Paying in Mexico: SPEI, the CLABE and Mexican peso payouts
Mexico's SPEI moves pesos in seconds to any 18-digit CLABE. For companies with teams or suppliers in Mexico, it is the cheapest way to pay.
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Mexico is the most common nearshore destination for US companies hiring developers, designers and support teams, and a large supplier market. Paying in Mexico is simple once you use its own system: SPEI and the CLABE.
How Mexican account details work
| Field | Format | Notes |
|---|---|---|
| CLABE | 18 digits | Bank (3) + location (3) + account (11) + check digit (1) |
| Account holder name | Full legal name | Must match the account |
| RFC | 12 or 13 characters | Tax ID; often on invoices and contracts |
The check digit catches most typos before a payment is sent.
SPEI
The Sistema de Pagos Electrónicos Interbancarios is run by Banco de México. It settles peso transfers between banks and other participants in seconds, 24/7. It is how Mexican businesses pay each other and their staff, and how payout providers deliver pesos locally.
Paying Mexican contractors
| Option | Contractor receives | Watch for |
|---|---|---|
| USD by international wire | USD, often converted by their bank | SWIFT fees, bank's rate, 1 to 3 days |
| MXN by SPEI to their CLABE | Pesos, in seconds | The rate and fee shown before sending |
| USD to a US account the contractor holds | Dollars | Only if they have one |
For a US company paying a Mexican contractor:
- A contract that reflects independent work. See paying a remote team abroad.
- A W-8BEN on file before the first payment.
- An invoice for each payment; many Mexican contractors issue a CFDI, Mexico's electronic invoice.
- Payment in pesos by SPEI, or USD if they prefer.
Paying suppliers
Mexican suppliers usually invoice in pesos or dollars. Paying peso invoices by SPEI from a USD balance converts once, at a rate you see. See bulk payments explained for paying many at once.
MXN on Rivet
Rivet lets a company pay Mexican accounts in pesos by SPEI from its USD balance, with the rate and fee shown before you confirm. On Scale, a company can also hold and convert MXN beside its other balances. See Payouts and Pricing.
Questions people ask
What is a CLABE?
The Clave Bancaria Estandarizada, an 18-digit standardised account number used for electronic transfers in Mexico. It includes a bank code, a location code, the account number and a check digit.
What is SPEI?
The Sistema de Pagos Electrónicos Interbancarios, Mexico's interbank electronic payment system, run by Banco de México. It settles peso transfers in seconds, at any time, every day.
How do I pay a contractor in Mexico?
In pesos to their CLABE by SPEI, through a provider that pays out locally. You need the contractor's full name and CLABE. Keep a contract, an invoice and the payment record, and for a US company, a W-8BEN on file.
Should I pay Mexican contractors in USD or MXN?
Ask them. Some hold USD accounts and prefer dollars. Most spend in pesos, and a peso payout by SPEI arrives within seconds at a rate you see before sending, rather than a rate their bank chooses.
Sources
William covers what happens once a company starts moving money: getting the business verified, paying contractors and suppliers abroad, and keeping card spend under control. William writes for the founder or finance lead who has to make it work this week, and links every rule cited to the text it comes from.
More from William Sunjo M. →This article is general information, not legal, tax or financial advice. Rules and fees change; check the sources above and the provider’s current terms before you act on them.
- mxn payments
- spei
- clabe
- pay contractors in mexico
- mexican peso
