Send and Receive in Mexico with Peanut
Free SPEI transfers in pesos. CLABE deposits and withdrawals that settle in seconds, 24/7/365. Plus digital dollars on 7 networks — verify with your passport, no CURP.
Peanut is live in Mexico for both pesos and digital dollars. Move MXN over SPEI — Mexico's real-time interbank rail — directly to and from any 18-digit CLABE. Hold a digital dollar balance, top up from any major exchange, or receive funds from anywhere in the world. The full US–Mexico corridor works today: send dollars, receive pesos, settle in seconds. CoDi QR merchant payments are the one feature still on the roadmap.
Whether you're sending remittances from the US, a digital nomad living in Mexico City, or a remote worker getting paid in dollars and spending in pesos, Peanut removes the wait and the fees. Verify with your passport in under two minutes — no CURP, no RFC, no Mexican bank account required to use the app.
How It Works
- 1
Deposit from anywhere
Add MXN via SPEI from any Mexican bank — settles in seconds, 24/7/365. Or send digital dollars from any exchange or wallet on Solana, Arbitrum, Base, Tron, Avalanche, Polygon, or Ethereum. From the US, ACH and wire are also available. All deposits are free, gas covered.
- 2
Your balance stays in digital dollars
Your funds are held in digital dollars between deposit and payout. Convert to pesos at the moment you withdraw — no exposure to peso fluctuations while your money sits in the app.
- 3
Send pesos to any CLABE
Withdraw to your own Mexican bank account or send directly to anyone's 18-digit CLABE. Banxico settles in seconds — funds land at BBVA, Santander, Banorte, Nu México, Klar, or any other participating bank or fintech.
- 4
Send dollars to anyone, anywhere
Share a Peanut Link or Request with anyone in Mexico. They claim without an app, then cash out to their bank in pesos or hold their balance in digital dollars.
What's Live in Mexico Today
SPEI Bank Transfers (MXN)
SPEI (Sistema de Pagos Electrónicos Interbancarios) is Mexico's real-time interbank rail, operated by Banco de México. It is the backbone of every bank-to-bank transfer in the country — every major retail bank (BBVA, Santander, Banorte, Citibanamex) and every authorised fintech (Nu México, Klar, Hey Banco) settles on it.
Peanut supports SPEI deposits and withdrawals end to end:
- Deposit: Generate a CLABE in the app, send pesos from your Mexican bank using the reference Peanut shows you, and your balance updates as soon as Banxico settles — usually within seconds.
- Withdraw: Enter any 18-digit CLABE — your own or a third party's — pick an amount, confirm. Funds arrive in seconds at the destination bank, including weekends and Mexican public holidays.
- Free, 24/7/365: Peanut charges nothing on SPEI deposits or withdrawals. The minimum onramp is about 50 MXN (around $3 USD equivalent). There is no Peanut-imposed maximum.
See the bank withdrawal guide for the full SPEI flow.
Digital Dollars (USDC and USDT)
Hold your balance in digital dollars and move them between Peanut and any exchange or self-custody wallet. Seven networks supported:
- Solana — fastest network, very low fees
- Arbitrum — low-fee Ethereum L2, widely supported by exchanges
- Base — native for Coinbase users
- Tron — most USDT liquidity globally
- Avalanche, Polygon, Ethereum — also supported
Deposits and withdrawals are free; gas is covered by Peanut. No minimum deposit. No KYC required to move digital dollars in or out.
Peanut Links and Requests
Send pesos or dollars to anyone in Mexico without needing them to have the app first:
- Peanut Link — a shareable link or QR with money attached. The recipient claims via WhatsApp, SMS, or any messenger, then cashes out to their CLABE in pesos or keeps the balance in digital dollars.
- Peanut Request — a collection link for splitting bills, taking tips, or running a small group payment. Multiple contributors can pay in pesos via SPEI or in digital dollars from any chain.
Info
What's Coming Next
CoDi QR Merchant Payments
CoDi (Cobro Digital) is Banxico's QR/NFC layer on top of SPEI, designed for tap-and-go merchant payments. It runs on the same rail Peanut already uses for SPEI — so adding it is an extension of the live integration, not a separate launch. CoDi support is on the roadmap; we don't have a firm launch date.
Until then, you can already pay any individual or merchant in Mexico by sending a SPEI transfer to their CLABE from the app, or by sharing a Peanut Link. Both arrive in seconds.
Exchange Rate and Costs
MXN is one of the most liquid emerging-market currencies. The interbank rate is generally tight, but cards still add foreign transaction fees of 1–3% on top of the underlying rate. Bank wires from the US cost $25–$80 per transfer and take days.
Peanut converts digital dollars to pesos at the real market rate when you withdraw to a CLABE. The rate locks on the confirmation screen — what you see is what you get. No card markups, no FX fee, no separate Peanut fee on the conversion. Deposits and withdrawals on SPEI and on every supported network are free.
For the US–Mexico corridor — the largest remittance flow in the world, around $63 billion a year — traditional providers charge 1–4% and take one to three days. With Peanut: send dollars from a US bank or exchange, deliver pesos to a CLABE in Mexico in seconds.
Who Uses Peanut in Mexico
Sending Remittances from the US
Mexico receives more remittances than any other country in the world. If you send money to family from the US, you know the cost: $5–$15 fees per transfer, a marked-up exchange rate, and a one- to three-day wait. With Peanut, you deposit dollars from your US bank or exchange and your family receives pesos directly in their CLABE in seconds. They don't need a Peanut account on their end — share a Peanut Link, they claim it, and the pesos land in their bank.
Digital Nomads
Mexico City, Playa del Carmen, Oaxaca, and Puerto Vallarta host some of the largest digital nomad communities in the world. Opening a Mexican bank account usually requires a CURP and residency paperwork. With Peanut you don't need either — verify with a passport, fund the balance from your home bank or an exchange, and withdraw pesos to a friend's CLABE when you need them. Pay your landlord, settle up with friends, or convert your dollar paycheck to pesos at the real rate.
Remote Workers Paid in Dollars
If you're working remotely for a US or European company and getting paid in dollars, Peanut lets you receive those dollars, hold them stable, and convert to pesos only when you spend. ACH from a US payroll, SEPA from a European one, or a stablecoin payout from a contractor platform all land free. Pull pesos out via SPEI whenever you need them.
Visitors from Spain
The Spain–Mexico corridor is significant for tourism and family ties. Deposit euros via SEPA — 90% arrive in under 20 minutes — then send pesos to any CLABE in Mexico in seconds, or hold your balance in dollars and pay locally on your next trip.
Getting Started
Verification
To use SPEI deposits or withdrawals you'll need to verify your identity once — a one-time check handled by our verification partner. Upload a photo of your passport or national ID and take a selfie. Most users pass automatically in under two minutes. No CURP, no RFC, no Mexican document of any kind required.
Crypto deposits and withdrawals require no verification at all.
Limits in Mexico: no hard limit. Transactions above roughly $100,000 USD equivalent get a manual review, same as in the US and Europe. The $2,000/month LATAM cap does not apply to Mexico — Mexico runs on the same provider as the US and EU.
Deposit Options for Users in Mexico
- SPEI (MXN): free, seconds, 24/7/365. Minimum about 50 MXN. Send from any Mexican bank or fintech to the CLABE Peanut shows you.
- Digital dollars: free, no minimum, gas covered. Send USDC or USDT from any exchange or wallet on the seven supported networks.
Deposit Options for Senders Abroad
- From the US: free ACH (1–3 business days), wire (same-day domestic; your bank may charge), or digital dollars (minutes).
- From Europe: free SEPA in EUR (90% under 20 minutes), or digital dollars.
- From anywhere else: digital dollars on any supported network.
FAQ
Do I need a CURP to use Peanut in Mexico?+
No. Peanut accepts a passport or national ID card from any country for verification. You don't need a CURP, an RFC, or a Mexican bank account to open an account, hold a balance, or move digital dollars in and out.You will need a Mexican CLABE (your own or a recipient's) to send or receive pesos via SPEI — that's a property of the receiving bank account, not of you as a Peanut user.
Is SPEI live in Peanut?+
Yes. SPEI deposits and withdrawals are live today. Top up your balance from any Mexican bank or fintech using the CLABE Peanut generates for you, and withdraw to any 18-digit CLABE in seconds. Free, 24/7/365 — including weekends and public holidays.Minimum onramp is about 50 MXN (around $3 USD equivalent). There is no Peanut-imposed maximum; transactions above $100k USD equivalent trigger a manual review.
When will CoDi QR payments launch?+
CoDi is on the roadmap. CoDi runs on the same SPEI infrastructure we already support, so the integration is an extension of work that's already live rather than a new buildout. We don't have a firm launch date yet — sign up for early access and we'll let you know when it ships.In the meantime, you can pay anyone in Mexico by sending a SPEI transfer to their CLABE or sharing a Peanut Link. Both settle in seconds.
What exchange rate does Peanut use in Mexico?+
The real market rate. Peanut converts digital dollars to pesos at the rate displayed on the confirmation screen — that rate locks the moment you confirm. No card-style FX markup, no foreign transaction fee, no separate Peanut conversion fee.Same-currency moves are free: deposit MXN via SPEI and withdraw MXN via SPEI, no conversion happens. Deposit dollars and withdraw pesos (or vice versa), and you get the real market rate at the moment of conversion.
How fast does Peanut deliver pesos to a Mexican bank?+
Seconds. SPEI itself is a real-time gross settlement system — Banxico's target is under 30 seconds end-to-end and the median in practice is well under that. Peanut initiates the SPEI transfer the moment you confirm, so the funds land at the receiving bank as soon as Banxico settles.That holds 24/7/365, including weekends and Mexican public holidays. Compare that to a US bank wire (1–5 days) or a traditional remittance provider (1–3 days).
Can I send money to someone in Mexico who doesn't have Peanut?+
Yes. Create a Peanut Link — a one-time payment link you share via WhatsApp, SMS, or any messenger. The recipient clicks the link, picks how they want to receive the money, and either cashes out to their CLABE in pesos via SPEI (seconds) or holds the balance in digital dollars. They don't need to install anything to claim and cash out.
What are the limits for users in Mexico?+
No hard limit. Mexico runs on the same provider as the US and Europe — there's no $2,000/month cap. Transactions above roughly $100,000 USD equivalent get a one-time manual review.Limits on crypto deposits and withdrawals: none.
