Is a commercial alliance between BANSEFI and
the regulated intermediaries of the Popular Savings
and Credit Sector (credit unions and savings institution)The
branches are located in rural and urban areas where
commercial banks rarely have any presence.
As of July 2006, there are 62 members of L@Red de la
Gente representing 1,073 branches.
L@Red
de la Gente Caja Hipodromo
L@Red
de la Gente Caja Popular Oblatos
L@Red
de la Gente Caja Popular Maravatío
L@Red
de la Gente Caja Solidaria Guachinango
L@Red de la Gente Caja Morelia Valladolid
L@Red
de la Gente Caja Inmaculada
L@Red de la Gente Caja Popular Santiago de Tecomán
L@Red de la Gente Caja Solidaria Chiquiliztli
L@Red
de la Gente Caja Popular Cerano
L@Red
de la Gente Caja Popular Agustín de Iturbide
Beneficiary Account Registration Website
As of August 1, 2006 U.S. financial
institutions enrolled in Directo a México can
now use the Beneficiary Account Registration (BAR) Website
offered by Bansefi, a development bank owned by the
Mexican government. This innovative tool allows U.S.
financial institutions to pre-open an account at any
Bansefi or participating L@Red de la Gente credit union
branch for a third-party beneficiary in Mexico, who
then has 10 days to go to the selected branch, formalize
the account and receive their money. By increasing financial
access in Mexico and promoting bank usage, Bansefi has
removed the obstacle in account-to-account remittances
from the U.S. to Mexico.
Currently, there is no charge to the U.S. financial
institutions to use this service.
Benefits of the BAR Website to U.S. financial institutions:
- Access a secure website using an ID and password
for each financial institution employee designated.
- Ability to pre-open a bank account for a third-party
beneficiary in Mexico.
- Receive a CLABE account number for the pre-opened
account.
- Ability to send a remittance to the newly generated
account using Directo a México.
- Ability to check to see if the account has been
formalized in Mexico.
- If the beneficiary in Mexico does not formalize
the account after 10 banking days, the funds will
be automatically returned to the U.S. financial institution.
- Ability to continue to use the generated CLABE
for additional payments once the account is formalized
in Mexico.
- By having the funds available in the account, using
Directo a México to send the payment after
the account is pre-opened, the third-party beneficiary
has an incentive to go to the branch and formalize
the account.
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