Registration
What is registration?
Registration is the process where the account that you want to send funds to needs to be confirmed by the target bank. This process must be completed before any payments can be made.
The time it takes to register an account depends on the country and bank.
Mexico
All times and dates are relative to Mexico City (GMT-6).
| Request to register account made... | To bank... | Registration complete within... |
|---|---|---|
| before 3 pm | any | one business day |
| after 3 pm | any | two business days |
Direct Debit Payment
After an account is successfully registered, a direct debit transaction can be made. The direct debit transaction consists of two stages:
- Source account debited
Money is debited from the account that will credit the recipient account. - Recipient account credited
If the direct debit transaction is successful, the recipient account is credited with the amount debited from the source account.
However, in the case that there was an error in the transaction, you will receive a notification (either via a webhook or in the Direct Debit UI) that the transaction did not succeed.
The time it takes for the direct debit transaction to be completed depends on the country and bank.
Mexico
All times and dates are relative to Mexico City (GMT-6).
| Direct debit request made... | To bank... | Source account debited... | Merchant's balance credited within... |
|---|---|---|---|
| before 3 pm | any | within one business day | within two business days |
| after 3 pm | any | within two business days | within three business days |
Example flows
Below we include some example timings for a flow where you register a payment method and then initiate a direct debit payment request.
Flow times for payment requests that have not been registered first
In the case that you make a payment request for a payment method that has not been registered, then Belvo will first peform the registration and then process the direct debit payment.
Mexico
All banks
Registration
- You register a payment method at 08:00 on Tuesday.
- The account will be confirmed by 12:00 on Wednesday at the latest.
Direct Debit Payment (initiated before 15:00)
- You initiate the direct debit request after 12:00 on Wednesday.
- The funds will be debited from the source account by 12:00 on Thursday.
- The merchant's balance will be credited by 12:00 on Friday.
Direct Debit Payment (initiated after 15:00)
- You initiate the direct debit request after 15:05 on Wednesday.
- The funds will be debited from the source account by 12:00 on Friday.
- The merchant's balance will be credited by 12:00 on Monday.