SPEI
Mexico Interbank Payment System
SPEI is Mexico's interbank instant payment system — operates 24/7 and settles in seconds.
SPEI Key Facts
LATAM Rail · Bitwage
SPEI Technical Specifications
How Bitwage Uses SPEI
SPEI (Sistema de Pagos Electrónicos Interbancarios) is operated by Banco de México and connects all Mexican regulated financial institutions. When Bitwage pays a Mexican contractor, it routes via SPEI using the contractor's 18-digit CLABE (Clave Bancaria Estandarizada) number.
The payment flow: client funds Bitwage Balance in USD → Bitwage converts to MXN at the locked rate → SPEI delivers MXN to the contractor's bank account in under 30 seconds. SPEI operates 24/7, so Friday payments arrive before the weekend regardless of contractor banking hours.
Bitwage uses SPEI for individual contractor payments and batch payroll runs to Mexico. For high-volume Mexico payroll, clients upload a CSV with CLABE numbers and MXN amounts; Bitwage executes all payments in a single run via SPEI.
SPEI vs SWIFT
SWIFT wires to Mexico take 2–4 business days, cost $40–$60, and arrive as USD that the contractor's bank converts at its own (typically poor) exchange rate. SPEI delivers MXN in 30 seconds at Bitwage's locked FX rate. For Mexico-based contractor payroll, SPEI is strictly superior to SWIFT in every dimension.
Full stablecoin vs SWIFT comparisonSPEI FAQ
Common questions about Mexico Interbank Payment System and how Bitwage uses it.
A CLABE (Clave Bancaria Estandarizada) is an 18-digit Mexican bank account identifier — the equivalent of an IBAN for Mexico. All SPEI payment transfers require a CLABE number. Mexican contractors provide their CLABE during Bitwage onboarding.
Bitwage locks the USD/MXN exchange rate at payment approval time via FX rate lock. The contractor receives the exact MXN amount shown at approval — no correspondent bank deductions or rate slippage.
SPEI payment operates 24/7 including Mexican holidays. However, some banks may have delayed posting on holidays. For time-sensitive payments, Bitwage recommends executing 24+ hours before a holiday.
Pay via SPEI — Automatically
Bitwage routes payments through SPEIwhen it's the optimal rail for your recipients. No configuration required.