What is the SPEI and how is it used?
He Interbank Electronic Payment System (SPEI) It is the system that Mexicans use to make money transfers in a few seconds.
Banxico defines SPEI as “a central pipeline to which participants connect” so that you, who have a bank account, can make purchases or transfer money to other people.
To make a bank transfer via SPEI you need to have a bank account, have access to the internet and your app or bank page.
Through the CLABE or account number you can transfer in less than 30 seconds.
Transfers via SPEI can be made 24 hours a day.
What is CoDi and how is it used?
The Digital Collections (CoDi) They were launched in September 2019 as one more alternative for payment methods.
Banxico’s intention was for Mexicans to use QR codes to pay quickly in small establishments. The requirement is to have your bank’s app and the function available.
Once inside the app, you scan the QR code or generate one (they are saved in your photo gallery). This payment method is recommended to businesses since they do not generate any type of commission.
CoDi uses the SPEI infrastructure to operate and the maximum amount to be transferred is 8,000 pesos for each operation.
What is DiMo and how is it used?
Mobile Money (DiMo) It is the most recent payment method of Banco de México. It is free and, like CoDi, it uses the SPEI infrastructure.
With DiMo it is no longer necessary to have the CLABE account or the account number of the person to whom it is going to be transferred, you will only need the cell phone number.
The money will be deposited in the account of the other person and will not have any commission charge.