Means of payment in Mexico

Payment media are regulated and overseen by the Central Bank (Bank of Mexico).

Collection

Exports to Mexico

  • Documentary Credit:
    bank promise to pay, payable against presentation of documents accrediting the export. It is subject to the internationally accepted rules of the CCI.
  • Buyer credit:
    for sales of machinery and capital goods, generally over a longer term. It is preferable to use Banco Sabadell’s buyer credit line.
  • Collections:
    collection management of commercial documents before the buyer by a bank in Mexico. This is more flexible and less costly than the documentary credit, but does not represent any guarantee of collection. Generally, these are remittances with a sight bill of exchange.
  • Open account:
    Spanish companies that pay with deferred and non-guaranteed payment will have an advantage over those that insist on confirmed documentary credit, but they will be running what is clearly a higher risk.

Payment

Imports from Mexico

  • Documentary Credit:
    a bank promise to pay, payable against presentation of documents substantiating the import.
  • Collections:
    collection management of payment for commercial documents with the buyer by the Spanish bank, without any guarantee of collection.