Mexico

This table summarizes key details to help you manage your virtual account efficiently:

Property	SPEI	TEF	SPID
SLA payment confirmation	Real Time 24/7	T+1 cut off 5PM (UTC-6)	T+1 cut off 6AM and 3PM (UTC-6)
Processing Currency	MXN	MXN	USD
Minimum transaction amount	1.00 MXN	1.00 MXN	1.00 USD
Maximum transaction amount	1,000,000,000.00 MXN	1,000,000,000.00 MXN	10,000,000.00 USD
Local Account format	Name: CLABE Length: 18 digits Type: numeric Example: 014123456789012345	Name: CLABE Length: 18 digits Type: numeric Example: 014123456789012345	Name: CLABE Length: 18 digits Type: numeric Example: 014123456789012345
Clearinghouse	Banco de Mexico	CECOBAN	Banco de Mexico
Beneficiary Type	Local and Foreign Residents	Local and Foreign Residents	Local and Foreign Residents
Virtual Account creation model	Online Individual Online Batch Offline	Online Individual Online Batch Offline	Offline
Payer Type	Individual and Company	Individual and Company	Company

For detailed information on service times and conditions, please see our article on Service Level Agreements (SLAs).

Country-Specific Account Details

In Mexico, local bank transfers in Mexican Pesos (MXN) are conducted through two main clearing systems:

• SPEI (Sistema de Pagos Electrónicos Interbancarios): a real-time interbank payment system operated by Banco de México, enabling fund transfers between banks within seconds. Transactions typically settle instantly, and accounts must be identified using the standardized CLABE number.

• TEF (Transferencia Electrónica de Fondos): a payment method in Mexico operated by CECOBAN used for interbank transfers, where transactions are processed on the next business day. It requires the standardized CLABE account number for identification, is only available on business days according to the Mexican banking schedule, and is commonly used for payments that are not time-sensitive, such as scheduled supplier disbursements or recurring transfers where immediate settlement is not required.

For U.S. Dollar (USD) transfers between Mexican bank accounts, we provide access to SPID.

• SPID (Sistema de Pagos Interbancarios en Dólares): is the specialized Mexican payment system for domestic, interbank transfers in U.S. Dollars. It enables companies based in Mexico to move USD funds efficiently between accounts held at different banks within the country.

  How SPID Works:

  • Processing Schedule: Available on Mexican banking business days, between 8:00 AM and 5:00 PM (UTC -6). Transactions are processed in batches throughout the day.

    For same-day credit, you must initiate and confirm your payment before 3:00 PM (UTC-6).

    Any payment submitted after this time will be queued and processed at 6:00 AM (UTC-6) of the next business day.

  • Account Requirement: Transactions are processed using the standardized CLABE number for the recipient's USD account.

  • Typical Applications: Best suited for B2B payments, international supplier settlements, and other corporate treasury operations where funds must remain in USD.

CLABE (Clave Bancaria Estandarizada)

The CLABE is a unique 18-digit number that identifies any bank account in Mexico for receiving and sending interbank transfers. It's the standardized equivalent of an account number for transactions between different institutions. Every bank account has a unique CLABE.

CLABE Format

Position	Length	Description	Example
1–3	3 digits	Bank Code (assigned by Banxico)	646 (STP Bank)
4–6	3 digits	Branch Code (geographic location)	180
7–17	11 digits	Customer Account Number	15700012345
18	1 digit	Control Digit (checksum validator)	6

Make transfers to virtual accounts

To fund a Virtual Account in Mexico, customers must initiate a bank transfer from their own banking application. The exact transfer flow depends on the customer’s bank app. Depending on the options provided, the user may be able to choose between SPEI, which processes the transfer instantly, or TEF, which processes the transfer on the next business day.

SPEI and TEF

SPID