Bank Deposit Insurance: Who Qualifies and What You Get
Learn how this protection secures your bank deposits in Mexico up to a specific limit if your financial institution fails.
Bank Deposit Insurance is a protection system designed to safeguard your money held in bank accounts if a financial institution becomes unable to meet its obligations.
Who it's for
This protection is available to all bank account holders.
What you get
If your bank fails, your deposits are covered up to a limit of 400,000 UDIs. The UDI is a specialized unit of value used by the government to adjust for inflation.
What it costs you
There is no cost to you. The coverage is applied automatically to your accounts, so you do not need to take any specific action to be protected.
The catch to know
This insurance only covers deposits held in regulated banks. It does not protect money held in other types of financial institutions that do not fall under these specific regulations.
How to apply
- Verify that your bank is a regulated institution.
- Ensure your deposits are within the coverage limit.
- In the event of a bank failure, follow the instructions provided by the official authorities.
- For more details, visit the official portal: https://www.gob.mx/ipab