Understanding the Monto Transaccional del Usuario (MTU)
To combat digital banking fraud, a new security scheme called Monto Transaccional del Usuario (MTU) will be implemented starting October 1. This measure aims to set limits on the amounts of money you can transfer to other accounts through mobile banking and online platforms.
While the process for adjusting your MTU may vary depending on your financial institution, here’s how BBVA, Mexico’s largest bank, handles it:
- Open the BBVA app
- Access the menu
- Go to settings
- Select operation limits
- BBVA offers three options: limit per transaction, daily limit, and monthly limit
BBVA clarifies that to revert to the pre-set operation limits, you must visit a bank branch.
Can the MTU be changed?
Yes, you can modify your MTU as often as needed at no cost. Financial institutions must allow users to adjust their MTU through electronic means or in-person at bank branches. The modification process requires at least two factors of authentication for electronic changes, according to the Diario Oficial de la Federación.
Once the MTU is adjusted, it takes effect after the bank sends a notification of the change via secure instant messaging, phone call, or email with encryption protocols. The user must confirm the action to finalize the new limit.
What if I need to perform a transaction exceeding my MTU limit?
If your mobile or online transaction surpasses the MTU, financial institutions will require an additional authentication factor beyond those already established. This extra verification can be requested through secure instant messaging, phone calls, or encrypted emails.
How prevalent are fraud cases in Mexico?
According to the National Survey of Victimization and Perception on Public Security, fraud is the most common crime in Mexico. In 2024, there were 7,574 fraud cases per 100,000 inhabitants, surpassing crimes like street or public transport robberies, extortion, threats, and carjacking.
In 2023, fraud affected 6,962 out of every 100,000 inhabitants. Unfortunately, many fraud cases go unreported.
Key Questions and Answers
- What is the MTU? The Monto Transaccional del Usuario (MTU) is a security measure that sets limits on the amounts you can transfer to other accounts through mobile banking and online platforms.
- How do I change my MTU? You can modify your MTU as often as needed through electronic means or in-person at bank branches, requiring at least two factors of authentication for the change.
- What happens if I need to make a transaction exceeding my MTU limit? Financial institutions will require an additional authentication factor for transactions surpassing the MTU limit.
- How common are fraud cases in Mexico? Fraud is the most prevalent crime in Mexico, with 7,574 cases per 100,000 inhabitants in 2024, surpassing other common crimes.
