Banco de Mexico SWIFT/BIC code

What BDEMMXMF means for a payment to Banco de Mexico

If an invoice shows BDEMMXMF or BDEMMXMFXXX, you are looking at the identical identifier for Banco de Mexico in Mexico. A SWIFT code tells the sending bank which institution should receive the money. In practice you mostly see the code on invoices from abroad, in your banking app and on the account details that Banco de Mexico provides.

Below we go through the practical side: money coming in from abroad, sending money abroad and how to check the code before you confirm a payment. The BIC names a bank or branch, not a single account; the IBAN or account number does that.

Paying into Banco de Mexico in MXN

Mexico uses the Mexican Peso. If you send money in a different currency it gets converted somewhere along the way – by your bank, by Banco de Mexico or by a bank in between. You rarely see a separate line for the conversion.

Who converts the payment matters, because each party uses its own rate. Often it is cheaper if you send MXN directly via a transfer service with a good rate rather than letting the receiving bank convert.

The MXN rate changes throughout the day, so the amount you see is usually only valid for a short time. With bigger transfers, a small gap in the rate can be worth more than the fee.

Transfer times and tracking a payment to Banco de Mexico

There is no fixed delivery time for every transfer: some arrive within a day while others need several business days. Bank holidays in either country add a day or more. Occasionally a bank asks about the purpose of a payment.

When a payment takes longer than expected, contact the sending bank about the status or the UETR so they can trace it along the chain. Keep the payment confirmation until the money has arrived.

If the money does not arrive within the expected time, the person who paid should contact their own bank, not the receiving bank. As a recipient, it helps to check your account for a slightly lower amount because fees can reduce the amount.

Head office or branch code at Banco de Mexico?

We have 2 SWIFT/BIC codes for Banco de Mexico in 1 cities. Besides the head office code BDEMMXMFXXX, you will find codes for individual branches and departments.

Unless the recipient tells you otherwise, use BDEMMXMFXXX. Branch codes are only needed when the recipient’s bank specifically mentions it.

When in doubt, ask the person you are paying for the exact BIC in their bank details. Branch codes are more prone to change than BDEMMXMFXXX.

Protect yourself against fake payment requests

One of the most common tricks goes like this: you receive a message claiming that a contact now has new bank details and that the next payment should go there. A real SWIFT code tells you nothing about who owns the account – scammers simply use real codes.

Verify changed payment details through a separate channel, such as a phone number you already know. Pressure and requests to keep it quiet are red flags – a real supplier can wait a day. Already paid? Contact your bank straight away and have them try to recall the payment and report the fraud.

Fraud can also target the receiver. Someone sends too much and wants you to return the extra to a new account. A payment confirmation from the sender is no proof – check your own account.

BDEMMXMF or BDEMMXMFXXX – which one to use?

A BIC is built from fixed blocks: characters one to four identify the bank, the next two show the country and characters seven and eight mark the location. The result is BDEMMXMF.

The 11-character version adds a three-character extension that identify a branch or department. When those three characters are XXX, they simply mean the head office, which is why BDEMMXMFXXX and BDEMMXMF lead to the same place.

Enter the code as one block, in capitals and without spaces, exactly as shown here. Watch for O versus 0 and I versus 1; they are easy to mix up.

About this information

We collect bank codes using public sources and update our list from time to time. Institutions reorganise, change names and change codes. Counts and locations come from our own dataset and may differ from what Banco de Mexico publishes.

Use this page as a reference, not as the final word – the bank details from the recipient are leading. GoldexPay is not affiliated with Banco de Mexico; we are a comparison site for money transfers. Found an error? Tell us through the contact page and we will look into it.

Getting paid from abroad into a Banco de Mexico account

To receive an international payment at Banco de Mexico, the person paying you needs not just the SWIFT code. In practice that means: your full name as registered with Banco de Mexico, your account number or IBAN, the SWIFT/BIC code BDEMMXMFXXX (or BDEMMXMF) and, often, your postal address.

You can include Banco de Mexico and Mexico too, since some forms ask for it. Double-check every detail before you share them – a sender rarely spots a mistake in someone else’s details.

The amount you receive is often less than what was sent. Correspondent banks can take a fee, and if the money is converted, a markup on the rate applies. For business payments, it is common to agree how the fees are split, so that nobody is left short.

Before you send: check the Banco de Mexico code

The safest source for a SWIFT code is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. Compare that code with BDEMMXMF on this page; if they differ, ask before you pay.

With a wrong code, the transfer may get stuck, bounce back or cost extra, and tracing it can take weeks. Remember the IBAN: a mistake there is more difficult to undo than a wrong BIC.

A format check by your bank only tells you that the code exists – not that it belongs to the person you mean to pay. Some banks now compare the name with the account. A small test payment is worth it for large sums.

Sending money abroad from Banco de Mexico

When you send money to another country from Banco de Mexico, the fee you see is rarely all of the cost. On top of the transfer fee, correspondent or intermediary banks may take a cut, and when the money changes currency, the bank often uses a rate below the actual market rate.

The markup on the rate is often the biggest item, and it is easy to miss. A simple test: put the bank’s rate against the mid-market rate for the same moment and work out the difference on your amount.

For a lot of currency pairs, a specialist provider is less expensive than a bank – mostly thanks to the rate. GoldexPay lists transfer providers side by side so you can see the amount the recipient gets. Using a transfer service does not require leaving Banco de Mexico: you simply pay the service from your account.