Glossary: SPEI, CLABE, CEP

Mexican payments

Term	Meaning
SPEI	The network for electronic transfers within the Mexican banking system. Fincore sends and receives money through it. Fincore’s list of SPEI participants tells you which banks and institutions you can send to.
Banxico	Returns the CEP for a transfer. With the CNBV, it regulates Domiciliación Bancaria.
CNBV	Regulates Domiciliación Bancaria together with Banxico.
CLABE	Clave Bancaria Estandarizada. The 18-digit Mexican bank account identifier. The first three digits identify the bank; the rest identify the branch and account.
CEP	Comprobante Electrónico de Pago. The receipt Banxico returns for a transfer. It includes the name and tax ID of the account holder, which is why penny validation uses it.
Domiciliación Bancaria	The Mexican standard for direct debit. Merchants can pull payments from a customer’s bank account or debit card if the customer authorized it with a mandate.
Mandate	The customer’s authorization for a merchant to collect by direct debit, once or on a schedule. The merchant gets and keeps the mandate. Monato does not manage mandates.
Chargeback	A reversal of a confirmed direct debit charge, requested by the customer through their bank. Customers can request one up to 90 days after the debit.
RFC	Registro Federal de Contribuyentes. The tax ID that the SAT issues to people and companies. Alphanumeric, usually 12 to 13 characters.
CURP	Clave Única de Registro de Población. The national population registry key for individuals. 18 alphanumeric characters.

Monato terms

Term	Meaning
Penny validation	An account ownership check. Monato sends MXN $0.01 to the account, gets the CEP from Banxico and compares the holder data. Available in Fincore and Direct Debit.
Instrument	A stored reference to a payment method, such as a CLABE or a debit card. Fincore and Direct Debit use instruments in transactions and charges.
Centralizing Account	Your main Monato account in Fincore. It sends and receives money and usually acts as the treasury hub for your integration.
Private account	In Fincore, a dedicated CLABE you assign to a customer, product or collection flow.
Business Unit	In Fincore, a sub-account that operates as its own legal entity, with its own RFC, CLABE and reporting.
Money In	In Fincore, funds arriving in a Monato account, from an external SPEI deposit (`SPEI_CREDIT`) or an internal Monato credit (`INT_CREDIT`).
Money Out	In Fincore, sending money to a CLABE or a debit card. If the destination is a Finco Pay (Monato) account, Fincore routes it as an internal book-to-book transfer without SPEI.