What is Geolocation?
Geolocation is a technology that identifies the physical location of an electronic device, expressed in geographic coordinates: longitude and latitude (It does not specify addresses).
Why do I have to share my location with the bank?
Because it is mandatory for all Mexican banks, and it further enhances the security of digital transactions made through Mobile or Online Banking.
Which law mentions these measures and where can I find it?
This is an international practice in effect in 37 countries, members of the Financial Action Task Force (FATF). The Provisions Relative to Article 115 of the Credit Institutions Law are located on the website of the Mexican Ministry of Finance and Public Credit at https://www.gob.mx/shcp and on the National Banking and Securities Commission website at https://www.gob.mx/cnbv.
When does this mandatory location-sharing begin?
March 23rd, 2021. When you enter any of our platforms, we will ask for your authorization to know your location.
Why is Geolocation necessary in Online Banking?
This new regulatory security measure gives us more tools for protecting your money and your account activity, and it helps us detect and prevent any kind of financial crime.
Will the bank know where I am at all times?
No. We will only collect geolocation data when you enter our digital channels, and only when the app is in use. We record only the devices, not the phone number.
Is my geolocation connected to my Client number, account or any service?
The geolocation data from your device will be referenced to the Client number and/or account
What happens if I do not want to share my location with the bank?
If you decide not to share your geolocation you will not be able to do any remote banking, but you can continue using your products and services in person, at any branch, ATM’s and correspondent banks.
Will my service be blocked if I do not authorize access to my location?
No. Your accounts will not be affected by your decision to not share your location, but you will not be able to use remote banking.
Will my location data be shared with anyone else?
No. Your data are protected by the highest standards of security and confidentiality. We are permitted only to share your information by official order if the authorities request it.
Do I have to activate my GPS when I use any digital platform?
Yes, this is necessary in order to access the device location.
Do I have to authorize access to my location multiple times, one for each platform?
Yes. These are different platforms, so you need to authorize geolocation in each of them from the device you’re using.
Do I have to authorize access to my location every time I enter the digital platform?
You only need to authorize access to your device’s geolocation once, when you enter the app.
What happens if I change my device, like a new computer or cell phone, and I want to use digital platforms?
You will need to re-authorize the location access with every new device.
What happens if I change my browser (Google Chrome, Internet Explorer, Safari) and want to enter digital platforms?
If you use various browsers, you will have to authorize access to geolocation in each one.
What happens if I delete my mobile app and download it again?
Depending on your bank, you may have to re-authorize geolocation access.
If I am traveling, can I still use my account?
Yes. When you authorize geolocation access in your device, you can still use the bank’s platforms anywhere in the world, and do your banking with greater security.
For more information contact your Relationship Manager or visit CONDUSEF website: condusef.gob.mx