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What is a CLABE Number?

July 9, 2024July 15th, 2024No Comments
Mariel Rhetta
Content Strategist at Rutland FX
Published on: (Updated ) - minute read

If you’re planning to send money to Mexico, either internationally or domestically, you may have encountered the term “CLABE number.” In this article, we will explain what a CLABE number is, its format, and what the alternatives are for payments to Mexico.

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What is a CLABE Number?

A CLABE number (Clave Bancaria Estandarizada) is a standardised 18-digit number required for both international and domestic transactions in Mexico. It functions similarly to an IBAN or an account number in the UK, ensuring that funds are routed accurately to the recipient’s account. You can obtain the CLABE number from your recipient, and it should be listed on their bank statement, chequebook, or a supplier’s invoice.

What is the Format of a CLABE Number?

A CLABE number is an 18-digit identifier required to make payments to Mexico in Mexican Pesos (MXN). The format of the CLABE number is structured to provide specific information about the bank and the branch involved in the transaction. Here’s a detailed breakdown of the CLABE number format:

Example CLABE Number: 032180000118359719

First Three Digits: These digits identify the bank. Each bank in Mexico has a unique three-digit code. For example, in the code 032180000118359719, the bank is identified by the digits 032.

Next Three Digits: These digits identify the bank branch. This segment of the code indicates the specific branch where the recipient’s account is held. In the code 032180000118359719, the digits 180 identify the branch.

Next Eleven Digits: These digits are the account number of the recipient. In the code 032180000118359719, the digits 00001183597 are the recipient’s account number.

Last Digit: This is a control digit used to verify the CLABE number's validity. In the code 032180000118359719, the digit 9 is the control digit.

With Rutland FX, you can either use the CLABE number and SWIFT code or the account number and SWIFT code to send money to Mexico.

Where Do I Enter the CLABE Number?

If You Have an Account with Rutland FX

Once you have obtained the CLABE number from your recipient, be sure to double-check it with them for accuracy. When you are ready to proceed, navigate to the beneficiaries tab on the Rutland FX portal and select “add a new beneficiary.” After entering the initial recipient information, you will encounter a page prompting you to input the CLABE number. If necessary, you can also reach out to your account manager, who will assist you in adding a new beneficiary to your account.

If You Do Not Have an Account with Rutland FX

If you do not have an account with Rutland FX, you will need to enter the CLABE number on your banking platform or payment provider. When creating the recipient, there should be an option to enter the CLABE number. Ensure that you double-check the CLABE number with your recipient for accuracy. Most banking platforms will guide you through the process of adding a new beneficiary and will prompt you to input the CLABE number along with other necessary details such as the recipient’s bank account number and the SWIFT/BIC code. If you encounter any difficulties, your bank’s customer service team can provide assistance.

What Other Bank Account Details Will I Need?

When making an international payment to Mexico from the UK, you will need to provide additional bank account details. You can either use the BIC/SWIFT code along with the CLABE number and the company name and address, or the BIC/SWIFT code along with the account number and the company name and address. Both methods ensure that the transaction is processed accurately and reaches the intended recipient in Mexico. Ensure that all details are double-checked for accuracy before proceeding with the transaction to avoid delays or errors.

Still not sure?

If you are still unsure or have any further questions, please call us on 0203 026 0112 or request a callback to discuss your requirements.