Customers with accounts in Mexico: upcoming regulatory requirements for domestic USD payments to corporate beneficiaries
Last updated: 18 May 2017
As part of a regulatory requirement issued by The Central Bank of Mexico (BANXICO), effective 1 June 2017, domestic USD payments to corporate beneficiaries in Mexico must be made using the SPID system.
SPID is a USD interbank payment system implemented by BANXICO for domestic payments in Mexico between corporate parties.
HSBCnet’s SPID Priority Payment screens capture specific regulatory required details. We recommend that you review the below information to ensure that your USD payments are not delayed or rejected.
Payments that must be submitted via SPID Priority Payment screens from 1 June 2017
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Debit account |
Payment currency |
Beneficiary |
All USD currency accounts domiciled in Mexico |
USD |
Corporation/business in Mexico (with non-HSBC account) |
Register your SPID beneficiaries as soon as possible:
SPID payments can only be made to registered beneficiaries. Please contact your HSBC representative to complete and submit a SPID Beneficiary Registration form.
From 1 June 2017, if you submit a SPID payment to an unregistered beneficiary on HSBCnet, your payment will not be processed and the following error message will be displayed:
“UHG093 ORDERING SPID ACCOUNT NOT RELATED WITH BENEFICIARY”
Learn how to send a SPID payment on HSBCnet:
For instructions on how to submit a SPID payment on HSBCnet, select the ‘Help’ link in the Create Payment Instruction service and review the How to create a Priority Payment from MX account in USD currency guide.
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Upcoming HSBCnet screen changes effective 11 June 2017:
As of 11 June 2017, HSBCnet’s Create Payment Instruction and Create Payment Template screens will be updated with the following new Sub payment type options for your payments in Mexico:
- SWIFT payment to individual beneficiary or HSBC beneficiary
- USD payment to Corporate beneficiary to other banks (SPID)
- In-house/SPEI payment
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For questions regarding SPID payments, please contact your local HSBCnet Support Centre or your HSBC representative.
The postal address for related inquiries is:
HSBC - E-Channels
8 Canada Square
London UK E14 5HQ
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