Do you have an account with BBVA, Banorta or Santander? Check this out as it may affect you

Written in MONEY the

The House of Representatives the recently approved reform to amend Article 61 of the Law on Credit Institutions (LIC), through which it is proposed that the resources inactive accounts in banks for more than six years they have been used for training programs security.

In accordance with the current Law on Credit Institutions, if the funds are not claimed in the next three years, their rights are prescribed in favor of public charityin the event that the condition on account do not exceed 300 units of measurement and updates (MIND). The current value is $96.22 pesos, so the limit corresponds to $28,866 pesos.

account balance

According to data from the National Banking and Securities Commission (CNBV), at the end of August, the state of the said accounts amounts to HRK 21,334 million pesos.

Six institutions account for 94% of the total number Global deposit account without the movement of institutions (CGCSM) of Multiple bankingthe category in which inactive accounts.

Is account contains balance accounts which for three years showed no movement by its owner. According to the current Law on Credit Institutions, if the funds are not claimed in the next three years, their rights are prescribed in favor of public charityin case it is account balance do not exceed 300 units of measurement and update (UMA). The remaining resources are kept in a global account.

Check where you have your account

At the end of August 2022, the institutions that reported the largest participation in the amount were registered in Global deposit account without the movement of institutions they were:

  1. Banamex (30.4%; $6.477 million from pesos)
  2. BBVA Mexico (27.6%; $5,882 million)
  3. Banorta (15.8%; $3,374 million)
  4. Santander (10.5%; $2.241 million)
  5. HSBC (5.2%; $1,116 million)
  6. Scotiabank (4.5%, $963 million)

These six institutions accounted for 94.0% of the amount registered in CGCSM.

The CNBV explained that the original text of Article 61 of the ZLIK considers 300 days from Minimum wage General in force in Mexico City. With the entry into force of the decree published in the Official Gazette of the Federation (DOF) on January 27, 2016. Minimum wage as a unit of account, index, base, measure or reference for determining the amount of obligations and assumptions provided by federal, state laws, as well as in any legal provision arising from all of the above, will be considered as a reference to the unit of measurement and update.

The Association of Banks of Mexico (ABM) said that they will ask that the resources accounts that has remained inactive for six years can be claimed or returned after that period, provided users can authenticate and prove that they are money lawfully.

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