Cash Management

Cash Management

Easy financial solutions for your business’s Treasury

Readiness is a resource that adds value to the challenges that represent the management of any business if used as a main tool.

At Monex Grupo Financiero, we know that in order for money to make more money we need to have a bank that backs up transactions with the same dynamism.

Therefore, we have created products and services especially for the treasury department of your business, with flexible infrastructure that can be adapted to your needs.

Furthermore, at Monex Grupo Financiero, we rely on regional experts that will assist you, providing guidance in terms of better control and improved cash flow management.

Digital Account

The Digital Account is a multicurrency bank account that allows you to manage your business’s treasury resources swiftly, maintaining balances in different currencies: Pesos, US dollars, Canadian dollars, euros, Pounds sterling, Swiss francs, Swedish Krona and Yens.

Multicurrency bank account

Monex Digital Banking commission free access

Pays interests when your monthly average balance is higher than 10 thousand pesos

Benefits
  • The Digital Account is the backbone to operate Cash Management products and services.
  • No opening, management or monthly fees.
  • Unlimited and commission free account statement inquiries, available at all times from the moment the Digital Account is opened.
  • It helps you reduce costs by having the most important currencies in a single account.
Requirements
  • Client in Home Visit Report.
  • Constitutive act registered before the Property and Commerce Public Registry.
  • Latest official recording in case of changes in business name, mergers, divisions or equivalent.
  • Notary powers from the legal representatives
  • Tax Identity Registration Number (RFC)
  • Official ID from the representatives
  • Proof of address from the representatives (no later than three months old)

**If one of the representatives is a foreign citizen, Migratory Form, Passport and current proof of address (no later than three months old) is required. 

Collection

With the different collection solutions offered by Monex, save time and reconcile your accounts easier. We offer you Agility, flexibility and Access to your collection information anytime.


Options:

Payments and Transfers

Use our Payment solution to easily and timely perform payments to suppliers or other local or international beneficiaries, charged to your Digital Account and with the plus of having the most important currencies in a single account.

Perform payments through SPEI, SPID

International Transfers

Service and Tax Payments

Benefits
  • Perform payments through SPEI, SPID
  • Debit card payments to all local banks
  • Service payments with CIE agreements (Bancomer)
  • Federal Tax payments: DPA and reference payment
  • International transfers
  • email notifications of cancelled payments
  • When performing a payment, you may include up to 5 beneficiary email addresses to inform him/her of delivered payment
  • Access via Digital Banking or Monex Direct (Host to Host)
  • One- on- one or massive scale payment delivery. In the case of massive scale payments, Monex will display the summary of total registries: correct, with errors and cancelled.  

Term investments in Monex CEDES

Investments in Monex CEDES are the perfect solution to invest treasury surplus or resources allocated to be used in the medium or long run for specific projects, having the money always working for you and achieving a more effective treasury.

Returns in pesos and US dollars according to the balance and term

Interest payment is carried out automatically to the Digital Account when the signed term is up or on a monthly basis starting at 90-day terms or more.

By activating the Digital Account, you may immediately invest without the need of signing an additional contract and with an extended schedule.

Benefits
  • Returns in pesos and US dollars according to the balance and term
  • Interest payment is carried out automatically to the Digital Account when the signed term is up or on a monthly basis starting at 90-day terms or more. 
  • By activating the Digital Account, you may immediately invest without the need of signing an additional contract and with an extended schedule.
  • Commission free.
  • Product protected by the IPAB1 for up to 400 thousand UDIs (Investment units) Access via: Monex Digital Banking.
Products and Services
  • Digital Account
  • Zero balance account
  • Collection
  • Payments and Transfers
  • Monex Direct (Host to Host)
  • Investments
  • Monex Digital Banking 
Additional services

Currency Trading

Over 32 years of experience leading the currency trading service allows us to offer exchange rates with the best service in the market.

At Monex Grupo Financiero you have the flexibility to execute currency trading with the help of your Monex Advisor or directly through our Online Banking Platform. 
 

Checks

  • Check issuance charged to your Monex Digital Account, ask your Monex Advisor for this service.
  • Monex cashier’s checks in pesos and US dollars.
  • BBVA checks in pesos and US dollars.
  • The Standard Charted Bank certified checks in US dollars, euros, yens and pounds.  
     

Reports

We know how important it is to know your business’s cash flow balance; thus, through Online Services (Digital Banking) and Monex HUB, you will be able to obtain the necessary information in order to perform bank reconciliation processes at any moment, such as the following:  
 

  • Online balance and transaction inquiries from the different currencies
  • Investment records
  • Online current and historic bank statements
  • ID depositors
  • Intraday report through Monex Direct
  • Daily account statements in format MT101, MT940, MT942 and MT950 through Monex 

Zero Balance Account

Weather you manage a single business with several accounts or several businesses with a single account, eliminate unproductive balances by choosing Zero Balance Account.

Help optimize your business’s treasury by automatically concentrating the resources from different accounts and/or different businesses.

The overall balance of the accounts is invested with an attractive interest rate, returning the resources to the original Digital Account the following business day.

Attractive interest rates with daily returns.

Requirements
  • Have a Monex Digital Account
  • Have Digital Banking

 

Three modalities to choose from:

  • Concentration: balances from all accounts are sent to a holding account from which the investment is executed. It is used for groups of businesses and accounts that share cash flow.
  • Virtual Concentration: the investment is performed separately in each one of the accounts, but considering their joint value. It is used for groups of businesses and/or accounts that do not share cash flow.
  • Mixed Concentration: If part of the businesses and/or accounts share cash flow and another part does not, we can perform the concentration in one part of the accounts and perform mixed concentration in another. It considers the Overall Balance to set the corresponding rate.
Benefits
  • Treasury management optimization.
  • Cash flow and investment management according to the relationship between accounts and businesses.
  • Attractive investment rates with daily returns.
Requirements
  • Have a Digital Account(s)
  • Sign a Zero Balance Account agreement
Requirements
  • Have a Monex Digital Account
  • Have Digital Banking

Description

It is a direct connection with your business’s central system to receive payment instructions and send daily account statements for your records and accounting.

Technological infrastructure for easier financial management

Easy connection according to your needs with the different types of services: Basic and Plus

Establish direct and secure communication between the business’s and Monex’s central systems (ERP’s)

Why Monex Direct?
  • We are aware of the need to optimally manage the money flow of your business.
  • We have high security and confidentiality mechanisms so businesses can perform multiple payments and transfers, both local and international.
  • It offers different online communication links to execute services such as payment instructions and/or check electronic account statement details with these features.
  • it has the automated function to perform payment operations between Monex accounts, transfers to banks in Mexico through SPEI and abroad with SWIFT, both individually or massive.
Types of Connection

Monex Directo Basic

It is an online communication link through Web Services (SW) under the https protocol published by Monex to execute services such as payment instructions and/or check electronic account statement details.  

Monex Directo Plus

It is a particular and personalized link for the exchange of information called Dedicated Connection (CD) between the client’s central system and Monex’s system in order to execute services such as payment instructions and/or check electronic account statement details.

IPAB Protection

Products that are protected by the Bank Savings Protection Institute (IPAB):

  • Monex Digital Account
  • Monex Account
  • CEDES Monex

 

IPAB: http: //www.ipab.org.mx

IPAB Protection

Products that are protected by the Bank Savings Protection Institute (IPAB):

  • Monex Digital Account
  • Monex Account
  • CEDES Monex

 

IPAB: http: //www.ipab.org.mx

Requirements
  • Have a Digital Account
  • Define a format to use between Monex Direct Plus and Basic
  • Sign the contract annex that corresponds to the services
  • Activate the implementation with the products department