SPEI: Who Qualifies and What You Get
Learn how to use the SPEI system for real-time bank transfers in Mexico and avoid common mistakes with account numbers.
SPEI is a system used to make electronic money transfers between different banks in real-time.
Who it's for
This system is available to anyone who holds a bank account in Mexico.
What you get
You can send and receive money between different banks almost instantly. This allows for quick transfers of funds regardless of which banking institution you or the recipient use.
What it costs you
The service itself is part of the banking infrastructure, but your specific bank may charge a small commission for processing the transfer. You should check with your bank to see if they apply any fees.
The catch to know
Once you send a transfer, it is irreversible. You must carefully verify the 18-digit CLABE (a standard bank account number) before hitting send; if the number is wrong, you cannot easily get the money back.
How to apply
- Log in to your bank's mobile app or online banking portal.
- Select the option for electronic transfers or "Transferencia."
- Enter the recipient's bank name and their 18-digit CLABE number.
- Enter the amount you wish to send and confirm the details.
- Check the official portal for more information: https://www.banxico.org.mx