Banco de México simplifies mobile transfers with new identifier rules

The Bank of Mexico (Banxico) has modified regulations for electronic transfers made via mobile devices to simplify the process for users. Under the new Circular 10/2026, individuals will no longer be strictly required to enter the 18-digit Standardized Banking Code (CLABE) or 16-digit debit card numbers to send money.

Instead, the new standard allows for the use of alternative identifiers or aliases associated with a bank account. This includes using a mobile phone number as an identifier, which banking applications can use to consult and verify the recipient's account. Additionally, transfers can be facilitated through QR codes. While the CLABE will remain available for account identification, these new options aim to make mobile money transfers more efficient and user-friendly.