What is a CLABE account and what is it for?

Introduction to the CLABE account

The CLABE account (Standardized Bank Code) is a unique 18-digit number that identifies each bank account in Mexico. This number is crucial to make electronic transfers safely and efficiently within the country. The structure of the CLABE is as follows:

• Bank code (3 digits): Identifies the bank to which the account belongs.
• Location code (3 digits): Corresponds to the location or branch of the bank where the account was opened.
• Account number (11 digits): This is the unique number assigned to the account.
• Check digit (1 digit): Verifies the validity of the CLABE and avoids typing errors.

Remesita financial service

At Remesita, we offer an innovative financial service that provides each client with a CLABE account number. This allows our users to receive payments via transfer in Mexico through the SPEI network (Interbank Electronic Payment System). Additionally, customers can associate this CLABE account with PayPal Mexico accounts to receive PayPal payments.. They can also use it to receive payments from platforms such as FelixPago.com, Remitly.com  and Wise.com, which facilitate sending remittances to Mexico.

Is Remesita a bank then?

It is important to highlight that Remesita it is not a bank as such. Instead, we use the service of banking providers to offer this payment experience. This means that, although we are not a traditional bank, we can provide our users with the advantages of a CLABE account through strategic partnerships with banking institutions such as Operadora de Pagos Móviles de Mexico (OPM) and Operaciones Empresariales del Norte ( ASP INTEGRATES OPC).

Security and traceability in the SPEI network

One of the most notable features of the SPEI system is the traceability of payments. Thanks to the regulation of the Bank of Mexico, each transaction in the SPEI network can be tracked, providing details about the status of the transaction, the time it was settled or not, the amount, among other data. 

This tracking mechanism works similarly to a blockchain, but with fiat money (traditional currency).. Each operation generates a receipt that allows users to know the status of their transactions in real time.. This traceability not only adds an additional level of security, but also ensures the privacy of users, as transaction details are kept confidential between the parties involved and the relevant financial institutions.  This receipt or record is called CEP (Electronic Payment Receipt) and can be obtained publicly from the official website of the Bank of Mexico ( BANXICO )

Benefits of using Remesita's CLABE account

• Electronic Transfers: Allows you to receive interbank transfers accurately and securely within Mexico.
• Receiving Remittances: Through platforms such as FelixPago.com and Wise.com, users can receive remittances efficiently and securely.
  
• Partnership with PayPal: Remesita's CLABE account can be linked to PayPal Mexico, making it easier to receive payments from this popular platform.

Conclusion

The CLABE account provided by Remesita is a powerful tool to manage payments and transfers in Mexico. Although Remesita is not a traditional bank, our partnership with banking providers allows us to offer a secure, efficient and reliable payment experience.. The traceability of transactions through the SPEI network adds an additional level of security, ensuring that each operation is transparent and traceable without compromising user privacy.