A peso deposit to Binance by SPEI goes through Medá, a Binance group company that holds your MXN. In the app you open Add Funds, then Deposit MXN, choose Bank Transfer (SPEI), finish CURP verification if asked, create or log in to Medá, and send pesos from a Mexican bank account in your own name to the CLABE shown on that screen. Binance says the credit should arrive within about 30 minutes.
👉 Open a Binance account with GETREWARD
That is the whole route on paper. In practice, most stuck or bounced deposits come from a few beliefs that sound reasonable and turn out to be wrong. Below are nine of them, each set against what Binance's help pages and Banco de México actually say, with peso numbers where they help.
All exchange rates and amounts on this page are made-up illustrations. Your screen will show different ones.
What do you need ready before the first transfer?
A verified Binance account: The MXN bank channel is for individual users who have passed identity verification.
Your CURP: The 18-character population registry key. Binance asks for it so it can tie a CLABE to you and nobody else.
A Medá account: Opened from inside the Binance app with your phone number, email, ID document and a face check. If you already have one, you log in with phone and password.
A bank account in your name: Any Mexican bank or neobank that sends SPEI, held by the same person who passed KYC on Binance.
Room in your bank's own limits: Your bank app may cap transfers to a newly added account, so check that before a large first deposit.
Does SPEI being instant mean a late credit is lost money?
Myth: SPEI moves money in seconds, so if the pesos are not on Binance after five minutes something went badly wrong.
Fact: SPEI itself settles almost in real time between banks. The Medá side then has to match the transfer to your account and credit it, and Binance quotes up to about 30 minutes for that step.
Say you send MXN 2,500 at 21:10 on a Sunday. If nothing shows by 21:40, open Orders, then Deposits, then Cash in the app and look for a pending line. A pending line means the pesos were seen and are being processed, which is very different from a transfer that never left your bank.
Only once that window has passed with nothing in the history is it time for the bank-side check further down this page.
Is a deposit on this rail charged as a percentage?
Myth: Binance keeps a cut of every peso you bring in, the way card top-ups often work.
Fact: Binance's MXN deposit guide doesn't list a percentage fee for the SPEI rail, and its fiat fee table shows bank-transfer deposits at 0 for the currencies in the capture below. Your own bank decides whether it charges you to send an SPEI, and most retail bank apps in Mexico let you send them at no cost, but read your bank's fee schedule rather than assuming.
The real cost of turning pesos into crypto shows up later, in the quote you accept when you convert, and that is where the worked example near the end of this page looks.
Can you reuse a CLABE that worked for a friend?
Myth: Binance has one deposit CLABE for Mexico, so the number in a YouTube tutorial or a friend's screenshot is as good as yours.
Fact: The CLABE on your deposit screen is your individual Medá account, tied to you through your CURP. A CLABE is 18 digits, and sending to someone else's means the pesos land in their account, not yours.
The same goes for anyone in a Telegram group or a DM who offers to "give you the Binance CLABE" or to "speed up" a deposit. Genuine staff never ask you to send money to an account they type into a chat.
Copy the CLABE from your own app every time, and compare the last four digits on the bank's confirmation screen before you approve.
Will a transfer from a partner's or company account go through?
Myth: Pesos are pesos. If your sister sends MXN 5,000 from her account to your CLABE, Binance will credit you anyway.
Fact: Binance's limits FAQ says the account holder's name and taxpayer number at the bank must match the person who passed verification, and transfers from third-party accounts are not accepted. Company accounts fall under the same rule, because this channel is for individual users.
A mismatched transfer is usually sent back to the account it came from. Binance's own advice for refund questions is to talk to the sending bank, so expect to track it from that side, and expect it to take longer than the deposit would have.
Do the monthly limits count pesos and reset 30 days later?
Myth: You can send as many pesos as you like each day, and any cap resets 30 days after your first deposit.
Fact: Binance sets monthly bank-transfer limits in US dollar terms by verification level and renews them on the first day of each calendar month.
Level 1: Deposits up to 5,000 USD a month, withdrawals up to 10,000 USD.
Level 2: Deposits up to 15,000 USD a month, withdrawals up to 30,000 USD.
Level 3: Deposits up to 40,000 USD a month, withdrawals up to 80,000 USD.
Here is how that plays out with a made-up rate of MXN 18.40 per dollar. A Level 1 cap of 5,000 USD is about MXN 92,000.
3 October: MXN 60,000 sent, roughly 3,261 USD used.
20 October: MXN 30,000 sent, roughly 1,630 USD more, for about 4,891 USD in total.
28 October: A further MXN 5,000 would add about 272 USD and push the month to roughly 5,163 USD, so it is over the cap.
The fix is either to wait for 1 November, when the counter starts again, or to finish the next verification level under Plus Verification. Since the cap is in dollars, a weaker peso means you hit it with fewer pesos than the month before.
Does SPEI stop working at night and on weekends?
Myth: Bank transfers only move on business days, so a Saturday deposit sits until Monday.
Fact: Banco de México runs SPEI around the clock, every day of the year. The delays people hit at odd hours come from their own bank, for example a hold on a recently added beneficiary, a lower cap for night transfers set in the app, or a security review on an unusually large amount.
If your bank lets you register the Medá CLABE in advance, do it a day before you need it. A test of MXN 500 the first time costs nothing and shows you how long your own bank takes.
Is there nothing your bank can do if Binance shows no deposit?
Myth: Once the pesos have left, only Binance support can tell you where they are.
Fact: Banco de México's CEP service, at banxico.org.mx/cep, tells you what happened to any SPEI transfer. You need the date, the clave de rastreo from your bank's receipt (up to 30 letters and digits), the sending and receiving institutions, the beneficiary CLABE and the exact amount.
The answer falls into one of four cases.
A CEP is generated: The receiving institution confirmed it credited the money. Download the PDF and XML and send them to Binance support with your deposit details.
Status liquidado: SPEI delivered the money but the receiving side hasn't confirmed the credit yet. Banxico says to take it up with the receiving institution, which here means Medá through Binance support.
Returned: The receiver sent it back, often because of a name mismatch. Your bank owes you the explanation and the funds.
No record: The transfer never went through SPEI. Ask your bank why your instruction wasn't processed.
If the search says "operación no encontrada", one of the fields is off. Check that the amount includes centavos exactly and that the date is the day you sent it, not the day you noticed.
Keeping these receipts in one place also helps later. This guide to fixing bank statement requests for P2P and deposits covers what Binance usually wants to see when it asks you to prove where money came from.
Is a P2P order with SPEI the same as an SPEI deposit?
Myth: Buying USDT on P2P with SPEI as the method is just a deposit with extra steps.
Fact: They are different trades. In an SPEI deposit you move pesos to your own Medá account and they count against your monthly limit. In a P2P order you send pesos to another user's bank account at their price, and Binance holds their USDT in escrow until they release it.
P2P can still make sense when you have hit your monthly cap or want USDT straight away, but you are dealing with a stranger and a markup, so the name-match and screenshot rules of that market apply. Brazil runs a very similar setup with Pix, and this step-by-step Pix deposit guide for BRL shows how the same choice looks there.
Does Medá's authorization cover the whole Binance app?
Myth: Because pesos go through a Mexican authorized institution, everything you do on Binance is supervised in Mexico.
Fact: Medá's legal name is Programas de Relacionamiento Medá, and the CNBV authorized it in May 2022 as an electronic money institution, an IFPE under Mexico's Fintech Law. That covers its peso accounts, deposits and withdrawals.
It does not turn the crypto trading on Binance into a Mexican bank product. Your peso balance at Medá and the coins you buy afterwards sit under different rules, and crypto prices can fall as well as rise.
What happens to the pesos once they land?
Your MXN balance is not crypto yet. Most people turn it into USDT or another coin through Convert, which shows the final amount before you confirm.
A made-up example. You deposit MXN 10,000 when the dollar trades at MXN 18.40. At that mid rate you would get about 543.48 USDT. Say the Convert screen quotes MXN 18.52 per USDT instead.
What you receive: 10,000 divided by 18.52 is about 539.96 USDT.
The gap: About 3.52 USDT, or roughly MXN 65, which is 0.65% of the deposit. That spread is your real cost on the way in.
Splitting doesn't fix it: Five converts of MXN 2,000 at the same quote land on the same 539.96 USDT, just with more clicks.
Quotes change by the second and by the size of the order. Compare the number in the To box with a rough mid rate before you tap Convert, and if the gap looks wide, wait a few minutes or try a smaller amount to see how the quote moves.
Which records should you keep for SAT?
Mexico taxes gains when you sell or swap crypto, and the gain is worked out against what the coins cost you in pesos. Every SPEI deposit and every convert is part of that cost trail.
From your bank: The SPEI receipt with its clave de rastreo, plus the CEP PDF and XML.
From Binance: The Cash deposit history and the Convert history, exported monthly.
Your own note: The peso amount, the coin amount and the date for each buy, in one sheet.
How a given sale is taxed is a question for a contador who knows your situation.
What should you check in the minute before you send?
Account: Binance verified, CURP done, Medá open.
Sender: The bank account is yours, under the same name and RFC as your KYC.
CLABE: Copied from your own deposit screen today, last four digits matched.
Amount: Fits this month's dollar limit and your bank's own cap.
Receipt: Saved with the clave de rastreo before you close the bank app.
Waiting time: About 30 minutes before you look for a problem.
If you are setting up a new Binance account for this, the link near the top carries GETREWARD. Eligible new users can also look at the welcome bonus tasks Binance runs for new accounts, where completing set tasks can lead to rewards of up to $19,800.
Treat this page as general information, not financial or tax advice. Limits, screens and Mexican rules change, so confirm them in the app and with your bank.
FAQ
Can I send pesos back to my bank the same way?
Yes. Binance supports MXN withdrawals by bank transfer to an account in your name, within the monthly withdrawal limit of your level.
My bank asks for a beneficiary name. What do I type?
Use the beneficiary details shown on your deposit screen next to the CLABE. The CLABE is what routes the money, but a matching name avoids questions from your bank.
I already use Medá outside Binance. Do I need a second account?
No. Choose the option for an existing Medá account and log in with your phone number and password.
Can my small business deposit through this channel?
Binance describes this channel as being for individual users who have passed verification, so a company account sending to a personal CLABE will be treated as a third party.
How long can a deposit order stay open?
Binance's limits FAQ says that once you create a purchase request by bank transfer, you have 48 hours to send the money before it expires. If you waited longer than that, start a fresh request.
Disclosure: GETREWARD, used in the sign-up link on this page, is my own code. Every rate and peso amount above is an illustration, not a quote or a forecast.