Banco Monex, S.A. SWIFT/BIC code

SWIFT/BIC code of Banco Monex, S.A.

MONXMXMM and MONXMXMMXXX are two ways of writing the same SWIFT/BIC code, and both point to Banco Monex, S.A. in Mexico. A BIC has a single purpose: it ensures that a cross-border transfer reaches the right bank. In daily life you mostly come across it on international invoices, in your banking app and on the account details that Banco Monex, S.A. provides.

On this page you will find how the code is put together, when you need it and what else a transfer to or from Banco Monex, S.A. requires. A SWIFT code identifies an institution, never a specific account, which is why you always need the account number too.

How up to date is this code?

This directory draws on publicly available sources and is updated regularly. Institutions reorganise, change names and retire codes – a directory can be a step behind. The number of codes we show are based on what is in our directory and not on information from Banco Monex, S.A. itself.

For a payment that matters, always confirm the BIC with Banco Monex, S.A. or with the recipient. GoldexPay is a comparison service for money transfers and not part of Banco Monex, S.A.. Spotted an error? Tell us via our contact form so we can correct it.

Receiving money from abroad at Banco Monex, S.A.

For a transfer from abroad at Banco Monex, S.A., the sender has to have more than the BIC. Give them your name as the bank knows it, your account number or IBAN, SWIFT code MONXMXMMXXX and your address.

It helps to include the bank name and its city as well. Check every detail before you send them.

An incoming payment will not always arrive for the full amount. Correspondent banks can take a fee, Banco Monex, S.A. may charge for incoming payments, and if the money is converted, a markup on the rate comes on top. Agree with the sender who pays which costs.

Paying into Banco Monex, S.A. in MXN

The currency in Mexico is the Mexican Peso (MXN). A payment in a foreign currency will be converted into MXN on its way to Banco Monex, S.A., and whoever converts it chooses the rate. Each conversion costs something.

Who converts the payment makes a difference: every bank has its own margin. Transferring the amount already in MXN often avoids a second conversion at the receiving end – as long as your own rate is good.

Rates for MXN move all the time, and some providers let you lock in a rate. With bigger transfers, even small difference in the rate adds up quickly.

Paying someone abroad from your Banco Monex, S.A. account

The price of an international transfer is made up of more than one component, and the transfer fee is only the most visible one. There is the fee for the transfer itself, possibly fees charged by intermediary banks along the way and, most importantly, the margin on the exchange rate if the currency changes.

Many banks do not show the margin on the rate as a cost – you only notice it if you compare. A simple test: set the bank’s rate next to the mid-market rate for the same moment and work out the difference on your amount.

For a lot of routes, a transfer service is cheaper than a bank – mostly thanks to the rate. GoldexPay compares what recipients receive with different services. You can still use your account at Banco Monex, S.A. to fund the transfer, while a cheaper service handles the conversion.

How to check MONXMXMM before you pay

The most reliable source for the BIC is the recipient’s own bank details – an invoice, a statement or a screenshot from online banking. Compare that code with MONXMXMM here and ask if anything does not match.

An incorrect BIC can cause delays, a returned payment or extra fees along the way. A mistake in the account number is more serious because it can reach the wrong person, so check that just as carefully.

Most online banking apps check the format of IBANs, but that does not prove the account belongs to the right person. Where available, a payee name check before sending adds extra certainty. Sending a small amount first is a sensible step for a large first payment, even if it costs an extra fee.

Choosing between the 2 SWIFT codes of Banco Monex, S.A.

We have 2 SWIFT/BIC codes for Banco Monex, S.A. in 1 cities. Besides the head office code MONXMXMMXXX, you will find codes for individual branches and departments.

In most cases there is no need to look up a branch: payments addressed to MONXMXMMXXX reach Banco Monex, S.A. correctly. If you have been given a branch code, stick to it instead of replacing it for the head office code.

When in doubt, ask the person you are paying for the exact BIC in their bank details. Codes are sometimes changed or retired over time, so a code from an old document is not always valid.

What the XXX in MONXMXMMXXX means

The structure of a BIC never changes: four characters for the institution, a two-letter country code and a two-character location code. The result is MONXMXMM.

Many banks and apps work with both lengths. If yours asks for eleven characters, enter MONXMXMMXXX.

Type the code as one block, in upper case and without spaces. Pasting the code is safer than retyping it.

Transfer times and tracking a payment to Banco Monex, S.A.

A SWIFT payment typically takes one to a few business days. Transfers sent after the cut-off time or just before weekends and holidays usually start a business day later. Sometimes a bank wants to know what the payment is for, which can hold things up.

Many banks are connected to SWIFT gpi, which lets them follow a payment from bank to bank. Each payment carries a unique transaction reference, the UETR. Keep the payment confirmation – you will need it for any trace request.

A missing payment is investigated from the sending side on the basis of the transfer details. On the receiving end, it helps to check your statements for a slightly lower amount, since fees may have been deducted.

Changed bank details? Be careful

Be alert if someone suddenly wants you to pay into another account or a bank in another country. A correct SWIFT code says nothing about whether the request is genuine.

Verify changed payment details through a separate channel. Watch out for time pressure, unusual wording or an email address that differs by one letter. Already paid? Call your bank without delay and have them try to recall the payment.

Scams can also work the other way. Someone sends more than agreed and asks you to refund the difference. A screenshot of a transfer is no proof; only your own account shows what has arrived.