What is the User Transaction Amount Limit (MTU) and How Does It Affect You?
In recent news, you may have come across the term MTU, which stands for Monto Transaccional del Usuario. This new regulation, introduced by Mexico’s Secretaría de Hacienda through the Comisión Nacional Bancaria y de Valores (CNBV), aims to reduce digital fraud, theft, and scams, which have increased by over 50% in the past five years.
MTU allows you to set limits on the amounts of money you send to third-party accounts via digital banking, adding an extra layer of security to your transactions.
What Happens If I Don’t Configure MTU?
If you don’t set up the User Transaction Amount Limit, your bank will automatically assign a suggested limit of 1,500 Unidades de Inversión (Udis), equivalent to approximately 12,800 Mexican pesos. This limit may vary depending on the bank and your account.
The good news is that you can adjust this limit as many times as needed through your banking app or by visiting your local branch, free of charge. While the bank proposes MTU settings for your accounts, you ultimately decide whether to accept the suggested limit or modify it based on your needs.
What is the Recommended MTU Amount?
For safety and control, you can set daily limits and per-transaction amounts according to your usual digital banking operations. Banorte recommends keeping the MTU low, based on your typical transaction amounts.
If a transaction exceeds the established limit, your bank will immediately notify you, allowing you to adjust the MTU on the spot if desired. You can even set the limit to zero pesos and modify it as needed.
Who Doesn’t Apply for the MTU?
According to the regulation published in the Diario Oficial de la Federación, these changes do not apply to Level 1 bank accounts (those receiving up to 750 Udis or approximately 6,409 Mexican pesos per month), nor their associated services, credits, and debit or credit cards. Additionally, the total balance of such accounts cannot exceed 1,000 Udis, equivalent to around 7,800 Mexican pesos.
The MTU does not apply to legal entities, transfers between personal accounts, or purchases of credit and debit cards in physical or virtual stores.
Key Questions and Answers
- What is MTU? The User Transaction Amount Limit (MTU) is a regulation that lets you set limits on the amounts of money you send to third-party accounts via digital banking, enhancing security.
- What happens if I don’t configure MTU? Your bank will automatically assign a suggested limit of 1,500 Udis (approx. 12,800 Mexican pesos), which you can adjust as needed.
- What is the recommended MTU amount? Set daily and per-transaction limits based on your usual digital banking operations for safety and control.
- Who doesn’t apply for the MTU? Legal entities, transfers between personal accounts, and purchases of credit/debit cards in physical or virtual stores are excluded from MTU.
