Understanding the Bank Holiday
On November 17, banks in Mexico will be closed due to a mega-bridge established by the National Banking and Securities Commission (CNBV) and the Federal Labor Law. This day off commemorates the anniversary of the Mexican Revolution, a significant historical event in Mexico’s history.
Who is the Mexican Revolution relevant to?
The Mexican Revolution, which began in 1910, was a major armed struggle between the government and various factions of Mexican peasants, indigenous people, and local communities. It resulted in profound social, political, and economic changes that continue to shape Mexico today. Understanding this event is crucial for appreciating the cultural and historical context of modern Mexico.
Bank Operations During the Holiday
The Association of Banks of Mexico (ABM) has confirmed that only electronic services and alternative channels will remain operational on November 17. This means that while bank branches will be closed, customers can still access ATMs, correspondent services, and digital banking platforms.
What does this mean for customers?
- ATMs: Customers can withdraw cash from ATMs as usual.
- Correspondent Services: Banks will continue to offer correspondent services, allowing customers to make deposits and withdrawals at authorized locations.
- Digital Banking: Online banking, mobile apps, and other digital platforms will remain fully functional.
It’s important to note that while bank branches will be closed, some banks located within supermarkets and commercial stores will operate according to their regular hours, despite it being a public holiday.
Preparing for the Holiday
The ABM advises customers to anticipate any necessary in-person transactions before the holiday and utilize electronic channels for urgent operations. This proactive approach can help minimize any potential inconvenience caused by the bank closure.
Key Questions and Answers
- Why are banks closed on November 17? Banks are closed due to a mega-bridge established by the CNBV and the Federal Labor Law, commemorating the anniversary of the Mexican Revolution.
- What bank services will remain available? ATMs, correspondent services, and digital banking platforms will continue to operate.
- Will bank branches within supermarkets and stores be open? Yes, these branches will operate according to their regular hours.
- What should customers do to prepare for the holiday? Customers are advised to complete any necessary transactions beforehand and utilize electronic channels for urgent operations.
