Over the last few years, the use of credit and debit cards has increased in the Mexican market, which is why it is important that organizations exist, such as the National Commission for the Protection and Defense of Users of Financial Services (Condusef) to look after their users.
However, many times the powers of the National Commission for the Protection and Defense of Users of Financial Services (Condusef) fall short, so other organizations have to intervene. Such was the recent case of the Supreme Court of Justice of the Nation (SCJN), which resolved that the Banks have the obligation to refund money to their credit card account holders.
Under this understanding, we will immediately take care of telling you the reason why banks like Citibanamex, BBVA, Banorte, Santander and Banco Azteca They must return money to their clients.
Over the course of recent years, as reported by the National Commission for the Protection and Defense of Users of Financial Services (Condusef), the use of credit and debit cards has increased, as well as financial operations in general.
Therefore, it is necessary to have regulations that protect users of financial services, especially when the powers of Condusef are not sufficient. It was in this context that, recently, the Supreme Court of Justice of the Nation (SCJN) ruled that Financial institutions must refund account holders when improper charges are made on their credit cards..
“In the event of an improper charge, banks must return the money with default interest,” can be read in the post published from the official account of the social network X (formerly Twitter) of the SCJN.
Thus, the First Chamber of the Supreme Court established, through a ruling endorsed by the ministers, that banks such as Santander, BBVA, Citibanamex and Banorte will have to return the money with default interest to their clients. when an improper charge has been made.
With the above, banking entities have the duty to respond for improper charges on bank cards and, if they do not do so, pay a late payment interest of 6%, counted from the date on which the client gave notice of the problem.
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