of constituting 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 way that 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 web pages 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 referred Annexes 4 or 4 Bis, as applicable, and may only incorporate in them their corporate name, trade name, logo, request identification folio and contact data for any clarification.”

“Processing of Requests
Article 76.- Originating Institutions and those Institutions that hold Accounts susceptible of constituting 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 shall be responsible, in terms of what is provided by this Section II, for the adequate identification of the account holder, as well as for verifying the information of the request against that which is in its possession. The foregoing shall be observed, without prejudice to what is provided in the provisions applicable to the opening of Accounts.

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 subsequent to the day on which the account holder has presented said request.

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 former receive in the respective Receiving Accounts that 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.”

“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 owner of the respective Originating Account, at the latest on the fifth Banking Business Day following the day it receives said request, about the presentation of the same, as well as the date from which it 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 through the same means that Originating Institutions have agreed with their account holders for the notification of matters related to the respective Accounts and must include the following legend:

“We have received from (name of the Receiving Institution) the request that you presented to said institution for the resources of your salary, pensions and other labor-related benefits, which are currently deposited in the account you have with this institution, to be transferred periodically to account number (eighteen digits of the Receiving Account) that that Institution holds for you, starting from (date from which transfers will be carried out). We remind you that you can cancel the referred transfers, for which you must present before 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.” ”

“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 that on which the respective request has been presented directly by the account holder or, in case the respective request has been presented by the Receiving Institution in question, starting from the tenth Banking Business Day following that on which this has presented said request.

For the purposes of the provisions in the previous paragraph, starting from the Banking Business Day following the conclusion of the period that results applicable in accordance with what is indicated in said paragraph, the Originating Institution must carry out the first of the transfers that are the object of the request processed in terms of article 76, once said Institution receives the resources corresponding to the Labor Benefits that it must credit to the Originating Account indicated in said request. In case the Originating Institution receives, within the period that corresponds in accordance with what is indicated in the previous paragraph, resources corresponding to 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 must transfer to 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 at the disposal of the Originating Institution, to be credited to the Receiving Account at the latest at 15:00:00 hours of 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” (sic).

In case the resources corresponding to Labor Benefits are at the disposal of the Originating Institution to be transferred and credited to the Receiving Account after the hour mentioned in the previous paragraph, the sending by SPEI of the transfer order to the Receiving Account must be carried out with the necessary advance so that said resources are credited at the latest at the opening of the following Banking Business Day.

In the event that the Originating Institution cannot carry out the transfer of the resources corresponding to Labor Benefits due to technical issues attributable to the Receiving Institution, the Originating Institution must attempt again the transfer of said resources on the immediately following Banking Business Day. In this case, the Receiving Institution must cover to the Originating Institution the corresponding cost of the subsequent transfers that it must carry out as a result of the foregoing.

In the event that the Originating Institution cannot carry out the transfer of the corresponding resources due to technical issues attributable to itself, it must attempt the transfer of said resources on the immediately following Banking Business Day. In this case, the costs corresponding to the subsequent attempts to transfer the resources will be assumed by the Originating Institution itself.

The Originating Institution that carries out the transfer of the resources corresponding to Labor Benefits starting from when it has carried out the first transfer to the Receiving Account in terms of this Section II, until it receives the cancellation order referred to in the next article, are prohibited from charging commissions to account holders in terms of what is provided in Circular 22/2010 of the Bank of Mexico.”

“Cancellation Orders for Transfers
Article 78.- Account holders may instruct at any time the cancellation of the transfers of resources from the Originating Account to the Receiving Account that they have ordered in accordance with what is provided by article 75 of these Provisions.

For the effects indicated in the previous paragraph, Originating Institutions must allow account holders to present before them the respective cancellation orders for transfers. Originating Institutions must allow said orders to be presented in the same form and terms as those provided in articles 75 and 76 to request transfers and these must be formulated in terms of the formats contained in Annexes 4 Bis 1 and 4 Bis 2 of these Provisions.

The cancellation orders referred to in this article shall take effect at the latest on the second Banking Business Day following the date on which they are presented to the Originating Institution in question.

Originating Institutions must make available to their account holders the formats contained in Annexes 4 Bis 1 and, if applicable, 4 Bis 2 of these Provisions, in the same way that 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 web pages and, if applicable, through the Internet electronic banking service that they make available to their account holders.

Without prejudice to the foregoing, once account holders have presented the respective cancellation orders referred to in this article, they may subsequently present a new request for the transfers referred to in this Section II to be carried out.”

“Acknowledgment of Receipt of Requests
Article 79.- Institutions must keep a record of transfer requests and cancellation orders, as well as the related documentation, that they receive in terms of articles 75 and 78 of these Provisions for a period of 5 years.

Institutions must deliver to account holders a copy of the requests and orders that they present in any of their branches, with the seal of the Institution that attests to its receipt, the executive's signature and the date of receipt. In case the referred requests and orders have been presented through the Internet electronic banking service, Institutions must establish schemes for the delivery of the corresponding acknowledgments of receipt, which may include an electronic image of the format that corresponds in terms of Annexes 4, 4 Bis, 4 Bis 1 and 4 Bis 2, duly filled in with the data provided by the account holder and the respective Institution, which the account holder can print or keep in an electronic file.

In any case, Institutions must assign and provide to requesting account holders, at the moment they present the respective requests, a folio number corresponding to the referred requests, in order to follow up on their processing before said Institutions.”

“Direct Debit Services charged to Originating Accounts
Article 80.- The Originating Institution that receives from the account holder the request that is appropriate, in accordance with what is provided in this Section II, must transfer the entirety of the resources corresponding to Labor Benefits that it receives for deposit in the respective Originating Account,

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Friday, March 20, 2015 OFFICIAL GAZETTE (First Section)

so that it may not charge the account holder any fee for the management and execution of said transfers.
The above shall not constitute an impediment for the Ordering Institution, prior to the transfer of funds to the Receiving Account, to make charges in the Ordering Account in the following cases:

I. When this has been agreed with the account holder to pay credits granted by the Ordering Institution itself;
II. In cases where the account holder has authorized it through the Direct Debit service for the recurring payment of goods, services, or credits, or
III. When the charge is made to comply with judicial or administrative resolutions, in accordance with 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 submission of a transfer request under this Section II.”

“Direct Transfer of Funds to the Receiving Account
Article 81.- Institutions offering the Payroll Service shall allow Employers to deposit Labor Benefits directly into the Ordering Account or the Receiving Account designated by the employees, through the same electronic fund dispersion process corresponding to the Payroll Service. The foregoing shall apply without prejudice to what is stated in Article 80 of these Provisions.”

“Dissemination of the Transfer Process
Article 81 Bis.- Institutions offering the opening of Demand Deposit Accounts to individuals shall make available to the general public, in the same section of their Internet website where they publish the formats provided in Annexes 4, 4 Bis, 4 Bis 1, and 4 Bis 2 of these Provisions, a simple guide regarding the transfer process of Labor Benefits referred to in this Section II, in which they explain the rights and obligations of account holders and Institutions.

Likewise, Ordering Institutions and those Institutions holding Accounts that may constitute Receiving Accounts must disseminate on their Internet website, throughout the year, in a section accessible to the general public, as well as through clearly visible posters placed in all their branches, during the months of January and July of each year, the following legend:

“You have the right to have, at no cost to you, the resources of your salary, pensions, and other labor-related benefits deposited in the account you hold at this institution, transferred to another account that you own, opened at another bank.
To do so, you only need to submit your request at any of our branches or through our Internet electronic banking service, which you have contracted with us, using the formats we have available at said branches or on our Internet website, as well as presenting the documentation indicated in said formats.”

In addition to the above, on the first Banking Business Day of each week in the months indicated in this article, Ordering Institutions and Institutions holding Accounts that may constitute Receiving Accounts must publish, individually or jointly, in at least two newspapers of wide national circulation, the following legend:

“As a banking client, you have the right, at no cost to you, to request that the resources of your salary, pensions, and other labor-related benefits deposited in your bank account be transferred to another account in your name held at the bank of your choice.
To this effect, the request format to be used will be available at all branches, on your bank’s Internet website, and through the Internet electronic banking service.”

During each of the mentioned months, no more than one publication shall be made in the same newspaper.”

“ANNEX 4
Format to request at branches the transfer of resources corresponding to Labor Benefits [City*], [Federal Entity*], on [Day*] of [Month*] of [Year*] [NAME OF ORDERING OR RECEIVING INSTITUTION]:
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 other labor benefits deposited in my account number _________________________________(eighteen digits of the Ordering Account*) held by _____________________(name of the Ordering Institution*), be transferred, at no cost to me, to the account I have open in my name at the credit institution named ___________________(Receiving Institution*) and identified with the account number ______________________ (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 I request through 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 by 15:00:00 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 15:00:00 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 official identification original, and with respect to (the Receiving Account, if the request is presented to the Ordering Institution, or 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 I request herein regarding resources corresponding to my salaries or, as applicable, pensions, as well as other labor benefits, will begin to be effected (i) from the sixth Banking Business Day following the date on which the institution required to make said transfers receives this request, in case I have presented this request directly to that institution, or (ii) from the eleventh Banking Business Day following the day on which the institution required to make said transfers receives this request from the institution that will receive said resources, in case I have presented this request to the latter institution. In any case, I reserve the right to cancel this request at any time, subject to the cancellation order I present in terms of the format that the institution required to carry out the transfer requested herein must provide me. The transfers I request through this channel consist of those that credit institutions are obligated to carry out in accordance with Article 18 of the Law for the 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, __________________________________________ (NAME AND SIGNATURE OF THE CLIENT)

Friday, March 20, 2015 OFFICIAL GAZETTE (First Section) This request has been received by ____________________________[Name of the Ordering or Receiving Institution**] on [Day**] of [Month**] of [Year**] and, to follow up on its processing, the file number: ___________[Number] has been assigned.
*The data corresponding to these fields must be filled in by the client at the time of presenting the request.
The data corresponding to these fields must be filled in by the Institution at the time of receiving the request.”

“ANNEX 4 Bis
Format to request via Internet electronic banking service the transfer of resources corresponding to Labor Benefits [NAME OF ORDERING OR RECEIVING INSTITUTION]:
ORDERING ACCOUNT: [Enter CLABE Account or sixteen digits of Debit Card] ORDERING INSTITUTION: [Combo with short names of Banks] RECEIVING ACCOUNT: [Enter CLABE Account or sixteen digits of Debit Card] RECEIVING INSTITUTION: [Combo with short names of Banks] DATE OF BIRTH: [In the format required by the Institution e.g. DD/MM/YYYY] [THE ABOVE DATA MAY BE AUTOMATICALLY INCLUDED BY THE ORDERING INSTITUTION OR BY THE RECEIVING INSTITUTION DEPENDING ON WHICH ONE THE REQUEST FOR TRANSFER OF RESOURCES IS MADE.] [Once the client fills in the corresponding fields and accepts the instruction, the system must make available to the client through a link, or display the legend contained in the following paragraphs, which must be accepted by the client.] By this act, I request that the resources corresponding to my salary or, as applicable, pensions, as well as other labor benefits deposited in the account held by the Ordering Institution be transferred, at no cost to me, to the account held by the Receiving Institution. The transfers I request through 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 by 15:00:00 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 15:00:00 hours on a Banking Business Day, said resources must be transferred no later than the opening of the immediate next Banking Business Day.
   I acknowledge that the transfers I request herein regarding resources corresponding to my salaries or, as applicable, pensions, as well as other labor benefits, will begin to be effected (i) from the sixth Banking Business Day following the date on which the institution required to make said transfers receives this request, in case I have presented this request directly to that institution, or (ii) from the eleventh Banking Business Day following the day on which the institution required to make said transfers receives this request from the institution that will receive said resources, in case I have presented this request to the latter institution. In any case, I reserve the right to cancel this request at any time, subject to the cancellation order I present in terms of the format that the institution required to carry out the transfer requested herein must provide me. The transfers I request through this channel consist of those that credit institutions are obligated to carry out in accordance with Article 18 of the Law for the Transparency and

(First Section) OFFICIAL GAZETTE Friday, March 20, 2015 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.
[Once the client has accepted the terms and conditions referred to above, the institution must request that the client confirm the instruction using the corresponding authentication factors in terms of the applicable provisions for the execution of transfers of monetary resources to third-party accounts or other Institutions through Internet electronic banking.] KEY OR ELECTRONIC SIGNATURE (AUTHENTICATION FACTORS): []”

“ANNEX 4 BIS 1
Format to order at branches the cancellation of the transfer of resources corresponding to Labor Benefits [City*]_, [Federal Entity*], on [Day*] of [Month*] of [Year* ] [NAME OF ORDERING INSTITUTION ]:
I, [Name*][Paternal Surname*][Maternal Surname*], by my own right and by this act, instruct that the periodic transfer of resources corresponding to my salaries or, as applicable, pensions, as well as other labor benefits deposited in my account number _________________________________(eighteen digits of the Ordering Account*) held by _____________________(Ordering Institution), be canceled, to the account I have open in my name at the credit institution named ___________________(Receiving Institution) and identified with the account number ______________________ (eighteen digits of the Receiving Account*) or with the valid debit card number ______________________(sixteen digits of the debit card of the Receiving Account*). This request shall take effect no later than the second Banking Business Day following the date on which the present is received. Sincerely, __________________________________________ (NAME AND SIGNATURE OF THE CLIENT) This request has been received by _______________________[Name of the Ordering or Receiving Institution**] on [Day**] of [Month**] of [Year**] and, to follow up on its processing, the file number: __________[Number] has been assigned. *The data corresponding to these fields must be filled in by the client at the time of presenting the request. The data corresponding to these fields must be filled in by the Institution at the time of receiving the request.”

“ANNEX 4 BIS 2

Friday, March 20, 2015 OFFICIAL GAZETTE (First Section) Format to order via Internet electronic banking service the cancellation of the transfer of resources corresponding to Labor Benefits [NAME OF ORDERING INSTITUTION ]:
ORDERING ACCOUNT: [Enter CLABE Account or sixteen digits of Debit Card] ORDERING INSTITUTION: [Combo with short names of Banks] RECEIVING ACCOUNT: [Enter CLABE Account or sixteen digits of Debit Card] RECEIVING INSTITUTION: [Combo with short names of Banks] [THE ABOVE DATA MAY BE AUTOMATICALLY INCLUDED BY THE ORDERING INSTITUTION]. [Once the client fills in the corresponding fields and accepts the instruction, the system must make available to the client through a link, or display the legend contained in the following paragraphs, which must be accepted by the client.] By this act, I instruct the cancellation of the periodic transfer of resources corresponding to my salaries or, as applicable, pensions, as well as other labor benefits deposited in the account held by the Ordering Institution and which are transferred to the account held by the Receiving Institution. This request shall take effect no later than the second Banking Business Day following the date on which it is presented. [Once the client has accepted the terms and conditions referred to above, the institution must request that the client confirm the instruction using the corresponding authentication factors in terms of the applicable provisions for the execution of transfers of monetary resources to third-party accounts or other Institutions through Internet electronic banking.] KEY OR ELECTRONIC SIGNATURE (AUTHENTICATION FACTORS): [*]”

TRANSITORY PROVISIONS
FIRST. This Circular shall enter into force on October 30, 2015, except for what is provided in the following transitory article.
SECOND: Institutions that have previously contracted with the client for the client to carry out transfers of monetary resources to third-party accounts or other institutions, must be able to receive and process the respective requests through Internet electronic banking in terms of this Circular, starting from March 30, 2016. Mexico, D.F., March 17, 2015.- The General Legal Director, Luis Urrutia Corral.- Rubric.- The Director of Payment Systems, Manuel Miguel Ángel Díaz Díaz.- Rubric.- The General Director of Affairs of the Financial System, Jesús Alan Elizondo Flores.- Rubric. For any inquiries regarding the content of this Circular, please contact the Authorization, Consultations and Legal Control Department, at the phones (55) 5237-2308, (55) 5237-2317 or (55) 5237-2000 Ext. 3200.