Coba | Connect Mexico's SPEI system to your US Deposit Account

SPEI 10x

Seamless Cross-Border Payments from the US to Mexico

Connect Mexico's SPEI system to your US Deposit Account. With SPEI 10x, send money to vendors, family, or credit cards directly from your dollars. Automate payments, schedule transactions, and maximize your USD value effortlessly.

Coba is a financial technology company, not an FDIC insured depository institution. Banking services provided by Bangor Savings Bank, Member FDIC. FDIC insurance coverage protects against the failure of an FDIC insured depository institution. Pass-through FDIC insurance coverage is subject to certain conditions.

SPEI 10x bridges the US and Mexican financial systems—all automated for ease and maximum value.

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Maximize Every Transaction with SPEI 10x

Without Coba

Paying more and waiting longer for international transfers in the US-MX corridor
Each payment requiring tedious manual input and a conversation with an FX analyst
Losing value on every transfer due to low FX rates

With Coba

Fast, seamless payments with no hidden fees between the US and Mexico
Recurring transfers based on dates and FX chantes to save time and hassle
Get the best rates, maximizing every dollar paid out to Mexico

Features / Benefits

Faster, smarter, and tailored to your US-MX cross-border needs

SPEI Connected to the US Financial System

Payouts to Vendors, Family, and Credit Cards

SPEI Automation for Recurring Payments

Use Case - MX Professionals in the US

A Financial Lifeline Between Your Two Worlds

Effortlessly manage your US income while fulfilling your commitments in Mexico. From easy ACH deposits to secure SPEI payouts, Coba’s low-cost solutions ensure your money moves where it’s needed most—without the extra costs. It’s like having a bit more in your pocket with every transaction.

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Features / Benefits

Unlock More Features, Maximize Your Savings

Connect with other US accounts via Plaid to easily manage your finances

Bank Anywhere, Anytime—Right from Your Phone

Receive domestic and international wires into your account

Open your Cross-Border USD Account today

Unlock seamless cross-border banking and start saving more—open your USD account with Coba today

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Discover the Tools to Empower Your Financial Journey

Explore the full suite of Coba’s offerings, designed to simplify your financial life, maximize your earnings, and provide seamless cross-border solutions

Programmatic Payouts for Specific Cross-Border Needs

Expert Tax Support for Cross-Border Professionals

Compare and See Why Coba Stands Out

Don’t just take our word for it

“Simply the best solution for those of us who have international clients and live in Mexico. Coba has the greatest user experience coupled with the most competitive exchange rate. I’m glad I’ll never need to use traditional banks to convert my USD again.”

Rafael Cardenas

Staff Software Engineer

"Coba has been immensely helpful in precisely managing my clients' payments, despite currency fluctuations. Moreover, their advisory and accounting support has been crucial in keeping my fiscal situation organized and up-to-date. 100% recommended!"

Beatriz Montaño

Art Director

“A platform where I can easily deposit earnings directly into my US account and access those funds in pesos whenever I want. Coba offers excellent customer service at any time and is willing to help making it a better experience.”
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Mariana Villarreal

Head of People Ops

Frequently asked questions

What fees does Coba charge?

At Coba, we offer the Deposit Account and Virtual US Debit Card with no fee.

What is the difference between the Coba Deposit Account and a Wallet?

Coba is a Fintech (or financial technology) company. This means we don’t have a bank charter, but instead, partner with Bangor Savings Bank, Member FDIC. This allows us to provide you with banking products and services, and to insure your deposits with us up to the legal limit of $250,000 USD. In contrast, a Wallet won’t have the same flexibility and security that the current banking system can provide.

Who can open a Coba account and what information do I need to provide?

Coba was created for individuals living outside of the US, who need access to a U.S. based deposit account to receive payment from their U.S. employers. Coba is currently available to individuals living in Mexico.

To comply with banking regulations, we need to collect information that will allow us to verify your identity. This includes your personal information, Tax ID (RFC) and National ID Number (CURP), Government ID + Selfie picture and Proof address if different than address displayed on Government ID (utility bill, bank or credit card statement). In some cases, we may also ask for additional documentation to confirm your identity, but only if it’s completely necessary.

I want to receive my USD payments into a US Deposit Account. Do I owe taxes?

According to the US Internal Revenue Service (IRS), your residency status and the location where you perform your work as a contractor determines the source of your income for tax filing and tax payment purposes. This article from Deel (Payroll for Global Teams) offers additional information.

Cross-border tax can be complex, which is why Coba offers it’s members a Tax Support Service to make it easy to fulfill your own tax obligations in line with local tax laws in your country of tax residence. Coba members have access to a qualified tax expert as well as an easy in-app way to report payments, timbrar facturas to local authorities and even submit monthly tax declarations.

How is my money safe?

Funds in your Coba Deposit Account is insured by the FDIC (Federal Deposit Insurance Corporation) through our partner bank, Bangor Savings Bank, Member FDIC, up to the legal limit of $250,000 USD.

Still have a questions?

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