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If you are one of those who frequently use a checkbook to make or receive payments, the National Council for the Protection and Defense of Users of Financial Services (Kondusev), announcing the fees for issuing a check, as well as the penalties for attempting to issue a check overdraft At the counter or clearinghouse.So if you are a user BBVA, Banorte, Banamex and Santandercheck the amount of the penalty you will be charged bank.
On average, each account can issue 5 free checks per month, however, there are some institutions such as BBVAamong their Libretón Premium products, none of them are free, instead imbursain its EFE account product, there is no minimum or maximum limit for issuing checks in a month, and there are no fees for the service.
Regarding the cost of writing additional checks, the commission charged ranges from 13 to 18 pesos; however, some institutions such as Azteca Bank In its Guardadito Checks product, the fee is only 5 pesos, followed by bank Its product, a valid checking account, costs 6 pesos.The highest ratio is BBVA– Libreton Premium- 18 pesos, e.g. Scotiabank – Scotiabank checking book account average balance – and Banault Link accounts with individuals.
You can also read: Do you have an Afore account with Azteca, Coppel or Banamex?Check your balance
Be careful about this punishment
Average fees per check returned at the counter range from 250 pesos to over 1,000 pesos; some institutions like BBVA In its Libretón Premium product, the fee is 1,020 pesos, while Banco Azteca’s Guardadito Checks charges a 500 pesos penalty for each returned check, with the lowest commission coming from Bancoppel’s cash account checking product, which has a 250 pesos penalty.
Advice on checkbook use and management
according to Kondusevhere’s what you should be careful about:
- When they give you the checkbook, verify with your supervisor that no checks are missing, otherwise report it immediately so appropriate action can be taken.
- Under this law, checks are payable when they are submitted for collection, regardless of the date shown on them, so the bank will pay even if the document shows a later date.
- Ask your bank about the commission charged for issuing each type of check and the procedures to follow when canceling a check.
- Remember that the characteristics of our signature change over time, so it is recommended that you update it in your bank’s files from time to time to avoid check payments being declined.
- If a check is lost or stolen, report it immediately to your bank and your bank will tell you the procedure for canceling a check.
- Keep in mind that constantly carrying your checkbook with you increases the risk of losing it, or of someone stealing one of your checks without you realizing it and cashing it before you notice it’s gone.
- If you make a mistake when preparing a check, it’s a good idea to make a new one because payment cannot be made if the check is altered, damaged, or destroyed.