Mexican exporters and nearshoring suppliers: collecting dollars and paying in pesos

A Querétaro auto parts supplier won two new US customers after they moved production from Asia. Both pay in dollars, one by wire to the supplier's Mexican bank, one by ACH to US details. The supplier pays 400 workers weekly in pesos by SPEI, and its steel comes from a Mexican mill priced in pesos. Between receipt and payroll, the peso moved 3 percent.

Dollars in, pesos out

Nearshoring has made Mexico the largest trading partner of the US, and created a wave of new Mexican suppliers to American buyers. Their revenue is mostly in dollars; most of their costs, wages, local inputs, energy and taxes, are in pesos.

That mismatch is normal. What makes it expensive is converting every dollar receipt into pesos the day it arrives, at the bank's rate, and buying dollars back for imported inputs a week later.

How US buyers pay

US buyers can wire dollars to a Mexican account. Many accounts payable teams handle cross-border wires manually, so they are paid in batches and often late. Some deduct the intermediary fee from the supplier.

US account details in the Mexican company's own name let the buyer pay by ACH, like any domestic vendor. The amount arrives in full, on time, with a reference.

Hold dollars, plan the peso conversion

1. Receive dollars and keep them as dollars.
2. Pay dollar-priced inputs, such as imported components, US freight or software, from that balance.
3. Convert a planned amount to pesos ahead of each payroll, at a rate you see before confirming.

The peso can move several percent in a week. Planning conversions does not predict the rate, but it means the result comes from a decision rather than from which day a buyer happened to pay.

SPEI for the peso side

Once converted, pesos move through SPEI, Banco de México's real-time system, around the clock. Weekly payroll and local suppliers can be paid the same day.

Paying into Mexico: the local rail

Source: Banco de México: SPEI. Checked when this guide was last updated; the scheme's own page has the current figures.

Where Rivet fits

A Rivet business account accepts registered companies after verification, including Mexican companies. Approved companies get US account details in their own name on every plan, for ACH and wires, and can pay out in pesos and other currencies to 120+ countries. Dollars can be held or converted at a rate shown before you confirm. Rivet is not a bank; regulated partner institutions hold the funds.

See the MXN business payments guide.