Send Money to Mexico — SPEI in Seconds
Recipient gets MXN to any Mexican bank (CLABE) in seconds via SPEI, or holds digital dollars. 24/7/365. No fees from Peanut.
Send Money to Mexico via SPEI — Settles in Seconds, 24/7/365
Send money to Mexico today and have it land in your recipient's bank account in seconds. Peanut withdraws directly to any Mexican CLABE via SPEI — Banxico's real-time interbank rail — so the recipient receives MXN almost instantly, regardless of weekend, holiday, or time of day. Or they can skip the bank entirely and hold digital dollars in their Peanut account, ready to withdraw to a wallet or spend abroad later.
This is live now, not a roadmap item. Peanut runs SPEI deposit and withdraw via Bridge, so the rail itself behaves the way every Mexican expects it to: free at the bank level, settled in real time, addressed by 18-digit CLABE. No CURP required for the recipient — verification works with any passport or national ID card.
Why Peanut Is the Best Way to Send Money to Mexico
SPEI in Seconds, 24/7/365
SPEI (Sistema de Pagos Electrónicos Interbancarios) is Mexico's real-time gross settlement system, operated by Banco de México. Every Mexican bank and most authorised fintechs participate, and the scheme settles transfers in under 30 seconds — including weekends and public holidays. Peanut connects directly to this rail. Once you send money to your recipient, they can withdraw to any CLABE and the funds land in seconds.
No weekend cut-off. No "settles next business day." No batching. The same MXN that left Peanut shows up in the recipient's bank app before they finish reading the confirmation.
Better Exchange Rate
For senders holding USD or digital dollars, the path is short and clean. USD converts to USDC at no cost (same-currency rail) and USDC converts to MXN through Bridge at the market rate with a single 50bps developer fee — no card markup, no bank spread layered on top. EUR-funded senders add one cross-currency hop on the funding side (around 100bps). Either way, the rate locks at the moment of payment, so the MXN amount the recipient receives is exactly what the confirmation screen showed.
Credit cards typically take a 3-5% spread above the interbank rate when paying in pesos, and airport or hotel exchanges take significantly more. Wise and PayPal route through their own FX desks and add their own fees on top.
No Fees from Peanut
Every step inside Peanut is free. Deposits via SEPA, ACH, USD wire, SPEI, or stablecoins cost nothing on Peanut's end. Sending to the recipient is free. SPEI withdrawals are free. Holding a balance is free. The only cost lives inside the FX spread on cross-currency legs, embedded in the displayed rate — you see one number on the confirmation screen and pay exactly that.
The recipient's bank may apply a small fee on certain SPEI transfers (MXN 0–11 at most retail banks; free at fintechs like Nu, Klar, and Hey Banco), but that's the bank's charge, not Peanut's.
No CURP, No Local Bank Required for the Recipient
Info
Most Mexican financial services require a CURP (national population registry key) and often an RFC (tax ID). Foreigners — including the digital nomad communities in Mexico City, Playa del Carmen, Oaxaca, and Puerto Vallarta — typically need a residency visa to obtain either. Peanut sidesteps that entirely. A passport from any country is enough to verify identity and unlock SPEI withdrawals to any CLABE the recipient owns or controls.
KYC is required for fiat operations (SPEI deposit, SPEI withdraw). Crypto deposits and withdrawals require no KYC at all.
How It Works
- 1
Sign up and verify your identity
Create a Peanut account and complete KYC with Bridge — passport or national ID card plus a selfie. Under 2 minutes for most users. Verification is handled by Persona; Peanut never sees or stores your documents.
- 2
Deposit funds
Fund the way that fits your location. US users can deposit via ACH (free, 1-3 business days) or USD wire (free same-currency rail). European users can use SEPA bank transfer (free, 90% under 20 minutes). Mexican senders can deposit via SPEI in seconds. Anyone can send USDC or USDT on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum — free, arrives in minutes.
- 3
Send to the recipient
Send a Peanut Link or Peanut Request — the recipient claims into their own Peanut account (verified with a passport, no CURP). Peanut-to-Peanut transfers are instant. If you're the one traveling to Mexico, skip this step and withdraw from your own account.
- 4
Recipient withdraws via SPEI
The recipient enters their 18-digit CLABE, confirms, and Peanut sends MXN directly to their Mexican bank account. Settlement is in seconds, 24/7/365 — including weekends and Mexican public holidays. Or the recipient keeps the balance in digital dollars and withdraws later.
Where the Money Goes
SPEI Withdrawal to a Mexican Bank (CLABE)
This is the primary path. The recipient adds a CLABE — their own or someone else's — and Peanut sends MXN directly through SPEI. Funds appear in the destination bank account in seconds. The transfer works with every Mexican bank and most authorised fintechs (BBVA, Santander, Banorte, Citibanamex, Nu México, Klar, Hey Banco, Albo, and others).
Minimum onramp via SPEI is around 50 MXN (~$3 USD equivalent). There is no per-transaction cap from Peanut beyond Bridge's standard limits review above $100,000 USD equivalent. SPEI scheme caps allow up to MXN 8,000,000 per transaction.
This works for any use: paying a contractor, supporting family, settling a bill, splitting expenses with friends in Mexico, or simply moving your own dollars into a local peso account. No Peanut Link is required — direct bank-to-bank transfers from your Peanut balance to any CLABE work the same way.
Digital Dollars (Hold or Withdraw to Wallet)
The recipient doesn't have to convert to MXN at all. They can keep the balance in USDC or USDT and either spend abroad later or withdraw stablecoins to any external wallet on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum. This is the natural choice for digital nomads, freelancers paid in USD, or anyone wanting protection against MXN volatility.
Crypto withdrawals require no KYC and have no limits beyond network minimums (~$1 equivalent).
Coming Next: Merchant Payments via CoDi
CoDi (Cobro Digital) is Banxico's central bank-backed QR payment system, layered on top of SPEI. It lets customers scan a merchant QR and pay in pesos instantly. CoDi merchant payments inside Peanut are not live yet — they're on the roadmap. Today, the recipient cashes out to a Mexican bank account via SPEI and uses their bank's own CoDi or card flow from there.
When Peanut adds CoDi directly, recipients will be able to scan a merchant QR from inside the Peanut app and pay in pesos at participating businesses. We'll update this page when it ships.
How Much Does It Cost?
Peanut charges no flat fee on deposits, sends, withdrawals, links, or requests. The cost lives entirely inside the FX spread on cross-currency legs, embedded in the rate shown at confirmation.
| Sender holds | Funding leg | USDC → MXN leg | End-to-end spread |
|---|---|---|---|
| USD | Free (ACH or USD wire, same-currency) | Bridge 50bps (cross-currency) | ~50bps |
| Digital dollars (USDC/USDT) | Free (no FX) | Bridge 50bps | ~50bps |
| EUR | Bridge 50bps + Peanut 50bps (cross-currency) | Bridge 50bps | ~150bps |
| MXN | Free SPEI deposit | No FX leg | 0bps (MXN in, MXN out) |
How a $500 cross-border transfer to Mexico compares:
| Service | Transfer Fee | Effective FX Cost | Approximate Total on $500 |
|---|---|---|---|
| Peanut (USD holder) | Free | ~50bps | ~$2.50 |
| Wise | 0.4–1.5% ($2–$7.50) | + 30–80bps markup | $4–$15+ |
| PayPal | 3–4% ($15–$20) | Unfavorable markup | $25–$40+ |
| Western Union | $5–$15+ flat | 2–5% rate markup | $20–$40+ |
For full details, visit the pricing page.
Sending from Specific Countries
Send Money from the United States to Mexico
The US-Mexico corridor is the largest bilateral remittance corridor in the world — roughly $63 billion per year. Traditional providers charge 1-4% in fees and take days to settle. US-based senders on Peanut have three clean paths. ACH is free and takes 1-3 business days. USD wire is free on Peanut's end (the user's bank may charge $25-$80+). For instant funding, send USDC on Arbitrum or Base from Coinbase or another US exchange — deposits arrive in 1-2 minutes. Either way, the recipient gets MXN to their CLABE in seconds via SPEI.
This corridor also covers US tourists heading to Mexico City, Cancun, Puerto Vallarta, and the Riviera Maya — load Peanut before the trip and withdraw pesos in-country without paying card-network forex markups.
Send Money from Spain to Mexico
Spain has deep cultural and family ties to Mexico. Spanish senders deposit via SEPA bank transfer — free, 90% under 20 minutes from any Spanish bank. The EUR funding leg adds ~100bps (Bridge + Peanut dev fee on the EUR→USDC step), then USDC→MXN through Bridge at ~50bps. Recipient receives MXN via SPEI in seconds.
Send Money from Mexico to Mexico (Domestic)
If both sender and recipient are in Mexico, Peanut works as a same-rail bridge: deposit MXN via SPEI, send via Peanut Link, recipient withdraws MXN via SPEI. No FX leg, no spread. Useful for splitting bills, paying freelancers across the country, or moving funds to a different bank without touching your primary account.
FAQ
How much does it cost to send money to Mexico with Peanut?+
Peanut charges no flat fee on deposits, sends, withdrawals, or Peanut Links. The cost lives inside the FX spread embedded in the rate. USD holders pay around 50bps end-to-end (free funding leg, plus Bridge's 50bps on USDC→MXN). EUR holders pay around 150bps total. The receiving bank may charge MXN 0–11 on certain SPEI transfers; fintechs like Nu México and Klar are typically free.
How long does it take?+
Peanut-to-Peanut transfers are always instant — the recipient sees the funds in their Peanut account in milliseconds. SPEI withdrawal to the recipient's CLABE settles in seconds, 24/7/365 — including weekends and Mexican holidays. Funding speed depends on your rail: stablecoin deposits arrive in minutes, SPEI deposits in seconds, SEPA in under 20 minutes for 90% of users, ACH in 1-3 business days, wire in 1-5 business days.
Does the recipient need a Mexican bank account or CURP?+
Not to receive into Peanut. The recipient verifies with any passport or national ID card — no CURP, no RFC, no Mexican residency. They can hold the balance in digital dollars indefinitely and withdraw to a wallet whenever they want. To cash out to MXN via SPEI, they need a Mexican CLABE — but the CLABE can belong to them, a relative, or any account they're authorised to use.
What exchange rate does Peanut use for MXN?+
Bridge's market rate at the moment of payment. There's no MEP-style regulated rate in Mexico the way there is in Argentina — MXN is a free-floating, liquid currency. The rate locks at confirmation, so the MXN amount displayed is exactly what the recipient receives. No slippage, no post-transaction adjustments.
Is Peanut cheaper than Wise, PayPal, or Western Union for Mexico?+
For USD-funded transfers, yes. Peanut's end-to-end spread sits around 50bps. Wise charges 0.4–1.5% plus its own FX markup. PayPal charges 3-4% cross-border with an unfavorable rate markup. Western Union charges $5-$15+ flat plus 2-5% rate markup. The bigger advantage isn't always price — it's that Peanut settles to the recipient's bank in seconds, 24/7/365, while bank-rail competitors take 1-5 business days.
Can I pay merchants in Mexico directly with Peanut via CoDi?+
Not yet. Peanut doesn't currently scan CoDi QR codes from inside the app — that integration is on the roadmap. Today, the recipient cashes out via SPEI to their Mexican bank account and uses their bank's own CoDi flow, card, or cash from there. When we add native CoDi support, we'll update this page.
Can digital nomads in Mexico use Peanut?+
Yes — this is one of the strongest use cases. Mexico City, Playa del Carmen, Oaxaca, and Puerto Vallarta have large digital nomad communities who can't easily get a CURP without a residency visa. With Peanut, they verify with a passport, receive funds from clients or family abroad, hold digital dollars or withdraw to any Mexican CLABE they have access to, and avoid card-network forex markups when topping up local accounts.
Disclaimer
The information on this page is for general informational purposes only and does not constitute tax, legal, or financial advice. Exchange rates fluctuate. Consult a qualified professional for advice specific to your situation.
