Send money to Compartamos Banco in Mexico

Compartamos Banco is a Mexican-based bank that offers basic accounts, loans, insurance, and investing. However, one service Compartamos Banco doesn’t offer is international bank transfers.

If you need to send money to Mexico, there are other methods you can use, such as an international money transfer via Western Union. In our guide below, we’ll show you how to send money to a Compartamos Banco account, whether you’re located inside or outside of Mexico.

Key takeaways

• Compartamos Banco doesn’t offer or accept international bank transfers and doesn’t have a SWIFT code.
• If you have a Mexican bank account, you could make a domestic bank transfer to a Compartamos Banco account.
• Use Western Union if you want to send money internationally to a Compartamos Banco account.
• You can also send money to Mexico in other ways, such as digital wallet transfers or cash pickups at a local Western Union location.

How to send money to Compartamos Banco customers

In general, an international wire transfer to a Mexican bank account requires providing the recipient’s name, the bank name, and the recipient’s CLABE, SPEI, or bank account number.

However, Compartamos Banco is not part of the SWIFT network (the network that facilitates international wire transfers), so you can’t do a bank-to-bank transfer from outside of the country. If you have a Mexican bank account, you can do a domestic bank transfer.

How to send money to Compartamos Banco domestically

To send money to Compartamos Banco from another Mexican bank:

1. Log in to your bank account and choose “Transferencias.”
2. Enter the recipient’s name and CLABE number for their Compartamos account.
3. Enter the amount you wish to send in pesos (MXN).
4. Verify you have the details correct, then authorize the transaction.
5. Be sure to save a copy of your receipt.

More ways to support friends and family in Mexico

There are other ways to send money to Compartamos Banco customers besides bank-to-bank transfers. Money transfer services like Western Union offer much more flexibility, both in terms of how you pay and how your recipient gets the funds. Plus, you don’t need a Mexican bank account when you send money directly via Western Union.

Below are a few methods you can use.

Transfer to bank account

You can use Western Union instead of a bank to send money directly to a Compartamos Banco account. That’s because Western Union has built a strong network of local partnerships and settlement agreements. These trusted local partners don’t need to rely on SWIFT codes to process transfers quickly and efficiently.

You’ll need the following details to send money to a Compartamos Banco account via Western Union:

• The recipient’s full name and contact info
• Bank name and account number

Typically, your loved one will receive the funds to their bank account within a day or two using this method.

Send to mobile wallet

Western Union also offers quick and easy mobile wallet transfers. These transfers let you send funds right to someone’s digital wallet (such as Apple Wallet, Google Wallet, or Mercado Pago). They can then use the funds to buy groceries,

To send money to a mobile wallet with Western Union, log in to your account online or on the Western Union app. Enter the receiver’s full name, mobile wallet type, and email address. They’ll receive the funds directly to their mobile wallet within minutes.

Cash pickup

Family or friends can also stop by a local Western Union location for a cash pickup. There are thousands of Western Union partner locations, making this a convenient option when you want to send cash.

To send money for a cash pickup, you can use the Western Union app or website to pay by card, digital wallet, or bank account. You can also start the transfer online, then stop by a Western Union location close to you to pay in-store. Your receiver could get the money in a few minutes or a few days, depending on how you pay.

Manage money across borders

Sending money to a Compartamos Banco account can be simple when you use Western Union. You don’t need a Mexican bank account, and you’re not limited to sending money to a bank account, either. Western Union offers multiple ways to send money to Mexico, including mobile wallet transfers and cash pickups. That makes it easy for your friends and family to get the money they need for bills, shopping, or anything else.

Initiate a money transfer online and choose from several ways to pay, such as credit card, debit card, mobile wallet, or bank account. Download Western Union’s international money transfer app and send money in whichever way works best for you.