1. What is MTU and Why is it Important to Update It?
MTU, or Monto Transaccional del Usuario (User Transaction Amount), is a personalized limit that sets how much money you can transfer or move through digital channels each day. According to Anexo 12-E of the Circular Única de Bancos, its purpose is to strengthen security controls and prevent fraudulent operations.
If you don’t set your MTU, the bank may assign one based on your history. However, if they fail to notify you or don’t set a limit, your transfers could be blocked, or you might not be protected against unrecognized operations.
2. How Does MTU Protect Against Fraud?
According to financial regulation consultant Samanta Beltrán, MTU functions as a security barrier. When a digital transfer exceeds your limit, the institution is obligated to request an additional authentication factor (app, encrypted message, or call). This makes it difficult for fraudsters to execute transfers even if they obtain your data through deception, as extra validation is mandatory.
3. What Happens if You Don’t Set Your MTU Before September 30?
Your bank will automatically set a daily limit of 12,800 pesos, considered a reasonable reference for everyday transactions and intended to limit potential fraud. This amount is provisional, and you can modify it whenever you want. However, if you don’t take action, you might be limited or, in cases of fraud, only transactions up to that amount will be processed. If the bank performs transfers exceeding that amount without proper authentication, they must take responsibility and reimburse any unauthorized amounts.
4. Does MTU Exempt You from Responsibility in Case of Fraud?
The consultant explains that if you voluntarily provide your keys or authorize operations through deception, you are equally responsible for the fraud. However, if the bank fails to enforce the additional filter when exceeding the MTU, the institution must reimburse the amount.
5. What Should Vulnerable Individuals Do?
Older adults, individuals with disabilities, or other vulnerable users can self-declare to their bank for special attention and protection. This measure also requires banks to implement preventive actions, such as financial education, antifraud campaigns, proactive monitoring, and personalized attention, according to the expert.
To avoid complications and safeguard your resources, set your MTU in your banking app before the deadline expires. Regularly check that the limit is correctly registered and never share keys, passwords, or codes, even if a communication seems to be from the bank, concludes the expert.
Key Questions and Answers
- What is MTU? MTU, or Monto Transaccional del Usuario, is a personalized daily limit for digital transactions to prevent fraud.
- Why is it important to set my MTU? Setting your MTU ensures you have control over your daily transaction limits and helps prevent unauthorized transactions.
- How does MTU protect against fraud? MTU requires an additional authentication factor when a transfer exceeds the limit, making it harder for fraudsters to execute unauthorized transactions.
- What happens if I don’t set my MTU before the deadline? Your bank will automatically assign a daily limit of 12,800 pesos. You may face limitations or reduced protection in case of fraud.
- Is MTU a guarantee against fraud responsibility? While MTU helps prevent unauthorized transactions, you remain responsible if you voluntarily share your keys or authorize operations through deception.
- What should vulnerable individuals do? Vulnerable users can self-declare to their bank for special attention and protection. Banks are also required to implement preventive measures.
