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Why banks in Mexico will close for the first time in October 2024 – Grupo Milenio

The National Banking and Securities Commission (CNBV) is in charge of publishing non-business days of financial institutionsbut this 2024 There is one that stands out because it is the first time that the banks close that day and here we tell you the date and the reasons.

Like few services, banks have a calendar Of course with those days where the branches remain closed due to the relevance of the activities carried out there, such as payments, collections, money withdrawals and personal procedures.

Financial institutions are participants in the financial market by capturing resources from the public and then investing them in assets such as bank deposits, securities and securities. At the same time, they can be identified as an intermediary, advisor, credit provider, insurance and many other functions.

What day in 2024 will the banks be closed?

The CNBV publish the non-working days during 2024, of the financial entities subject to its supervision, being one of the closest and extraordinary Tuesday, October 1.

As you know, the dates on which banks remain closed mostly coincide with holidays; Therefore, the rest of the year these days will be:

  • Saturday November 2
  • Monday, November 18
  • Thursday December 12
  • Wednesday, December 25

According to the official provision, lyou general stores deposit and exchange houses They will be able to open their doors, operate and provide services to the public every day of the year 2024, as long as they follow the instructions of the Official Gazette of the Federation.

Why banks in Mexico will close for the first time in October 2024 – Grupo Milenio
Banks can open on non-business days, but must apply. (Special)

Why don’t the banks open on October 1?

For the first time in history, this year this official day will be integrated, which will apply every six years for the transition of Power of the Federal Executive.

This new holiday and non-working day is due to the modification of article 84 already General Law of Electoral Institutions and Procedures is that on October 1, 2024.

More than an extra day, this date is the one that corresponded to December 1 of each six-year term, when Mexico changed the head of the Federal Executive Branch.

However, banks that offer their services inside commercial stores and supermarketswill open to the public this day, at traditional times.

The Association of Banks of Mexico (ABM) He reminded the population that it has at its disposal more than 63 thousand ATMs throughout the country and nearly 53 thousand banking correspondents.

“It is worth mentioning that the Law for the Transparency and Regulation of Financial Services establishes that, in the event that the deadline for a payment corresponds to a non-business day, the payment may be made on the following business day,” said the ABM.

What actions can you perform from an ATM?

The banks will be closed, however, you can help yourself to the ATMs which are available in most branches.

At an ATM you can make different actions such as checking your balanceas well as withdraw money and in some cases, some are conditioned so that you can make deposits to the accounts of the same institution.

DMZ

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