Mexico's central bank regulates bank charges

Seeking to protect people who use the services of the banks in our country, the Bank of Mexico provides new rules on fees.

From 22 July 2009, the bank is prohibited from charging the following committees:

1. In deposit accounts in sight, such as checking and payroll may not be charged together in the same period, account management fees and no minimum balance.
2. In no case may charge fees to a client for having checks deposited in your account that are returned for any reason.
3. When banks set as a condition of a loan that the customer opens a deposit account to make credit payments, may not charge fees on the above account the following concepts: i) opening, ii) management, and iii) failure to maintain a minimum balance.
4. No fees may be charged for exceeding a client or attempt to exceed the balance on your debit card. It is noteworthy that the law provides a similar provision for credit cards.
5. No fees may be levied by cancellation of deposit accounts.
6. No fees may be levied by cancellation of credit cards or debit cards.
7. No fees may be levied by cancellation of direct debit payment for goods and services.
8. Nor are no fees for the cancellation of the Internet banking service.
9. In the case of funds transfer orders, institutions may not charge fees differentiated by the amount of transfers requested their customers.

Know when you should not charge fees for you to defend against the abuses of the banks and other financial institutions.

source: economia.com.mx