How to deposit with SPEI

SPEI is the most common way to send money between banks in Mexico: it runs every day, around the clock, and transfers usually arrive in seconds. Here’s how to deposit with SPEI step by step, and how to use it in Bomba.

What is SPEI?

SPEI is Mexico’s Interbank Electronic Payment System (Sistema de Pagos Electrónicos Interbancarios), run by the Bank of Mexico. It connects the country’s banks and other financial institutions so money moves from one account to another in real time, 24 hours a day, 365 days a year.

What you need

• Your bank’s app or online banking.
• The destination CLABE. It’s 18 digits: the first three identify the bank, the next three the city (plaza), then come eleven digits of the account number, and at the end a check digit that catches most typos.
• The beneficiary’s name, exactly as it’s given to you.
• The amount, the payment description (concepto) and, if you’re asked for one, the numeric reference (up to 7 digits). They’re used to identify your deposit.

Step by step

1. Open your bank’s app and go to Transfer.
2. Choose to transfer to another bank or to a new account, and enter the 18-digit CLABE. Many apps recognize the bank on their own.
3. Enter the beneficiary’s name. Some banks ask you to add the account and wait a while before the first transfer.
4. Enter the amount, the payment description and the numeric reference, if you were given one.
5. Check everything and confirm. Save the receipt: it has the tracking code (clave de rastreo).

How long does it take, and what does it cost?

It almost always arrives in seconds. It can take longer if either institution reviews the transfer or if the system is under heavy load. The cost depends on your bank: many don’t charge for SPEI transfers from their app, but it’s worth checking. Daily limits depend on the type of account you have.

The CEP receipt

With the tracking code you can download the Electronic Payment Receipt (Comprobante Electrónico de Pago, or CEP) from the Bank of Mexico website. You need the date, the tracking code, the sending bank, the receiving bank, the destination CLABE and the amount. The CEP confirms that the transfer settled.

Common mistakes

• One wrong digit in the CLABE. The transfer is almost always rejected and the money goes back to your account.
• Using your card number instead of the CLABE. To deposit, use the CLABE you’re given.
• Leaving out the description or the reference when they’re requested. Your deposit may take longer to be identified.
• Hitting your account’s limit. If your bank stops the transfer, check your limits in its app.

Depositing in Bomba with SPEI

In Bomba, tap Deposit and choose SPEI. You’ll see the transfer details: CLABE, bank, beneficiary, description and numeric reference, each with its own copy button. Make the transfer from your bank’s app with those details, and your balance shows up in Bomba once it arrives. If you prefer, you can also deposit with Apple Pay or by sending crypto from any exchange.