Do you still withdraw large amounts of money from an automatic teller machine or the bank to pay your bills? Do you still slip out of the office, waste time during your lunch hour or in the morning, waiting in line at the bank to make payments? Would you like to receive or make payments in an easier and safer way from the convenience of your home or office or from anywhere by cell phone? The most modern, easiest, safest and economical way to make payments is called the SPEI® system.
SPEI® is a system developed and operated by Banco de México that allows the general public, in a matter of seconds, to make electronic payments, also called electronic transfers, via a bank, the Internet, or mobile banking. This system allows money to be transferred electronically between bank deposit accounts almost instantly.
With SPEI® you can pay school fees, the rent, your gym membership, your mortgage, your car loan, or send money to your loved ones… In sum, SPEI® is the best alternative for making rapid, safe payments.
¿What do I need to do to pay through SPEI®?
1. You need a bank account with Internet or mobile banking services.
2. You must know the Standardized Bank Code (CLABE) for the account (18 digits), the debit card number (16 digits) or the cell-phone number (10 digits) associated with the account of the person or business to whom you wish to make the payment or transfer the money.
How does it work?
Each bank designs its Internet service differently, but the general process is the following:
1. Access your bank's Internet or mobile banking service.
2. Identify the SPEI® payment option.
3. Provide the payment data: reference number, type of payment, and the amount of the operation.
Don´t forget your receipt!
Just as when you make a payment at the bank and the bank teller offers you a receipt or deposit slip, your bank should give you a receipt when you conduct a SPEI® transaction.
A receipt for a SPEI® payment should contain the following information at the least2:
* Remember the account can be the CLABE, the debit card number or the cell phone number associated with the account.
Did you forget to print or save the receipt? Don't worry. You can obtain your receipt in your bank statement via Internet banking.3
Search for and be familiar with the status of your payment
Your payment should never get lost. Some situations can occur in which the payment does not show up because the connection between your bank and SPEI® has a problem, the connection with your bank's website failed, or the bank that received the payment did not respond in time.
Banco de México and the employees in charge of SPEI® take many actions to ensure that the payment status is always available; thus, two mechanisms have been designed through which you can search for your payments or electronic transfers via SPEI®; they are:
1. The Electronic Payment Receipt (CEP) is a receipt or electronic document issued by Banco de México for informative purposes to back up the realization of a payment4. The CEP is issued with the information sent to SPEI by the bank that received the payment as confirmation of payment deposit, which can take up to a maximum of 30 minutes. In addition, the CEP can be consulted for SPEI® payments made in the last 45 working days.5
The information you need on hand is: 1) the date the payment was made, 2) the reference number or search code, 3) the name of the bank through which you conducted the SPEI® operation, 4) the name of the bank to which the payment was intended to be made, 5) the number of the account to which you sent the payment, and 6) the payment amount.
If you cannot obtain your CEP, it may be that the payment was not made for some reason and was returned; in that case, you can use MI-SPEI.
2. MI-SPEI is an information service through which you can consult the status of a payment with the search code your bank gave you when you made the payment, or with the reference number. This information unit allows you to find out, for example, whether or not the payment was returned for some reason or whether it was never made. With this information you can go to your bank to find out more details on the status of your payment and then follow through.
What follows are several possible payment statuses:
Do you want to validate a CEP? You are in the right place
The CEP can be obtained in a printable format (PDF) as well as a data file (XML). The CEP provides not only information on the payment or electronic transfer, but also the series number of the security certificate, the originating chain of events, and a digital seal that allows validation of authenticity and thus provides the user certainty regarding the payment.
This means that you can validate the digital seal with which the electronic receipt was signed, as well as the information it contains corresponding to that provided by the bank that received the SPEI® payment. If you want to validate the CEP you were given as evidence of payment, you should also have the CEP in an XML format and use the following application to validate it:
Remember, make payments and electronic payments with SPEI. It is very safe!
Making payments with SPEI® is very safe since these operations are made through a private, protected network.6 Also, an Internet banking service or mobile payment service requires the use of a security device, which may be a token or a security card, ensuring that only you can make transactions with these services.7
At any rate, when you use the SPEI® service via a bank website, we recommend that you do the following:
As a user you are protected.
Don't forget that Mexico's National Commission for the Protection and Defense of Financial Services Users (CONDUSEF) can help you obtain any clarification you need from your bank for this service. If for any reason you need better service, we encourage you to contact them.
We are here to serve you!
1/ Notice 17/2010, no. 3.3, a, first paragraph, establishes that a SPEI payment should not take more than 30 seconds after approval.
2/ Notice 17/2010, 6 is. 1 indicates that banks should provide at least this information.
3/ Notice 17/2010, 6 Bis.2 indicates that, when you consult movements in an account, banks should make available the information needed to identify a payment. At the same time, a bank should also include with each payment an electronic link in order to download your Electronic Payment Receipt (CEP).
4/ The CEP also provides a series number for a security certificate, the originating chain of events, and a digital seal that allows validation of authenticity as well as certainty for the user regarding the payment.
5/ If your payment was made more than 45 days ago, Banco de México can help you obtain your payment information. To do this, you must give us, through the Banco de México Liaison Unit, the date on which the transfer was made, the bank that originated the payment, the bank to which the payment was sent, and the reference number, as well as the search code.
6/ This private network uses security applications such as access control devices (firewalls) as well as the encryption of information so that no one besides the bank that receives the payment can understand and process the information. This is a sufficient guarantee that no one can send payments in your name or alter them.
7/ Banks have to comply with regulation on security and fraud prevention issued by the National Banking and Securities Commission (CNBV). This regulation is in accordance with international practices and standards, and its objective is to allow users of electronic banking systems to make transfers in a safe and reliable way. You can find more information here: General rules applicable to credit institutions (Notice Only for Banks), December 2, 2005, Fifth Part, Other Rules, Chapter X on the use of electronic banking services, p. 214.