About SPEI
SPEI (Sistema de Pagos Electrónicos Interbancarios) – Mexico’s national interbank electronic payments system under the management of Banco de México. It enables transfers between different banks in a matter of seconds via online or mobile banking.
Advantages
Instant crediting 24/7
Transfers between different banks without entering long details (CLABE/card number/phone – depending on the bank)
High availability and control at the central bank level
Disadvantages
Works only in Mexico and only in MXN
Fees/limits may vary depending on the bank
Transfers are difficult to cancel after sending – it is important to check the recipient
How does the SPEI system work?
SPEI – Mexico’s interbank electronic payments system. A transfer is initiated in mobile/online banking: the user enters the recipient’s details, confirms the operation – and funds are credited quickly between different banks.
Among the service features:
- interbank transfers 24/7;
- transfers via CLABE/card/phone (as supported by the bank);
- fast crediting of funds to the recipient.