08102020Mon
Last updateFri, 07 Aug 2020 12pm

New rules on checks in Mexico

Going to the bank to pay a bill with a check from your account? You may get a surprise at the teller’s window.

Your checks are blocked until you “liberate” them. This is another layer of banking security and most probably a way for Mexico’s Finance Secretariat to see where funds are being moved.

A new rule instigated by Mexico’s central bank has banks scrambling to show customers how to be able to make checks they write cashable.

According to an HSBC executive in Guadalajara, as of May 25, all checks from banks must be “protected” by registering the check number, amount and beneficiary using the online banking tools provided by each bank.

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