Two rails, two currencies
SPEI and SPID are the two interbank payment systems operated by Banxico. The core difference is currency and audience: SPEI moves Mexican pesos in real time, 24×7, for any customer; SPID moves US dollars between bank accounts in Mexico, in a Monday-to-Friday 08:00 to 17:00 window, for legal entities. They do not compete with each other: an institution with corporate customers operating in both currencies usually needs both.
What is SPEI?
SPEI (Sistema de Pagos Electrónicos Interbancarios) is Banxico’s system for real-time Mexican peso transfers. It operates continuously, 24×7, and processes everything from individual payments to high-volume payroll and corporate end-of-day runs. It is the rail that carries the vast majority of electronic transfers in the country.
What is SPID?
SPID (Sistema de Pagos Interbancarios en Dólares) is Banxico’s system for domestic interbank US dollar transfers. It is aimed at legal entities: companies that invoice, pay suppliers or run treasury in USD without moving funds out of Mexico. It settles the same day, in real time intraday, within an operating window of Monday to Friday from 08:00 to 17:00, and its transactions go through additional compliance validations, such as RFC and LEI, that SPEI does not require.
Side-by-side comparison
| Criterion | SPEI | SPID |
|---|---|---|
| Currency | Mexican pesos (MXN). | US dollars (USD). |
| Settlement | Real time. | Real time intraday, same day. |
| Window | 24×7, every day. | Monday to Friday, 08:00 to 17:00. |
| Users | Individuals and legal entities. | Legal entities. |
| Compliance | Standard system requirements. | Additional validations: RFC and LEI. |
| Typical volume | High volume (payroll, end-of-day). | Low volume, high value. |
| Scope | Domestic, between accounts in Mexico. | Domestic, between dollar accounts in Mexico. |
Which one does your institution need?
- If your customers move pesos, SPEI is the mandatory starting point: it is the base rail for any institution offering transactional accounts
- If you serve companies operating in dollars (foreign trade, corporate treasuries, USD suppliers), SPID saves them from using foreign correspondents for domestic payments
- If today you only need pesos but your segment is corporate, it pays to leave the architecture ready to add SPID without rework
- In both cases, Banxico requires operating and drilling contingency modes; the backup layer applies to both rails
How InterPago solves it
InterPago integrates institutions to SPEI, to SPID or to both on a single platform: native-protocol connectivity, certificates and key custody, per-currency settlement and reconciliation, SPID compliance validations (RFC, LEI) and the contingency modes the regulator requires. Most engagements start with one channel and add the other later; the architecture is built from day one to extend without rework.
Frequently asked questions
What is the difference between SPEI and SPID?
SPEI settles Mexican peso transfers in real time and operates 24×7 for any type of customer. SPID settles US dollar transfers between bank accounts in Mexico, operates Monday to Friday from 08:00 to 17:00 and is aimed at legal entities (personas morales), with additional compliance requirements such as RFC and LEI validation.
What is SPID?
SPID (Sistema de Pagos Interbancarios en Dólares) is Banxico's system for domestic interbank US dollar transfers between legal entities in Mexico. It settles the same day, in real time intraday, within an operating window of Monday to Friday from 08:00 to 17:00.
Does SPID replace SPEI, or are they separate systems?
They are separate, complementary systems. SPEI covers peso payments; SPID covers domestic dollar payments. An institution can participate in one or both, and many start with SPEI and add SPID later depending on their corporate customer base.
Who can use SPID?
SPID is aimed at legal entities (companies and institutions) with dollar accounts at participating Mexican banks. Unlike SPEI, it is not aimed at individuals, and its transactions go through additional compliance validations such as RFC and LEI.
See our SPEI service and our SPID service, review the SPID connection requirements or request a free assessment.