A CLABE (Clave Bancaria Estandarizada / standardized banking cipher / standardized bank code) is a standardized, 18 digit number used by Mexican banks and financial institutions. It identifies both the part of their organization or branch where a bank account is held and the number of the bank account itself. A CLABE is used to process domestic transfers of funds between accounts via bank transfer or other means.
Individuals or businesses that want to receive funds from elsewhere will typically need to provide a CLABE. Depending on the currency exchange specialist you use, a CLABE may be used instead of another international bank identification code, or you may need to provide alternative or additional details.
A CLABE consists of 18 digits. The first three define the specific bank, the next three indicate the branch code, the next 11 are for the specific account number and the last digit is a check digit.
Money Transfer Glossary
When it comes to exchanging money, paying for your transfer, understanding exchange rates and more, it’s important to understand what all the details mean. But don't worry. We’ve got you covered with our complete Monito glossary and guide to the most frequent terms you’ll come across when you send or receive money internationally.
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