EconomyFinancialOxxo will stop receiving deposits for Citibanamex clients

Oxxo will stop receiving deposits for Citibanamex clients

Citibanamex customers will no longer be able to make or receive deposits in Oxxo stores as of May 1.

The bank reported this Thursday that after a review of the network of correspondents, the license it has with the convenience store chain was not renewed, so deposits can no longer be made to debit accounts or payments from Citibanamex credit cards.

"As an alternative, customers may carry out their operations through Mobile Banking, BancaNet, toll-free ATMs and branches, as well as in the following establishments: 7 Eleven, Casa Ley, Farmacias del Ahorro, Farmacias Guadalajara, Telecomm and the chains of Chedraui and Al super self-service stores, "Citibanamex reported.

On the Oxxo side, he reported on social media that the banks with which he will still have a correspondent alliance are BBVA, Santander, HSBC, Scotiabank, BanCoppel and Inbursa.

In addition, Oxxo reported that Citibanamex customers will be able to make cash withdrawals at the store's checkout counters.

It is not the first time that banks decide to cancel the contract with Oxxo, in April 2019 Banorte also decided not to renew its contract with the chain.

"They are annual programs that can be renewed or not, this time we are in possible negotiations and in the meantime we are not renewing," Banorte CEO Marcos Ramírez said at the time.

Carlos Slim or Germán Larrea, who will stay with Banamex?

Both businessmen are the favorites to buy Banamex, last week new proposals were presented for the purchase of the business.

Mexico will have 1.29 billion pesos of income via debt in 2023

According to Gabriel Yorio, Undersecretary of Finance, the amount is in line with the goal of maintaining debt as a percentage of GDP in a constant and stable manner.

Treasury rules out banking concentration in the purchase of Banamex

After Banorte's exit from the bid, the Treasury highlights that there is the possibility of greater competition that benefits bank users.

Inbursa suspends its interest in buying Banamex

Inbursa's investor relations director, Frank Aguado, declined three times to comment on the firm's interest in buying the bank.

Mexico has 21,334 million pesos in abandoned bank accounts

The CNBV reported that Banamex, BBVA and Banorte are the three financial institutions with the highest amount of accounts abandoned by banking users; represents 0.3% of traditional deposits.

More