Daily settlement

As part of Banxico's regulation for Money Transmitters operating in the SPEI system, Fintoc performs a daily settlement of the balances in its clients' accounts. This occurs every day at 17:30, Central Mexico Time (UTC-6).

At the time of the settlement, the full balance of your Fintoc account is automatically transferred to the bank account you have configured as your deposit account.

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This settlement is temporary. It will stop applying in the coming months, once Fintoc completes its final validations to begin operating as an IFPE (Electronic Payment Funds Institution). In the meantime, we recommend setting up a replenishment process to minimize balance shortfalls in your accounts.

What does this mean for your operation?

At 17:30, your Fintoc accounts will have a balance of $0 MXN. This means that:

• You won't be able to process payouts until your account has funds again.
• Any payins you receive after the settlement will be credited normally to your account.
• To resume processing payouts immediately, you need to perform an account replenishment: transferring the balance back to your Fintoc account.

How to perform the replenishment

There are different ways to replenish funds after the settlement. Below are the available options.

Option 1: Automated replenishment via Webhook

Recommended for technical teams

If you have technical capacity, this is the most efficient option in terms of replenishment speed. It consists of detecting the webhook that Fintoc sends at the moment of the settlement and, in response, automatically triggering a transfer back.

Requirements:

• Technical capacity to integrate webhooks
• An account at a SPEI participant that offers an API to originate transfers from your system

How does it work?

1. Subscribe to the transfer.outbound.succeeded event from the Fintoc dashboard in live mode.
2. When you receive an event, validate that it corresponds to the daily settlement by checking that:
   • mode: live (to discard simulated sandbox events)
   • comment: Fintoc daily settlement (identifies that it's the sweep and not another outbound transfer)
3. Identify the sweep amount in the event payload.
4. From your system, trigger a SPEI transfer for that amount from your bank account to your Fintoc CLABE.
5. The funds are credited to your account immediately.

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Important: If you have webhooks subscribed in both test and live modes pointing to the same endpoint, make sure to validate the mode field of the event to avoid processing simulated sandbox settlements as if they were production.

Option 2: Automated replenishment via BBVA

If your company has a BBVA account, Fintoc can enable an integration that fully automates the replenishment. Once configured, you don't need to do anything daily. The replenishment happens automatically every day without any intervention from your team.

How does it work once activated?

1. At 17:30, Fintoc performs the settlement as usual. The funds arrive in your BBVA account.
2. Fintoc, using the BBVA API credentials you shared during setup, automatically originates a SPEI transfer back from your BBVA account to your Fintoc CLABE for the same amount received. The integration detects the deposit and sends those funds back to your Fintoc account.
3. The funds are credited to your Fintoc account and your account becomes operational again.

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After the initial activation, this process is 100% automatic. It requires no daily intervention from anyone on your team. The replenishment runs every day unattended.

What's needed to activate it? (one-time only)

The initial setup requires documentation and signatures. It's a process that is done only once, and after that everything runs automatically.

Required documentation:

• Legal name
• RFC
• BBVA account number
• CLABE
• Legal representative name (include copy of INE or Passport)
• Tax situation certificate (less than 3 months old)
• BBVA API keys with permissions to originate SPEI transfers

Additionally, it will be necessary to sign 2 contract annexes in person (handwritten signature). Fintoc takes care of coordinating signature collection and delivery to the bank.

Once all documentation and signatures have been delivered, activation by the bank is expected, after which the replenishment will operate automatically indefinitely.

Option 3: Scheduled transfer from your bank

If your bank allows you to schedule recurring SPEI transfers, you can configure an automatic daily transfer to your Fintoc CLABE after 17:30.

How does it work?

1. At 17:30, Fintoc performs the settlement. The funds arrive in your bank account.
2. Your bank automatically executes the scheduled transfer for a fixed amount to your Fintoc CLABE.
3. The funds are credited to your Fintoc account within minutes and your account becomes operational again.

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Important: The sweep amount varies every day depending on your payins. This option is only recommended if your daily volume is stable and predictable. Set the transfer amount close to your typical maximum daily balance to cover high-volume days and reduce the risk of running out of balance. For variable volume, consider Option 1 or 2.

Option 4: Manual daily transfer

If you can't implement any of the previous options, you can replenish funds manually every day from your bank. It's the option with the lowest technical barrier, but the most demanding operationally.

How does it work?

1. At 17:30, Fintoc performs the settlement. The funds leave your Fintoc account to your configured bank account.
2. A member of your team reviews the Fintoc dashboard to identify the exact sweep amount of the day.
3. From your bank, initiate a SPEI transfer for that amount to your Fintoc CLABE.
4. The funds are credited to your Fintoc account within minutes and your account becomes operational again.

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This is the most manual option of all. It requires someone from your team to be available every day at 17:30 to execute the transfer. Use it only as a temporary measure while you implement one of the automated options.

Options summary

Our recommendation

• If you have a technical team + an account at a bank with API → Option 1 (Webhook). It's the fastest to implement and the one with the shortest time without balance.
• If you have a BBVA account and prefer not to develop anything → Option 2 (BBVA Integration). Fintoc takes care of the configuration.
• If your daily volume is stable and predictable → Option 3 (Scheduled transfer). No development required and your bank executes the transfer automatically.
• If you need something immediate while you implement an automated solution → Option 4 (Manual transfer) as a temporary solution.

Frequently asked questions

Why does Fintoc perform the daily settlement?

It's a regulatory requirement from Banxico. As a Money Transmitter, Fintoc cannot hold client funds in the SPEI account for more than 24 hours. This restriction will stop applying once Fintoc obtains the license to operate as an IFPE.

What time exactly does the settlement occur?

Every day at 17:30 Central Mexico Time (CST). The full balance of your account is transferred to the bank account configured as your settlement destination.

How long will I be without balance?

It depends on the replenishment option you choose. With the BBVA integration or an automated webhook, the replenishment happens minutes after the settlement. With a scheduled transfer, it depends on the time you configure at your bank.

What happens with payins that arrive during or after the settlement?

They are credited normally to your account. The settlement only moves the existing balance at the time of execution. Any subsequent payin is reflected in your balance without issue.

Is the daily settlement permanent?

No. The daily settlement is a temporary measure while Fintoc operates as a Money Transmitter. Once Fintoc obtains its IFPE license, this restriction will be removed.

What happens if I don't perform the replenishment?

Your Fintoc account will have a $0 balance until you receive new payins or perform a manual funding. You won't be able to process payouts in the meantime.

Can I test the settlement flow in sandbox?

Yes. The sandbox environment simulates a daily settlement at 17:30 so you can test your replenishment flow before going to production. Use this environment to validate your webhook integration.

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Have questions? Contact the Fintoc support team. We're available to help you choose and implement the best option for your operation.