Ground rules for using Pesito.
Plain-English summary. Pesito operates in Mexico, so the binding legal version of these terms is the Spanish Términos de Servicio at /terminos, governed by Mexican law. This English page is a good-faith summary — it does not modify or replace the Spanish version.
What Pesito is — and isn't
Pesito is a digital wallet service being built by Pesito Technologies, S.A.P.I. de C.V. It is designed to let you hold a peso (or dollar) balance, send that balance to other Pesito users, and move it in and out via licensed rails (planned: OXXO cash, SPEI bank transfer, card). These are planned features — subject to change and regulatory approval.
Pesito is not a bank. We do not hold a banking license, we are not regulated by the CNBV (Comisión Nacional Bancaria y de Valores), and we do not accept deposits in the legal sense that Mexican banks do. When the service launches, your balance will be held in custody at licensed financial partners; you will be the beneficial owner.
Balances will not be insured by IPAB (Mexico's deposit insurance agency), because Pesito does not take deposits. The protection that will apply to your funds is the custody arrangement with our financial partners, which will be described in the Spanish version of these Terms; the list of partner institutions will be published before launch.
Who can use Pesito
- You must be 18 or older.
- You need a Mexican, US, or Canadian phone number.
- You must use Pesito for your own personal use — no reselling, no "on behalf of" commercial arrangements without written authorization.
To keep transfers safe and meet compliance requirements, Pesito may ask you to verify your identity before sending. Required information may vary by country, state, transfer amount, and partner requirements. We only ask for what we need to provide the service, prevent fraud, and meet legal obligations. Your waitlist or survey responses do not complete identity verification.
What you agree to NOT do
- No money laundering or terrorism financing — ever.
- No sanctions-busting.
- No commercial use of peer-to-peer transfers to evade regulation.
- No automated scraping, probing, or abuse of the service.
Fees
Planned launch pricing — not yet available. Pesito's planned pricing is a flat $1 Pesito fee per international US→Mexico transfer (any supported amount within app and legal limits) — the $1 fee applies only to international transfers — and $0 on domestic transfers between Pesito users within the same country (US→US or MX→MX) — planned. We're building Pesito with no exchange-rate markup: our reference is a mid-market rate average at quote time, and any rate margin would appear as a separate, disclosed line item — never hidden inside the rate. Final pricing is always shown in the app before you pay and may change before launch; see /en#pricing.
Your recipient's bank or cash-out location may charge its own fees, and foreign taxes may apply. Pass-through operator fees, if any, are shown before you confirm. Before every transfer you'll see the exchange rate, the exact fee, and exactly what your recipient gets — as U.S. federal law requires (CFPB Remittance Transfer Rule). Once the service is live, we will notify you at least 30 days before any fee change.
Account closure
Either side can end this relationship. Once the service is live, if you close your account, we will return your balance via bank transfer (SPEI) or, in exceptional cases, a check. If we close yours — for a material breach, regulatory requirement, or a frozen-funds order from a competent authority — we will notify you and describe your path to recover funds, subject to applicable law.
Changes to these terms
We may update these terms. If the changes are material, we email you at least 30 days before they take effect. Continuing to use Pesito after an update means you accept the new terms.
Governing law and disputes
These terms are governed by the laws of the United Mexican States. Disputes are resolved first by CONDUSEF (Mexico's financial consumer protection agency) and then by the competent courts of Mexico City, which you accept as the exclusive venue.