Directo a México payment service to close on November 20
Cross-border payment program Directo a México will end operations on November 20, 2026. Banco de México announced the closure following the US Federal Reserve's decision to discontinue its FedGlobal ACH services.
Pension pipeline prepares to shut down
The Directo a México program will officially cease operations on November 20, 2026, following a notification from the Federal Reserve regarding the discontinuation of its cross-border electronic fund transfer services.
Jointly managed by Banco de México and the Federal Reserve, the mechanism allows funds to move directly from participating US financial institutions to Mexican deposit accounts.
The service has predominantly handled cross-border social security and government pension disbursements.
Both central banks are executing coordinated measures to ensure an orderly, secure transition in accordance with international Principles for Financial Market Infrastructures.
Broader retreat from FedGlobal corridors
The decision reflects the Federal Reserve's broader withdrawal from international payment corridors, which includes halting FedGlobal ACH payments and foreign check clearing.
Banco de México confirmed that all payment transactions initiated before November 20, 2026, will be processed and settled normally without operational disruption.
The Mexican central bank reiterated its commitment to preserving financial system stability and maintaining its cooperative relationship with the Federal Reserve.
A quiet exit for public rails
The shutdown ends a bilateral payment channel that remained largely confined to public pension transfers.
While an orderly wind-down prevents operational friction, it pushes institutional flows back into private banking channels.
The move highlights how vulnerable public cross-border payment links remain to unilateral infrastructure exits.