Citibanamex is selling the part of Banco Nacional de México (Banamex) and Citi keeps the part of institutional clients, this has already happened on other occasions, such as when Banorte bought Ixe; BBVA to Bancomer, and Inbursa to Banco Walmart, explained the Commission.
What will happen to my Citibanamex account or credit?
Your bank account will continue to operate in a “normal” way and your money will not be at risk and the credits you have obtained must be paid as you have been doing.
In this regard, Citibanamex has sent emails in which it explains that clients, shareholders and collaborators “will benefit from this decision”, and that “you can rest assured that your assets are safe.”
“Citibanamex will continue to operate normally and without affecting you, innovating and improving our offer. Our branches, offices and service channels will assist you as always,” the bank said in the message.
The situation would be different when the financial authorities revoke the license to operate as a bank, in the event of a bankruptcy -something that is not happening with Citibanamex-. In that case, it would initiate a liquidation process. This does not mean that you will lose your money or that you will stop paying the credits.
The cash is protected by the Institute for the Protection of Bank Savings (IPAB) and will be returned to you -up to 400,000 UDIS, about 3 million pesos- and the credits will continue to be paid normally until they are settled.
What am I entitled to when I change ownership?
Your rights do not change, because you signed a contract and the new administration must respect it.
In case of any modification in the clauses of the contract, or they want to change the commissions that they charge you, the bank is obliged to inform you about the new conditions to which the product you have contracted will adjust. In this scenario, you have every right to cancel if you do not agree with these modifications, detailed the Condusef.
For example; If you have a credit card and their commission increased, you must pay off the debt, if it exists, and then cancel it. If you don’t have an outstanding balance, just cancel it.
In the event of any controversy, the Condusef advises and supports you in the event that the bank is not fulfilling any part of the contract.