Directo a México is an account-to-account
service used to transfer money from a participating
financial institution account in the US to an account
at any bank in Mexico.
This channel is ideal for reoccurring
payments that can be programmed. Possible users of this
channel are:
-
U.S. financial institutions
that already process direct deposit and send
payments to Mexico.
-
Consumers and businesses
in the United States that need to send payments
to Mexico through a low-cost, fast, and secure
channel.
-
U.S. financial institutions
that are looking to expand their customer base to
include individuals who have moved from Mexico to
their community.
-
Government, loan, pension, life
insurance policies and other payments.
Information for U.S. financial institutions
interested in enrolling in Directo a México is
below:
Why should your financial institution
enroll in Directo a México?
How it works
Recommendations for your
customer for sending a payment successfully
How to get started
Enrollment
contacts
Directory of Mexican banks able
to receive Directo a México transfers
Additional information
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Why should your financial institution
enroll in Directo a México?
-
Become part of the growing US-to-Mexico
remittance market. (In 2006 alone, more than 60
million money transfers valued at $23 billion USD
were processed)
- Offer financial services to the growing Mexican
community in the U.S.
-
The FI offering Directo a México
determines the maximum transfer amount in accordance
with its own compliance policies.
Low cost
- US financial institutions pay a per-item surcharge
of 67 cents.
- US financial institutions determine their own fees
to their customers.
Ease of operation
- Directo a México uses the ACH network and
follows NACHA rules.
Access to all pesos accounts in the Mexican banking
system.
Directo a México operates through
SPEI (Interbank Electronic Payments System), which is
the backbone of the Mexican payments system:
-
SPEI is a real-time settlement
system that was developed, administered and regulated
by Banco de México, the Central Bank of Mexico,
handling both high and low-value payments.
-
Upon receipt of the payment
amount, the receiving bank in Mexico is required
to deposit the funds into the beneficiary’s
account within ten minutes.
-
The service complies with the
most advanced international standards: “Core
Principles for Systematically Important Payment
Systems (BIS, 2001)”.
Direct electronic access to any bank account at any
bank in Mexico:
-
Banjercito, Banamex, BBVA Bancomer,
Santander, HSBC, Bajio, Ixe, Inbursa, Interacciones,
Mifel, Scotiabank, Banregio, Invex, Bansi, Afirme,
Banorte, Amex, Bamsa, Azteca, Bansefi, Ve por más,
AUTOFIN, etc.
Access to more than 40 million Mexican bank accounts.
Benefits for beneficiary in Mexico
Access to funds in the beneficiary’s account
can be obtained through:
The sender in the US pays the transfer
fee. Mexican banks do not impose deductions or fees
to beneficiaries for payments received through Directo
a México.
- More pesos per dollar sent.
-
The foreign exchange rate used
is one of the most competitive rates in the market,
regardless of the amount.
-
The foreign exchange rate used
is based on the wholesale rate (FIX) minus a spread
of 0.21%.
Access to additional services:
Financial institutions have access
to the BAR (Beneficiary Account Registration) website,
which allows for pre-opening of Mexican accounts at
participating L@Red de la Gente
institutions.
As a way to assist in promoting Directo
a México to the Mexican community, financial
institutions are provided with a complimentary promotional
tool kit containing the following items:
- Materials in Spanish directed at the needs of the
consumer
- Colored posters
- Colored brochures
- Logos
- Text for a radio spot
- Foreign exchange information sheet
- Customer guide (Ideas aimed at helping financial
institutions market the service)
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