Withdraw from Binance to a Mexican bank account

Getting money into Binance from a Mexican bank takes about half an hour. Getting it back out is slower and fussier: the peso withdrawal takes business days, the fee is not listed in the help article, and the name on the receiving account has to match yours exactly. For expats and digital nomads there is an extra gate, the CURP, that decides whether the peso route is open at all.

This guide covers the three routes that work, what each one costs, and what to do if you don't have a CURP yet. For our overall take on the platform, see the Binance review.

Three ways out, side by side

All three routes end in a Mexican bank account in your name. None of them pays into a US or European account; that needs a different exit, covered further down.

Before you start: KYC, CURP and Medá

Binance doesn't hold your pesos itself. They sit with Medá, an IFPEElectronic payment funds institution: a fintech authorized by Mexico's CNBV to hold e-money in pesos. It is not a bank and balances are not covered by IPAB deposit insurance. authorized by Mexico's banking regulator, the CNBV. Sell crypto for pesos and the balance lands in a Medá account in your name; withdraw and the SPEI transfer leaves from there.

To use it you need:

• Full identity verification (Binance's KYCKnow Your Customer: ID-document and selfie checks exchanges run under anti-money-laundering rules.) with a passport or Mexican ID and a face check.
• CURP verification. The official withdrawal guide asks for it before it lets you choose SPEI.
• A CLABEMexico's 18-digit standardized bank account number, used to receive SPEI transfers. in your own name. Binance says plainly that only CLABE accounts under your name are accepted.

The CURP question for foreigners

The CURPClave Única de Registro de Población: Mexico's 18-character personal ID code. Citizens and legal residents have one; tourists normally don't. is the gate. Mexican citizens have one from birth. Foreigners usually receive one when they get temporary or permanent residency, and you can look yours up on the government's CURP portal. Tourists on a visitor permit generally don't have one.

If you have a CURP and a Mexican bank account in your name, everything below works for you exactly as for a Mexican resident.

If you don't, routes A and C are closed: Binance's peso withdrawal requires CURP verification, and Bitso's help center says peso deposits and withdrawals need a CURP too. Kraken's peso rails also tie to a CURP or RFC. The practical exit is to send your USDT to an exchange in your home country that pays out to your home bank, then spend with your home card in Mexico. Check which USDT network that exchange accepts before sending; our USDT network guide explains how to avoid the expensive mistakes.

Route B, P2P, needs a Mexican bank account in your name to receive the SPEI payment. We could not confirm whether Binance P2P in pesos requires a CURP on top of standard KYC.

Route A: sell for pesos and withdraw by SPEI

Selling. Binance's public API showed USDT/MXN, BTC/MXN and ETH/MXN spot markets trading when we checked, with a base fee of 0.10% per trade for regular users. You can sell with a market order or a limit orderAn order where you set the price and wait for someone to fill it. Slower, but you never sell below your number.. The convert feature is simpler, but its cost can be built into the quoted price as a spreadThe gap between the price you are offered and the market price. It is not shown as a fee, but you pay it., which Binance does not publish for pesos.

Withdrawing. These are the steps from Binance's help center, with its English labels:

Worked example. You hold 1,000 USDT and USDT/MXN trades around 18.70 pesos (illustrative; it moves constantly). A market sell gives 18,700 pesos minus the 0.10% fee of 18.70, leaving 18,681.30. We can't tell you what the withdrawal itself deducts, because Binance doesn't publish it in its help center; read it on the preview screen.

Route B: sell USDT on P2P to a buyer paying by SPEI

On Binance's P2PPeer-to-peer: you sell directly to another person; the platform locks your crypto in escrow while they pay and releases it when you confirm. market, the pesos come from another person, not from Binance. You pick a buy ad for USDT in MXN with SPEI as the payment method, open the order, and your USDT is locked in escrowThe platform holds your USDT for the duration of the order. No one can move it until you release it or an appeal is resolved.. The buyer transfers pesos to your Mexican account and marks the order as paid; you release the USDT once the money is really there.

Pesos can land in minutes, but the price is the cost. Buyers usually pay a bit below the market rate. Use the calculator below to see how far an ad sits from the live reference.

On platform fees: Binance charges the advertiser a fee of 0% to 0.35% depending on the market and has said it keeps 0% for takers on standard ads, with charges on some express modes. We could not confirm the current rate for Mexican pesos; the order screen shows it before you open the trade.

If a payment looks odd, check the SPEI tracking key on Banxico's CEP portal to see whether it settled and who sent it. More scam patterns are in our P2P guide and the broader crypto scams guide.

Route C: move USDT to Bitso and withdraw by SPEI

Bitso's fee page lists free peso withdrawals by SPEI, to a debit card or to a mobile number. That is why many people buy or receive USDT on Binance and cash out on Bitso.

Create a USDT deposit address on Bitso, withdraw from Binance to it on the same network, sell on Bitso's USDT/MXN book and withdraw. When we checked, Binance charged 0.03 USDT on Polygon and 1.5 USDT on Tron. Watch out for BEP20, which Binance tends to suggest: Bitso does not list it for USDT.

Same 1,000 USDT example. Polygon delivers 999.97 USDT. Selling as a taker at Bitso's 0.78% base fee, at 18.70 pesos, gives about 18,699 pesos gross minus roughly 146 in fees: about 18,553 pesos, with a free SPEI withdrawal. That is about 128 pesos more than route A before route A's unknown withdrawal fee, in exchange for a known total and no business-day wait. A limit order at the 0.60% maker rate narrows the gap.

Bitso's deposit and withdrawal steps are in our Bitso deposit and withdrawal guide, and the two exchanges are compared head to head in Bitso vs Binance.

What Binance charges, and what we couldn't verify

Verified: the 0.10% base spot fee (0.075% when paid in BNB); per-network crypto withdrawal fees in Binance's public table; the 1–3 business-day SPEI timeline; the CURP and own-name CLABE requirement.

Not verified: the peso withdrawal fee and minimum. The official guide doesn't mention either and points to a limits article for Latin American currencies that we couldn't access. Secondary sources quote monthly limits by verification level, but without official confirmation we won't repeat them. The order preview is the source of truth: if the cost looks wrong, cancel and use another route.

Holds, AML reviews and common errors

A withdrawal that takes longer than three business days is usually under review. Platforms serving Mexican customers with virtual assets have anti-money-laundering duties: identifying you, watching for unusual activity and filing notices above set amounts. Large withdrawals soon after deposits, many P2P payments from different people, or a withdrawal right after changing your password or 2FA are typical triggers. Keep your purchase history, SPEI receipts and full P2P order records handy in case you're asked about the source of funds.

The errors that bounce a withdrawal most often:

• A CLABE in someone else's name, including a spouse's account or a company with a different legal name.
• An unverified CURP or details that don't match your ID.
• Counting calendar days instead of business days. A Saturday request starts counting on Monday.
• Sending USDT on the wrong network in route C, which may not be fixable.
• Releasing P2P crypto on a screenshot. Fake receipts are cheap to make.
• Splitting a large withdrawal into many small ones to fly under the radar. That is exactly the pattern monitoring systems flag.

If the SPEI has left but the money hasn't arrived, ask for the tracking key and check it on Banxico's CEP portal. If it shows as settled, the claim is with your bank. For a broader look at cash-out options, including cash, see our guide to selling crypto in Mexico.

Taxes when you convert to pesos

If you are a Mexican tax resident, a gain on selling crypto, including USDT bought when the peso was stronger, is reportable to the SAT even on a foreign exchange. Non-residents follow different rules, and your home country may tax the gain too. Download your Binance history every year and read our crypto tax guide for Mexico.