SPEI Payments
in Mexico
Mexico's primary instant interbank transfer system, operated by Banco de México.
SPEI in Mexico
Mexican Peso · MXN
Contractor must provide their 18-digit CLABE number.
Payment Journey
You fund in USD, stablecoin, or BTC — your contractor in Mexico chooses how they receive it.
Fund your Bitwage Balance
USD via wire/ACH/FedNow, stablecoin (USDC/USDT), or BTC. Fund once — use for all payments.
Create a payment run
Add your Mexico contractor(s) to a batch or individual payment. Set the amount in USD — Bitwage handles everything else.
Converts & delivers via SPEI
FX rate locks at approval. Bitwage converts USD → local currency and routes the payment via SPEI. Compliance screened automatically.
Funds arrive via SPEI
Settlement: < 2 hours. Fees: 0–0.5%. Contractor can also choose USDC, USDT, or Bitcoin instead — they set their preference once.
How SPEI Works in Mexico
Bitwage converts USD to MXN at the locked rate and routes the payment through the SPEI network. Settlement is typically confirmed within 2 hours during Mexican banking hours.
Compliance & Security
Mexico requires foreign contractors to declare income and may need RFC registration with SAT. Bitwage collects W-8BEN for US tax compliance and screens all payments against OFAC lists.
The MXN floats freely. Bitwage locks the USD/MXN rate at execution time to protect against intraday volatility, giving both parties predictable settlement amounts.
SPEI in Mexico FAQ
Common questions about SPEI payments, settlement, fees, and requirements.
SPEI payments to Mexico typically settle in < 2 hours. Bitwage locks your FX rate lock at execution time so recipients receive exactly the amount shown in the payment preview.
Bitwage charges 0–0.5% for SPEI payments to Mexico. There are no hidden per-transfer fees beyond the displayed rate. You can see the full cost breakdown before executing via our {{link:products/contractor-payments}} platform.
Contractor must provide their 18-digit CLABE number. Bitwage validates all payment details before executing. For batch payments to multiple contractors, use {{link:products/masspay}} to upload a CSV with all recipient details at once.
Yes. With {{link:products/masspay}} you can include any number of Mexico-based contractors in a single payment run, mixing SPEI with other local rails. All FX conversions are locked at batch payment processing execution time.
Start Sending SPEI Payments to Mexico
Settlement in < 2 hours. Fees from 0–0.5%. OFAC screened on every payment.