If you are an account holder of banks such as BBVA, Banorte, Citibanamex and others that have operations in the Mexican national territory, it will be important for you to know the warning recently made by the National Commission for the Protection and Defense of Users of Financial Services (Condusef).
It was in the May 2024 edition of the magazine Protect your money where the National Commission for the Protection and Defense of Users of Financial Services (Condusef) announced What are the 4 types of purchases that do not ask for PIN when paying with bank cards.
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Thus, according to what is detailed by the Ministry of Finance and Public Credit (SHCP), the following are the purchases in which the PIN is not requested when using credit cards or debit cards:
*Amounts less than 300 pesos: Although there is no official consensus to establish a minimum amount in which the purchase authorization can be omitted without having to enter your PIN, the truth is that there are stores or establishments where you can make purchases from $1 or commonly up to $300 pesos (maximum amount may vary), where payment happens automatically. This is mainly because, due to the low amount, there is no great risk for the financial institution or the buyer.
*Purchases with NFC technology: The second most popular case where there will be no need to enter your PIN to authorize purchases from an establishment is when you use NFC or (Near Field Communication) technology, since all you have to do is bring your credit or debit card close to it. the bank terminal and the purchase will automatically pass.
*Online purchases: This is because when using digital cards, the use of the physical version of plastic is omitted. However, on the contrary, you must usually enter the CVV or security code of the card, unlike the PIN, these are 3 digits that are requested for telephone or internet purchases.
*Domiciliated charges: A fourth case is when you have charged your credit or debit card a recurring or direct debit charge, for example, a subscription to Netflix or another type of streaming. Although as in the previous example, it will be necessary for you to use your CVV.
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