Banorte and BBVA account holder? You will start receiving this new document from June

The use of the Credit cards It is increasingly widespread in the Mexican national market, so if you are a cardholder of the Banorte and BBVA banks You will be interested to know that starting this month of June you will begin to receive a new document, what is it about?

And for weeks now, the National Commission for the Protection and Defense of Users of Financial Services (Condusef) announced that it would be starting next October of this 2024 when all banks compulsorily deliver the credit card account statement in universal status.

However, both Banorte and BBVA have announced that it will be from this month of June, more specifically from Monday the 10thwhen they will begin to send their account holders the account statement in universal format.

In this sense, as detailed in the document of the body of the Ministry of Finance and Public Credit (SHCP), the objective of the new Universal Credit Card Account Statement is for the document to be clear for account holders to read.

“By official provision, all financial institutions that issue credit cards must provide users of this product with a universal account statement, that is, a similar format in both form and content,” it states.

It should be noted in detail that the issuance of this document applies to all Credit Institutions and Multiple Purpose Financial Companies, Regulated Entities (Sofom, ER) that issue credit cards throughout the Mexican national territory.

It should be remembered that it was in December 2022 when the agreement was published in the Official Gazette of the Federation (DOF) by which the Credit Institutions and Sofom, ER, were informed. the new universal credit card statement format for individuals, as well as the filling out guide.

This is how the universal credit card statement format It will have to contain the aspects of the banking plastic in a complete, detailed and orderly manner, and among the most notable are the following:

*Information about the payment required

*Period

*Cutoff date

*Payday limit

*Payment not to generate interest

It should be noted that this new credit card document also It will have to contain estimates of how much the account holder will pay in interest, as well as the time it would take to settle the debt if it is done by paying only the minimum, or two times or up to five times the minimum..

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