SPEI (Sistema de Pagos Electrónicos Interbancários) is a payment system founded by Banco di Mexico and is available to residents of Mexico. The solution is also popular among casino fans as they can often use it for their online casino payments. SPEI payments enable casino players to handle their casino balances with ease and still stay safe while funding their accounts.
SPEI is a payment method that is supported by some of the biggest banks in Mexico, enabling users to pay for online purchases using their online or mobile banking accounts. Due to its limited market, SPEI is not among the most popular solutions at virtual casinos. That said, more casinos that cater to Mexican players are adding the payment system to their supported payment options.
|Connecting bank card/account to SPEI||N/A|
|Withdrawal balance from SPEI to your bank card/account||N/A|
|Pay to online merchants||Free (fees may apply depending on the policy of your bank)|
|Available for deposit||Yes|
|Available for withdrawal||Yes|
|Usual deposit time in online casino||Instant|
|Usual withdrawal time from online casino||Instant|
|Live chat||Varies according to bank|
|Telephone support||Varies according to bank|
|E-mail support||Varies according to bank|
There are quite a few advantages to using SPEI for your casino payments and we will make sure to cover all important aspects of the banking service. That way, you can easily make your next casino transaction using the service of SPEI.
Using SPEI for Gambling Transactions
Before you head to the online casino of your choice and try to deposit via SPEI, you must keep a few things in mind. This payment solution is supported only in Mexico, so you will have access to the service only if you reside within the said country. What is more, while SPEI is offered by some of the biggest Mexican banks, it is not available at every bank in the country. To make sure that you can make use of the service, check with your bank if you can make SPEI payments.
Once you have established that your bank offers SPEI payments, you will need to link your bank account with this payment solution. You can ask any of the bankers of your bank to help you with setting up your SPEI payments. When you are done with this step, you can head to the online casino where you will be able to initiate your payments via the banking service.
When you want to top up your gaming account via the service of SPEI, simply head to the deposit page of the online casino and choose SPEI from the list of available payment methods. Enter the amount you would like to deposit and you will see a voucher being generated, containing all of the information required for the payment. You will then be asked to proceed with logging into your online or mobile banking account. For this step, you will need to use the sign-in details that you typically provide when you log into your online/mobile banking profile.
The final step of your SPEI deposit is to confirm the payment, after which, you will return to the casino’s deposit page. After that, you will receive an email confirming your payment and the money will appear in your casino account in a few seconds.
In most online casinos, players will be allowed to use SPEI for their withdrawals as well. The entire process will be extremely easy to initiate and you will be able to cash out your winnings in a hassle-free way. You can start by heading to the withdrawal page of the online casino and selecting SPEI as your payment option. Enter the amount you want to withdraw and you will be redirected to a page where you will be asked to provide your bank account number, name, and address. After the casino approves of your withdrawal, the money should appear instantly in your bank account.
|SPEI Gambling Transactions|
|Supported transactions||Deposits and withdrawals|
|Deposit pending time||Instant|
|Withdrawal pending time||Up to 48 hours|
|Additional security||encryption, firewalls, secured devices|
Advantages and Disadvantages of Using SPEI as a Payment Method
If you are unsure if SPEI is the right service for you, there is the option to compare the good and bad sides of using SPEI for casino transactions. That way, you can decide whether this option will be suitable for your casino endeavors.
Since SPEI is a service that is supported by several of the biggest banks in Mexico, it is a payment solution that is available to quite a large number of Mexicans. That means that SPEI can be used by numerous Mexican players for their virtual casino payments. As more online casinos that cater to South Americans integrate SPEI payments into their banking solutions, Mexican players can find several online casinos where they will be able to use the service.
Another advantage of the payment system of SPEI is that it is available for all types of casino transactions. This means that you will be able to make both deposits and withdrawals via SPEI. Many will find this feature very convenient as they will not be required to look for different methods to handle their casino payments.
The safety that SPEI payments offer to their users is yet another advantage that many casino players will appreciate. Even though players are using their online/mobile banking accounts to handle their casino transactions, they will not expose any type of sensitive information during the payment process. Since SPEI will act as a mediatory service, it will protect the banking details that you will provide to log into your online or mobile banking account. That way, your banking information will not be shared with the online casino.
Transactions via SPEI are extremely fast, allowing players to instantly top up their casino accounts and wager real money on their favorite games. Withdrawals are also processed instantly once the virtual casino approves the SPEI withdrawal requests of players.
While SPEI may offer a wide range of advantages to players, it is still a payment solution that has several disadvantages. Since SPEI is a payment system available only in Mexico, it is not very popular among online casino operators as they tend to cater to international players. That is why it may be difficult to find a gaming website where you will be able to use SPEI for your payments. That is due to the fact that casino operators must have their bank accounts set up in Mexican pesos so Mexican players can initiate SPEI payments in their local currency.
Even though SPEI is supported by major banks in Mexico it is not a service offered by every bank in the country. This means that it is possible to not be allowed to make use of the SPEI payment solution.
The SPEI payment system is used only for transactions in Mexican pesos, further limiting players’ options for the online casinos where they can use this service.
SPEI Pros and Cons
Fees for SPEI Gambling Transactions
When players are managing their casino transactions, they must be certain of any potential fees they might be charged. Fortunately, SPEI payments usually do not incur any surcharges applied on the behalf of online casinos. That includes both deposits and withdrawals via the payment system. That said, it is always a good idea to first check with the online casino as some gaming websites do charge transaction fees.
While online casinos may not impose fees on payments via SPEI, your bank may impose some transaction fees for using the payment system. Those fees, however, depend on the fee policy of the specific bank and may differ, depending on the bank you are using. Even if you are required to pay any fees for using the service, usually the rate of the surcharges that will be levied tends to be rather low.
|Gambling deposit fee||Free|
|Gambling withdrawal fee||Free|
|Bank account deposit fee||Varies according to bank|
|Bank account withdrawal fee||Varies according to bank|
|Credit/debit card deposit fee||Varies according to bank|
|Credit/debit card withdrawal fee||Varies according to bank|
|Maintenancce fee||Varies according to bank|
Processing Time with SPEI
One of the strongest sides of the SPEI payment system is the speed of transactions, which is a feature that many casino fans would appreciate. As it enables real-time confirmation of payments, SPEI allows casino players to top up their gaming accounts instantly. The entire process of selecting the amount you would like to deposit and confirming the transaction via SPEI takes just a few minutes.
Mexican players are using their online or mobile banking accounts to verify their casino payments and once they are all done with all depositing steps, they are sent a confirmation email almost instantly. This means that their funds appear in their casino accounts just a few seconds after they have completed the depositing process.
When it comes to withdrawals, players might have to wait a little longer. That is, however, due to the pending period during which the casino has to approve your withdrawal request. Typically, the pending period lasts around 48 hours but it depends on the online casino how fast it will approve your request. That said, after your cashout is verified, the money will be instantly transferred to your bank account.
The fast transactions are definitely appreciated by casino players as they can enjoy their favorite casino games right after depositing to their accounts. What is more, not all payment solutions allow players to enjoy their winnings in such a speedy manner, making SPEI a very suitable payment method for both casino deposits and withdrawals.
|SPEI Processing times|
|Gambling deposit time||Instant|
|Gambling withdrawal time||Instant|
|Bank account deposit time||Varies|
|Bank account withdrawal time||Varies|
|Credit/debit card deposit time||Varies|
|Credit/debit card withdrawal time||Varies|
As already mentioned, Mexicans can use their mobile banking accounts to make payments through the payment system of SPEI. This means that mobile casino players will have no issue depositing to their accounts or requesting withdrawals via SPEI while they play on the go. The whole payment process carried out via a smart device will be similar to your casino payments on PC devices.
If you already have a mobile banking app installed on your handheld device and you have linked your bank account with the SPEI payment system, you are good to go. The first steps of initiating a payment are the same, as you will need to head to the deposit/withdrawal section of the app or mobile casino and choose SPEI as your payment method. Enter the amount you would like to deposit or withdraw and follow the next steps to complete the transaction.
Instead of logging into your online banking, if you are playing on your phone, you will be required to log into your mobile banking. If you have installed a dedicated mobile app on your smart device, it will open to prompt you to log in and confirm the payment. Mobile banking apps often offer users additional security tools they can use to sign into their accounts. Once you have gained access to your mobile banking account, you can verify the payments and you will be ready with the payment.
If you do not have a mobile banking app installed on your smart device, you can still initiate SPEI payments on the go. The entire payment process will be similar to the one carried out on desktop devices as you will be redirected to a page to sign in to your mobile banking account via the browser app on your mobile device. A confirmation email is sent in real-time, ensuring that even on the go, your SPEI payments will be processed instantly.
|SPEI Mobile Payments|
Security at SPEI Online Casinos
Using the SPEI service for your casino transactions will allow you to conduct your deposits and withdrawals in a very safe way. That is due to the protected and private network that is used to process your payments. Since the SPEI system is using online banking or mobile payments, your transactions will be very well protected as these methods require the use of security devices such as tokens or security cards.
While you are initiating payments via SPEI, the details that you will provide to access your online/mobile banking account will not be shared with the online casino. The information that you share will be encrypted so no unauthorized third party can access it. What is more, the data shared by SPEI users will be secured via industry-standard tools and technology such as firewalls and protected servers.
You can be sure that SPEI is a secure payment solution as it is offered by some of the biggest banks in Mexico. These institutions are required to be compliant with the regulations and security rules imposed by the National Banking and Securities Commission (CNBV), making the service SPEI very reliable.
Since SPEI also allows users to use their mobile banking accounts to verify their transactions, payments via this financial system are secure even on the go. Most banks offer dedicated mobile banking apps that customers can install on their smart devices. These apps often enable users to turn on additional security measures and use tools like biometrics, special PINs, and two-factor authentication to access their mobile banking accounts.
|Passcode||Yes (depends on online banking app)|
|Fingerprint||Yes (depends on online banking app)|
|FaceID||Yes (depends on online banking app)|
|Two-factor authentication||Yes (depends on online banking app)|
SPEI Casinos FAQs
Where Is the SPEI Service Available?
Currently, SPEI is available only in Mexico and it is offered by some of the major banks in the country. Unfortunately, players located outside Mexico will not be able to make use of this payment solution for their casino deposits and withdrawals.
Is SPEI a Payment Method That Can Be Seen at Many Online Casinos?
Unfortunately, as SPEI is available only in Mexico, it is not that widespread among online casinos that cater to many international players. However, as the payment solution is gaining more popularity in Mexico, more virtual casinos that cater to Mexican players are adding SPEI to their lists of supported payment solutions.
Can I Redeem a Casino Bonus When I Deposit via SPEI?
Yes. Typically, virtual casinos do not exclude players who deposit via SPEI from their promotional offers. Of course, to be sure, read the full terms and conditions of every bonus before you try to redeem it. It is possible for some casino promotions to be exclusively available only to players depositing via a specific method.
What Type of Currencies Can I Use for My SPEI Payments?
Since SPEI is a payment system supported strictly by Mexican banks only, it is only initiating payments in Mexican pesos. You will be able to use this service only if your bank account is set up in MXN, with the bank account of the virtual casino also required to be in MXN.
Do I Need Any Mobile App to Pay via SPEI on Casino Apps?
No. SPEI can help you complete your casino payments on the go, without having you install any type of app on your mobile device. That said, as most banks offer their dedicated mobile banking apps, you can install the app of your respective bank and easily confirm SPEI payments by accessing your mobile banking account through the app.