What is the best way to send money to Mexico?
Your first 5 money transfers are FREE to Mexico in the BOSS Money App. Then send money with low fees starting at just $2.99 when you use your debit card.
If you’re one of theover 37 million Mexicans living in the US, this is a question you likely ask often. When sending money to loved ones back home, you’d naturally want them to receive it in the fastest and most convenient way possible. You’d want to find money transfer providers with the best exchange rates and the lowest transaction fees.
In this article, we will review the various ways you can transfer money to Mexico and help you find the ones that save you the most money.
How much money can I send to Mexico?
In 2019, the World Bank reported thatover 39 billion dollarsin personal remittances were received in Mexico. This figure isn’t surprising as there’s no legal limit on the amount of money that can be sent to the country.
However, the IRS requires anyone sending a transfer of over $10,000 to file a report. Failure to do so may result in hefty penalties.
Also, most money transfer providers impose their own limits on the amount of money that can be sent. Western Union allows only up to $5,000 per transaction. If you want to send more, you’d have to sign up for their WU Online FX Service.
Boss Revolution has a $2,999 cap on money transfers to Mexico if you do it in a mobile app. If you want to send more, you’d have to visit one of theretail locationsto send up to $10,000.
The best ways to transfer money to Mexico
To help you find the cheapest way on how to send money to Mexico from the US, we checked the current fees and processing times of different money transfer providers. Keep in mind that the fees and amounts received vary depending on the current exchange rate, mode of payment, and delivery option.
Comparison table for a 200-dollar money transfer
| Payment options and fees | Delivery options | Exchange rate (1 USD to MXN) | Amount received (in MXN) | Transfer speed | |
| Boss Revolution | Starts at $2.99 (debit card or in-store) $4.99 (credit card) | cash pickup bank deposit | 19.9 | 3,980 | Within minutes |
| MoneyGram | $9.99 | cash pickup bank deposit | 19.7472 | 3,949 | Within minutes (cash pickup) Within hours (bank deposit) |
| World Remit | $2.99 | cash pickup bank deposit | 19.7248 (bank transfer) 19.6647 (cash pickup) | 3944.95 (bank transfer) 3932.93 (cash pickup) | From within minutes to same day transfer |
| Western Union | $5 (debit card or bank account to cash pickups) $12 (credit card to cash pickups) $9.99 (credit card to bank deposits) $2.99 (debit card to bank deposits) $0 (bank account to bank deposit) $8 (in-store to cash pickup) | cash pickup bank deposit | 20.0946 (pay in-store) 19.7108 (cash pickup) 19.7329 (bank deposit) | 3,999 (pay in-store to bank / cash pickup) 3,943 (cash pickup) 3,947 (bank deposit) | Within minutes (debit/credit card or in-store 0-4 days (bank account) |
| Ria | $0 (bank to bank) $3 (bank to cash pickup) $3 (debit to bank) $5 (cash to bank/cash pickup) $6 (debit to cash pickup) $9 (credit to bank/cash pickup) | cash pickup bank deposit | 20 | 4,000 | Within minutes (cash pickup) Within hours (bank deposit) |
The data shown in the table is up to date as of April 15, 2021. Current data may differ slightly due to changes in policies and fluctuations in the exchange rate.
Comparison table for a 1000-dollar money transfer
| Payment options and fees | Delivery options | Exchange rate (1 USD to MXN) | Amount received (in MXN) | Transfer speed | |
| Boss Revolution | Starts at $3.99 (debit card or in-store) $10.99 (credit card) | cash pickup bank deposit | 19.9 | 19,900 | Within minutes |
| MoneyGram | $9.99 | cash pickup bank deposit | 19.7472 | 19,747 | Within minutes (cash pickup) Within hours (bank deposit) |
| World Remit | $2.99-$3.99 | cash pickup bank deposit | 19.7248 (cash pickup) 19.7848 (bank deposit) | 19,784.83 (bank deposit) 19,725.00 (cash pickup) | From within minutes to same day transfer |
| Western Union | $5.00 (bank account to cash pickups) $7.00 (debit card to cash pickups) $34.00 (credit card to cash pickups) $2.99 (debit card to bank deposits) $29.99 (credit card to bank deposits) $0 (bank account to bank deposits) $8 (in-store to bank/cash pickup) | cash pickup bank deposit | 20.0946 (pay in-store) 19.7108 (cash pickup) 19.7329 (bank deposit) | 20,095 (pay in-store) 19,711 (cash pickup) 19,733 (bank deposit) | Within minutes (debit/credit card or in-store) 0-4 days (bank account) |
| Ria | $0 (bank to bank) $4 (debit to bank, bank to cash pickup) $6 (debit to cash pickup) $26 (credit to bank/cash pickup) | cash pickup bank deposit | 20 | 20,000 | Within minutes (cash pickup) Within hours (bank deposit) |
The data shown in the table is up to date as of April 15, 2021. Current data may differ slightly due to changes in policies and fluctuations in the exchange rate.
Sending funds to Mexico via bank-to-bank transfers
A reliable and secure method of transferring funds to Mexico is through bank transfers. To complete the transfer, you’ll need to get details such as the recipient’s full name and address, bank account number, bank location, and BIC/SWIFT code.
How can I send money to Mexico online?
Aside from bank-to-bank transfers, it’s also quite easy to send money to Mexico online. The digital process typically involves a money transfer app, a payment method, and a delivery option.
Money transfers through mobile apps
For your convenience, some money transfer providers have apps that you can download on Google Play or the App Store. They allow you to check the exchange rates instantly and send money anytime and anywhere you are. Simply follow their instructions on how to transfer money to Mexico, so you can send funds using your smartphone.
Sending money from debit or credit cards
Commonly used by banks, money transfer apps, and online payment solutions like PayPal, using a debit or credit card is a convenient way to transfer money to Mexico.
Sending money for cash pickups
When picking this delivery method, funds are usually available within minutes. As an alternative to bank deposits, cash pickups are quite convenient for individuals who don’t have a bank account.
Best apps to send money to Mexico
The best way to send money to Mexico is by using mobile apps that offer versatile modes of payment and delivery.
Remitly
This app is among the highest-rated money transfer apps both in Google Play and the App Store. It requires no minimum transfer and allows funds to be received through mobile money. However, there’s a set limit on how much money you can send, and you’re required to have a government-issued ID.
MoneyGram
The MoneyGram app allows for almost instant money transfers when it comes to cash pickups. It also offers the versatility of paying through bank transfers, cash, or credit cards. While its pickup locations are among the most convenient, transfer fees and rates are generally less competitive.
Xoom
If you have a PayPal account, use the Xoom app to send money without hefty transaction fees. Its rates are fixed and are less than five dollars. It has cash pickup locations in Mexico and also allows direct deposits to bank accounts.
BOSS Revolution
TheBOSSRevolution Money Transfer Appcan be downloaded for free from the App Store or Google Play. It allows you to send a minimum of $10 to a maximum of $2,999 to various countries.
BOSS Revolution also offers the most competitive rates. The exchange rates are fixed on the date of the transaction, so your recipient gets the indicated amount. Also, its exchange rates are typically higher than other providers, so you get the most value for your money. Most transfers are received within minutes when sending for cash pickup, bank deposit, or home delivery.
The convenience provided by BOSSRevolution
BOSSRevolutionoffers different delivery methods. Depending on the country you’re wiring to, you can choose from cash pickups, home delivery, bank or mobile wallets deposits.
Currently, BOSS Revolution doesn’t have home delivery services for Mexico. However, they do allow bank deposits to several banks near you. This includes Actinver Sociedad Operadora, Afirme, Banamex SA, Banca Mifel SA, Banco Banjercito, Banco del Bajio SA, Banco Interacciones SA, Bancomer, Bancoppel, Banorte, Banregio, Bansefi SNC, Cibanco SA, Elektra Mexico, HSBC (Bital), Inbursa, Libertad Servicios Financieros, Santander Serfin, and Scotiabank Inverlat SA.
Those who prefer cash pickups can also do so through featured partners in Mexico. Recipients can claim their remittances from Walmart, Super Farmacia, BanCoppel, BBVA Bancomer, Elektra, Telecomm, Banorte, Soriana, and Bodega Aurrera.
How to transfer money to Mexico with BOSSRevolution app
Using the BOSS Revolution app is one of the easiest ways to send money to Mexico. Just follow these step-by-step instructions:
- Download theBOSS Revolution Money Transfer Appfrom Google Play or App Store.
- Sign up for a free account.
- Input the amount you’re sending to check the fees and exchange rate.
- Choose your preferred payment method, which can either be through debit card or credit card.
- Pick a delivery method among bank deposit, cash pickup, or home delivery.
- Provide the recipient’s contact information. If transferring through bank deposit, indicate the recipient’s Mexican bank account details. If choosing home delivery, provide the complete address.
- Double-check all information and confirm transfer details.
- Click send and track the progress of the transfer.
Your first 5 money transfers are FREE to Mexico in the BOSS Money App. Then send money with low fees starting at just $2.99 when you use your debit card.
Tips & tricks to cut money transfer costs
Check all fees, especially hidden ones.
Some money transfer providers offer a fixed transfer fee, while others charge a percentage of the amount transferred. Some also charge additional fees for the currency exchange. Moreover, check with your credit card provider for any fees they might charge separately.
Compare and choose the best value.
Compare costs in real-time by using comparison tools or checking individual websites and apps. Exchange rates and transfer fees vary per provider, so choose the best exchange rate at the time you’re sending the money.
Avoid emergency transfers.
Express transfers have premium rates, so you can save on fees if you opt for regular transactions.
Sources: all third party information obtained from applicable website as of April 15, 2021
This article is provided for general information purposes only and is not intended to address every aspect of the matters discussed herein. The information in this article is not intended as specific personal advice. The information in this article does not constitute legal, tax, regulatory or other professional advice from IDT Payment Services, Inc. and its affiliates (collectively, “IDT”), and should not be taken or used as such by any individual. IDT makes no representation, warranty or guaranty, whether express or implied, that the content in this article is current, accurate, or complete. You should obtain professional or other substantive advice before taking, or refraining from, any action on the basis of the information in this article.
FAQs
5 Best Ways to Send Money to Mexico + Cheapest Apps? ›
Finding the Cheapest Way to Send Money to Mexico
The cheapest way to send money to Mexico is to make an international bank transfer to a local bank account in Mexico via a specialist money transfer provider, which you can pay by debit card or local bank transfer.
Finding the Cheapest Way to Send Money to Mexico
The cheapest way to send money to Mexico is to make an international bank transfer to a local bank account in Mexico via a specialist money transfer provider, which you can pay by debit card or local bank transfer.
Western Union
Its app allows you to send money to 200 countries and territories, including Mexico.
- OFX: Cheapest for bank deposits.
- Remitly: Cheapest for cash pickup.
- MoneyGram: Fastest (tie) and biggest network.
- Xoom: Fastest (tie)
- Western Union: Runner-up for biggest network.
Does Zelle work in Mexico? Zelle can only be used by customers in the US with local bank accounts and phone numbers - you can't make a Zelle payment to someone in Mexico. Check out alternatives like Wise for low cost international transfers to Mexico.
Can I use venmo in Mexico? ›Venmo is currently only supported within the U.S. If you try to sign in while abroad, you'll likely get an error message.
What is the easiest and cheapest way to send money? ›- Your Bank.
- Zelle.
- PayPal and Venmo.
- Western Union or MoneyGram.
- Physical Cash.
- Personal Checks.
- Bank Drafts, Money Orders, and Cashier's Checks.
- Email Money Transfers.
This is because, sadly, Venmo is only available in the US and doesn't work in Mexico. If you want to transfer your money to Mexico, you'll need to pick a Venmo money transfer alternative to Mexico instead, such as Remitly for cash pick-up or Wise for bank transfers.
Is Mexico using PayPal? ›In just a few clicks, your family and friends in Mexico can receive money in a variety of ways, to their bank account, cash pick-up and more.
How much can you send through Xoom to Mexico? ›Want to see Xoom's sending limits? For your recipient to pick up more than 15,000 MXN in a single transaction at any Elektra location, the city and state in their address must match the city and state of the payout location.
How much does it cost to send $100 Western Union? ›
To send $100 from your bank account to their bank account still carries a significant fee of $14.00. Sending the same amount from your credit card as a cash pickup will cost you $20.50.
How much does MoneyGram charge to send $100? ›Send up to $100 for the flat fee* of $4. If you're sending more than $100, use the online MoneyGram calculator to find out how much the transfer will cost.
What bank in Mexico has Zelle? ›🌎 Can I send money to Mexico with Zelle? No, you cannot send money to Mexico with Zelle, as Zelle is available only in the US. The payment app only allows you to send money from one US bank account to another, meaning both the sender and the recipient must have US bank accounts.
What's the cheapest way to send money internationally? ›What is the cheapest way to send money internationally? The cheapest way to send money internationally is to transfer funds directly from your bank account to a recipient's bank account. Most transfer services charge additional fees for debit card or credit card payments and cash pickups.
Can I send money to Mexico with Apple pay? ›Sending and receiving money with Apple Pay and the Apple Cash card are available only in the U.S. These services are provided by Green Dot Bank, member FDIC.
Does Google pay work in Mexico? ›Google Pay Usage Either for Online Payments in Various Countries as of March 2022. As of March 2022, the largest number of people making online payments using Google Pay live in Russia (29%). In second and third place are Mexico and Poland.
Which money app is safest? ›Most Secure: Google Pay. Why we chose it: Google Pay allows you to securely send and receive money with just your phone and mobile wallet. It encrypts your data when you make online payments and doesn't store your debit or credit card information in the app, but in a secure server.
Can I send money to Mexico via Walmart? ›You need to show your photo ID for sending or receiving money. To send money to Mexico through Walmart, you can use any valid government-issued ID such as the following: U.S. Driver's License, including Puerto Rico. State ID, including Puerto Rico.
Which money transfer app has lowest fees? ›| App | Operating System |
|---|---|
| Cash App Best for Low Fees | iOS and Android |
| Venmo Best for Shared Bills | iOS and Android |
| Facebook Pay Best for Small Transfers | Depends on the apps you already use |
| Zelle Best for Bank to Bank Transfers | iOS and Android |
Zelle® is a fast, safe and easy way to send money to, and receive money from, people and small businesses you know and trust who have a bank account in the U.S. -- typically in minutes when both sender and receiver are already enrolled with Zelle® at their financial institution or in the Zelle® app.
Is it cheaper to send MoneyGram or western union? ›
Western Union tends to provide cheaper fees while MoneyGram generally provides better exchange rates.
How much is $100 in Cash App rate? ›Here's when your Cash App will charge you a fee
So sending someone $100 will actually cost you $103. This is a rather standard fee with other payment apps as well, like PayPal, and is about the same rate businesses usually absorb with credit card transactions.
Yes, Remitly is indeed a safe money transfer service, providing the following security measures and fraud prevention safeguards: All Remitly accounts are verified using various techniques to keep them safe and secure and prevent fraud. Users need to submit certain identification documents to send money through Remitly.
Which country is Cash App allowed? ›The service allows users to send, receive, and store money within the United States and within the United Kingdom, but not internationally. Users can transfer money out of Cash App to a bank account in their country.
Does Cash App charge a fee? ›Cash App charges a fee for instant transfers (0.50% to 1.75% of the transfer amount, with a minimum fee of $0.25), but you can also choose a standard no-fee transfer, which typically takes one to three business days to complete.
Is Mexico cash only? ›In Mexican cities and tourist areas, credit cards are accepted almost everywhere. Visa and MasterCard are the most widely accepted. If you want to pay with American Express, you should ask first.
How to send money to Mexico online? ›- Log in or register for a free profile with Western Union. ...
- Choose Mexico as your destination and enter the amount you want to send. ...
- Click on 'Bank account' to enter the account details5 of who you want to receive the money.
No, Xoom isn't available in Mexico.
How much does it cost to receive money from PayPal in Mexico? ›| If your monthly amount of payments received in your PayPal Account is | Then the Applicable Fee is: * |
|---|---|
| $250,000.00 MXN and up to $499,999.00 MXN | 3.45% + $4.00 MXN |
| $50,000.00 MXN and up to $249,999.00 MXN | 3.65% + $4.00 MXN |
| $49,999.00 MXN or less | 3.95% + $4.00 MXN |
PayPal does not charge a fee if both sender and recipient have a PayPal account and the funds do not come from a debit card, credit card, or PayPal credit. MoneyGram fees range from $1.99 if no debit or credit card is used. Xoom charges $5.99 for transactions up to $999, and $9.99 for transactions over that amount.
What is the most I can send to Mexico? ›
There is no legal limit on the amount of money you can send to Mexico. Different money transfer providers will impose their own limits when sending to Mexico from the US, for example: Western Union's sending limit to Mexico is $7,499. Xoom's sending limit to Mexico is $10,000.
Is Xoom cheaper than wire transfer? ›Xoom: Best for fast delivery, great web experience
Some providers mark up their rates by less than 1%. Xoom still tends to be cheaper than banks' international wire transfers (see what banks charge). Speed: Many transfers can arrive within minutes, regardless of the payment method.
$4 for transfers of $50 or less. $8 for transfers of $51-1,000. $16 for transfers of $1,001-2,500.
How much is Western Union fee at Walmart? ›$4 for transfers up to $50. $8 for transfers of $51 to $1,000. $16 for transfers of $1001 to $2,500.
How much fee does Western Union charge? ›| Method | Fee | Fee |
|---|---|---|
| Online | Instantly with debit/credit card: $25.00 | 0 - 4 days with wire transfer: $25.00 |
| In-Store | 3 business days: $7.00 | N/A |
| WU App | Instantly with debit card: $2.99 | In 3 days with credit card: $29.99 |
No matter where you are in the US and where you're sending money to, you'll pay the same low fees every time: $4 fee for transfers up to $50, $8 fee for transfers of $51 to $1,000 and $16 fee for transfers of $1,001 to $2,500. Delivery in minutes.
How much does it cost to send $100 dollars at Walmart? ›Fees start from $4.00 for up to $50 transfer amount and go up to $16 for transfer of $1001 to $2500.
How to avoid Western Union fees? ›You can avoid these fees by using a debit card. * Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates, and taxes may vary by brand, channel, and location based on a number of factors.
What banks in the U.S. are connected in Mexico? ›- Bank of America in the U.S. is affiliated with Scotiabank in Mexico.
- HSBC in the U.S. is affiliated with HSBC Mexico.
- Santander, in the U.S., is affiliated with Santander Mexico.
- For first-time users, download the Remitly app and create an account. ...
- Enter the amount you wish to send and choose the speed of your transfer.
- Select cash pickup or bank transfer, then choose BanCoppel as your destination.
- Enter your recipient's information. ...
- Select your method of payment and enter your payment details.
Does Zelle report to IRS? ›
Long story short: Zelle's setup, which uses direct bank-to-bank transactions, is not subject to the IRS's 1099-K reporting rules. Other peer-to-peer payment apps are considered “third-party settlement organizations” and are bound by stricter tax rules.
What app can I use to send money internationally without fees? ›Send money to family and friends abroad with the Remitly app, and get a special offer on your first transfer! Trusted by millions worldwide, the Remitly app allows you to send fast and secure money transfers to banks and 435,000+ cash pickup locations worldwide. Recipients can pick up cash without paying a fee.
How can I send money online instantly? ›- Zelle. Zelle can be used online, through the Zelle mobile app or through participating banks' online banking platforms. ...
- PayPal. PayPal lets you send, request or collect money online or with the PayPal app. ...
- Venmo. ...
- Western Union. ...
- Walmart2Walmart.
- Venmo. "Make and Share Payments."
- Cash App. "How Can We Help You?"
- PayPal. "PayPal Consumer Fees."
- PayPal. "Send Money Internationally With PayPal."
- Messenger. "Conversations Come to Life on Messenger."
- Google Pay. "Send Money."
- Apple. ...
- Zelle.
Western Union
Its app allows you to send money to 200 countries and territories, including Mexico.
| Payment options and fees | Transfer speed | |
|---|---|---|
| Boss Revolution | Starts at $3.99 (debit card or in-store) $10.99 (credit card) | Within minutes |
| MoneyGram | $9.99 | Within minutes (cash pickup) Within hours (bank deposit) |
| World Remit | $2.99-$3.99 | From within minutes to same day transfer |
Fastest (tie) and biggest network: MoneyGram
MoneyGram sends money to Mexico quickly, but the speed depends on how you want the money to arrive. Transfers to a bank account take an hour or more, while transfers for cash pickup at one of about 43,000 locations in Mexico usually arrive in minutes.
| Transfer Fees: MoneyGram, PayPal, Xoom | ||
|---|---|---|
| Transfer Fees | PayPal | Xoom |
| Within the U.S. (debit/credit card → bank account) | 2.9% of the transaction + $0.30 flat fee | $1.99 |
| International ($100 from U.S. to Mexico) | $5.00 | $2.99 |
For an $8 fee*, send $200, $600, or up to $1,000 to loved ones in Mexico, Guatemala, Honduras, Dominican Republic, Peru, Colombia and the majority of South America† from an agent location nearby.
Can you send money to Mexico through PayPal? ›From a user's perspective, PayPal can be used in Mexico in just the same way as in the US and around the world. 🇲🇽 Can I PayPal from the US to Mexico? Yes, it's possible to send money from the US to Mexico using PayPal.
Can I transfer money to a Mexican bank account? ›
A wire transfer can be set up at the bank or online to send a specific sum on a specific day. The transfer can be fast, or you can establish a schedule to automatically withdraw a specified sum from your account and send it to a bank account in Mexico. It can be an excellent way of sending money anywhere.
Which is cheaper MoneyGram or Western Union? ›Send money with Western Union now
That said, you would want to look at fees, where MoneyGram tends to be less cost effective than Western Union. This is important as the payout the receiver gets is calculated using the amount you send, exchange rate offered and associated fees applicable.
MoneyGram leans slightly cheaper and averages faster transfer speeds than Western Union – but your experience is likely to vary depending on your specific transfer.
Is MoneyGram cheaper at Walmart? ›No matter where you are in the US and where you're sending money to, you'll pay the same low fees every time: $4 fee for transfers up to $50, $8 fee for transfers of $51 to $1,000 and $16 fee for transfers of $1,001 to $2,500. Delivery in minutes.
How much is $1 U.S. in Mexico today? ›1 USD = 17.278 MXN Jun 09, 2023 17:30 UTC
The currency converter below is easy to use and the currency rates are updated frequently.
Frequently Asked Questions about sending money to Mexico from the U.S. How much money can I send to Mexico? The maximum amount when sending money to Mexico and receiving in cash is $7,499 and $2,750 for receiving in a bank account– or the equivalent in Mexican pesos – by person, transaction or day.
What is best way to send money internationally? ›- Wise — Best for Low Fees.
- PayPal — Best for Peer-to-peer Money Transfers.
- Western Union — Best for Availability.
- MoneyGram — Best for Cash Transfers.
- OFX — Best for Large Amounts of Money.
- WorldRemit — Best Mobile Option.
- XE — Best for Business Transfers.
Our PayPal Mexico site in Polanco is located right in the heart of Mexico City. From here, we have been proudly serving our customers in Mexico and the broader Latin America region since 2010.
What app can I use to send money to Mexico bank account? ›Remitly helps you send money worldwide using your bank account, credit card, or debit card.
Which US banks have branches in Mexico? ›- Bank of America in the U.S. is affiliated with Scotiabank in Mexico.
- HSBC in the U.S. is affiliated with HSBC Mexico.
- Santander, in the U.S., is affiliated with Santander Mexico.
Does Mexico have Apple Pay? ›
Although only a handful of countries will accept Apple Pay in Latin America or the Caribbean, it is possible to use the convenient payment option in select countries. Latin American countries that support Apple Pay include Argentina, Columbia, Costa Rica, Brazil, Mexico, and Peru.