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.
Source: Banco de México (opens in a new tab)
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.
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 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.
Where SPEI reaches.
Mexico
The one country Poplin pays out to over SPEI, in Mexican pesos.
Send to Mexico →Paid by clients abroad? You can open a Poplin account from Mexico, with USD, EUR, GBP, and AED accounts they can pay into, and you can then convert to Mexican pesos at the mid-market rate and pay out to a bank account in Mexico over SPEI. See what Poplin can do in Mexico →
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.
Other rails to Mexico.
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 Poplin account in minutes. No monthly fees.