Abbreviations
Below you will find the list of abbreviations and terms used in describing the Clearings - Additional Functionality module.
| Abbreviation/Term | Expansion/Description |
|---|---|
|
CLABE |
Clave Bancaria Estandarizada (CLABE is an 18-digit id that contains the bank code, branch office code, account number, control digit). |
|
SPEI |
Interbanking Electronic Payment System or Sistema de pagos electrónicos Interbancarios. It is real time electronic funds transfer system owned and operated by Banco de México. |
|
TEF |
Electronic Funds Transfers. It is deferred type payment system offered in Mexico and the clearing house CCEN by CECOBAN. |
|
MXN |
Mexican Peso Official currency of Mexico. |
|
UDI |
Unidad de inversion (Unit of investment) – Index rate. |
|
Payment Order |
It is an instruction of a sender to a receiving bank directing a transfer of funds to a designated account or beneficiary. |
|
Standing Order |
A standing order is a way of setting up a regular, fixed payment from a bank account. |
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