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How long does the third-party beneficiary in Mexico have to formalize the account?

April 26, 2017account Beneficiary formalize mexico third-party

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How long does the third-party beneficiary in Mexico have to formalize the account?

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The beneficiary in Mexico has up to 10 Mexican banking days to formalize the account, that is, to go to the Bansefi branch with an official identification to open the account. If the beneficiary does not formalize the account within this time frame, the account will be closed and the funds will be returned to the originating U.S. financial institution and its customer.