Payment rail · Mexico
Payment rail · MexicoWhat is SPEI?
SPEI is Mexico’s interbank electronic payment system, operated by Banco de México, which moves funds between participating financial institutions in seconds. Poplin pays out to Mexico over SPEI, settling in real time.
Source: Banco de México (opens in a new tab)
Updated · Reviewed by Joyce Chin, Chief Operating Officer & Compliance Officer
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A payout to Mexico clears fastest over
SPEI
settles in real time · 0.5% + $1.00 on a business account
Also reaches USD accounts over
Set from your location — change it above.The recipient’s account details decide the rail — the fee is always shown before you send.
// at a glance
What the rail sets for a payout over SPEI — and what Poplin charges to send.
Settlement
Real time
clears in seconds
Reaches
1
country — Mexico
Paid out in
MXN
Mexican peso
Business fee
0.5%
plus a $1.00 fixed fee
Clearing
Local
domestic clearing
Days are business days — a Saturday delays a same-day or next-day payout. These are ceilings, not typical times: within the window, how fast the money lands depends on the receiving bank.
// how it moves
How SPEI payouts move.
From your US-dollar balance to an account in Mexico — four steps, seconds end to end.
You send from USD
Enter an amount in your Poplin US-dollar account and confirm the payout — the full fee shows before you send.
Converted at mid-market
Dollars become Mexican pesos at the mid-market rate — no markup added.
Cleared over SPEI
Poplin clears the payout over SPEI, Mexico’s real-time transfers.
Arrives in seconds
The money lands in the recipient’s account in Mexico in seconds.
// coverage
Where SPEI reaches.
Sending somewhere else?
Each destination clears over its own set of rails. See the rail, speed, and fee for any destination — or the fee for every rail on one page.
SPEI — FAQ
Basics
What is SPEI?
SPEI is Mexico’s interbank electronic payment system, operated by Banco de México, which moves funds between participating financial institutions in seconds. Poplin pays out to Mexico over SPEI, settling in real time.
Speed
How long do SPEI payouts take?
Over SPEI, Poplin payouts settle in real time. Payments leave your account in seconds; SPEI then clears the payout to the recipient’s bank.
Cost
How much does it cost to send money over SPEI with Poplin?
A percentage of the amount plus a $1.00 fixed fee — 0.5% on a business account and 1% on a personal account, shown in full before you send. Conversion, where the payout currency isn’t US dollars, is at the mid-market rate with no markup.
Coverage
Which countries does Poplin reach over SPEI?
SPEI is how Poplin pays out to Mexico, in MXN. Poplin also reaches Mexico over SWIFT (USD) — which one a payout uses depends on the bank details your recipient has.
Send US dollars to Mexico over SPEI.
Open a US-dollar account in minutes. No monthly fees.