SWIFT codes in Mexico

MX · MXN

26 banks in Mexico, from BANCO NACIONAL DE MEXICO S.A. (BNMXMXMM) onward; every code carries MX as its country part.

Banks and SWIFT codes in Mexico

Mexico SWIFT code questions

How SWIFT works in Mexico

Banco de México (Banxico) regulates international payments, and Mexico uses a unique domestic account identifier called CLABE (Clave Bancaria Estandarizada), an 18-digit number that encodes the bank, city, and account. For international inbound transfers, the sender needs the SWIFT/BIC code of the recipient's bank as well as the CLABE number. Domestic transfers operate through the SPEI (Sistema de Pagos Electrónicos Interbancarios) real-time settlement system.

• Mexico's largest banks — BBVA México, Banorte, Santander México, and Citibanamex — each have SWIFT codes that route inbound wires to their international operations centres. Always provide the 18-digit CLABE alongside the SWIFT code, as the CLABE is required by Mexican banks to credit the correct account. A standard account number alone is insufficient.
• Mexican banks are required to comply with Mexico's anti-money-laundering regulations and may request documentation for large inbound transfers. Transfers from the United States are particularly common, and many US-to-Mexico corridors now offer bank-account deposit services that bypass traditional SWIFT routing for lower fees and faster settlement.
• The Mexican peso (MXN) is freely traded, and inbound USD transfers are typically converted to MXN at the bank's exchange rate on the day of credit. Some Mexican banks offer the option to receive and hold USD in a dollar-denominated account (cuenta en dólares), which can be useful for businesses that regularly transact in USD.
• SWIFT and SPEI answer different questions and it's worth knowing which one your transfer actually uses: a traditional SWIFT wire into a Mexican bank routes through correspondent banks and typically settles in one to three business days, while a specialist provider that partners directly with a Mexican bank can push USD-to-MXN payments straight into SPEI, which settles in seconds. Most specialist providers on this corridor are using the SPEI rail rather than SWIFT, which is a meaningful part of why they consistently deliver faster and cheaper than a bank wire on the same corridor — check today's USD to MXN comparison above for who is quoting best right now.
• Since 1 January 2026 a US federal excise tax of 1% applies to covered remittance transfers to Mexico funded with cash, money orders, cashier's cheques or similar physical instruments; transfers funded from a bank account or with a US-issued debit or credit card are excluded. This applies regardless of whether the transfer is routed via SWIFT or a specialist's direct-to-SPEI rail — it depends on how you pay, not how the money travels once it leaves your account.