Mexico: Changes to SWIFT BIC for MXN cash payments
Clearstream Banking1 informs its customers that effective
21 November 2020
it will only recognise SWIFT BIC: CITIUS33MER for any payment performed to Citibanamex Mexico as CBL cash correspondent bank (CCB) for Mexico (MXN). SWIFT BIC: BNMXMXMMCVT will no longer be valid for local counterparties wishing to wire funds to a CBL customer. Cash instructions with the wrong SWIFT BIC will be rejected.
Background
Currently, for cash payment instructions submitted to SWIFT BIC: BNMXMXMMCVT, Citibanamex Mexico sends confirmations to customers from SWIFT BIC: CITIUS33MER. Due to developments performed by Citibanamex Mexico to obtain the GPI SWIFT certification, effective 21 November 2020, confirmations related to cash payment instructions submitted to SWIFT BIC: BNMXMXMMCVT will also be sent from this SWIFT BIC instead of SWIFT BIC: CITIUS33MER.
As a consequence, as of 21 November 2020, Clearstream Banking will only accept instructions sent to SWIFT BIC: CITIUS33MER for any payment performed to Citibanamex Mexico as CBL cash correspondent bank (CCB) for Mexico (MXN).
Impact on customers
CBL customers are required to review procedures with their local counterparties and update (where applicable) their standing instructions in place for cash payments in MXN.
As of 21 November 2020, only SWIFT BIC: CITIUS33MER will be used for incoming and outgoing messages. Payments containing the wrong SWIFT BIC will be rejected.
Further information
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.