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$9,600 pesos is about $500 US.  I do not think I have ever taken out even close to that much. If this becomes law, perhaps the ATMs will simply have to put a limit on how much one can take out at any one time. You know, less than $9,600 pesos.

Even in the states the average amount taken out is $200 US or less, according to my B/A branch manager. So this rule will not impact many folks. And if you need more than $9600 pesos, you might just have to make two or more transactions or withdrawals.

 

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This from yesterday's Mazatlan Post.  https://www.planetbiometrics.com/article-details/i/10757/desc/santander-mexico-improves-security-through-biometrics/

Quote

Santander Mexico has begun to register customers’ biometric data to make their transactions more secure. The entity will invest one billion pesos in the next five years and expects to register more than 3.7 million customers in the country during the first stage.Biometric security was set as a requirement for banks in Mexico in 2019 and Santander is already well on the way to implementing its solution.

The data obtained will be used when a customer carries out in-person transactions such as balance enquiries or debit card withdrawals of over 10,000 pesos or when they open an account. Identifying a customer using this system will make it possible to detect any attempted identity theft.

 

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20 minutes ago, johanson said:

$9,600 pesos is about $500 US.  I do not think I have ever taken out even close to that much. If this becomes law, perhaps the ATMs will simply have to put a limit on how much one can take out at any one time. You know, less than $9,600 pesos.

Even in the states the average amount taken out is $200 US or less, according to my B/A branch manager. So this rule will not impact many folks. And if you need more than $9600 pesos, you might just have to make two or more transactions or withdrawals.

 

I normally take out 12,000 pesos at a time. It is my money that I am accessing. My bank would even allow me to take more. So if I am forced by Mexico to take less out more often it will cost me more to live here. Not good.  

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12 minutes ago, cedros said:

I normally take out 12,000 pesos at a time. It is my money that I am accessing. My bank would even allow me to take more. So if I am forced by Mexico to take less out more often it will cost me more to live here. Not good.  

I guess that might be another reason to open up a bank or brokerage account and wire the funds needed directly to the brokerage account at a better exchange rate. And no, I am not charged a fee every time I wire money to my Mexican account

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I have a bank account here. I don't need to wire money. I can go on my computer and send money from my Canadian bank to my Mexican account. It is instant, free, and a good rate. But that would mean I would have to use my Mexican ATM card to get the money out of my Mexican account-there is the problem-lower limits and an ATM fee. 

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25 minutes ago, cedros said:

But that would mean I would have to use my Mexican ATM card to get the money out of my Mexican account-there is the problem-lower limits and an ATM fee. 

There is no lower limit, will just have to use fingerprints for some transactions. 

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1 minute ago, Mostlylost said:

On Facebook:   Men from Mars arrived in Washington DC in 1956 and have been covering up their existence ever since.

????what?   I maybe get it now. It is on Facebook-should you believe it

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Just now, peteben said:

I think a lot of the ATMs we use already have a fingertip reader. That little window, with the green light? That's what it looks like to me, but I could be wrong.

Pete

 

Is that different than the one that takes your picture when you make a withdrawal?

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Bancomer, now BBVA, has fingerprint slots on their ATMS as well as at the window. 

Both visa holders and citizens have their fingerprints in one or more systems within Mexico already. US passport holders have the same as well as face images used at Global Entry points. Biometrics should help keep systems more secure although it does make it easier for the government to find the bad guys.

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59 minutes ago, HDTVStreamers said:

Damn my finger got cut off!

Not funny...some of us have actually had a finger cut off.  What is fairly humorous is when you go to a real estate closing or for something else where you need to have fingerprints taken. The usual person at the "window" has to call for a supervisor.

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On 1/29/2020 at 2:00 PM, johanson said:

I guess that might be another reason to open up a bank or brokerage account and wire the funds needed directly to the brokerage account at a better exchange rate. And no, I am not charged a fee every time I wire money to my Mexican account

Those of us without your financial resources do not have the same options you do. The less money you have the more it costs to get it.

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4 hours ago, Mostlylost said:

Link to story in Mazatlan Post?  Story linked earlier was about Santander

Read again. This is required by government law in 2019. They have given banks five years to comply.

Also possible to make silicone prints, from even a dead person, lets say. 

I think a day is coming when we all be implanted with low frequency RFID chips, like they currently use for pets. The chips are all the rage with silicone valley cool kids. They get implants in their wrists which can open security doors without a card swipe.

 

 

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 After reading the 2 laws (2017 & 2019) if you do not have a bank account in Mexico the biometric identification doesn't apply as I read both regulations.

The law does talk about verifying identity by checking the fingerprint against the INE system to verify identity. Since only Mexican citizens have INE identification all your bank can do is take your print at some time to register you in the individual bank's system if you are a foreigner.

 So  If you are only using the ATM for withdrawal of cash using an inter bank system there is no need for fingerprint not from a Mexican bank account  it doesn't apply 

 

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8 minutes ago, Mostlylost said:

 After reading the 2 laws (2017 & 2019) if you do not have a bank account in Mexico the biometric identification doesn't apply as I read both regulations.

The law does talk about verifying identity by checking the fingerprint against the INE system to verify identity. Since only Mexican citizens have INE identification all your bank can do is take your print at some time to register you in the individual bank's system if you are a foreigner.

 So  If you are only using the ATM for withdrawal of cash using an inter bank system there is no need for fingerprint not from a Mexican bank account  it doesn't apply

Thank you for loooking that up Mostlylost. My Spanish levels are still.not strong enough. I am seriously working on it though, I want to be able to pass the citizen exam, and also the Licenciado exam in Guadalajara (just for the heck of it). I qualify under the international relations category.

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