Market coverage 1
["Mexico"]
Mexico
Mexico
Currencies 1
- Mexico Peso
Description
The Interbank Electronic Payment System (SPEI) is a payment method in Mexico that allows users to make real-time electronic transfers between different financial institutions in the country. SPEI is managed by the Bank of Mexico (Banxico), which is the central bank of Mexico.
SPEI was launched in 2004 with the aim of modernizing financial transactions and facilitating electronic payments. It enables fast and secure transfers, making it a popular payment method for individuals, businesses, and financial institutions in Mexico.
The system operates 24/7, which means users can make transfers at any time, even outside normal banking hours. Transfers made through SPEI are processed in real-time, so the funds are immediately available to the recipient.
To use SPEI, you need to have a bank account with a participating financial institution. You can make transfers using online banking channels, mobile applications, or ATMs provided by your bank. You will need to provide the recipient’s details, such as their bank account number and the CLABE (Interbank Key), which is a unique identifier for bank accounts in Mexico.
In terms of security, SPEI employs measures to ensure the confidentiality and integrity of transactions. Transfers are encrypted, and users need to authenticate securely to access the system.
